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r2814RESOLUTION NO. 2814 RESOLUTION OF THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT DETERMINING ITS INTENT TO REIMBURSE ITSELF FOR THE ES RETOOLING-PROJECT FINANCING. WHEREAS, federal tax regulations require that when a municipal, tax exempt, entity seeks to reimburse itself for monies spent on capital projects from proceeds of tax exempt obligations, the capital projects need to be identified in advance of the expenditures; and WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District (the “District”) has determined that it is necessary and in the best interest of the District to make the capital expenditures described below and to reimburse itself for such expenditures with the proceeds of bonds, notes or lease purchase obligations (“Obligations”). BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, AS FOLLOWS: RESOLVED, that the District expects to make capital expenditures after the date of this Resolution for the purpose of acquiring software and hardware in connection with the District’s implementation of new computer systems to be used to replace, upgrade and consolidate the District’s financial and sewer monitoring computer systems (the “Enterprise System Retooling Project”), and the District intends to reimburse itself for such expenditures, to the extent permitted by law, with the proceeds of Obligations. FURTHER RESOLVED, that the maximum principal amount of Obligations expected to be issued for the Enterprise System Retooling Project is $1,700,000. The foregoing Resolution was adopted October 7, 2008.