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AGENDA ITEM 6Eii <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: December 12, 2005 <br />TOPIC: Resolution No. 05 — 198, Declaring Official Intent to Reimburse Certain <br />Expenditures from the Proceeds of Bonds to be Issued by the City, Lois <br />Lane Utility Extension <br />VOTE REQUIRED: Simple Majority <br />BACKGROUND: <br />The City is required to declare its intent to reimburse project costs from bond proceeds <br />prior to encumbering project costs. This is a non - binding declaration that must take <br />place in order to finance projects in this manner. The Lois Lane Utility Extension may <br />be financed through bond proceeds. <br />4110 OPTIONS: <br />1. Return to staff for further review. <br />2. Adopt Resolution Number 05 — 198 Declaring Official Intent to Reimburse Certain <br />Expenditures from the Proceeds of Bonds to be Issued by the City for the Lois Lane <br />Utility Extension. <br />3. Not adopt Resolution No. 05 — 198. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution Number 05 — 198 be adopted. <br />