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-2- 502686980 v1 <br />with maturities to be selected by the County at the price of par, plus accrued interest to the date <br />fixed for redemption; and <br /> WHEREAS, after due consideration it appears to the Board that debt service savings may <br />be obtained by refunding all or a portion of the 2010 Bonds through the issuance of a limited tax <br />general obligation refunding bond of the County in the aggregate principal amount of not to <br />exceed $6,750,000 (the “Bond”); and <br /> WHEREAS, in order to provide the funds required for such purpose, the County now <br />desires to authorize the issuance of the Bond; and <br /> WHEREAS, the County has received the offer of U.S. Bank National Association (the <br />“Bank”), dated January 8, 2020, to purchase the Bond, and the Board wishes to accept such offer <br />on the terms and conditions set forth therein and herein; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF KITTITAS COUNTY, WASHINGTON, as follows: <br /> Section 1. Definitions. As used in this resolution, unless a different meaning clearly <br />appears from the context: <br /> Acquired Obligations means the Government Obligations, if any, now or hereafter <br />acquired by the County under the terms of this resolution and the Escrow Agreement, if any, to <br />effect the defeasance and refunding of the Refunded Bonds. <br /> Approved Bid means the offer of the Bank dated January 8, 2020. <br /> Bank means U.S. Bank National Association, Seattle, Washington, and any business <br />successor thereto. <br />Board means the Board of County Commissioners, the general legislative body of the <br />County, as constituted from time to time.