HomeMy WebLinkAbout2019-38RESOLUTION NO. 2019-38
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
1. The City reasonably intends to make expenditures for 37th Avenue State Aid Street Rehabilitation, Project
No. 1907, on 37th Avenue from 5th Street to Central 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 $245,000.
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 8th day of April, 2019
Offered by: Murzyn Jr
Seconded by:Buesgens
Roll Call: All Ayes
Lm;8 �1' jk��t
Donna K. Schmitt, Mayor
Attest:
Kelli Bourgeoi C y Manager