HomeMy WebLinkAboutResolution 698 Fire Trucks
RESOLUTION NO. 698
A RESOLUTION OF THE CITY OF WINTER SPRINGS,
FLORIDA DECLARING ITS INTENT TO INCUR DEBT IN
THE MAXIMUM PRINCIPAL AMOUNT OF $400,000 AS
PERMANENT FINANCING OF THE COSTS OF CERTAIN
FIRE TRUCKS FOR THE CITY; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of winter Springs, Florida, a municipality
of the State of Florida (the "Issuer") has the authority pursuant
to Chapter 166, Part II, Florida Statutes, and other applicable
provisions of law to enter into lease-purchase transactions to
finance the purchase of capital projects;
WHEREAS, the Issuer is considering entering into a lease-
purchase agreement or similar agreement (the "Agreement") to pay
the costs of the acquisition, by the Issuer of two (2) fire trucks
(the "Project");
WHEREAS, the Issuer expects to expend certain of its funds on
costs of the Project prior to the delivery of the Agreement which
costs the Issuer reasonably expects to seek reimbursement for from
proceeds derived from the Agreement (the "Reimbursement Expendi-
tures");
WHEREAS, the Issuer has not budgeted, allocated or otherwise
set aside any funds to pay the Reimbursement Expenditures;
WHEREAS, it is expected that the Agreement will be entered
into and delivered within one (1) year of the first incurrence of
a Reimbursement Expenditure; and
WHEREAS, the Issuer desires to indicate its intent to enter
into the Agreement in the maximum principal amount of $400,000 as
permanent financing for the costs of the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA, AS FOLLOWS:
SECTION 1. The Issuer intends to enter into the Agreement in
the maximum principal amount of $400,000 as the permanent financing
of the costs of the Project, including providing for the payment of
costs of entering into the Agreement. This declaration is intended
to be a declaration of official intent under, and to meet the
requirements of, Treasury Regulations Sl.103-18, as amended.
SECTION 2. All prior resolutions of the Issuer inconsistent
with the provisions of this resolution are hereby modified,
supplemented and amended to conform with the provisions herein
contained and except as otherwise modified, supplemented and
amended hereby shall remain in full force and effect.
SECTION 3. This resolution shall take effect immediately upon
its adoption.
PROPOSED, PRESENTED AND
PASSED this 9th day of Nov., 1992.
CITY OF WINTER SPRINGS, FLORIDA
(SEAL)
Mayor
Attest:
Mary T. Norton
City Clerk
Approved as to form and legal
sufficiency
City Attorney
36461.RES
11/03/92
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