92-020 Ordinance - Laserfiche WebLink

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"Public Record" means "public record" as defined in Section 149.42 of the Revised Code. "Reimbursement" or "reimburse" means the restoration to the issuer or conduit borrower of money temporarily advanced from its other funds and spent for capital expenditures (including any issuance costs) before the issuance of the Reimbursement Bonds. "Reimbursement" or "reimburse" does not include the refunding or retiring of Bonds previously issued and sold to, or borrowings from, unrelated entities (entities not in the same "controlled group", within the meaning of the Reimbursement Regulations). "Reimbursement Bonds" means any issue of Bonds all or part of the proceeds of which are to be used for reimbursement of capital expenditures paid before issuance of the Bonds. "Reimbursement Regulations" means Treasury Regulations section 1.103-18 and any amendments thereto or superseding regulations, whether in proposed, temporary or final form, as at the time applicable, prescribing conditions under which the proceeds of Reimbursement Bonds when allocated or applied to a reimbursement will be treated as "spent" for all or any purposes of Sections 103 and 141 to 150 of the Internal Revenue Code. SECTION 2: AUTHORIZATION AND REQUIREMENT OF DEGLARATIONS OF OFFICIAL INTENT. Each Authorized Officer is authorized to prepare, sign, and include in the Public Records, Declarations of Official Intent with respect to capital expenditures (including any costs of issuance of the Reimbursement Bonds) to be made from money temporarily available and which are reasonably expected to be reimbursed (in accordance with applicable authorizations, policies and practices) from the proceeds of Reimbursement Bonds, to make appropriate reimbursement and timely allocations from the proceeds of the Reimbursement bonds to reimburse such prior capital expenditures, and to take any other actions as may be appropriate, all at the times and in the manner required under the Reimbursement Regulations to satisfy the requirements for proceeds used for reimbursement to be treated as "spent" for purposes of Sections 103 and 141 to 150 of the internal Revenue Code of 1986. No advance from any fund or account or order for payment may be made for expenditures that are to be reimbursed subsequently from proceeds of Reimbursement Bonds unless a Declaration of Official Intent with respect thereto is first made All Declarations of Official Intent heretofore made on behalf of the Issuer are hereby ratified and adopted. 2