HomeMy WebLinkAbout2017-21RESOLUTION NO. 2017 -21
A resolution of the City Council for the City of Columbia Heights, Minnesota,
WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.140.2 providing that proceeds of tax exempt
bond used to reimburse prior expenditures will be not be deemed spent unless certain requirements are met;
and,
WHEREAS, the City of Columbia Heights (the "City ") expects to incur certain expenditures which may be
financed temporarily from sources other than bonds, and reimbursed from the proceeds of a bond;
Now, therefore, in accordance with the foregoing, and all ordinances and regulations of the City of Columbia
Heights, the City Council of the City of Columbia Heights makes the following:
FINDINGS OF FACT
The City reasonably intends to make expenditures for Project No. 1703 consisting of Water Main
Construction on Main Street and reasonably intends to reimburse itself for such expenditures from the
proceeds of debt to be issued by the City in one or more series in the maximum principal amountof
$325,000.
2. The City reasonably intends to make expenditures for Project No. 1706 consisting of Storm Sewer
Construction on 40th Avenue and reasonably intends to reimburse itself for such expenditures from the
proceeds of debt to be issued by the City in one or more series in the maximum principal amount of
$217,000.
3. This resolution is intended to constitute a declaration of official intent for purposes of Tres. Reg. 1.150 -2
and any successor law, regulating or ruling.
ORDER OF COUNCIL
Passed this 27th day of March, 2017
Offered by: Buesgens
Seconded by: Williams
Roll Call: All Ayes
Donna Schmitt, Mayor
Attest:
1�
Katie Bruno, City Clerk /Council Secretary