Laserfiche WebLink
RESOLUTION NO. 93 - 66 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA ESTABLISHING ITS INTENT TO REIMBURSE <br />CERTAIN EXPENDITURES IN CONNECTION WITH <br />THE PHASE II WATER MAIN EXTENSION PROJECT <br />FROM THE PROCEEDS OF FUTURE BOND ISSUES; <br />AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, Indian River County, Florida (the "County") expects to make certain <br />expenditures in connection with the Phase II Water Main Extension Project of the County; <br />and <br />WHEREAS, the County intends to reimburse itself for said expenditures from the <br />proceeds of future bond issues. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF Indian River County, FLORIDA that: <br />1. The County expects to make certain expenditures in connection with the Phase <br />II Water Main Extension Project of the County (the "Project"). The County intends to <br />finance said expenditures by the issuance of one or more future bond issues. Some or all <br />of said expenditures are expected to be paid prior to the issuance of said future bond <br />issues. Therefore, said expenditures will be paid from the Utility Operating Fund, the <br />Utility Impact Fee Fund and the Utility Special Assessment Project Fund of the County. <br />The County intends to reimburse said funds for said expenditures out of the proceeds of <br />said future bond issues. The maximum principal amount of said future bond issues <br />expected to be used for said reimbursements is $1,661,273. Said expenditures include <br />without limitation expenditures for the acquisition, construction, furnishing and equipping <br />the Project, for reports, studies and projections in connection with the Project, for <br />engineering, surveying and legal work in connection with the Project and for other items <br />directly related to the Project. <br />2. This Resolution shall constitute a "Declaration of Official Intent" within the <br />meaning of Section 1.103-18 of the federal income tax regulations. <br />3. The Clerk of the Board of County Commissioners of the County is hereby <br />directed to make a copy of this Resolution available for public inspection during regular <br />business hours at the Office of the Clerk in the County Administration Building beginning <br />no later than thirty (30) days following the adoption of this Resolution and to keep the <br />same available for public inspection at such place and during such hours until the date <br />upon which the bond issues herein mention are issued and delivered by the County. <br />This Resolution shall take effect immediately upon its adoption. <br />