Laserfiche WebLink
<br />(1) The Note is issued after August 7,1986; <br /> <br />(2) The Note is not treated as a "private activity bond" under Section <br />265(b)(3) of the Code; <br /> <br />(3) The City hereby designates the Note as a qualified tax-exempt obligation <br />for purposes of Section 265(b)(3) of the Code; <br /> <br />(4) The reasonably anticipated amount of tax-exempt obligations (other than <br />obligations described in clause (ii) of Section 265(b)(3)(C) of the Code) which will be issued by <br />the City (and all entities whose obligations will be aggregated with those of the City) during the <br />calendar year 2006 will not exceed $10,000,000; and <br /> <br />(5) Not more than $10,000,000 of obligations issued by the City during the <br />calendar year 2006 have been designated for purposes of Section 265(b )(3) of the Code. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by <br /> <br />member Pust, and after full discussion thereof and upon vote being taken thereon, the following <br /> <br />voted in favor thereof: Kough, Ihlan, Pust, Maschka and Klausing <br /> <br />and the following voted against the same: none. <br /> <br />whereupon said resolution was declared duly passed and adopted. <br /> <br />1909189vl <br /> <br />7 <br />