Fort Walton Beach Council agenda — 02-08-05 — reading text

attached hereto are " capital expenditures" as 90 defmed in Treas. Reg. ~ 1.150- 1(h), which are costs of a which are any type properly chargeable to a 91 capital account ( or would be so chargeable with a proper election or with the application of the definition 92 of placed in service under Treas. Reg. ~ 1.150- 2( c) under general Federal income tax principals ( as 93 determined at the time the expenditure is paid). 94 C. Expenditures for the Project to be reimbursed from the proceeds of each series of the 95 Obligations for purposes of this Resolution do not include costs for the issuance of bond or to an any 96 amount not in excess of the lesser of $100, 000 or five ( 5%) percent of the proceeds of the Obligations, or 97 preliminary expenditures not exceeding twenty ( 20%) percent of the issue price of the Obligations, within 98 the meaning of Treas. Reg. Section 150- 2( f) such ( preliminary expenditures include architectural, 99 engineering, surveying, soil testing and similar costs incurred prior to construction of the Project, but do 100 not include land acquisition, site preparation, and similar costs incident to commencement of 101 construction) inasmuch as such expenditures are .not subject to the restrictions of paragraphs ( d)( I) and 102 d)(2) of Treas. Reg. Section 1. 150- 2; that provide~ nothing herein shall be deemed to prohibit the Issuer 03 from reimbursing such preliminary expenditures from the proceeds of the applicable series of Obligations 104 issued for such purpose, in the manner provided in this Resolution. MCPS- l 0/ 21/04- 660 l-resreimb 2- 105 106 SECTION 6. LIMITATION. 07 108 A. No proceeds of the Obligations used to reimburse any fund or account as described in 109 Section 5 hereof shall thereafter be used~ directly or indirectly, for any of the follo~ g purposes: ( i) to 110 create or increase a sinking fund ( or to replace funds used or to be used for such purpose) or ( ii) to create 111 or increase a reserve or replacement fund ( or to replace funds used or to be used for such purpose). In 112 addition, reimbursed amounts may not be used to reimburse any person ( other than the Issuer) for 113 expenditures originally paid with the proceeds of an Obligation of the Issuer ( excluding an inter- fund 114 transfer). 115 116 B. foregoing limitation of Section 6( a) shall not apply to deposits of reimbursed The 117 amounts in a bona- fide sinking fund or use of reimbursed amounts to pay current Debt Service coming 118 due within one (1) year ( other than Debt Service on the reimbursement Obligation). 119 120 C. No proceeds of the Obligations paid to tp.e Issuer in reimbursement pursuant to this 121 Resolution will be used in a manner described in Treas. Reg. 91. 150- 2(h) with respect to abusive uses of 122 such proceeds, including, but not limited to, using funds corresponding to the proceeds of the Obligations 123 in a manner that results in the creation of replacement proceeds ( within Treas. Reg. Section 1. 148- 1) 124 within one ( 1) year of the reimbursement allocation described Section 5( a) hereof. 125 126 SECTION 7. PUBLIC INSPECTION. 127 128 This Resolution and all records made in implementing the. same shall be continuously held 129 available for public inspection immediately after the adoption or creation thereof, in. accordance with the 130 Florida Public Records Law. . 131 J132 IN WITNESS WHEREOF, the undersigned have caused this Resolution to be adopted as of 133 2004. . 134 135 136 137 138 CITY OF FORT WALTON BEACH, FLORIDA 139 140 SEAL) 141 142 143 By: 144 Its: Mayor 145 146 ATTEST: 147 148 149 150 151 152 By: 153 Its: 154 55 156 157 MCPS- l 0/ 21/ 04- 660 1- resreimb 3- 158 EXHIBIT " A." 159 60 Proj ect Description' , 161. 162 The Project shall consist of the following improvements, each being of a type properly chargeable 163 to 'a capital account under general Federal income tax principles: ' 164 165 Design, construction and equipping of certain water facilities, consisting of construction of a 166 distribution main, 750, 000 gallon elevated tank, 500, 000 gallon elevated tank and including any 1,67 additions, deletions or substitutions as may be deemed in connection therewith. or ' necessary appropriate 168 169 Design, construction and equipping of certain wastewater facilities, consisting of the replacement 170 of the existing secondary treatment process, of upgrading structures and existing equipment throughout 171 the wastewater treatment facility, the renovation and improvement of the sludge processing facilities, and 172 the upgrading of the City' s wastewater treatment plant automation and control systems, including any 173 additions, deletions or substitutions as may be deemed necessary or appropriate in connection therewith. 174 175 Design, construction and equipping of certain other water and sewer line improvements 176 consisting of the replacement of certain water and sewer lines, upgrading of existing structures and. 177 equipment throughout the water distribution and sewer collection system of the City; including any 178 additions, deletions or substitutions as may be deemed necessary or appropriate in connection therewith. 179 180 181 182 ' MCPS- l 0/ 21/04- 6,60 l-resreimb 4-  CIT F FORT WALTON BEACH, FLORlt MEMORANDUM DATE: January 31, 2005 TO: Joyce Shanahan, City Ma~\a~ J FROM: Helen Spencer, City clerk ~ SUBJECT: Canvassing Board representatives BACKGROUND: The Supervisor of Elections requests that Council appoint two representatives to serve on the from Canvassing Board for the upcoming City election on March 8, 2005. The representatives Council must be someone who is not on the ballot. In previous years, Council has appointed the City Clerk and one member from Council, who was not on the ballot, as the two representatives. DISCUSSION: The two representatives on the Canvassing Board will need to be present at the Supervisor of Elections office at 10: 00 a. m. on Monday, March 7, 2005 to canvass the absentee ballots received through Saturday, March 5th, and be present again at 5: 30 p. m. on Tuesday, March 8th for the final canvass of absentee ballots and the election results. CONCLUSION: Council appoint two representatives to serve on the Canvassing Board. S/ ddm Reviewed and Concurred: Hold for Discussion: Denied: c2/;;L! D )' J~~~ Manager Date Comments:  Patricia M. Hollarn Okaloosa County Supervisor of Elections 1804 Lewis Turner Blvd., Suite 404 101 James Lee Blvd. E, Rm 1 Fort Walton Beach, FL 32547- 1285 Crestview, FL 32536- 3581 850) 651- 7272 850) 689- 5600 850) 651- 7275 Fax Fax ( 850) 689- 5644 January 26, 2005 Helen Spencer, City Clerk City of Fort Walton Beach P. O. Box 4009 Fort Walton Beach FL 32549-4009 Dear Helen: on March 8. The Attached is a list of candidates who qualified for the offices on the ballot of State and a candidates' election assessments ( total $421. 20) have been sent to the Department the Fort Walton Beach check for $225 is enclosed, representing the qualifying fees required by City Charter ($25 per candidate). member who is not on the ballot to be Traditionally the council has appointed one other council on the canvassing board,with you as the chief election official for the city. I have scheduled two m. on Monday, March 7 ( to canvass the absentee meetings for the canvassing board, one at 10 a. m. on Tuesday, March ~ for ballots received through Saturday, March 5, and again at 5: 30 p. advise me of the appointed the fmal