Laserfiche WebLink
RESOLUTION NO. 10969 <br /> RESOLUTION ESTABLISHING PROCEDURES AND POLICIES <br /> RELATING TO POST ISSUANCE COMPLIANCE <br /> UNDER THE INTERNAL REVENUE CODE UPON THE ISSUANCE OF <br /> GOVERNMENTAL BONDS <br /> BE IT RESOLVED by the City Council (the "Council") of the City of Roseville, Minnesota(the <br /> "City"), as follows: <br /> 1. Recitals. <br /> (a) In order to comply with the ongoing compliance of governmental bonds issued by <br /> the City with the Internal Revenue Code of 1986, as amended (the "Code"), and the Treasury <br /> Regulations promulgated thereunder(the "Regulations"), including the record retention <br /> requirements of Code Section 6001 and Section 1.6001(a) of the Treasury Regulations, the City <br /> Council has the overall, final responsibility for monitoring whether the City is in compliance <br /> with post-issuance federal requirements for the City's governmental bonds. <br /> (b) The City's bond counsel has prepared for use by the City a document entitled <br /> "Governmental Bonds Post-Issuance Compliance Policies and Procedures" (the "Policies and <br /> Procedures"). <br /> (c) The Policies and Procedures are internal operating procedures to be used by the <br /> City's management in connection with the issuance and sale of all issues of governmental bonds <br /> and the City's bond counsel advises the City to approve the Policies and Procedures. <br /> 2. Approval of Policies and Procedures. The City hereby approves the Governmental <br /> Bonds Post-Issuance Compliance Policies and Procedures in substantially the form presented to the City <br /> Council. <br /> Adopted on February 27, 2012, by the City Council of the City of Roseville, Minnesota. <br />