Vote — approved

Thomas Galvin	yes
Kate Brophy McGee	yes
Mark Stewart	yes
Debbie Lesko	yes
Steve Gallardo	yes

Ayes: Thomas Galvin, Kate Brophy McGee, Mark Stewart, Debbie Lesko, Steve Gallardo

Item Text

89. RESOLUTION FOR DECLARATION OF OFFICAL INTENT TO REIMBURSE FOR PURPOSES OF SECTIONS 103 AND 141-150 OF THE INTERNAL REVENUE CODE OF 1986 Authorize the Chairman to approve and execute the Resolution, which constitutes a Declaration of Official Intent to Reimburse required for the issuance of tax-exempt securities to reimburse prior expenditures, related to the construction, acquisition and equipping of County capital projects scheduled for Fiscal Year 2026-27. The County is anticipating issuing tax-exempt obligations to finance capital projects in the Capital Projects Fund (Fund 446). The maximum original amount of obligations expected to be issued for the first phase of the capital projects is $10,100,000, with the total maximum issuance to be determined after further design and scope of the capital projects is completed. Approval for the final issuance cost will be presented for Board approval in a subsequent Agenda item. Exhibit A shows the proposed initial capital project expenditures by anticipated fiscal year. The County reasonably expects to reimburse the expenditures with proceeds of a tax-exempt borrowing. (C-18-25-099-X-00)

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