Resolution declaring an official intent under Treasury Regulation 1.150-2 to issue debt to reimburse the City for certain original expenditures paid in connection with specified projects. 

The City of Council Bluffs intends to issue General Obligation Bonds for FY23 CIP projects.  This resolution allows the City to reimburse itself from the bond proceeds for expenses incurred for these specific projects prior to the official sale date of the bonds. A copy of the approved FY23 CIP is attached.

This is Step 4 of the General Obligation Bonding process, which is to request approval of the reimbursement resolution. It is in the best interest of the City to continue to move forward in the process of proposing the issuance of General Obligation Bonds to satisfy the funding requirements for capital improvement projects for FY23.