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CITY OF GEM LAKE, MN <br />City Hall - 4200 Otter sake Road <br />Gem Lake,; MN 55110 <br />RESOLUTION N-M 2015-05 <br />21 A RIL 2015 <br />A. RESOLUT16N:DECLARING OFFICIAL INTENT TO REIMBURSE <br />EXPENDITURES <br />WHEREAS, Fed era l..regulations relating to tax-exempt bonds treat.bond-proceeds used <br />to re.imbuxp rse*prior eenditures as: expended. only if certain requirements aie riact, <br />including as to some eSpenditures, the requirement. o.f 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 Citybf Gem Lake for varibus improvement projects initiated under Minnesota <br />Statutes, Chapter 429,.pri:pr to the issuance -of bon& to finance such improvements, <br />NOW, THEREFORE BE IT. RESOLVED, thatther-City Council of the City .of Gem <br />Lake hereby declares its intent to reimburse:rxpenditures for the improvement.project <br />listed below, <br />Reimbursement <br />project# Project Name: Amount. <br />GEMLK 130629 Muniicipal Water Supply $500,000.00 <br />With the proceedsof the. bonds to be used by the. City in the maxiinum. expected principal <br />amount. of..$500,000.00. <br />The motion for the adoption of the foregoing Resolution was -offered by Councilor <br />and was supported by Councilor and was declared adopted based .upon -the following <br />vote; <br />NAME <br />UZPEN <br />BOSAK <br />�_LINDNER <br />KUNY <br />ARTIG . <br />SWOMLEY <br />Vote <br />Attest <br />I; WILLIAM R. $11ORT, 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'.acctu ate. representation..of action taken by the City Council of the City of Gem <br />Lake on the date first written. <br />WILLIAM F. SHORT, .City <br />took.foruson.the-World-Wide Web at.gemTakemn.grg. <br />