HomeMy WebLinkAbout2023-027-03/21/2023-EXPRESSING THE OFFICIAL INTENT OF THE CITY TO BE REIMBURSED FOR EXPENDITURES RELATING TO THE CONSTRURESOLUTION 2023-027
OF THE CITY COUNCIL OF THE CITY OF FORT COLLINS
EXPRESSING THE OFFICIAL INTENT OF THE CITY TO BE REIMBURSED FOR
EXPENDITURES RELATING TO THE CONSTRUCTION OF IMPROVEMENTS TO THE
CITY’S BROADBAND SYSTEM THROUGH THE ISSUANCE OF BONDS
WHEREAS,the City of Fort Collins,Colorado (the “City”)has incurred,and expects to
incur after the date of this Resolution,costs for capital expenditures incurred in connection with
funding the construction of improvements to the City’s broadband system providing
telecommunication facilities and services to customers through Fort Collins Connexion (the
“Project”);and
WHEREAS,the City intends to reimburse itself for such expenditures made to fimd the
Project with the proceeds derived from the issuance of bonds;and
WHEREAS,the maximum aggregate principal amount of the bonds issued for the Project is
expected not to exceed $20,365,000 (the “Bonds”).
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT COLLINS,COLORADO,AS FOLLOWS:
Section 1.That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2.That this Resolution declares the City’s “official intent,”within the meaning
of Treasury Regulation 26 C.F.R.§1.150-2,to reimburse itself with the proceeds from the issuance
of the Bonds for its expenditures to fund the Project made before issuing the Bonds.
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Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 21st
day of March,2023.
AEFEST:
City Clerk