Laserfiche WebLink
CITY OF GEM LAKE, MIDI <br />City Hall - 44.200 Otter Lake Road <br />Gem Lake., MN 55.110 . <br />RESOLUTION NO..2017-22 <br />19 DECEMBER 2017 <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 bands to finance such improvements,. <br />NOW, THEREFOIME BEIT RESOLVED, thatt ie 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 9 Project Name Amount <br />GEMLK 143869 Schetmeman Road Reconstruction $860,0.00.00 <br />With the. proceeds of the. bonds. to be used. by the City in the maximum expected principal <br />amount of$860,000.00. <br />The notion for the. adoption.of the foregoingResolution was. offered by Councilor <br />and was supported by Councilor . and was declared adopted Based upon the following - <br />vote: <br />NAME UZPI<1,N LINDNER KUNY ARTIG- <br />SWOMLEY <br />Vote <br />Attest <br />1; 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 />1.9 Dece&ber 2017 <br />F SHOIt'1', City Clerk <br />Look for. us. on the World WideMeb.at gemlakemn.org <br />