3348RESOLUTION NO.3348
(7\ARESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOSES LAKE
W DECLARING ITS INTENTION TO REIMBURSE ITSELF FROMTHE PROCEEDS OF
ONE OR MORE TAX-EXEMPT FINANCINGS FOR CERTAIN EXPENDITURES
MADE AND/OR TO BE MADE IN CONNECTION WITH THE ACQUISITION,
CONSTRUCTION AND EQUIPPING OF CERTAIN CAPITAL IMPROVEMENTS
RECITALS:
1.The City ofMosesLake(the Issuer)isa political subdivision organized andexisting under the laws ofthe
State ofWashington.
2. The Issuer has paid,beginning no earlier than February 25,2013 and will pay,on and afterthe date
hereof,certain expenditures (the Expenditures)inconnection with the capital project (the Project),as
more fully described in Appendix A attached thereto.
3. The CityCouncil of the Issuer (the Board)has determined thatthe money previously advanced no more
than 60 days prior to the date hereof and to be advanced on and after the date hereof to pay the
Expenditures areavailableonlyforatemporary periodand itis necessary to reimburse the Issuer forthe
Expenditures from the proceeds of one or more issues of tax-exempt obligations (the Obligations).
RESOLVED:
1.The Board herebydeclares the Issuer's intentto reimbursethe Issuerwiththe proceeds of the Obligations
for the Expenditures with respect to the Project made on and after February 25,2013,which date is no
morethan 60 days priorto the date hereof.The Issuer reasonably expects on the date hereofthat itwill
reimburse the Expenditures with the proceeds ofthe Obligations.
2. Each Expenditure (was and)will be (a) of a type properly chargeable to capital account under general
federal income tax principles (determined in each case as of the date of.the Expenditure)and (b)
complies with all applicable Literary Fund regulations.
3.The maximum cost of the Project is expected to be $560,000.00.
4. The Issuer will make a reimbursementallocation,which isawrittenallocation bythe Issuer that evidences
the Issuer's use of proceeds ofthe Obligationsto reimburse an Expenditure, no laterthan 18 monthsafter
the laterofthe date on whichthe Expenditureis paidorthe Projectis placedinservice orabandoned, but
in no event more than three (3) years after the date on whichthe Expenditure is paid.The Division
recognizesthatexceptions areavailable for certain "preliminary expenditures,"costs ofissuance,certain
de minimis amounts,expenditures by"small issuers"(based onthe year of issuance andnotthe year of
expenditure)andexpenditures for construction projects of at least5 years.
Adopted by the CityCouncil on February 12, 2013.
ATTEST:
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