RESOLUTION NO. _____ -2005
A RESOLUTION DECLARING AN OFFICIAL INTENT TO REIMBURSE EXPENDITURES IN CONNECTION WITH THE ACQUISITION AND CONSTRUCTION OF CERTAIN IMPROVEMENTS AND EXTENSIONS TO THE TOWN OF BUNKER HILL'S SEWAGE WORKS FACILITY, FROM THE PROCEEDS GENERATED THROUGH THE ISSUANCE OF SEWAGE REVENUE BONDS
WHEREAS, the Town of Bunker Hill, Indiana (the "Town") intends to make improvements and extensions to the Town's Sewage Works facility, as more specifically described on the attached Exhibit A (the "Project");
WHEREAS, the Town reasonably expects to reimburse expenditures for the Project with proceeds of its Town of Bunker Hill, Indiana Sewage Works Revenue Bonds, Series 2005 and Sewage Works Revenue Bonds, Series 2006, in the combined maximum principal amount of Two Million Sixty Thousand Dollars ($2,060,000) (the "Bonds"), to be issued by the Town for the purpose of financing the Project; and
WHEREAS, the Town intends that this Declaration of Official Intent to Reimburse Expenditures constitute a declaration of official intent pursuant to Treasury Regulation 1.150- 2(e) and Indiana Code 5-1-14-6(c).
NOW, THEREFORE, BE IT RESOLVED, by the Town Council of the Town of Bunker Hill, Indiana, that:
SECTION 1. That the Town hereby declares its official intent to issue the Bonds in an original principal amount not to exceed Two Million Sixty Thousand Dollars ($2,060,000) and to reimburse expenditures for the Project with proceeds of the Bonds.
SECTION 2. This resolution constitutes a declaration of official intent to reimburse expenditures under Treas. Reg. 1.150-2(e) and Indiana Code 5-1-14-6(c).
Passed and adopted by the Town Council of the Town of Bunker Hill, Indiana, this ______ day of November, 2005.
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BUNKER HILL, INDIANA Leslie H. Briggs, President
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ATTEST:
Norman McBride, Clerk-Treasurer |
EXHIBIT A
DESCRIPTION OF PROJECT
The Project consists of the acquisition and construction of a new wastewater treatment plant in order to comply with environmental laws and regulations. The Project is more fully described in, and shall be in accordance with, the Preliminary Engineering Report and the Plans and Specifications approved by the Indiana Department of Environmental Management.