Resolution 3729 - Laserfiche WebLink

E!/EJFETT RESOLUTION NO. 3729 A RESOLUTION of the City of Everett, Washington declaring its intent to issue general obligation bonds to reimburse certain expenditures towards predesign, design and construction of a Animal Shelter and Fire Station No. 7. WHEREAS, the City of Everett, Washington (the "City") is in need of a new animal shelter and a fire station to service the citizens of the City; and WHEREAS, the City Council has heretofore approved the construction of the Animal Shelter and Fire Station No. 7 as a part of Capital Improvement Program II; and WHEREAS, the City intends to ultimately finance the predesign, design and construction of the Animal Shelter and Fire Station No. 7 through the issuance of general obligation bonds sometime in 1993, and the City intends and has previously planned to reimburse expenditures towards the Animal Shelter and Fire Station No. 7 through the issuance of such bonds; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT, WASHINGTON: Section 1. The City reasonably expects to reimburse the Animal Shelter and Fire Station No. 7 expenditures described herein with the proceeds of general obligation bonds (the "Bonds") to be issued by the City. The principal amount of general obligation bonds issued for the Animal Shelter and Fire Station No. 7 will be equal to the amount required for predesign, design, construction, costs of issuance and underwriter discount for these projects. Section 2. The expenditures with respect to which the Issuer reasonably expects to be reimbursed from the proceeds of the Bonds are for the Animal Shelter and Fire Station No. 7. Section 3. This declaration of official intention is made pursuant to Section 1.103-18 of the Income Tax Regulations promulgated by the United States Department of Treasury. Section 4. All past acts in furtherance of the intent of this resolution are hereby ratified and confirmed.