HomeMy WebLinkAbout2021-14RESOLUTION NO.2O2L-I4
A resolution of the City Council for the City of Columbia Heights, Minnesota,
WHEREAS, the lnterna! Revenue Service has issued Tres. Reg. L.L4O-2 providing that proceeds of tax exempt
bond used to reimburse prior expenditures will be not be deemed spent unless certain requirements are meq
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 Project Number 2002 consisting of Zones 48 and 5
Street Rehabilitation Program 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
S1,275,000.
2. The City reasonably intends to make expenditures for Project Number 2005 consisting of State Aid Street
Rehabilitation 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 5125,000.
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 8th day of Februa ry,2O2L
Offered by:
Seconded by:
Roll Call:
Novitsky
M u rzyn, Jr.
All Ayes
i/,,ilild,*L
ir[ $, tvtayor
Attest:
\
Nicole Tingl€y, City ncil Secretary