HomeMy WebLinkAboutRES.869.10-04-1993 _, a .
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BILL NO. 93-234 RESOLUTION NO. �l
RESOLUTION DETERMINING THE INTENT OF THE CITY
OF CAPE GIRARDEAU, MISSOURI TO REIMBURSE
ITSELF FROM THE PROCEEDS OF A BORROWING FOR
CERTAIN EXPENDITURES TO BE MADE IN CONNECTION
WITH A CAPITAL IMPROVEMENT PROJECT
WHEREAS, the City of Cape Girardeau, Missouri (the "Issuer")
is a political subdivision organized and existing under the
Constitution and laws of the State of Missouri ; and
WHEREAS, the Issuer expects to incur expenditures on and after
the date hereof (the "Expenditures") in connection with closure and
post closure plans for the Cape Girardeau Municipal Landfill (the
"Project") ; and
WHEREAS, the Issuer expects that a portion of the Expenditures
will include costs of architectural, engineering, surveying and
similar tests ("Preliminary Expenditures") incurred with respect to
the Project which shall not exceed, in the aggregate twenty (20)
percent of the issue price of the Debt, as hereinafter defined; and
WHEREAS, the City Council of the Issuer has determined that
the funds to be advanced to pay the Expenditures are or will be
available for a temporary period and it is necessary to reimburse
the Issuer for the Expenditures made on and after the date hereof
with respect to the Project from the proceeds of a borrowing; and
WHEREAS, as of the date hereof, there are no funds from
sources other than the Debt that are, or are reasonably expected to
be, reserved, allocated on a long-term basis, or otherwise set
aside by the Issuer or of any member of the same controlled group
as the Issuer (the "Controlled Group") pursuant to their budgets or
financial policies with respect to the Expenditures;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
CAPE GIRARDEAU, MISSOURI , AS FOLLOWS:
ARTICLE 1 . The City Council hereby declares the intent of the
Issuer to reimburse itself for Expenditures made on and after the
date hereof with respect to the Project with proceeds of Debt to be
incurred by the Issuer. The maximum principal amount of Debt
expected to be issued for such reimbursement is Six Hundred Fifty-
Seven Thousand Four Hundred Forty Dollars ($657 , 440 . 00) .
ARTICLE 2 . This Resolution shall constitute a declaration of
official intent under Treasury Regulation Section 1. 103-18 to the
extent that such a declaration is required to comply with that
Regulation. To the extent that such a declaration is not required
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for the reimbursement of Preliminary Expenditures, such Preliminary
Expenditures are not included in this declaration.
ARTICLE 3 . The Expenditures are "capital expenditures, " as
defined in Treasury Regulation Section 1. 150-1 (h) .
ARTICLE 4 . The adoption of this Resolution is consistent with
the budgetary and financial circumstances of the Issuer.
ARTICLE 5 . This Resolution shall be placed in the official
records of the Issuer within a reasonable period of time after its
adoption by the City Council . This Section shall be deemed
satisfied if the Issuer complies with applicable State or local
laws governing the public availability of records of official acts
of the actual issuer of the Debt.
ARTICLE 6 . This Resolution shall take effect and be in full
force immediately after its adoption by the City Council.
PASSED AND ADOPTED THIS � DAY OF (+�".Ci,IJ�?��) , 19�.
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� :� <"' � Francis E. Rhodes, Mayor
sS ATTEST
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Gayl L. Conrad, Deputy City Clerk
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