RESOLUTION DECLARING AN OFFICIAL INTENT

 

RESOLUTION NO. 29-98

 

            WHEREAS, the West Mifflin Sanitary Sewer Municipal Authority (“Authority”) is to undertake various capital projects including the upgrade of sewage treatment plant and lines and to purchase and lease certain equipment (all of which are collectively referred to in this Resolution as the “Project”);

            NOW, THEREFORE, IT IS HEREBY RESOLVED that:

1.           The Authority intends to undertake the Project and intends to finance the Project by issuing tax-exempt bonds or notes for that purpose; and

2.           The Authority intends to expend its own funds prior to the issuance of tax-exempt bonds and expects to reimburse itself from the proceeds of the tax-exempt bonds; and

3.           The maximum principal amount of the bonds expected to be issued for the cost of the Project is $10,000.00.

4.           This Resolution is adopted as a declaration of official intent to reimburse in accordance with the provisions of Internal Revenue Service Regulation Section 1.150-2.

            DULY ADOPTED on this 27th day of January 1998.

ATTEST:    Michael Price, Jr., Secretary                                

 

 

WEST MIFFLIN SANITARY SEWER MUNICIPAL AUTHORITY

Cynthia A. Sullivan, Chairman