HomeMy WebLinkAbout2021-11RESOLUTION NO. 2021-11
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. 2103, consisting of Water Main
Construction on Buchanan Street from 37th Avenue to 39th Avenue; 39th Avenue from Buchanan Street to
Johnson Street; and Johnson Street from 37th Avenue to 39th 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 $840,000.
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 25" day of January, 2021
Offered by: Murzyn, Jr.
Seconded by: Novitsky
Roll Call: All Ayes
f
A da Marquez Sim ayor
Attest:
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Nicole Tingley, City Clgrk/&uncil