HomeMy WebLinkAbout2019-009 It
�- `iREN�HILLS
CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. 2019-009
A RESOLUTION ADOPTING POST-ISSUANCE DEBT COMPLIANCE POLICY FOR
TAX-EXEMPT AND TAX-ADVANTAGED GOVERNMENTAL BONDS
WHEREAS, the City of Arden Hills, Minnesota(the "City") from time to time will
issue tax-exempt and tax-advantaged governmental bonds; and
WHEREAS, under the Internal Revenue Code of 1986, as amended and related
regulations (the "Code"), and Securities and Exchange Commission(the "SEC")the City is
required to take certain actions after bond issuance to ensure that interest on those bonds
remains in compliance with the Code and SEC; and
WHEREAS, the City has determined to adopt a policy regarding how the City will carry
out its compliance responsibilities via written procedures, and to that end, has caused to be
prepared documents titled Post-Issuance Debt Compliance Policy and Post-Issuance Debt
Compliance Procedures; and
WHEREAS, The City Council (the "Council") of the City has reviewed the Post-
Issuance Debt Compliance Policy in connection with the Post-Issuance Debt Compliance
Procedures and has determined that it is in the best interest of the City to adopt the Policy.
THEREFORE, BE IT RESOLVED BY THE CITY OF ARDEN HILLS,
MINNESOTA; the Council approves the Policy as shown in the form attached; and
BE IT FURTHER RESOLVED; the City staff is authorized to take all actions
necessary to carry out the Post-Issuance Debt Compliance Policy and Post-Issuance Debt
Compliance Procedures.
ADOPTED THIS 25TH DAY OF MARCH, 2019, BY THE CITY COUNCIL OF
THE CITY OF ARDEN HILLS.
CITY OF ARDEN HILL
By:
David Grant, Mayor
ATT�ST:
Juli anson, City Clerk