Resolution - 2007 - 26 - Expressing Official Intent To Reimburse The City From The Proceeds Of The Citys Lid No 2007-1 Bond Series - 08/14/2007
RESOLUTION NO. 07-26
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EAGLE, ADA COUNTY,
IDAHO, EXPRESSING OFFICIAL INTENT, PURSUANT TO SECTION 1.150-2 OF THE
FEDERAL INCOME TAX REGULATIONS, TO REIMBURSE THE CITY, FROM THE
PROCEEDS OF THE CITY'S LOCAL IMPROVEMENT DISTRICT NO. 2007-1 BOND,
SERIES 2007, CERTAIN EXPENSES PAID FROM FUNDS OF THE CITY PENDING
ISSUANCE OF THE LOCAL IMPROVEMENT DISTRICT NO. 2007-1 BOND, SERIES 2007;
AND PROVIDING AN EFFECTIVE DATE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EAGLE, Ada County,
Idaho, as follows:
Section 1: The City Council of the City of Eagle, Ada County, Idaho (the "City"),
reasonably expects to reimburse the capital expenditures and other costs described herein from
the proceeds of the "City of Eagle Local Improvement District No. 2007-1 Bond, Series 2007"
(the "Reimbursement Bond"), which the City reasonably anticipates to issue on or before
December 31, 2008.
Section 2: This declaration of official intention is made pursuant to Section 1.150-2
ofthe Federal Income Tax Regulations.
Section 3: The expenditures with respect to which the City reasonably expects to
reimburse the City from the proceeds of the Reimbursement Bond are for the costs of the water
system improvement project.
Section 4: The expenditures with respect to which the City reasonably expects to
reimburse the City from the proceeds of the Reimbursement Bond are for the payment of original
expenditures made no more than 60 days prior to the date of the adoption of this Resolution.
Section 5: The expenditures with respect to which the City expects to reimburse the
City from proceeds of the Reimbursement Bond were made and will be made from the Water
Fund of the City and other legally available funds ofthe City.
Section 6: The reimbursement allocation from the proceeds of the Reimbursement
Bond will be made not later than 18 months after the date the project is placed in service, but in
no event more than 3 years after the original expenditure is paid.
Section 7:
and approval.
This resolution shall take effect and be in force from and after its passage
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DATED this 14th day of August, 2007.
CITY OF EAGLE
Ada County, Idaho
B~ -fib
Mayor
ATTEST:
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