HomeMy WebLinkAboutResolution 2000-07 Oak Forest Wall
A TT ACHMENT NO. 1
RESOLUTION NO. 2000-07
RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA WITH
RESPECT TO THE FINANCING OF CITY OWNED EQUIPMENT AND
IMPROVEMENTS CONSISTING OF THE OAK FOREST SUBDIVISION
WALL AND BEAUTIFICATION IMPROVEMENTS, RECREATIONAL
FACILITY IMPROVEMENTS, FINANCIAL SOFTWARE AND
EQUIPMENT, AND MEDICAL TRANSPORT VEHICLE WITH CERTAIN
PROCEEDS OF THE CITY'S CAPITAL IMPROVEMENT DEBT AS
SET FORTH IN A MARCH 8, 2000 LEITER OF NATIONSBANK,
N.A.; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED, by the City Commission of the City of Winter Springs, Florida as follows:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant
to provisions of Chapter 166, Florida Statutes, as amended (collectively, the "Act"), and other
applicable laws and is an "Official Intent" within the meaning of Treasury Regulations 1.150-2.
SECTION 2. PRELIMINARY STATEMENT. This Resolution is intended to provide a
declaration of intent by the City of Winter Springs, Florida (the "Issuer"), prior to the issuance by the
Issuer of certain capital improvement debt (the "Note"), to reimburse itself from certain proceeds of
the Note for certain "original expenditures" paid by the Issuer prior to the issuance of the Note for the
acquisition and construction of city owned improvements and equipment more specifically described
as the Oak Forest Wall and Beautification Improvements, Recreational Facility Improvements,
Financial Software and Equipment, and Medical Transport Vehicle, (collectively, the "Projects").
SECTION 3. FINDINGS. It is hereby found, ascertained and declared that:
(A) None of the expenditures constituting the Projects and to be financed with
proceeds of the Note, other than any expenditures constituting de minimis or preliminary
expenditures within the meaning of treasury regulation 1.150-2(f)(1) and (2), have been paid
more than sixty (60) days prior to the effective date of the Resolution; and
(B) All expenditures constituting the Projects are capital expenditures or an
expenditure otherwise described in Treasury Regulation 1.150-2(d)(3); and
(C) The Issuer reasonably expects to issue the Note to reimburse the Issuer for original
expenditures incurred in regard to the Projects.
SECTION 4. TERM OF RESOLUTION. This Resolution shall automatically expire
three (3) years less sixty (60) days from its effective date or otherwise in accordance with Treasury
Regulation 1.150-2.
SECTION 5. REPEALING CLAUSE. All resolutions or orders and parts thereof in
conflict herewith, to the extent of such conflicts, are hereby superseded and repealed.
SECTION 6. EFFECTIVE DATE. This resolution shall take effect immediately upon
approval by the Authority.
ADOPTED this 27th day of March, 2000.
(SEAL)
CITY OF WINTER SPRINGS,
FLORIDA
MAYOR
ATTEST:
CITY CLERK
Approved as to form only
CITY ATTORNEY