HomeMy WebLinkAboutRESOLUTION NO 12 05 220Ll
STATE OF GEORGIA
COUNTY OF FULTON RESOLUTION NO. 12-05-220
CITY OF MILTON REIMBURSEMENT RESOLUTION
WHEREAS, the City of Milton, Georgia (the "City") intends to acquire, construct and equip a
building that will house a police station, a fire station and a courthouse (collectively, the
.'Project"); and
WHEREAS, the City also intends to finance all or a portion of the costs of the Project with the
proceeds of tax-exempt obligations (the "Bonds") to be issued by the City or an authority on
behalf of the City; and
WHEREAS, the City also intends to pay for a portion of the costs of the Project prior to the
issuance of the Bonds; and
WHEREAS, the City may reimburse itself with Bond proceeds for the costs of the Project paid
by it prior to the issuance of the Bonds.
NOW, THEREFORE BE IT RESOLVED, that the Mayor and City Council of the City of
Milton, does hereby adopt;
The City reasonably expects to reimburse itself with Bond proceeds for the costs of the
Project paid by it prior to the issuance of the Bonds to the extent permitted by Section
1.150-2 of the Income Tax Regulations.
2. The maximum principal amount of debt which the City presently expects to be issued
relating to the Project is currently estimated to be $9,000,000.
RESOLVED this 21" day of May, 2012.
Attest:
,- /
Sudie AM Gordon, Cit Clerk
(Seal)
Joe Lockwood, a r
® CLERK'S CERTIFICATE
The undersigned Clerk of the City of Milton, Georgia (the "City") DOES
HEREBY CERTIFY that the foregoing pages of typewritten matter constitute a true and correct
copy of a resolution adopted by the City, at a meeting which was duly called and assembled on
the 21." day of May, 2012, at which meeting a quorum was present and acting throughout, and
that the original of said resolution appears in the minute book of the City which is in my custody
and control.
WITNESS my hand this 21" day of May, 2012.
CS��Lj/1G�
Sudie AM Gordon, Cit , Clerk