Laserfiche WebLink
STAFF ORIGINATOR <br />AGENDA ITEM 11B <br />John Vowel. <br />DATE June 7. 1996 <br />TOPIC <br />BACKGROU <br />Consideration of Resolution No. 96-5 <br />Declaration of Intent to Bond <br />Elevated Water Storage Tank No. 2 <br />As required by the internal Revenue Code, the City of Lino lake must declare intent <br />to reimburse project costs from bond issLe proceeds prior to making any expenditures <br />for construct) in or land acquisition. This declaration must be made in the form of a City <br />Council resolution. <br />The attached resolution for Elevated Water Storage Tank No. 2 is nearly i n ical to <br />Resolution No. passed by the Gourd on May 13th, 1996, only dif rennce <br />being this resolution is for a sre lotion w� <br />multiple projects. This resolute is a nding dec aration wt r t be m de to <br />allow the project to be financed usir r i pr?oceeds.: If the alt l d r iu on i 'not <br />adopted, the City will be required to clentfi r alternate methods of finanamg this prayed. <br />2. <br />I Ili n No. 96-58 Declaring the City's Intent to Bond for Elevated Water <br />Storage Tank No. 2. <br />Resolution No. 96 <br />BECOMEMRATIM <br />OPTION NO. 1 Adopt Resolution Na. 96-68 Declaring the C <br />Elevated Water Storage Tank No. 2. <br />Intent to Bond for <br />