HomeMy WebLinkAboutResolutions - No. 2001-147RESOLUTION NO. 2001-147
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LODI DECLARING ITS INTENT TO REIMBURSE
CERTAIN EXPENDITURES FROM PROCEEDS OF
INDEBTEDNESS (GENERAL GOVERNMENT
FACILITIES)
WHEREAS, the City of Lodi ("City") intends to construct general government
facilities consisting of an Animal Shelter and a Parking Structure, and associated
facilities within its City limits ("Project"); and
WHEREAS, City expects to pay certain expenditures ("Reimbursement
Expenditures") in connection with the Project prior to the issuance of indebtedness for
the purpose of financing costs associated with the Project on a long-term basis; and
WHEREAS, the City reasonably expects that debt obligations in an amount not
expected to exceed $8,000,000 will be issued and that certain of the proceeds of such
debt obligations will be used to reimburse the Reimbursement Expenditures.
that:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lodi
Section 1. City finds and determines that the foregoing recitals are true and
correct.
Section 2. This declaration is made solely for purposes of establishing
compliance with the requirements of Section 1.150-2 of the
Treasury Regulations. This declaration does not bind City to
make any expenditure, incur any indebtedness, or proceed with
the Project.
Section 3, City hereby declares its official intent to use proceeds of
indebtedness to reimburse itself for Reimbursement Expenditures.
Section 4. This resolution shall take effect from and after its adoption.
Dated: June 6, 2001
I hereby certify that Resolution No. 2001-147 was passed and adopted by the
Lodi City Council in a regular meeting held June 6, 2001 by the following vote:
AYES: COUNCIL MEMBERS — Howard, Land, Pennino and Mayor
Nakanishi
NOES: COUNCIL MEMBERS — Hitchcock
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS -- None
SUSAN J. BLACKSTON
City Cleric
2001-147