HomeMy WebLinkAboutR-92-10 INTENT REIMB W&S COSTS FROM BOND RESOLUTION NO.: R-92-L0
~ RESOLUTION OF THE CITY OF SEB~STI~,N~ INDIAN
RIVER COUNTY~ FLORID~ ~,NNOUNCING THaT THE
C~TY INTEND~ TO REIMBURSE CERTAIN EXPENDITURES
WITH THE PROCEEDS OF T~ EXEMPT BOND8~ ~D
PROVIDING ~ EFFECTIVE D~TE.
WHEREAS, the City of Sebastian, a Florida municipal
corporation (the "City"), is considering the acquisition of certain
water and sewer facilities currently owned by General Development
Utilities, Inc.; and,
WHEREAS, the City desires to incur certain engineering and
other costs in connection therewith, and eventually to reimburse
itself from bond proceeds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, that~
Seotto~ ~. STATEMENT OF INTENT. The city hereby states
its intent to incur certain expenditures in connection with a
possible acquisition of an existing water and sewer utility and to
reimburse itself for such expenditure with the future issuance of
tax-exempt bonds.
Section 2. EFFECTIVE D&TE. This Resolution shall take
effect immediately upon its adoption.
The foregoing Resolution was moved for adoption by Councilman
~,~ . ~..o~o~ wa. seoon~.~
~'J , and, upon being put to a vote, the vote
was as follows:
Mayor.Lonnie R. Powell
Vice-Mayor Frank Oberbeck
Councilman Peter R. Holyk
Councilman Carolyn Corum
COuncilman George G. Reid
The Mayor thereupon declared this Resolution duly passed and
iKathry~ M.-0 Halloranr, CMC/AAE
.City Clerk
(Seal)
/
Approved /s to Form and Content:
Charles Ian Nash, City Attorney
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