|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - July 28, 2015|
Agenda Item #22
Reimbursement Resolution for Renovation of Certain Buildings
Contact and/or Presenter Information
Jan Brewer, Director, Financial Management
Adoption of Resolution R-15-058 expressing the County's intent to issue debt obligations to finance all or a portion of certain General Government projects relating to the renovation of certain buildings.
Internal Revenue Code of 1986, Section 1.150-2(e) of the Regulations
Resolution R-15-058 establishes the County's intent to reimburse certain capital expenditures with proceeds from tax exempt financing. The Internal Revenue Code of 1986 and applicable "Regulations" require that governments issuing tax exempt debt formally express their intent to reimburse expenditures which occur prior to the closing of the financing, up to 60 days prior to the effective date of the reimbursement resolution.
The resolution includes the intent to reimburse certain past and future capital expenditures for capital projects relating to the renovation of certain buildings - the Child Protective Services/MSO Building Project and the Tax Collector Annex Building Project.
The maximum principal amount of the debt is approximately $3,500,000. The future debt will be secured by non-ad valorem revenues.
County Attorney Review
Other (Requires explanation in field below)
Explanation of Other
Instructions to Board Records
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: R-15-058 Addendum 1.pdf
Attachment: R-15-058 Reimbursement Resolution Building Renovations.pdf