Hydro-dynamical modeling of the inner Galaxy suggest that the radius of the outer Lindblad resonance (OLR) of the Galactic bar lies in the vicinity of the Sun. How does this resonance affect the distribution function in the outer parts of a barred disk, and can we identify any effect of the resonance in the velocity distribution f(v) actually observed in the solar neighborhood? To answer these questions, detailed simulations of f(v) in the outer parts of an exponential stellar disks with nearly

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... flat rotation curves and a rotating central bar have been performed. For a model resembling the old stellar disk, the OLR causes a distinct feature in f(v) over a significant fraction of the outer disk. For positions <2kpc outside the OLR radius and at bar angles of \~10-70 degrees, f(v) inhibits a bi-modality between the low-velocity stars moving like the local standard of rest (LSR) and a secondary mode of stars predominantly moving outward and rotating more slowly than the LSR. Such a bi-modality is indeed present in f(v) inferred from the Hipparcos data for late-type stars in the solar neighborhood. If one interpretes this observed bi-modality as induced by the OLR -- and there are hardly any viable alternatives -- then one is forced to deduce that the OLR radius is slightly smaller than Ro. Moreover, by a quantitative comparison of the observed with the simulated distributions one finds that the pattern speed of the bar is 1.85+/-0.15 times the local circular frequency, where the error is dominated by the uncertainty in bar angle and local circular speed. Also other, less prominent but still significant, features in the observed f(v) resemble properties of the simulated velocity distributions, in particular a ripple caused by orbits trapped in the outer 1:1 resonance.