HomeMy WebLinkAbout2025-028 Intent to Bond for 2025 Alley Construction ProjectRESOLUTION NO. 2025-28
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 2506 consisting of 2025 Alley
Construction on the following alleys:
1. Heights Drive to Stinson Boulevard, 45th Avenue to Heights Drive, and
2. 5th Street to 6th Street, 47th Avenue to 48th Avenue, and
3. Tyler Street to Polk Street, 415t Avenue to 42"d Avenue, and
4. Jackson Street to Van Buren Street, 42"d Avenue to 43rd Avenue, and
5. University Avenue Service Road to 4th Street, 49th Avenue to 50th Avenue, and
6. Reservoir Boulevard to Tyler Street, 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 $800,000.
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 24th day of February, 2025
Offered by: Buesgens
Seconded by: Deneen
Roll Call: All Ayes
4A6da Marc ez Sim , Mayor
Attest:
Sara Ion, City Clerk/Council Secretary