2003-050
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION 03-050
DECLARING THE OFFICIAL INTENT OF THE CITY OF HOPKINS TO
REIMBURSE CERTAIN EXPENDITURES FROM FUTURE FINANCING
PROCEEDS TO BE ISSUED BY THE CITY OF HOPKINS
WHEREAS, the City expects to incur certain expenditures which may be financed temporarily
from sources, other than financing sources, and reimbursed from future financing proceeds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HOPKINS (THE "CITY") AS FOLLOWS:
1. The City intends to incur expenditures for the project described in Council Report 03-083
for renovation of the mezzanine at the Pavilion, ("project"), and intends to reimburse itselffor
such expenditures from future financing proceeds to be issued by the City in the maximum
principal amount described in the "project".
2. The City Manager is authorized to designate additions to the "project" in circumstances
where time is of the essence, and any such designation shall be reported to the Council at the
earliest practicable date and shall be filed with the official books and records of the City.
3. This resolution is intended to constitute a declaration of official intent for the purposes of
future financing and any law, regulation, ruling or amendment pertaining thereto.
Approved by the City Council of the City of Hopkins this 20th day of May, 2003.
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1fug e Maxwell, Mayor
ATTEST: