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1' CITY OF GEM LAKE, MN <br />Cite Hall - 4200 Otter Lake Road 1 <br />._� Gear Lake, MN 55110 <br />RESOLUTION -NO. 2015-14 <br />18 AUGUST 201� <br />A RESOLUTION DECLARINC. OFFICIAL.I.NTkNT TO REIMBURSE <br />EXPENDITURES <br />NNTIEREAS, Federal regul6ti6hs-relating to tax-exempt.bdnds treat -bond procee& used <br />to :reimburse prior expenditures as expended only if certain requirements are met. <br />includitig as to some expenditures., the requirement of declaring.-ah-ofl`rcial huent .to <br />reimburse; and <br />WHEREAS, expenditures to be reimbursed have...beeh paid and will continue to. be.paid <br />by the City of Gem Lake for various improvement projects initiated under Minnesota <br />Statutes, Chapter 429, prior to the issuanee.ofbonds fio finance:such improvements, <br />WHEREAS; the project h45been which leas increased the projected project and - <br />costs and now requires City -Resolution No. 2b15-0 to. also be revised for the additional <br />project cost, <br />NOW, THEREFORE BE IT RESOLVED, that the City Council-offhe City of Gem <br />Lake hereby declares its intent to reimburse expenditures for .the.;improvement project. <br />listed below: <br />Reimburseinent <br />prajeet # Projeet. Name Amount <br />(3EMLK 130629 Municipal water -supply $700,00Q.0i}. <br />u!ith the proceeds of the bonds to be used by the City in the maximum e;cpected pririeipat <br />antourit of$700,000.00: <br />The motion for the adoption of the foregoing .Resolution was offered by Councilor <br />Bosak and was supported by Councilor Lindner and was -declared aif6pted based upon <br />the following vote: <br />NAME <br />CJZPEN Y <br />BOSAK <br />LINDNER <br />KUNY <br />I ARTJG-- <br />SWOMLEY <br />Vote <br />Yes: <br />Yes <br />I Yes <br />Yes <br />I Yes <br />Attest <br />1, W1LIJAM F. SHORT; the duly.qualified City Clerk .for the City of*Gem lake, <br />County ofRarnsey, State of Minnesota; do•hereby c.ertifv that the foregoing .Resolulion'is <br />Look for us on the Wortd Wide Web at Sw.dakenin.org <br />