HomeMy WebLinkAbout2015-141' CITY OF GEM LAKE, MN
Cite Hall - 4200 Otter Lake Road 1
._� Gear Lake, MN 55110
RESOLUTION -NO. 2015-14
18 AUGUST 201�
A RESOLUTION DECLARINC. OFFICIAL.I.NTkNT TO REIMBURSE
EXPENDITURES
NNTIEREAS, Federal regul6ti6hs-relating to tax-exempt.bdnds treat -bond procee& used
to :reimburse prior expenditures as expended only if certain requirements are met.
includitig as to some expenditures., the requirement of declaring.-ah-ofl`rcial huent .to
reimburse; and
WHEREAS, expenditures to be reimbursed have...beeh paid and will continue to. be.paid
by the City of Gem Lake for various improvement projects initiated under Minnesota
Statutes, Chapter 429, prior to the issuanee.ofbonds fio finance:such improvements,
WHEREAS; the project h45been which leas increased the projected project and -
costs and now requires City -Resolution No. 2b15-0 to. also be revised for the additional
project cost,
NOW, THEREFORE BE IT RESOLVED, that the City Council-offhe City of Gem
Lake hereby declares its intent to reimburse expenditures for .the.;improvement project.
listed below:
Reimburseinent
prajeet # Projeet. Name Amount
(3EMLK 130629 Municipal water -supply $700,00Q.0i}.
u!ith the proceeds of the bonds to be used by the City in the maximum e;cpected pririeipat
antourit of$700,000.00:
The motion for the adoption of the foregoing .Resolution was offered by Councilor
Bosak and was supported by Councilor Lindner and was -declared aif6pted based upon
the following vote:
NAME
CJZPEN Y
BOSAK
LINDNER
KUNY
I ARTJG--
SWOMLEY
Vote
Yes:
Yes
I Yes
Yes
I Yes
Attest
1, W1LIJAM F. SHORT; the duly.qualified City Clerk .for the City of*Gem lake,
County ofRarnsey, State of Minnesota; do•hereby c.ertifv that the foregoing .Resolulion'is
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a true and accurate representation -of action taken by the City Council of the City of Genf
Lake on the date first written.
ILLIAM F. SHORT, City Clerk
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