2001_0226_packet - Laserfiche WebLink

Home

EXTRACT OF MINUTES OF MEETING OF CITY COUNCII, CITY OF ROSEVII,LE RAMSEY COUNTY, MINNESOTA Pursuant to due ca11 and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota, was duly held in the City Hall at 2660 Civic Center Drive, Roseville, Minnesota, on Monday, February 26,200 1, at 6:30 o'clock p.m. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION 7�:XXX DECLARING THE OFFICIAL INTENT OF THE CITY OF ROSEVII,LE TO REIMBURSE CERTAIN EXPENDITURES ASSOCIATED WITH THE 2001 PMP FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.150-2 providing that proceeds of tax-exempt bonds used to reimburse prior expenditures will not be deemed spent unless certain requirements are met; and WHEREAS, the City expects to incur certain expenditures which may be financed temporarily from sources other than bonds, and reimbursed from the proceeds of a bond; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROSEVILLE (THE CITY) AS FOLLOWS: The City intends to make expenditures for the projects P-ST-SW-01 -09/ Neighborhood 18 and P-ST-S W-0 1- 1 0/ Neighborhood 15, and reasonably intends to reimburse itself for such expenditures from the proceeds of debt to be issued by the City. 2. This resolution is intended to constitute a declaration of official intent for purposes of Tres. Reg. 1.150-2 and any successor law, regulation, or ruling. The motion was duly seconded by and upon vote being taken thereon, the following voted in favor thereoi and and the following voted against: Whereupon said resolution was declared duly passed and adopted.