HomeMy WebLinkAbout2023-016RESOLUTION NO. 2023-16
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 2305 consisting of 53rd Avenue
Street Reconstruction, Trail, and Sidewalk 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 $500,000.
2. The City reasonably intends to make expenditures for Project Number 2007 consisting of 53rd Avenue
Turnabout and Trail construction 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
$250,000.
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 27th day of February, 2023
Offered by: Jacobs
Seconded by: Spriggs
Roll Call: All Ayes
Amapa Marque! Simula, IL byor
Attest:
Sara Ion. Citv Clerk/Council Secretary