Resolution 758RESOLUTION NO. 758
A RESOLUTION DESIGNATING THE CITY FINANCE DIRECTOR
AS THE OFFICIAL AUTHORIZED TO MAKE DECLARATIONS OF
OFFICIAL INTENT ON BEHALF OF THE CITY.
WHEREAS, the City of Edmonds, Washington (the "City"),
from time to time may desire or be required to make expenditures
for capital projects from funds that are available but not (and not
reasonably expected to be) reserved, allocated on a long-term basis
or otherwise set aside for those capital projects, which
expenditures the City would reasonably expect to be reimbursed from
proceeds of bonds or other obligations issued to finance those
capital projects; and
WHEREAS, Treasury Regulation Section 1.103-18 requires,
among other things, that on or before making any such capital
expenditure the City (or any person designated by the City to do so
on its behalf) must declare a reasonable official intent to
reimburse those capital expenditures from proceeds of a borrowing;
NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON,
HEREBY RESOLVES AS FOLLOWS:
Section 1. Designation of Finance Director as Official
to Declare Official Intent. The City Finance Director is
designated to make declarations of official intent, substantially
in the form attached to this resolution as Exhibit A or in such
other form as shall be prescribed by Treasury Regulation Section
1.103-18, on behalf of the City as may be necessary or appropriate
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from time to time for any purpose under, and in compliance with,
the requirements of Treasury Regulation Section 1.103-18.
Section 2. Ratification and Confirmation. Any actions
of the City or its officers prior to the date hereof and consistent
with the terms of this resolution are ratified and confirmed.
Section 3. Effective Date. This resolution shall be in
full force and effect from and after its adoption and approval.
RESOVLED this 22nd day of December, 1992
APPROVED:
M-'r' u I'M
ATTEST/AUTHENTICATED:
'ty Clerk, Rhonda �J.March��
FILED WITH THE CLERK: December 17, 1992
PASSED BY THE CITY COUNCIL: December 22, 1992
RESOLUTION NO.: 758
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