HomeMy WebLinkAboutResolution 4752 �---- '
� O�
• O O
��b. - CITY of ORONO
� � � �
'�' RESOLUTION OF THE CITY COUNCIL
��`qkE p�'�'G NO. � � � �
�S� �
A RESOLUTION DECLARING 1NTENT 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 two police cars and an SUV 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 412301. The maximum principal
amount of certificates to be issued for this purpose is $50,000. 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 ava.ilable fmancing sources for consideration by this Council at the regular council
meeting on Monday,February 11, 2002. �
Adopted by the City Council of the City of Orono,Minnesota at a regular meeting held
� January 28, 2002.
Barbara A. Peterson,Mayor
ATTEST: . . � �
���� � �� .
Linda S. Vee, City Clerk
� Word PerfecdTOM�Raolutio�ulEteimb Intrnt PDV�Ra.wpd