HomeMy WebLinkAbout1994-046RESOLUTION NO. 84-.--46
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, ESTABLISHING ITS INTENT TO REIM-
BURSE CERTAIN EXPENDITURES IN CONNECTION
WITH THE PHASE V WATER MAIN EXTENSION
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 Phase V Water Main Extension
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 Phase V Water Main Extension 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. The maximum principal amount of said future bond issues
expected to be used for said reimbursement is $1,800,000. 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; for engineering,
surveying, and legal work in connection with the Project; and for other
items directly related to the Project.
2. This resolution shall constitute a "Declaration of Official Intent" within
the meaning of Section 1.103-18 of the federal income tax regulations.
3. The Clerk of the Board of County Commissioners of the County 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
RESOLUTION NO. 94-46
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 shall take effect immediately upon its adoption.
The resolution was moved for adoption by Commissioner Adams ,
and the motion was seconded by Commissioner Eaaprt , and, upon being
put to a vote, the vote was as follows:
Chairman John W. Tippin
aye
Vice Chairman Kenneth R. Macht
absent
Commissioner Richard N. Bird
a y e
Commissioner Carolyn K. Eggert
aye
Commissioner Fran B. Adams
a y e
The Chairman thereupon declared the resolution duly passed and
adopted this 8th day of March , 1994.
Attest:
Jefijeey; K. artolig Clerk
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY, FLORIDA
r
By�'
o n Tipp'
Chairman