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• <br />CITY OF FALCON HEIGHTS <br />COUNCIL RESOLUTION <br />No. R-94-23 <br />Date: 10/26/94 <br />A RESOLUTION RELATING TO 1995 ALLEY IMPROVEMENT PROJECT DECLARING <br />INTENT OF CITY TO REIMBURSE COSTS THEREOF WITH TAX-EXEMPT DEBT <br />BE IT RESOLVED, by the City Council of the City of Falcon Heights, <br />Minnesota, the proposed 1995 alley project is as follows: <br />1. The proposed improvement consists of reconstructing the following alleys: <br />NORTHOME NEIGHBORHOOD ALLEYS <br />• Between Larpenteur Ave. and California Ave. <br />- Arona to Pascal <br />• - Pascal to Albert <br />• Between California and Idaho <br />- Arona to Pascal <br />- Pascal to Albert <br />• Between Idaho and Iowa <br />- Pascal to Albert <br />debt: <br />The total estimated cost of the improvement is S 143,000. <br />2. Intention to reimburse costs of improvement from proceeds of tax-exempt <br />(1) The city intends to issue general obligation improvement bonds under <br />and pursuant to Minnesota Statutes, Chapter 429 and 475 to <br />finance the costs of the improvement (the "Improvement Bonds"), <br />the interest on which will be excludable from gross income under <br />Section 103 of the Internal Revenue Code of 1986, as amended. <br />All or a portion of the cost of the improvement will be paid by the <br />city prior to the issuance of the Improvement Bonds, and it is the <br />intent of the city to reimburse the costs of the improvement paid <br />• by the city prior to the issuance of the Improvement Bonds from <br />the proceeds of the Improvement Bonds. The reasonably <br />