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2021.07.19 RESO 2021-45 Procedures for Reimbursement Bond Reg
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2021.07.19 RESO 2021-45 Procedures for Reimbursement Bond Reg
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8/3/2021 4:14:13 PM
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City Council
Document Type
Resolutions
Meeting Date
7/19/2021
Meeting Type
Regular
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officials are hereby authorized to consult with bond counsel to the City concerning the <br />requirements of the Regulations and their application in particular circumstances. <br />(d) The Council shall be advised from time to time on the desirability and <br />timing of the issuance of reimbursement bonds relating to project expenditures for which <br />the City has made Declarations. <br />3. Reimbursement Allocations. If the City is acting as the issuer of the <br />reimbursement bonds, the designated City officials shall also be responsible for making the <br />"reimbursement allocations" described in the Regulations, being generally written allocations <br />that evidence the City's use of the applicable bond proceeds to reimburse the original <br />expenditures. <br />4. Effect. This Resolution shall amend and supplement all prior resolutions and/or <br />procedures adopted by the City for compliance with the Regulations (or their predecessor <br />versions), and, henceforth, in the event of any inconsistency, the provisions of this Resolution <br />shall apply and govern. <br />Adopted on July 19, 2021, by the City Council of the City of Hugo, Minnesota. <br />ATTEST: <br />Michele Lindau, City Clerk <br />e <br />Tom Weidt, Mayor <br />2 <br />
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