HomeMy WebLinkAboutReso 2001-164 - Reimburse Certain Expenditures RESOLUTION NO. 2001 - /(0 5
A RESOLUTION OF THE CITY OF REDDING
TO REIMBURSE CERTAIN EXPENDITURES
FROM PROCEEDS OF INDEBTEDNESS
WHEREAS:
A. The City of Redding (Redding) intends to construct a new 54-megawatt, combined-cycle,
generating facility Unit No. 5 (Project);
B. Redding expects to pay certain expenditures (Reimbursement Expenditures) in connection with
the Project prior to the issuance of indebtedness for the purpose of financing costs associated with the
Project on a long-term basis;
C. Redding reasonably expects that debt obligations in an amount not expected to exceed
$46,000,000 will be issued, including costs of issuance, and that certain of the proceeds of such debt
obligations will be used to reimburse the Reimbursement Expenditures; and
D. Section 1.150-2 of the Treasury Regulations requires Redding to declare its reasonable official
intent to reimburse prior expenditures for the Project with proceeds of a subsequent borrowing.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redding as
follows:
1. The City Council finds and determines that the foregoing recitals are true and correct.
2. This resolution is made solely for purposes of establishing compliance with the requirements of
Section 1.150-2 of the Treasury Regulations. This resolution does not bind Redding to make any
expenditure, incur any indebtedness, or proceed with the Project.
3. Redding hereby declares its official intent to use proceeds of indebtedness to reimburse itself for
Reimbursement Expenditures.
4. This resolution shall take effect from and after its adoption.
I HEREBY CERTIFY that the foregoing resolution was introduced, read, and adopted at a
regular meeting of the City Council on the 6th day of November, 2001 by the following vote:
AYES: COUNCIL MEMBERS: Cibula, Pohlmeyer, Stegall and McGeorge
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Kight
ABSTAIN: COUNCIL MEMBERS: None
DAVID EOR!" , Ma
Form Approved: /
X.2472t4ir-
W. Leonard Wingate, Ci ttorney
The undersigned, City Clerk of the City of Redding, hereby certifies that the foregoing is a full, true, and
correct copy of the resolution of the City Council of Redding duly made at a meeting thereof held on the
date specified below, and that said resolution has not been amended, modified, or revoked by said City
Council.
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Date Connie Stro:imayer, Ci ' er --�