HomeMy WebLinkAbout2022-021RESOLUTION NO. 2022-21
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
1. The City reasonably intends to make expenditures for Project Number 2202 consisting of Zones 6 and 7
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
$1,275,000.
2. The City reasonably intends to make expenditures for Project Number 2206 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 $125,000.
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 14"' day of February, 2022
Offered by: Jacobs
Seconded by: Novitsky
Roll Call: All Ayes
Ama a Marquez Simula, Mayor
Attest:
Sara I , City Clerk/Council Secretary