HomeMy WebLinkAboutCC Reso 2022-18 - CA State Grant funding Application Resolution - Reimbursement Attachment 1 (City of Ukiah)
RESOLUTION 2022-18 Attachment F4
REIMBURSEMENT RESOLUTION
WHEREAS,the City of Ukiah (the"Agency")desires to finance the costs of
(Agency Name)
constructing and/or reconstructing certain public facilities and improvements relating to its water system, including certain
treatment facilities, pipelines and other infrastructure (the"Project"); and
WHEREAS,the Agency intends to finance the construction and/or reconstruction of the Project or portions of the Project
with moneys ("Project Funds") provided by the State of California, acting by and through the State Water Resources
Control Board(State Water Board); and
WHEREAS,the State Water Board may fund the Project Funds with proceeds from the sale of obligations the interest
upon which is excluded from gross income for federal income tax purposes(the"Obligations"), and
WHEREAS, prior to either the issuance of the Obligations or the approval by the State Water Board of the Project Funds
the Agency desires to incur certain capital expenditures(the"Expenditures")with respect to the Project from available
moneys of the Agency; and
WHEREAS,the Agency has determined that those moneys to be advanced on and after the date hereof to pay the
Expenditures are available only for a temporary period and it is necessary to reimburse the Agency for the Expenditures
from the proceeds of the Obligations.
NOW, THEREFORE, THE AGENCY DOES HEREBY RESOLVE, ORDER AND DETERMINE AS FOLLOWS:
SECTION 1. The Agency hereby states its intention and reasonably expects to reimburse Expenditures paid prior to
the issuance of the Obligations or the approval by the State Water Board of the Project Funds.
SECTION 2. The reasonably expected maximum principal amount of the Project Funds is$. 5,V,7LMO
SECTION 3. This resolution is being adopted no later than 60 days after the date on which the Agency will expend
moneys for the construction portion of the Project costs to be reimbursed with Project Funds.
SECTION 4. Each Agency expenditure will be of a type properly chargeable to a capital account under general federal
income tax principles.
SECTION 5. To the best of our knowledge, this Agency is not aware of the previous adoption of official intents by the
Agency that have been made as a matter of course for the purpose of reimbursing expenditures and for which tax-
exempt obligations have not been issued.
SECTION 6. This resolution is adopted as official intent of the Agency in order to comply with Treasury Regulation
§1.150-2 and any other regulations of the Internal Revenue Service relating to the qualification for reimbursement of
Project costs.
SECTION 7. All the recitals in this Resolution are true and correct and this Agency so finds, determines and
represents.
AYES: Councilmembers Orozco, Crane, Rodin, Duenas, and Mayor Brown
NOES: None
ABSENT: None
CERTIFICATION
I do hereby certify that the foregoing is a full,true, and correct copy of a resolution duly and regularly adopted at a
meeting of the City Council of the City of Qkiah held on March 30, 2022
(Governing Board of toe Agency) (Date)
Kristine Lawler, City Clerk { r
(Name, Signature, and Seal of the Clerk or Authorized Record Keeper of the Goveming Board of the Agency)
Financial Assistance Application Page 12 of 14 Financial Security Package(Construction)
(Rev.1=019) Clean Water State Revolving Fund
Water Recycling Funding Program