HomeMy WebLinkAboutOrd 1818 - Designate Finance Director to Make Declarations of Official Intent ...p
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1908
f Tukwila
C ity o
Washington
Ordinance No. /9/9
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, DESIGNATING THE FINANCE DIRECTOR OF THE
CITY AS THE OFFICIAL AUTHORIZED TO MAKE DECLARATIONS OF
OFFICIAL INTENT ON BEHALF OF THE CITY; PROVIDING FOR
SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE.
WHEREAS, the City of Tukwila, Washington (the "City from time to time may reasonably expect to make
expenditures for capital projects (or certain extraordinary working capital expenditures) from funds that are
available but that are not (and are not reasonably expected to be) reserved, allocated on a long -term basis or
otherwise set aside for those expenditures, and would reasonably expect to be reimbursed for those expenditures
from proceeds of bonds or other obligations issued to finance those expenditures; and
WHEREAS, certain federal regulations (the "federal reimbursement regulations relating to the use of
proceeds of tax exempt bonds or other obligations "bonds to reimburse the issuer of the bonds for expenditures
made before the issue date of the bonds require, among other things, that not later than 60 days after payment of
the original expenditure the City (or any person designated by the City to do so on its behalf) declare a reasonable
official intent to reimburse those expenditures from proceeds of bonds;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, HEREBY
ORDAINS AS FOLLOWS:
Section 1. Designation of Official to Declare Official Intent. The Finance Director of the City is
designated to make declarations of official intent, substantially in the form attached to this ordinance as Exhibit A or
in such other form as shall be prescribed by Treasury Regulation Section 1. 103 -18, on behalf of the City as may be
necessary or appropriate from time to time for any purpose under, and in compliance with, the requirements of the
federal reimbursement regulations.
Section 2. Ratification and Confirmation. Any actions of the City or its officers prior to the date thereof
and consistent with the terms of this ordinance are ratified and confirmed.
Section 3. Severability. If any section, subsection, paragraph, sentence, clause or phrase of this ordinance
or its application to any person or situation should be held to be invalid or unconstitutional for any reason by a court
of competent jurisdiction, such invalidity or unconstitutionality shall not affect the validity or constitutionality of the
remaining portions of this ordinance or its application to any other person or situation.
Section 4. Effective Date. This ordinance or a summary thereof shall be published in the official
newspaper of the City, and shall take effect and be in full force and effect five (5) days after passage and publication
as provided by law.
PASSED BY TH� CITY COT�NCII OF THE CITY OF TPKWILA, WASHINGTON, at a Regular Meeting
thereof this day of 1997.
ATTEST /AUTHENTICATED: J1 W. Rants, Mayor j
Q4 -"--r- e
Jaro. Cantu, City Clerk
APPROVE
A
Of ce of the City A rney
FILED WITH HE CITY CLERK: �9
PASSED BY THE I COUNCIL: /�3 f f 7
PUBLISHED: 7 f 7
EFFECTIVE D E: /�F
ORDINANCE NO.:
FINDIR.DOC 10130197 1
CITY OF TUKWILA
SUMMARY OF ORDINANCE NO. /3/g
AN ORDINANCE OF THE CITY OF TUKWILA, WASHINGTON,
DESIGNATING THE FINANCE DIRECTOR OF THE CITY AS THE
OFFICIAL AUTHORIZED TO MAKE DECLARATIONS OF OFFICIAL
INTENT ON BEHALF OF THE CITY; PROVIDING FOR
SEVERABILITY; AND ESTABLISHING AN EFFECTIVE DATE.
On 3 7 the City Council of the City of Tukwila passed Ordinance
No. /V esi ating the Finance Director of the City as the official authorized to
make declarations of official intent on behalf of the City; providing for severability and
establishing an effective date.
The full text of this ordinance will be mailed without charge to anyone who submits a
written request to the City Clerk of Tukwila for a copy of the text.
APPROVED by the City Council at its meeting of 7 /1 /`7
i
Published Seattle Times: N, 7 i-te-
y C L. 1C
e/
Cantu, City Clerk