HomeMy WebLinkAboutRES 3035 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 3035
A RESOLUTION OF THE CITY OF RENTON WASHINGTON,
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DESIGNATING A CITY OFFICIAL TO DECLARE THE OFFICIAL
4 INTENT OF THE CITY RESPECTING INTERFUND LOANS
PENDING THE ISSUANCE OF BONDS OR OTHER OBLIGATIONS
ON BEHALF OF THE CITY OF RENTON, WASHINGTON.
WHEREAS, the City of Renton (the "City") from time to time may
reasonably expect to make expenditures for capital projects (or
certain extraordinary working capital expenditures) from funds that
are available but that are not (and are not reasonably expected to
be) reserved, allocated on a long-term basis or otherwise set aside
for those expenditures, and would reasonably expect to be
reimbursed for those expenditures from proceeds of bonds or other
obligations issued to finance those expenditures; and
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WHEREAS,. :certain .federal regulations (the "federal
reimbursement regulations") relating to the .use of proceeds of tax
exempt :bonds ,or.,other.obligations ("bonds") to reimburse the issuer
of...the..:bonds -,for ,;expenditures :made _before .the issue date of the
bonds require, :...among. .,other things, _ that not ..later than 60 days
-after --payment..of .the- original..-.expenditure the City (or any person
-.designated by-the City. to do .so -on its..-.behalf) declare a reasonable
official intent to reimburse those expenditures from proceeds of
bonds; NOW, THEREFORE,
BE IT RESOLVED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY
OF RENTON, WASHINGTON, that the Director of Administrative Services
of the City is designated to make declarations of official intent
I on behalf of the City as may be necessary or appropriate from time
to time for any purpose under, and in compliance with, the
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requirements of the federal reimbursement regulations.
ADOPTED BY THE CITY COUNCIL this 24th day JANUARY, 1994.
Marily . Petersen, City Clerk
APPROVED BY THE MAYOR this 24 day of JANUARY, 1994.
Earl Clymer, a or
Approved as to form:
U N
eorge M. k
Foster .Peppe & Shefelman
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