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HomeMy WebLinkAbout1995-098RESOLUTION NO. 95-_9$ A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN EXPENDITURES IN CONNECTION WITH THE 26TH STREET WATER MAIN PROJECT FROM THE PROCEEDS OF FUTURE BOND ISSUES, AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Indian River County, Florida (the County) expects to make certain expenditures in connection with the 26th Street Water Main Project of the County; and WHEREAS, the County intends to reimburse itself for said expenditures from the proceeds of future bond issues; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: 1. The County expects to make certain expenditures in connection with the 26th .Street Water Main Project of the County (the Project.) The County intends to finance said expenditures by the issuance of one or more future bond issues. Some or all of said expenditures are expected to be paid prior to the issuance of said future bond issues. Therefore, said expenditures will be paid from the Utility Operating Fund, the Utility Impact Fee Fund, and the Utility Special Assessment Project Fund of the County. The County intends to reimburse said funds for said expenditures out of the proceeds of said future bond issues expected to be used for said reimbursement is $2,000,000. Said expenditures include, without limitation expenditures for the acquisition, construction, furnishing and equipping the Project; for reports, studies, and projections in connection with the Project; and for other items directly related to the Project. RESOLUTION NO. 95- 98 ^,alis resolution shall constitute a "Declaration of )t'fical Intent" within the meaning of Section 1.103-19 )t.` the federal income tax regulations. Phe Clerk of the Board of County Commissioners is -joreby directed to make a copy of this resolution available for public inspection during regular business hours of the office of the Clerk in the County Administration Building, beginning no later than 30 ways following the adoption of this resolution and to h-eep the same available for public inspection at such place and during such hours until the date upon which the bond issues herein mentioned are issued and delivered by the County. This resolution was moved for adoption by Commissioner Eggert__, and the motion Pras seconded by Commissioner Bird , and, upon being put to a vote, the vote was as follows: Chairman Kenneth R. Macht Absent Vice Chairman Fran B. Adams Aye Commissioner Richard N. Bird Aye Commissioner Carolyn K. Eggert Aye Commissioner John Tippin Aye 'hairman thereupon declared the resolution duly passed adopted this 5 day of September 1995. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA (0 6 04�� Ba , Clerk Fran Q. Adams, Vice Chairman /1 b l . Indin Rha Co ADPIorM 0011 Admin. Legal ) Budget 0- l U tilitler Rick mgr. RESOLUTION NO. 95- 98 2. This resolution shall constitute a "Declaration of Offical Intent" within the meaning of Section 1.103-18 of the federal income tax regulations. 3. The Clerk of the Board of County Commissioners is hereby directed to make a copy of this resolution available for public inspection during regular business hours of the Office of the Clerk in the County Administration Building, beginning no later than 30 days following the adoption of this resolution and to keep the same available for public inspection at such place and during such hours until the date upon which the bond issues herein mentioned are issued and delivered by the County. This resolution was moved for adoption by Commissioner Eggert__, and the motion was seconded by commissioner ----9.1 rd , and, upon being put to a vote, the vote was as follows: Chairman Kenneth R. Macht Absent Vice Chairman Fran B. Adams Aye Commissioner Richard N. Bird Aye Commissioner Carolyn K. Eggert Aye Commissioner John Tippin Aye The Chairman thereupon declared the resolution duly passed and adopted this 5 day of September 1995. BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA :test: �f r y K. BaptQn, Clerk Fran B. Adams, Vice Chairman Indan Rive Co A601ored Dale Admin Legal Budget U tilitler Rick Mgr.