HomeMy WebLinkAboutResolution 5122 � o� �
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CITY of ORON4
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RESOLUTION OF THE CITY COUNCIL
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A RESOLUTION DECLARING INTENT TO REIMBURSE POLICE VEHICLE
COSTS AND PUBLIC WORKS CAPITAL EQUIPMENT COSTS
WITH EQUIPMENT CERTIFICATE PROCEEDS
BE IT RESOLVED By the City Council of the City of Orono, Minnesota as follows:
1. The City is acquiring three police cars for use by the Police Department.
2. The City is acquiring a pick up truck, a roadside mower/sweeper, and a brush
chipper for use by the Public Works Department.
3. This Council expects that a portion of the acquisition costs and related expenses
will be reimbursed from the proceeds of equipment certificates of indebtedness to be issued by the
• City pursuant to Minnesota Statutes, Section 412.301. The maximum principal amount of certificates
to be issued for this purpose is $208,000. This resolution is for the purpose of declaring the City's
official intent for purposes of Treas. Reg. § 1.150-2.
3. The Finance Director shall solicit proposals for the sale of the certificates from
available financing sources for consideration by this Council at the regular council meeting on
Monday,Mazch 22,2004.
Adopted by the City Council of the City of Orono,Minnesota at a regular meeting held
February 23, 2004. '
Barbara A. Peterson,Mayor
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Linda S. Vee, City Clerk �
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