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(T*^f <br />REQUEST FOR COUNCIL ACTION <br />JAN 2 7 2003 <br />CllYOI-OflONO <br />DATE: January 24,2003 <br />ITEM NO: <br />Department Approval: <br />Name RonMoorse <br />Title City Administrator <br />Administrator Reviewed:Agenda Section: <br />City Administrator's <br />Rep«t <br />Item Description: Resolution and Declaration of Official Intent Regarding Reimbursement of Costs <br />Related to the Navarre Fire Station <br />The Navarre neighborhood fire station will be financed through the issuance of bonds. The City will <br />incur costs related to the fire station prior to the sale of the bonds. These costs will initially need <br />to be paid from a source other than the bond proceeds. In order for the City to be able to reimburse <br />itself for these costs with bond proceeds, it is necessary for the Council to adopt a resolution and <br />Declaration of official Intent regarding the reimbursement. The resolution and Declaration of <br />Official Intent are attached for Council adoption and authorization. <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt the attached resolution establishing procedures relating to compliance with <br />reimbursement bond regulations under the Internal Revenue Code, and authorizing the City <br />Administrator to sign the attached Declaration of Official Intent.