HomeMy WebLinkAbout2017-056 (approving Exhibit A as it relates to Resolution 2013-057, resolution establishing procedures relating to compliance with reimbursement bond regulations under the Internal Revenue Code) RESOLUTION 2017-056
APPROVING EXHIBIT A AS IT RELATES TO RESOLUTION 2013-057
RESOLUTION ESTABLISHING PROCEDURES
RELATING TO COMPLIANCE WITH REIMBURSEMENT BOND
REGULATIONS UNDER THE INTERNAL REVENUE CODE
Declaration of Official Intent
The duly appointed and acting Finance Director of the City of Stillwater, Minnesota (the
"City"), pursuant to and for purposes of compliance with Treasury Regulations, Section 1.150-2
(the "Regulations"), under the Internal Revenue Code of 1986, as amended, hereby states and
certifies on behalf of the City as follows:
1. The undersigned has been and is on the date hereof duly authorized by the City
Council of the City to make and execute this Declaration of Official Intent (the "Declaration")
for and on behalf of the City.
2. This Declaration relates to the following project, property or program (the
"Project") and the costs thereof to be financed:
• $1,250,000 -Police Department/City Hall Remodel Project(Phase II)
• $68,000 -Public Works Security Improvements
• $600,000 -2017 Street Improvement Project(City's Share)
• $100,000 -Paver Renovation(Library)
• $1,717,150 -2017 Capital Outlay Purchases
3. Each expenditure to be reimbursed from the Bonds is or will be a capital
expenditure or a cost of issuance, or any of the other types of expenditures described in Section
1.150-2(d)(3) of the Regulations.
4. As of the date hereof, the statements and expectations contained in this
Declaration are believed to be reasonable and accurate.
Adopted by the Stillwater City Council this 21st day of March, 2017.
Mi hael Polehna, Vice Mayor
ATTEST:
/aegle-e d2Zte__,
Diane F. Ward City Clerk