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Resolution 8566
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Resolution 8566
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Last modified
6/25/2019 10:08:23 AM
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5/10/2016 3:04:54 PM
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MV City Council
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expenditures" includes architectural, engineering, surveying, soil testing, bond issuance <br /> and similar costs that are incurred prior to commencement of acquisition, construction, or <br /> rehabilitation of the Project, excluding land acquisition, site preparation, and similar costs <br /> incident to commencement of construction. <br /> 4. A reimbursement allocation with respect to tax-exempt bonds will be made <br /> not later than 18 months after the later of: (i) the date the original expenditure is paid; or <br /> (ii) the date the Project is placed in service or abandoned, but in no event more than 3 <br /> years after the original expenditure. <br /> 5. This Declaration is an expression of the reasonable expectations of the City <br /> based on the facts and circumstances known to the City as of the date hereof. The <br /> anticipated original expenditures for the Project and the principal amount of the tax-exempt <br /> bonds described in paragraph 2 are consistent with the City's budgetary and financial <br /> circumstances. No sources other than proceeds of tax-exempt bonds are reasonably <br /> expected to be reserved, allocated on a long-term basis, or otherwise set aside pursuant <br /> to the City's budget or financial policies to pay such expenditures for which bonds are <br /> issued. <br /> 6. The action is intended to constitute a declaration of official intent for <br /> purposes of the Reimbursement Regulations. <br /> Adopted this 9th day of May, 2016 <br /> i / <br /> "v ' <br /> e Flaherty, ' . or <br /> ATTEST: <br /> j-F4/1/Llk fez- .--- <br /> James Ericson, City Administrator <br /> (SEAL) <br />
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