NOTICE OF INTENT TO ISSUE BONDS NOTICE IS HEREBY GIVEN that the City Council (the City Council) of the City of Beaverton, Oregon (the City), adopted Resolution No. 4643 (the Resolution) on March 31, 2020, authorizing the issuance of bonds in an aggregate principal amount not exceeding $90,000,000 (the Bonds). The Bonds will be issued to provide funds to finance the following projects, as more fully described in the Resolution (collectively, the Project): *Financing or refinancing a portion of the costs of constructing and equipping the Patricia Reser Center for the Arts (the PRCA Facility), including the following: – Reimbursing a portion of the costs to acquire the land located at Lots 2 and 3 at the Round at Beaverton Central in Beaverton, Oregon to be used in whole or in part for the PRCA Facility and the costs of acquisition due diligence, planning, scoping, designing, architectural and engineering services for the PRCA Facility; – Continued due diligence, design and engineering services to Construct the PRCA Facility; – Cost of constructing the PRCA Facility; – Acquiring and installing fixtures, furnishings and equipment without limitation for the PRCA Facility; – Paying any other related costs to bring the PRCA Facility to an operational status; * Refund the City’s Revenue Bonds, Series 2017; * Loan moneys to the Beaverton Urban Redevelopment Agency for the purposes of financing all or a portion of certain urban renewal projects; * Finance a construction funding gap related to the City’s new Public Safety Center and certain additional capital improvement projects; and * Pay costs incident to the authorization, sale, issuance and delivery of the Bonds. The City estimates that the Bonds will be issued in one or more series in an aggregate principal amount not exceeding $90,000,000. The Bonds shall not be a general obligation of the City, nor a charge on its tax revenues. The Bonds shall be secured by and payable solely from the City’s rights of way (ROW) fees including franchise fees, fines, forfeitures or any other non-property tax revenues that the City pledges to pay or secure the Revenue Bonds pursuant to ORS 287A.150. The owners of the Bonds will not have a lien on or security interest in the urban renewal projects or any other property financed with the proceeds of the Bonds. If written petitions, signed by at least five percent (5%) of the City’s electors, are filed at the Office of the City Recorder on or before June 2, 2020 (the 60th day after publication of this Notice), the question of issuing Bonds in an aggregate principal amount not exceeding $90,000,000 shall be referred to a vote at the next lawfully available election date. Any such petition shall be subject to ORS 287A.150. The Resolution is available for inspection at the Office of the Beaverton City Recorder, located at Beaverton City Hall, 12725 SW Millikan Way, Beaverton, OR 97076. Information on procedures for filing petitions may also be obtained at such address or by telephone at (503) 526-2650. The Bonds will be issued and sold under Oregon Revised Statutes 287A.150; this Notice is published pursuant to ORS 287A.150(4). Catherine Jansen, City Recorder Publish April 2, 2020 TT159624

ad: 159624

Publication: OPC Legals 2

Section: Legals

Start Date: 2020/04/01

End Date: 2020/04/02

Owner: City of Beaverton


County: Washington