Bond Reimbursement Resolution

66511414 
RESOLUTION NO. R22-09-22 
 
RESOLUTION OF THE MAYOR AND COUNCIL OF THE 
CITY OF EL MIRAGE, ARIZONA, DECLARING, FOR 
PURPOSES OF SECTION 1.150-2 OF THE FEDERAL 
TREASURY REGULATIONS, OFFICIAL INTENT TO BE 
REIMBURSED IN CONNECTION WITH CERTAIN CAPITAL 
EXPENDITURES 
RELATING 
TO 
STREET 
AND 
TRANSPORTATION CAPITAL IMPROVEMENT PROJECTS 
 
WHEREAS, the City of El Mirage, Arizona (the “City”) is authorized and 
empowered pursuant to law to issue or cause to be issued obligations to finance the costs of 
various capital facilities owned or to be owned by the City; and 
WHEREAS, it is contemplated that certain expenditures made by the City with 
regard to capital facilities owned or to be owned by the City with regard to street and 
transportation capital improvement projects (the “Project”), including, but not limited to, capital 
improvement projects related to Dysart Road, will be reimbursed from the proceeds of the sale of 
obligations to be issued in the future by or on behalf of the City; 
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL 
OF THE CITY OF EL MIRAGE, ARIZONA, AS FOLLOWS: 
Section 1.  Definitions.  The following terms shall have the meanings assigned 
thereto as follows: 
“official intent” means a declaration of intent of the City to reimburse an original 
expenditure with proceeds of an obligation; 
“original expenditure” means an expenditure for a governmental purpose that is 
originally paid from a source other than a reimbursement bond; and 
“reimbursement bond” means the portion of an issue of obligations allocated to 
reimburse an original expenditure that was paid before the issue date of such 
issue. 
Section 2.  Official Intent.  This Resolution is official intent relating to 
reimbursement for the original expenditures for the Project which are capital expenditures (being 
any cost of a type that is properly chargeable to a capital account (or would be so chargeable 
with a proper election) under general federal income tax principles) made within sixty (60) days 
before and any time after the date of this Resolution.  The maximum principal amount of 
obligations (including the reimbursement bonds for such purposes) to be issued for the Project is 
expected not to exceed $7,720,000. 
Section 3.  Reasonableness of Official Intent.  On the date of this Resolution, the 
Mayor and Council of the City have a reasonable expectation (being that a prudent person in the 
same circumstances would have based on all the objective facts and circumstances) that it will

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reimburse such original expenditures with proceeds of such obligations.  Official intents have not 
been declared by the City as a matter of course or in amounts substantially in excess of the 
amounts expected to be necessary for such projects.  Moreover, the City does not have a pattern 
(other than in extraordinary circumstances) of failure to reimburse actual original expenditures 
covered by official intents. 
Section 4.  Reimbursement Period.  With certain exceptions, an allocation in 
writing that evidences use of proceeds of the reimbursement bonds to reimburse the original 
expenditures shall be made not later than 18 months after the later of (i) the date that the original 
expenditure is paid, or (ii) the date the project is placed in service or abandoned, but in no event 
more than 3 years after the original expenditure is paid. 
Section 5.  Public Record.  This Resolution shall be included as of the date hereof 
in the publicly available official records of the City, such records being maintained and 
supervised by the Clerk of the City, being the main administrative office of the City, and shall 
remain available for public inspection on a reasonable basis. 
PASSED, ADOPTED, and APPROVED this 20th day of September 2022. 
 
 
 
.................................................................................... 
Mayor, City of El Mirage, Arizona 
 
 
ATTEST: 
 
 
 
........................................................................ 
Clerk, City of El Mirage, Arizona 
 
 
 
APPROVED AS TO FORM: 
 
 
 
........................................................................ 
City Attorney, City of El Mirage, Arizona