Alice Pickering
Wyoming Area ReporterWyoming City Council took important action Monday passing a resolution to ìestablish procedures relating to compliance with reimbursement bond regulations under the internal revenue code.î
This action was taken in anticipation of the sale of bonds to finance the expansion of the Wyoming City Hall.
Action Monday was taken on the advice of Carolyn Drude, Ehlers and Associates, financial consultants to the city.
The city will need to sell bonds to finance the city hall addition. Any planning, legal and engineering, advice obtained before the actual construction begins is considered part of the project expense.
The resolution says the city must declare ìan official intent to reimburse itself for previously paid project expenditures of the proceeds of subsequently issued bonds.î
Treasury regulations allow the city to be reimbursed for money paid out for construction-related expenses from bond money, even if this occurs before the bonds are sold. However, the city must officially declare its intention to seek reimbursement prior to the bond sale.
The resolution puts the city in compliance with treasury procedure. With this policy in place, any preliminary project costs, necessary for planning the city hall expansion, can be paid for with money from the bond sale for the project.
The resolution announces the cityís reasonable expectation of reimbursement for payment of certain project costs.
Other rules require written request for reimbursement within 60 days of the cityís payment for service related to the project. The action authorizes the city administrator or her delegate to make the declarations.
Chicago trip
In a quick trip to Chicago on Aug. 11, City Administrator Jill Teetzel, Chris Eng, Chisago EDA and City Engineer Lee Elfering met with representatives of the U.S. Department of Commerce, Economic Development Administration at its regional office to discuss a possible grant to help the city pay for its pipeline connection to the regional wastewater system.
Teetzel reported a very favorable reception to the maps, diagrams and explanation of the pipeline.
The joint and regional nature of the project clearly meets the criteria of proposals receiving grants, she said.
While there were no promises for a grant, the group reacted very favorably to the project, she told the council on Monday.
Teetzel said the city is in a good position to be awarded a grant to help the city with pipeline costs.
Other business
In other business council:
ïAppointed election judges for the 2004 elections. They are Ed Andler, Patty Berry, Sandy Berry, Marlene English, Holly Grams, Linda Josephson, Diane Mason, Phil Moser, Janet Paul and Jill Teetzel.
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