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Reimbursement Resolution from the Okaloosa County BOCC meeting of February 4, 2014 (IQM2 meeting #1189). Original portal label: Reimbursement Resolution. Preserved as a historical public record; part of the meeting linked as a related source.
- Original publication
- Reimbursement Resolution
- Date
- February 4, 2014
- Reference collection
- Okaloosa County Board of County Commissioners (IQM2 public portal)
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Resolution No. 14-__
A RESOLUTION OF OKALOOSA COUNTY, FLORIDA WITH RESPECT
TO REIMBURSEMENT OF CERTAIN COSTS AND EXPENDITURES
RELATING TO PUBLIC IMPROVEMENTS IN AND FOR OKALOOSA
COUNTY, FLORIDA.
WHEREAS, Okaloosa County, Florida (the "County") will incur various costs and
expenditures relating to certain capital costs associated with improvements to County properties,
including the southside annex; and
WHEREAS, the County has determined it is in its best interest to reimburse such costs
from proceeds of tax-exempt debt; and
WHEREAS, the United States Department of Treasury has issued various regulations in
regard to reimbursement of governmental costs through the issuance of tax-exempt debt;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA:
SECTION 1. It is the intent of the County to reimburse various costs and expenditures
relating to the acquisition of certain capital costs associated with improvements to County
properties, including the southside annex. The County reasonably anticipates that it will pay for
such costs and expenditures from general revenues of the County. It is reasonably expected that
reimbursement of such costs and expenditures shall come from the issuance of tax-exempt debt
which is not expected to exceed $12,000,000 aggregate principal amount. It is currently the
intention of the County to principally secure such tax-exempt debt by half-cent sales tax
revenues of the County. The expenditures to be reimbursed shall be consistent with the County's
budgetary and financial policy as being the type of expenditures which shall be paid on a long-
term basis.
SECTION 2. The County shall comply with all applicable law in regard to the public
availability of records of official acts (i.e., adoption of this resolution) by public entities such as
the County including making this resolution available to public inspection.
SECTION 3. It is the intent of this resolution to meet the requirements of Treasury
Regulations Section 1.150-2 and to be a declaration of official intent under such Section.
SECTION 4. This resolution shall take effect immediately.
ADOPTED this 4th day of February, 2014.
BOARD OF COMMISSIONERS
OKALOOSA COUNTY, FLORIDA
________________________________
Charles K. Windes, Jr., Chairman
ATTEST:
_______________________________
Don W. Howard
Clerk of Circuit Court
Related sources
This reimbursement resolution is part of the Okaloosa County BOCC meeting of February 4, 2014.
