HomeMy WebLinkAboutResolution 2008 (24) RESOLUTION NO. L2OU8�
RESOLUTION DESIGNATING OFFICIAL AUTHORIZED
TO DECLARE OFFICIAL INTENT UNDER
REIMBURSEMENT BOND REGULATIONS
WHEREAS, the Internal Revenue Service has promulgated regulations (the "Regulations ")
with respect to proceeds of tax - exempt borrowings used to reimburse prior capital expenditures,
WHEREAS, one of the requirements of the Regulations is that an issuer must timely
declare an intention to reimburse itself for the expenditure from proceeds of a tax- exempt
borrowing ( "Official Intent "),
WHEREAS, the Regulations permit an issuer to designate an official who would have
authority to declare Official Intent on behalf of the issuer, and
WHEREAS, this governing body finds and determines that designating an official (or
officials) with the authority to declare Official Intent will facilitate compliance with the
Regulations.
NOW, THEREFORE, BE IT RESOLVED by the governing body of St. Croix County,
Wisconsin pursuant to Internal Revenue Code Regulation §1.150-2, that:
1. The following officials are hereby authorized and designated to declare Official
Intent pursuant to the above - referenced regulation: Administrative Coordinator,X
and Finance Director (including subsequently titled offices performing similar
functions).
2. Any declaration of Official Intent shall be made in a format substantially similar to
the form attached hereto.
3. Any declaration of Official Intent shall be maintained in the files of the above -
designated officials and shall be considered a public record available for public
inspection pursuant to Subchapter II of Chapter 19 of the Wisconsin Statutes.
Adopted and recorded this P5 day of u ( , 2008. CRS A*" +eb )
e ct_ vA - ,
Rogeikebholz, Co 4 ty Board Chairperson
ATTEST:
Cindy Canyipbell, ounty Clerk
DECLARATION OF OFFICIAL INTENT
This Declaration of Official Intent is made under and pursuant to Internal Revenue Code
Regulation § 1.150 -2. The undersigned has been designated as an official authorized to declare
official intent pursuant to Resolution No ' -i ) adopted on Uc 1 / S" , 2008. This
Declaration of Official Intent is a public record maintained in the files of the undersigned official
and available for public inspection pursuant to Subchapter II of Chapter 19 of the Wisconsin
Statutes.
The undersigned hereby declares that it is the reasonable intention of St. Croix County,
Wisconsin (the "Issuer ") to use proceeds of debt to be incurred by the Issuer to reimburse
expenditures on the project(s) or from the fund(s) /account(s) described below.
1. Project(s) description:
(Provide a general functional description of the project for which the expenditure to be
reimbursed is paid, e.g., "highway capital improvement program ", "hospital equipment
acquisition ", "school building renovation ", etc.)
OR
2. Identify funds(s) /accounts:
(Provide a general functional description of the purpose of the fund or account from which
the expenditure to be reimbursed is paid, e.g., "parks and recreation fund -- recreational
facility capital improvement program ")
The maximum principal amount of debt to be issued for the above - described purposes is
reasonably expected, on the date hereof, to be $
Dated this day of 20
By:
Title:
3067630_1
2