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CITY OF GEM LAKE, MN <br />-411 Af City HAIL 4200 Otter Lake Road <br />Gem Lake, MN 55110 <br />RESOLUTION NO. 2015-14 <br />18 AUGUST 2.015 <br />A RESOLUTION DECLARING OFFICIAL INTENT TO REIMBURSE <br />EXPENDITURES <br />WHEREAS; Federal regulatioris.relathig.to tax-exempt bonds,treat bond procee&used <br />to reimburse. prior expenditures as expended only if certain requirements are rnet, <br />incl ding as. to some expenditures, the.. requirement of .declaring an official intent to <br />reimburse; and <br />WHEREAS; expenditures to be reimbursed J*v.e- 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 ofbonds:to. finance -such improvements, <br />WHEREAS, the project has been revised, which has *increased the projected project and. <br />costs and now requires Cif* Resolution No.-2015,05-v also be revised for - the additional <br />project cost, <br />+ NOW, THEREFORE BE IT RESOLVED, that the City Council of'the City of Gem <br />Lake hereby declares its-intont to reimburse expenditures for the improvement project <br />listed below: <br />Reimbursement <br />Project # Project Name Amount <br />GCMLk-130629. Municipal Water Supply $7001000.00 <br />With the proceeds of the bonds -to be used by the City in the -maximum expected principal <br />.amnount of $700,000.00. <br />The motion%for the. adoption of the foregoing Resolution Was offered by Councilor <br />and was supported by Q.uncilor and was declared adopted based upon tile*following <br />NAME <br />UZPEN <br />BOSAK <br />LINDNER <br />KUNY__J <br />ARTIG- <br />SWOMLEY <br />Vote <br />Attest <br />.1, WILLIAM V. SHORT, the duly qualified City Clerk for the City ofGem Lake, <br />.County of Ramsey; State of Minnesota, do hereby cgr*. . that -the foregoing Resolution is <br />LQ*fbr.us.9ir1he World Wide Web atgemlakemn.ora <br />