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<br />Item No: 8.D. <br />Meeting Date: May 9, 2016 <br />Type of Business: Council Consent <br />Administrator Review: _____ <br /> <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 8566 Declaring the Official Intent of the <br />City of Mounds View, Minnesota, to Reimburse <br />Certain Capital Expenditures of a Project From the <br />Proceeds of Tax Exempt Bonds <br /> <br /> <br />The City is considering constructing a public works facility and issuing tax-exempt <br />bonds to finance the construction. It is prudent to adopt a reimbursement <br />resolution in the event that expenditures are incurred prior to the issuance of the <br />bonds. This will allow the City to repay any preliminary expenditures from bond <br />proceeds should the City decide to move forward. This resolution does not commit <br />the City to any future actions it is just a preliminary step that allows flexibility <br />regarding repayment of any preliminary expenditures. This resolution was <br />prepared by the City’s bond council at Kennedy & Graven. <br /> <br />Respectfully Submitted, <br /> <br /> <br />____________________ <br />Mark Beer <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />