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RESOLUTION NO. 14 - 96,97
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, EXPRESSING THE VILLAGE COUNCIL'S
DECLARATION OF INTENT TO REIMBURSE ORIGINAL
EXPENDITURES WITH PROCEEDS OF CERTAIN TAX -
EXEMPT OBLIGATIONS IN CONNECTION WITH
IMPROVEMENTS TO THE VILLAGE'S POTABLE WATER
UTILITY SYSTEM; AND PROVIDING AN EFFECTIVE
DATE.
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 improvements to the Village's
potable water utility system. The maximum principal amount
of debt expected to be issued for the project is $9,000,000.
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.
j THE FOREGOING RESOLUTION WAS OFFERED by Councilmember
• �j Hansen , who moved its adoption. The motion was
seconded by Councilmember Capretta , and upon being
put to a vote, the vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Joseph N. Capretta
Carl C. Hansen
Ron T. Mackail
Elizabeth A. Schauer
The Mayor thereupon declared the Resolution duly passed and
adopted this 10th day of April, A.D., 1997.
YO F T A EQUE TA
V�2
Elizabet . * hauer
I ATTEST:
a
oann llo
Village Clerk
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