SUBJECT
title
Request Board adopt resolution expressing the intent to issue future debt to finance the acquisition of and construction of certain utility capital projects.
body
DESCRIPTION
The recommended resolution is required by federal law in order to reimburse the County with future debt proceeds for expenditures related to specific utility projects. It expresses the intent of Polk County to acquire, construct and equip certain capital projects; and to reimburse with the proceeds of future debt for related capital expenditures for the acquisition, construction, equipping, modification and improvement of such projects. The resolution also expresses the intent of the County to issue debt with the principal amount not exceeding $400,000,000 to pay the cost of such projects; and providing an effective date.
RECOMMENDATION
Adopt Resolution.
FISCAL IMPACT
None.
CONTACT INFORMATION
Kassandra Holt, Accounting Manager
kholt@polkclerkfl.gov <mailto:kholt@polkclerkfl.gov>
863-534-6520