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RUG 1.2_' '92,. "tS:.4E: HOL~'IE5 S GI:;,'~"../EI',! <br /> <br /> ]~XI~81T B <br />TO OFFICIAL INTENT RESOLUTION <br />ADOPTED , 1991 <br /> <br /> OBJEC'ITV~ I~VIDENCE THAT CITY REASONABLY EXPECTED TO ILSIMBURSE <br />CEKTAIIq PAST EXPEI~DITURES WITH TAXABLE OR TAX EXEMPT BOND PROCEEDS <br /> <br /> The City paid approximately $$4,000 from July, 1990 through December, 1990 for <br />engtneerin~ studies and reports related to Improvement Project No. 90-14 as.described <br />in Exhibit A (the "Expenditures"). The City reasonably expected to reimburse tteself <br />for the Expenditures from the proceeds of taxable or tax exempt debt, as supported by <br />the following evidence: <br /> <br /> 1. It has been the City's consistent practice to ~eimburse engineering and <br />variou~ administrative costs for public improvement projects out of bond proceeds. <br />This practice has been followed in every public improvement bond issue in the past <br />__ years, which includes the following issues: <br /> <br /> 2.' During the' period of July, 1990 through December, 1990, the City's <br />expectation to reimburse the Expenditures from bond proceeds was consistent with the <br />City's budgetary and financial circumstances. The City did not at that time have funds <br />allocated on a long-term basis, reserved or otherwise available under the City's budget <br />to pay for the Expenditures, as evidenced by the City's 1990 budget and financial ,' <br />records on file tn City Hall <br /> <br /> <br />