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P <br /> No. R -94 -23 <br /> CITY OF FALCON HEIGHTS <br /> COUNCIL RESOLUTION <br /> Date: 10/26/94 <br /> A RESOLUTION RELATING TO 1995 ALLEY IMPROVEMENT PROJECT DECLARING <br /> INTENT OF CITY TO REIMBURSE COSTS THEREOF WITH TAX EXEMPT DEBT <br /> BE IT RESOLVED, by the City Council of the City of Falcon Heights, <br /> Minnesota, the proposed 1995 alley project is as follows: <br /> 1. The proposed improvement consists of reconstructing the following alleys: <br /> NORTHOME NEIGHBORHOOD ALLEYS <br /> Between Larpenteur Ave. and California Ave. <br /> Arona to Pascal <br /> Pascal to Albert <br /> Between California and Idaho <br /> Arona to Pascal <br /> Pascal to Albert <br /> Between Idaho and Iowa <br /> Pascal to Albert <br /> The total estimated cost of the improvement is $150,000. <br /> 2. Intention to reimburse costs of improvement from proceeds of tax exempt <br /> debt: <br /> (1) The city intends to issue general obligation improvement bonds under <br /> and pursuant to Minnesota Statutes, Chapter 429 and 475 to <br /> finance the costs of the improvement (the "Improvement Bonds <br /> the interest on which will be excludable from gross income under <br /> Section 103 of the Internal Revenue Code of 1986, as amended. <br /> All or a portion of the cost of the improvement will be paid by the <br /> city prior to the issuance of the Improvement Bonds, and it is the <br /> intent of the city to reimburse the costs of the improvement paid <br /> by the city prior to the issuance of the Improvement Bonds from <br /> the proceeds of the Improvement Bonds. The reasonably <br />