HomeMy WebLinkAboutResolution 4922 �
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� RESOLUTION OF THE CITY COUNCIL
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A RESOLUTION DECLARING INTEI�T TO
REIMBURSE POLICE VEHICLE 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. 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 $75,000. 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,February 24,2003. �
Adopted by the City Council of the City of Orono,Minnesota at a regular meeting held
. January 27,2003.
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Barbara A. Peterson,Mayor
ATTEST:
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Linda S. Vee, City Clerk �
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