19940208 r-94-5RESOLUTION NO. R-94-5
RESOLUTION OF OFFICIAL INTENT TO REIMBURSE
EXPENDITURES FOR WATER CAPITAL IMPROVEMENTS
WITH PROCEEDS OF BONDS
WHEREAS, the City of Fairfax, Virginia (the "City"), intends
to undertake a program of water system improvements (the "Capital
Improvements"); and
WHEREAS, the City intends to pay costs of the Capital
Improvements prior to the issuance of the Bonds, as hereinafter
defined, and to receive reimbursement for such expenditures from
proceeds of the sale of the Bonds;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAIRFAX
VIRGINIA:
1. The City intends to finance, in part, the Capital
Improvements through the issuance of bonds in an amount not to
exceed $2,011,000 (the "Bonds").
2. The City intends to receive reimbursement from proceeds
of the sale of the Bonds for costs of the Capital Improvements
paid by the City prior to the issuance of the Bonds.
3. The City intends that the adoption of this resolution
be considered as "official intent" within the meaning of Treasury
Regulations Section 1.150-2 promulgated under the Internal Revenue
Code of 1986, as amended.
4. The City Clerk is directed to make a copy of this
resolution continuously available for inspection by the general
public during normal business hours at the City offices from the
date of adoption hereof through the date of the issuance of the
Bonds.
5. This resolution shall take effect immediately upon
adoption.
Adopted:
February 8, 1994
Mayor
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