Laserfiche WebLink
A RESOLUTION DECLARING INTENT TO REIMBURSE POLICE VEHICLE <br />COSTS AND PUBLIC WORKS CAPITAL EQUIPMENT COSTS <br />WITH EQUIPMENT CERTIFICATE PROCEEDS <br />BE IT RESOLVED By the City Council of the City of Orono, Minnesota as follows: <br />1. The City is acquiring three police cars for use by the Police Department. <br />2. The City is acquiring a pick up truck, a roadside raower/sweeper, and a brush <br />chipper for use by the Public Works Department. <br />3. This Council expects that a portion of the acquisition costs and related expenses <br />will be reimbursed from the proceeds of equipment certificates of indebtedness to be issued by the <br />City pursuant to Minnesota Statutes, Section 412.301. The maximum principal amount of certificates <br />to be issued for this purpose is $208,000. This resolution is for the purpose of declaring the City’s <br />official intent for purposes of Treas. Reg. § 1.150-2. <br />3. The Finance Director shall solicit proposals for the sale of the certificates from <br />available financing sources for consideration by this Council at the regular council meeting on <br />Monday, March 22,2004. <br />Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held <br />February 23,2004. <br />Barbara A. Peterson, Mayor <br />ATTEST: <br />Linda S. Vee, City Clerk <br />Word Pw*cfNTOMtoiMM«l <br />Ll