HomeMy WebLinkAbout2018-30RESOLUTION NO. 2018-30
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 State Aid Street Rehabilitation, Project No. 1805, on
Main Street NE from 37th Avenue to 401h Avenue and on 37th Avenue NE from Main Street to 5th 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 amount of $225,000.
2. 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 14th day of May, 2018
Donna Schmitt, Mayor
Katie Bruno, City Clerk /Council Secretary