HomeMy WebLinkAboutReso - CC - 091-2002RESOLUTION NO. 91-2002
RESOLUTION OF OFFICIAL INTENT OF THE CITY COUNCIL
OF THE CITY OF BURLINGAME TO
CERTAIN EXPENDITURES FROM PROCEEDS OF INDEBTEDNESS
(WATER AND SEWER SYSTEM PROJECTS)
RESOLVED, by the City Council of the City of Burlingame:
WHEREAS, the City of Burlingame intends to construct certain improvements to its water
system and sewer systems as described in Exhibit A hereto (collectively the "Project'); and
WHEREAS, the City 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; and
WHEREAS, the City reasonably expects that debt obligations in an amount not expected
to exceed $20,000,000 will be issued and that certain of the proceeds of such debt obligations will
be used to reimburse the Reimbursement Expenditures; and
WHEREAS, Section 1.150-2 of the Treasury Regulations requires the City to declare its
reasonable official intent to reimburse prior expenditures for the Project with proceeds of a
subsequent borrowing,
NOW, THEREFORE, BE IT RESOLVED, the City Council of the City of Burlingame
does hereby resolve as follows:
The City finds and determines that the foregoing recitals are true and correct.
2. This Resolution is made for purposes of establishing compliance with the
requirements of Section 1. 150-2 of the Treasury Regulations. This Resolution does not bind the City
to make any expenditure, incur any indebtedness, or proceed with the Project.
3. The City 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.
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Mayor
I, Arm T. Musso, City Clerk of the City of Burlingame, do hereby certify that the foregoing
Resolution was introduced at a regular meeting of the City Council held on the 5th day of fir,
2002, and was adopted thereafter by the following vote:
AYES: COUNCILMEMBERS: BAYLOCK, COFFEY, GALLICAN, JANNEY, O'NAHONY
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
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Deputy City Clerk
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WATER SYSTEM PROJECT
The water system project consists of City-wide water system improvements including replacement
of water distribution/transmission mains, valves, pumpstation improvements, storage tanks and
reservoirs, SCADA improvements, water quality studies, chloramination conversion plan andrelated
improvements.
SEWER SYSTEM PROJECT
The sanitary sewer system project consists of City-wide sewer system improvements including
replacement/rehabilitation of sewer pipelines, manholes, cleanouts and laterals. The program also
includes pumpstation improvements and SCADA improvements.
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