2023-004 - Laserfiche WebLink

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drinking water sources, wildlife habitat and natural areas, and to construct public access improvements such as parking facilities, restroom facilities, trails and other such infrastructure in connection therewith, together with the necessary preservation, restoration, remediation and reclamation activities to preserve, protect, or enhance such property, or restore such property to its natural state, including customary and necessary costs and expenses incurred in the acquisition of any such lands and all expenses incident to the sale, issuance and delivery of the Bonds, all as shall be more specifically determined by subsequent resolution of the Board. (B) On November 8, 2022, a bond referendum election was held and the issuance of not exceeding $50,000,000 aggregate principal amount of general obligation bonds payable from Ad Valorem Taxes for the purposes described herein and in the Referendum Resolution was approved by a majority of the qualified electors of the Issuer voting in said referendum election. (C) It is in the best interests of the citizens and consistent with the goals and purposes described in the Referendum Resolution to undertake Projects from time to time as each will be subsequently approved by the Board and will be more particularly described in the plans and specifications related thereto on file with the Issuer. (D) It is necessary and desirable and in the best interests of the Issuer to borrow moneys from time to time to finance and refinance Costs of the Projects. (E) The Bonds issued hereunder shall be secured by the Pledged Funds as provided herein and such Pledged Funds have not previously been pledged or encumbered. (F) The proceeds of the Ad Valorem Taxes to be derived in each year are expected to be sufficient to pay all of the fees and expenses of the Paying Agents, any expenses incurred in connection with the levy and collection of the Ad Valorem Taxes and other administrative expenses relating to the Bonds or the Ad Valorem Taxes, the principal of and interest on the Bonds, as the same become due and payable, and all other payments provided for in this Resolution. (G) The principal of and interest on the Bonds will be paid solely from the Pledged Funds in accordance with the terms hereof and the Bonds shall not constitute a lien upon any property whatsoever of or in the Issuer. (H) It is the intent of the Issuer to reimburse various costs and expenditures relating to the acquisition of the Project. The Issuer reasonably anticipates that it will pay for such costs and expenditures from general revenues of the Issuer. It is reasonably expected that reimbursement of such costs and expenditures shall come from the issuance of tax-exempt debt which is not expected to exceed $50,000,000 aggregate principal amount. It is currently the intention of the Issuer to principally secure such tax-exempt debt by a pledge of the ad valorem tax revenues of the Issuer pursuant to the terms hereof. The expenditures to be reimbursed shall be consistent with the Issuer's budgetary and financial policy as being the type of expenditures which shall be paid on a long-term basis. The Issuer shall comply with all applicable law in regard to the public availability of records of official acts (i.e., adoption of this resolution) by public entities such as the Issuer, including making this resolution available to public inspection. It is the intent of this resolution to meet the requirements of Treasury Regulations Section 1.150-2 and to be a declaration of official intent under such Section.