20-1525 Reimbursement to City of Costs Relating to Acquisition, Construction and Renovation ProjectsRESOLUTION NO.20-1525
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
LONGWOOD, FLORIDA REGARDING REIMBURSEMENT OF CERTAIN
COSTS RELATING TO THE ACQUISITION, CONSTRUCTION AND
RENOVATION OF VARIOUS CAPITAL IMPROVEMENT PROJECTS
LOCATED WITHIN THE CITY AS DESCRIBED HEREIN; PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City of Longwood, Florida (the "City") has incurred and/or will incur various
costs in relation to the acquisition and installation of equipment within the City as more
particularly described in EXHIBIT A attached hereto (the "Series 2020 Project"); and
WHEREAS, the City has determined it is in its best interest to reimburse itself for such
costs from proceeds of one or more short-term notes or tax-exempt debt, and to reimburse itself
for costs incurred with respect to the Series 2020 Project prior to the issuance of such debt
(herein referred to as the "Debt Obligations"); and
WHEREAS, the United States Department of Treasury has issued United States Treasury
Regulation Section 1.150-2 that prescribes conditions under which the proceeds of Debt
Obligations may be used to reimburse governmental advances made for capital and certain other
expenditures paid before issuance of such Debt Obligations;
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LONGWOOD, FLORIDA:
SECTION 1. AUTHORITY. This Resolution is adopted pursuant to the provisions
of the Constitution of the State of Florida, Chapter 166, Florida Statutes, the Charter of the City
and other applicable provisions of law.
SECTION 2. DECLARATION OF OFFICIAL INTENT. It is the intent of the City to
reimburse various costs and expenditures relating to its Series 2020 Project. The City has paid
for, and/or reasonably anticipates that it will pay for, such costs and expenditures from moneys
on deposit in the City's General Fund, Public Utilities Funds/Accounts, Public Facilities
Improvement Fund, Capital Projects Fund, Stormwater Management Fund and Building Fund. It
is reasonably expected that reimbursement of such costs and expenditures shall come from the
issuance of tax-exempt debt which is not expected to exceed $1,400,000 aggregate principal
amount. The expenditures to be reimbursed shall be consistent with the City's budgetary and
financial policy as being the type of expenditures which shall be paid on a long-term basis. It is
the intent of the City that the purpose of this Resolution is to meet the requirements of Treasury
Regulations Section 1.150-2 and to be a declaration of official intent under such Section.
Resolution No. 20-1525
Page 1 of 3
SECTION 3. APPLICABLE LAW. The City shall comply with all applicable law
in regard to the public availability of records of official acts by public entities such as the City,
including making this Resolution available for public inspection.
SECTION 4. INCIDENTAL ACTION. The Mayor or any person designated for
such purpose by the City Commission is hereby authorized to take such actions as may be
necessary to carry out the purposes of this Resolution.
SECTION 5. EFFECTIVE DATE. This Resolution shall take effect immediately
upon its adoption.
DULY ADOPTED this 16th day of March, 2020.
ATTEST:
Michelle Lon 41VIC, FCRM
City Clerk
APPROVED AS TO FORM AND LEGALITY
FOR THE USE AND RELIANCE OF THE
CITY OF LONGWOOD, FLORIDA ONLY:
Daniel W. Langl y A6ornLIFY
CITY OF LONGWOOD, FLORIDA
Matt Morgan, Mayor
Resolution No. 20-1525
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EXHIBIT A
SERIES 2020 PROJECT
Fencing
Graphic Processing for Virtual Desktop
Marked Patrol Vehicles
Police Motorcycles
Ballistic Shields
Firearms -Rifles
Firearms -Shotguns
Firearms -Handguns
Tasers
Dash & Body Cameras
F-250
F-250
Arrow Board
Mower
F-555 Chassis 42
F-250
Leisure Equipment
F-350
Rescue Truck
Bunker Gear
Cardiac Monitor
Resolution No. 20-1525
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$ 10,000
7,004
335,337
25,000
25,000
5,000
5,000
5,600
8,800
266,550
25,000
77,000
10,000
16,000
64,074
35,000
2,700
3,974
275,000
25,000
75,000
$1,302,039