HomeMy WebLinkAbout08-10A RESOLUTION of the City Council of the City of Port Angeles,
Washington, declaring its intent to reimburse certain expenditures
with proceeds of tax - exempt debt to be incurred by the City.
WHEREAS, the City Council of the City of Port Angeles, Washington (the "City"),
wishes to declare, on behalf of the City, the City's official intent to reimburse certain .
expenditures with proceeds of tax - exempt debt to be incurred by the City;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Port
Angeles as follows:
Section 1, The City has appropriated, and reasonably expects to appropriate, funds
from the Electric, Water, Wastewater, and Stormwater Funds to pay costs of utility
improvements within the City. The list of those projects is attached hereto as Exhibit "A ".
Section 2. The City reasonably expects to reimburse the Electric, Water,
Wastewater, and Stormwater Funds for such expenditures from the proceeds of tax- exempt debt
to be incurred by the City (the "Reimbursement. Bonds ").
Section 3. This resolution shall become effective immediately upon its passage and
approval by law.
PASSED by the City Council of the City of Port Angeles at a regular meeting of said
Council held on the 1 S t h day of March , 2010.
A Y R
ATTEST:
AzazatAW
J ssa Hurd, City Clerk
APP OVED AS TO FORM:
•
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William E. Bloor, City Attorne
RESOLUTION NO. 0 8 - 1
G;L EGALIOROINANC. E. S &RESOLuT1ONS1RESOLUT]ONS.201015 - ReimburseTaxExemptExpendilures .03 O1,IO,wpd