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2005-158 Council Resolution
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2005-158 Council Resolution
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Last modified
9/12/2014 2:32:59 PM
Creation date
9/12/2014 1:46:09 PM
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City Council
Council Document Type
Master List Resolution
Meeting Date
10/24/2005
Council Meeting Type
Regular
Resolution #
05-158
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• The notice shall be published at least once, at least fourteen (14) days prior to the date of the public <br />hearing but not more than thirty (30) days prior to the date of the public hearing. <br />2.05 In accordance with Section 469.154 of the Act, the City Administrator is hereby <br />authorized and directed to cause a draft copy of the DEED Application, together with drafts of all <br />required attachments and exhibits, to be prepared by Kennedy & Graven, Chartered, as bond counsel. <br />The DEED Application, together with all attachments and exhibits, shall be made available for public <br />inspection in the office of the City Administrator during regular business hours of the City. The City <br />Administrator and other officers, employees, attorneys, and agents of the City are hereby authorized to <br />provide DEED with any information needed for this purpose, and the City Administrator is authorized to <br />initiate and assist in the preparation of such documents as may be appropriate to the Project. <br />• <br />• <br />Section 3. Official Intent. <br />3.01. Section 1.150 -2 of the Treasury Regulations, as amended, requires a declaration of intent <br />to reimburse an original expenditure with proceeds of tax - exempt obligations prior to the issuance of <br />such obligations in order to allocate such expenditures to the proceeds of such obligations. <br />3.02. The City Council hereby declares its preliminary intention to issue the Notes for the <br />Project, subject to compliance with the terms and conditions of the Act and final agreement between the <br />City, the Borrower, and the initial purchaser of the Notes as to the terms and conditions thereof. The <br />Borrower intends to make expenditures for the Project and the City and the Borrower intend to reimburse <br />the Borrower for such expenditures from the proceeds of the Notes. This resolution is intended to <br />constitute a declaration of official intent, for purposes of Section 1.150 -2 of the Treasury Regulations, <br />with respect to certain original expenditures made from any sources other than the proceeds of the Notes, <br />in conjunction with the Project. <br />3.03. The law firm of Kennedy & Graven, Chartered is authorized to act as bond counsel and <br />to assist in the preparation and review of necessary documents relating to the Project and the Notes to be <br />issued in connection therewith. The City Administrator and other officers, employees, and agents of the <br />City are hereby authorized to assist bond counsel in the preparation of such documents. <br />(The remainder of this page is intentionally left blank.) <br />2 <br />
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