Title
Approval of resolution authorizing Mayor and City Manager to adopt official intents
Body
SUMMARY: Official Intent Resolutions must be adopted in order for the City to reimburse itself for preliminary expenditures from tax exempt bonds. Due to the number of projects, it is too cumbersome to present to Council a resolution for each project. Bond Counsel has suggested authorizing the Mayor and City Manager to approve the official intents.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Approve resolution authorizing Mayor and City Manager