HomeMy WebLinkAboutRES.897.02-23-1994 BILL NO. 9�-39 RESOLUTION NO. ;����
A R�SOLUT��N DEC�A,RING THE JNTENT UP THE CITY OF
CA�'E GTRARU�AU, MTSSOURT TO RETMBY7RSE ITSELF FROM
BOND PROCEEDS FOR CERTAIN CAFITAL EXPENDITURES.
BE IT RESO[,v�D BX T�;iB C4UNC�L OF THE CITY OF CAPE GYRARD�AU, MISSOURI,
AS FOLLOWS:
Seetion 1. The Cicy expects to incur capital expenditures on and aftez t11e date of adoption of this
Resolut�on (tl�e "'Expenditures") in coruiection with (1) the extension of water and sewer mains to tktie
Twin Lalces subdivision and the construction ef latezal water and s�wer lines within Twin Lakes
subdivisian and (2} improvements to �he C.iry landfill in connection with tl�e closing of the Iandfill. The
City intends #o reimburse itself for such Expendicures with the proceeds of ieasehold zevenue bonds to
be issued by the Cape Gzzardeau (Missouri) Public Facili�ies Auchority (the "Bonds") in an amount whzch.
depending on the date of issuance of che Bonds, may aggregate a n�axiz�u�ax of S2,750,000. The Cit}�
Cou3�cil l�as deteztzained kha[the funds �o be advanc�d to pay the Expendicures are or will be avaxlablc only
f�r a temporary period and it is necessary to reimburse the City for �xpenditures made on and after the
date hereof. As of the date tleze�f, there are no funds from sources other than the Bonds tl�at are, or are
reasonably expecced to be, reserved, allocated on a long-tezzn basis, or other��ise sec aside by the City
to pay the Expenditures. This �eso�ucion consci�uces a deClaration of official incezac under Treasury
Regulation Section 1.103-18 issued under che Internal Reve�ue Code of 1986, as aniended, and the
adoption of this Resolutio�i is consist�n� with che bud�etary and financial circuinstacices �f[he Cicy.
Section 2. Public Availabilitv. This hesolution shall be made available for public inspection
during normal business lxouzs at the main administrative of�ce of the City or ti�e customary tocation of
the Ciiy's rccords that are available io the gezieral publiC, beginning within 30 days after its adoption and
coz�tinuing until the Bonds are issued.
Sectt�n 3. This Resolution shell be in full fprce at�d effect from and af[er its �assage.
PASSED by the City Cout]Cil [hic 23rd day of Februacy, 1994.
(S�AL) �� `
Ma or �L���-
ATTEST:
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Deput Ciry Clerk