2005-158 Council Resolution - Laserfiche WebLink

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