HomeMy WebLinkAboutResolution_24-03/04_02/12/2004•
RESOLUTION NO. 24-03/04
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, PALM BEACH COUNTY, FLORIDA, EXPRESSING THE
VILLAGE COUNCIL'S DECLARATIONS OF INTENT TO REIMBURSE
ORIGINAL EXPENDITURES WITH PROCEEDS OF CERTAIN TAX-
EXEMPT OBLIGATIONS IN CONNECTION WITH EXPANSION OF THE
VILLAGE'S POTABLE WATER UTILITY SUSTEM, AND PROVIDING
AN EFFECTIVE DATE.
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NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1. This Resolution is adopted for purposes of United
States Treasury Regulation Section 1.150-2.
Section 2. The Village of Tequesta, Florida (the "Village"),
intends to finance expansion of the Village's potable water
utility system. The maximum principal amount of debt expected to
be issued for the project is $1,000,000. The Village reasonably
expects that it will reimburse original expenditures made on the
project with proceeds of the debt.
Section 3. This Resolution shall take effect immediately upon its
adoption.
THE FOREGOING RESOLUTION WAS OFFERED by Council Member Watkins,
who moved its adoption. The motion was seconded by Council Member
Genco, and upon being put to a vote, the vote was as follows:
FOR ADOPTION
AGAINST ADOPTION
Edward D. Resnik
Geraldine Genco
Russell J. Von Frank
Pat Watkins
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The Mayor thereupon declared the Resolution duly passed and
adopted this 12th day of February, A.D., 2004.
ATTEST:
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Mary Mies, Village Clerk
YOR OF TEQUESTA
a
Edward D. Resnik