Laserfiche WebLink
AGENDA ITEM NO 1D <br />STAFF ORIGINATOR: David Ahrens, City Engineer/Public Works Director <br />DATE: June 20, 1996 <br />TOPIC: Resolution No. 96 - 67 Declaration of Intent to Bond, Various City <br />Projects <br />INTROP!JCTIDN: <br />The City of Lino Lakes is required by the Internal Revenue Service to declare its <br />intent to reimburse project costs from bond proceeds prior to encumbering <br />project costs City Council action is necessary to adopt the attached resolution. <br />BACKGROUND: <br />The City has recently ordered tw(vi, sjects that may be finer <br />proceeds. These projects inc <br />1. Pheasant Hills 7th Addition Street and Utility Improveme l <br />2. Centennial 111 l+dle'Sc ool Strom and Utility Irn rove e <br />3. Otter Lake Road Re <br />: Prc <br />The City must declare its intent thatitheCity may finance. <br />bond proceeds. This is non-bindingration that must t <br />projects in this manner. ExhtA► of the Resolution <br />each of the above projects. If the attached resolution is not: <br />ti red to find alternate methods of financing these pry <br />1. Not adopt Resolution No. 96 - 67. <br />2. Adopt Resolution No. 96 - 67 declaring the City's intent <br />through bond proceeds. <br />►TION: <br />nds that resolution No. 9fi - 67 be adopted. <br />through bond <br />fo <br />nance projects <br />