HomeMy WebLinkAbout2024-030 Intent to Bond for 2024 Alley Construction ProjectRESOLUTION NO. 2024-30
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 Number 2406 consisting of 2024 Alley
Construction from Jackson Street to Van Buren Street, 163' North of 40th Avenue to 415t Avenue; Van
Buren Street to Central Avenue, 490' South of 415t Avenue to 415t Avenue; Monroe Street to Quincy Street,
441h Avenue to 451h Avenue; Polk Street to Taylor Street, 46th Avenue to 471h Avenue; Taylor Street to
Fillmore Street, 461h Avenue to 47th 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 $600,000.
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.
Passed this 8th day of April, 2024
Offered by: Jacobs
Seconded by: Spriggs
Roll Call: All Ayes
ORDER OF COUNCIL
ma a M6rque.-5imula, Mayor
Attest:
Sara Ion, City Clerk/Council Secretary