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CITY OF GEM LAKE, MN <br />'4'14f City Hall - 4200 Otter Lake Road <br />'MIA A Gem Lake, MN 55110 <br />RESOLUTION NO.2015-05 <br />21 APRIL 2015 <br />A RESOLUTION DECLARING OFFICIAL INTENT TO REIMBURSE <br />EXPENDITURES <br />WHEREAS, Federal regulations relating to tax-exempt bonds treat bond proceeds used <br />to reimburse prior expenditures as expended only if certain requirements are met, <br />including as to some expenditures, the requirement of declaring an official intent to <br />reimburse; and <br />WHEREAS, expenditures to be reimbursed have been 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 issuance of bonds to finance such improvements, <br />NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Gem <br />Lake hereby declares its intent to reimburse expenditures for the improvement project <br />listed below: <br />Reimbursement <br />Project # Project Name Amount <br />GEMLK 130629 Municipal Water Supply $500,000.00 <br />With the proceeds of the bonds to be used by the City in the maximum expected principal <br />amount of $500,000.00. <br />The motion for the adoption of the foregoing Resolution was offered by Councilor <br />Artig Swomley and was supported by Councilor Lindner and was declared adopted <br />based upon the following vote: <br />NAME, <br />UZPEN <br />BOSAK <br />LINDNER <br />KUNY <br />ARTIG- <br />SWOMLEY <br />Vote <br />Yes <br />Yes <br />Yes <br />Yes <br />Yes <br />Attest <br />I, WILLIAM F. SHORT, the duly qualified City Clerk for the City of Gem Lake, <br />County of Ramsey, State of Minnesota, do hereby certify that the foregoing Resolution is <br />a true and accurate representation of action taken by the City Council of the City of Gem <br />Lake on the date first written. <br />SHORT, City Clerk <br />Look for us on the World Wide Web at gemlakemn.org <br />