93-23 v RESOLUTION NO. 93-23
A RESOLUTION OF ATLANTIC BEACH CITY COMMISSION
ESTABLISHING PROVISIONS REGARDING EXPENDITURES
FOR WATER AND SEWER CAPITAL IMPROVEMENTS
PENDING AVAILABILITY OF BOND PROCEDURES
WHEREAS, on April 6, 1993, the City of Atlantic Beach
requested proposals to provide financing to fund the Municipal
Capital Improvements Program and the Municipal Debt Refunding
Program; and
WHEREAS, the City of Atlantic Beach wishes to comply with the
provisions of Treasury Regulation Section 1 . 103. 18. ( the
"Regulation" ) .
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1 . The City of Atlantic Beach hereby declares its
official intent to reimburse expenditures made by the city in
respect of the city' s water and sewer system capital improvements
program as generally described in the city' s Request for Proposals
dated April 6, 1993, ( the "RFP" ) , to the maximum extent provided by
the Regulation.
Section 2. The City hereby declares that it reasonably
expects such reimbursement to be made from the proceeds of a bond
or note issue of the city, to be issued within one year of the date
of this Resolution pursuant to the RFP.
Section 3. The City declares that such reimbursement is
consistent with the city' s budgetary and financial circumstances
and that the funds used for the expenditures to be reimbursed are
not available on a long-term basis for the purposes for which they
are to be expended. The maximum principal amount of such bond or
note issue expected to be issued for the purpose of reimbursing the
expenditures described herein is $10, 000 000.00.
Adopted by the City Commis-ion is 24th v .y .ff a" 1993 .
L A : i LSI
illiam Gul 'Ford, Jr.
Mayo ,
Approved as • form and correctness:
/... / `iii. _e.,
f: an C. Jr. sen, Esquire
City Att; .ney
ATsT:
ina !' -�►
Maureen King
City Clerk