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A RESOLUTION DECLARING INTENT TO <br />REIMBURSE POLICE VEHICLE COSTS <br />WITH EQUIPMENT CERTIFICATE PROCEEDS <br />BE IT RESOLVED By the City Council of the City of Orono, Minnesota as follows: <br />I. The City is acquiring two police cars and an SUV for use by the Police <br />Department. <br />2. This Council expects that a portion of the acquisition costs and related <br />expenses will be reimbursed from the proceeds of equipment certiflcates of indebtedness to be <br />issued by the City pursuant to Minnesota Statutes, Section 412.301. The maximum principal <br />amount of certificates to be issued for this purpose is $50,000. This resolution is for the <br />purpose of declaring the City's official intent for purposes of Treas. Reg. § 1.150-2. <br />3. The Finance Director shall solicit proposals for the sale of the certificates <br />from available financing sources for consideration by this Council at the regular council <br />meeting on Monday, February 11,2002. <br />Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held <br />January 28,2002. <br />Barbara A. Peterson, Mayor <br />ATTEST: <br />Linda S. Vee, City Clerk