HomeMy WebLinkAbout93-376
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RESOLU'I10N NO, 93-376
RESOLU'TION OF THE BOARD OF SUPERVISORS OF MOHA VE COUNTY,
AHIZONA, (THE "COUNTY") DESIGNA'llNG AN OFFICER TO DECLARE OFFICIAL
IN'l'J~NT ON BEHALF OF THE COUNTY WITH RESPECT TO REIMBlJHSEMI'.;NT
FHOM PHOCEEIJS OF TAX~l~XEMPT BONDS PURSUANT TO THEASURY
HEGULATIONS SEC'I'lON 1.1.50-2
WIJI<~H.EAS, the Board of Supervisors of Mohave County met in Regular
Session this 6th day of December, 1993, and
WHEHEAS, the County may from time to time make expenditures with the
int.ent t.hat stich expenditures will be reimbursed from the proceeds of tax-exempt
bonds (the "Reimbursement Bonds"); and
WHEHEAS, in order to treat such reimbursements as an expenditure of
proeeeds of the Reimbur'sement bonds for the purpose of applying Sections 103 and
I,ll through 1.50 of the Internal Reventle Code of 1.986, as amended, the County
may be required, pursuant to Treasury Regulation Section 1.150-2, to declare its
intention to reimburse an expenditure with proceeds of a Reimbursement Bond; and
WIJEHEAS, such declaration of intention to reimburse an expenditure must be
made not later than sixty (60) days after the payment of such expenditure; and
WI-IEREAS, the County may designate an officer to declare such official
intent on its behalf; and
WHEREAS, an appropriate officer of the County to make stich declaration on
behalf of the County is the County's Finance Director;
NOW, THEREFORE, BE IT HEREBY RESOLVED that
Section------L The County's Finance IJirector is herehy designated, for the
purposes of the Treasury Regulation Section 1.150~2, to declare the official intent
of the County to reimburse an expenditure with the proceeds of a Heimbursement
Hand. Such declar'atiolls of inten t shall be ill writing and shall comply with the
provisions of the Treasury Regulation Section 1.150-2. and shall be effective when
executed,
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Hesolulion No. 93~376
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Section 2. The Finance Director shall, upon the issuance of Reimbursement
Bonds, cause a written allocation to be made that evidences the County's use of
proceeds of the Reimbursement Bonds to reimburse a prior expenditure.
Sectio~
The Finance Director shall not permit proceeds of a
Reimbursement nond to be used to reimburse a prior expenditure unless such
reimbursemen t is made wi thin the reimbursemen t time period set forth in Treasury
Regulation Section 1.150~2.
Section 4. The Finance Director is authorized to take any other appropriate
actions which are necessary to meet the requirements of Treasury Regulation
Section 1.150~2.
PASSED APPROVED AND ADOPTED this 6th day of December, 1993.
MOlIA VE COUNTY BOARD OF SUPERVISORS
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Joan C. Ward, Vice Chairman
A TIEST:
Board