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<br />r.-" <br />.. Administrator Comments for the April 14, 1997 City Council Meeting <br /> Page Three <br /> April 11, 1997 <br />. <br />I Development Authority. Specifically, this resolution transfers all financial <br /> obligations of Fund 522, including all TIF Districts to the EDA. The EDA <br /> will oversee these activities. <br />. 3. Resolution #97-19. Resolution establishing procedures relating to <br /> compliance with reimbursement bond rel!:ulations under the Internal <br />. Revenue code <br /> The City Council is asked to adopt Resolution #97-19, establishing <br /> procedures relating to compliance with reimbursement bond regulations <br />. under the Internal Revenue Code. Adopting this resolution allows the City <br /> to reimburse itself from future bond proceeds for any expenditures <br /> incurred prior to bonds being issued. These costs could include any staff <br />. time, engineering, legal, property acquisitions, etc.... which occur in the <br /> development of the Gateway Business District prior to the issuance of a <br /> General Obligation TIF Bond. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />~ <br />. <br />