HomeMy WebLinkAboutRES 3772CITY OF RENTON,WASIDNGTON
RESOLUTION NO.3772
A RESOLUTION OF THE CITY OF RENTON,WASHINGTON
DECLARING ITS INTENT THAT CERTAIN CAPITAL EXPENDITURES
SHALL BE REIMBURSED FROM THE PROCEEDS OF TAX EXEMPT
BONDS OR OTHER OBLIGATIONS.
WHEREAS,the City ofRenton (the "City")plans to undertake the following capital
projects:the Southwest 27th StreetiStrander Boulevard Capital Improvement Project and the
South Lake Washington RoadwaylUtilities Capital Improvement Project (the "Projects");and
WHEREAS,the City plans to finance the Projects through the issuance oftax-exempt
bonds or other obligations ofthe City in one or more issues in an amount not to exceed
$15,000,000 (the "Bonds");
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON,
WASIDNGTON,DOES RESOLVE AS FOLLOWS:
SECTIONL
SECTION II.
The above findings are true and correct in all respects.
For the purpose of complying with the provisions of the Treasury
Regulation Section 1.150-2 with respect to qualification ofreimbursement allocations as
expenditures of bond proceeds,pending the issuance of the Bonds,the City may make capital
expenditures in furtherance ofthe Projects,in anticipation ofreimbursement for such expenditures
from the proceeds of the Bonds,when issued.
PASSEDBYTHECITYCOUNCILthis 19th dayof September
Bonnie I.Walton,City Clerk
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,2005.
RESOLUTION NO.3772
APPROVED BY THE MAYOR this 19 th day of__S_e-"p'-t_e_ffi_b_e_r__---',2005.
Approved as to form:
RES.1127:9/20/05:ma
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