RES 1295RESOLUTION NO.
A RESOLUTION of the City Council of the City of Camas,Washington,
authorizing the City Administrator or Finance Director to designate certain
expenditures for potential reimbursement from bonds that may be
authorized and approved for issuance by the City Council in the future.
WHEREAS,the City of Camas,Washington (the “City”)issues tax-exempt and tax-advantaged obligations from time to time (including bonds,leases and lines of credit)for the
purpose of financing its governmental activities;and
WHEREAS,the United States Department of the Treasury has promulgated regulations
limiting the ability of the City to use the proceeds of tax-exempt and taxable Build America
Bond obligations for reimbursement of prior expenditures;and
WHEREAS,the regulations permit the City to appoint one or more officials for the
purpose of identifying and qualifying capital projects for reimbursement purposes;
THE CITY COUNCIL OF THE CITY OF CAMAS,WASHINGTON DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1.Appointment of City Administrator or Finance Director.Pursuant to U.S.
Treasury Regulation Section 1.150-2(e)(l ),the City Council hereby designates and appoints the
City Administrator or Finance Director of the City as the responsible officials for the purpose of
issuing statements of official intent in compliance with Treasury Regulation Section 1.150-2.
SECTION 2.Statements of Official Intent.Upon a determination by the City
Administrator or Finance Director that the costs of a particular capital project may be reimbursed
from the proceeds of a tax-exempt or tax-advantaged obligation(s)of the City,the City
Administrator or Finance Director are authorized and directed to execute a certificate of official
intent,substantially in the form attached hereto as Exhibit A.Each certificate so executed shall
become a part of the official records of the City available for public inspection and review.
No capital projects will be undertaken unless such projects have been previously
approved in the customary manner by the City Council,and the execution of any intent
certificate shall not obligate the City to issue any debt all of which shall require separate and
additional official approval by the City Council.
51359223.1
ADOPTED at a regular meeting of the City Council of the City of Camas,Washington,
,20_U$this day of 1*3
CITY OF CAMASfWASHINGTON
By
ATTEST:
City Clerk
51359223.1
CERTIFICATE
I,the undersigned,Clerk of the City of Camas,Washington (the “City”),and keeper of
the records of the City Council (the “Council”),DO HEREBY CERTIFY:
That the attached Resolution No./2^5 is a true and correct copy of a resolution of
the City Council,as finally adopted at a regular meeting of the Council held on the 5ft day of
,20 /V ,and duly recorded in my office.
That said meeting was duly convened and held in all respects in accordance with
law,and to the extent required by law,due and proper notice of such meeting was given;that a
legal quorum was present throughout the meeting and a legally sufficient number of members of
the Council voted in the proper manner for the passage of said Resolution;that all other
requirements and proceedings incident to the proper adoption of said Resolution have been fully
fulfilled,carried out and otherwise observed;and that I am authorized to execute this certificate.
1.
2.
IN WITNESS WHEREOF,I have hereunto set my hand this E day of IY1 A f204.
City Clerk
51359223.1
EXHIBIT A
FORM OF OFFICIAL INTENT CERTIFICATE
Pursuant to Resolution No./£.?5"of the City Council of the City of Camas,Washington
(the “City”),the undersigned,[City Administrator/Finance Director]of the City hereby states as
follows:
SECTION 1 .The City reasonably expects to reimburse the expenditures described
herein with the proceeds of debt to be incurred by the City (the “Reimbursement Bonds”).
SECTION 2 .The maximum principal amount of Reimbursement Bonds expected to be
issued is $
[Select one version of Section 3]
SECTION 3.The expenditures with respect to which the City reasonably expects to be
reimbursed from the proceeds of Reimbursement Bonds are for
general functional description of the property,project or program].[insert
OR
SECTION 3 .The expenditures with respect to which the City reasonably expects to be
reimbursed from the proceeds of Reimbursement Bonds will be made from
[insert name of fund or account from which the expenditure will be made
and description of the functional purpose of the fund,for example,capital improvement
program].
Dated this day of ,20 .
[City Administrator/Finance Director]
Exhibit A -1
51359223.1