HomeMy WebLinkAbout2025 Resolution No. 004 1 of 2
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RESOLUTION NO. 4
SERIES OF 2025
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, DECLARING ITS OFFICIAL INTENT TO
REIMBURSE ITSELF WITH PROCEEDS OF GENERAL OBLIGATION
BONDS FOR CERTAIN CAPITAL EXPENDITURES UNDERTAKEN OR
TO BE UNDERTAKEN BY THE CITY; GENERALLY IDENTIFYING THE
CAPITAL EXPENDITURES; AND PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH.
WHEREAS, the of Englewood (the “City”) is a home rule municipality and political
subdivision duly organized and existing pursuant to a city charter (the “Charter”) and the
constitution and laws of the State of Colorado (the “State”); and
WHEREAS, pursuant to Section 104 of the Charter and Article XI of the Constitution of
the State, the City is authorized to issue general obligation bonds for any public capital purpose,
subject to obtaining voter approval of a ballot issue authorizing such bonds; and
WHEREAS, at the election held on November 5, 2024, Ballot Issue 2C was approved by
a majority of the eligible electors of the City voting on the ballot issue to incur debt for the purpose
of improving, repairing, equipping and upgrading the City’s parks and recreation facilities and
areas (the “Capital Projects”); and
WHEREAS, the City Council of the City (the “City Council”) currently intends and
reasonably expects to participate in a tax-exempt financing in calendar year 2025 in a principal
amount up to $41,500,000 (the “Financed Amount”), to finance the Capital Projects and reimburse
the City for the portion of such capital expenditures incurred or to be incurred subsequent to a
period commencing 60 days prior to the date hereof, and ending prior to the later of 18 months of
the date of such capital expenditures or the placing in service of the Capital Projects (but in no
event more than 3 years after the date of the original expenditure of such moneys); and
WHEREAS, the City Council hereby desires to declare its official intent, pursuant to 26
C.F.R. § 1.150-2, to reimburse the City for such capital expenditures with the proceeds of the
City’s general obligation bond financing.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ENGLEWOOD, AS FOLLOWS:
Section 1. Declaration of Official Intent. The City shall, presently intends, and
reasonably expects to finance a portion of the Capital Projects with legally available funds.
Section 2. Dates of Capital Expenditures. All of the capital expenditures covered by this
Resolution were or will be made on and after the date which is 60 days prior to the effective date
of this Resolution.
Section 3. Issuance of General Obligation Bonds. The City presently intends and
reasonably expects to participate in a general obligation bond financing within 18 months of the
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date of the expenditure of moneys on the Capital Projects or the date upon which the Capital
Projects is placed in service, whichever is later (but in no event more than 3 years after the date of
the original expenditure of such moneys), and to allocate from said financing an amount not to
exceed the Financed Amount to reimburse the City for its expenditures in connection with the
Capital Projects.
Section 4. Confirmation of Prior Acts. All prior acts and doings of the officials, agents
and employees of the City which are in conformity with the purpose and intent of this Resolution,
and in furtherance of the Capital Projects, shall be and the same hereby are in all respects ratified,
approved and confirmed.
Section 5. Effective Date of Resolution. This Resolution shall take effect immediately
upon its passage.
ADOPTED AND APPROVED this 17th day of March, 2025.
Joe Anderson, Mayor Pro Tem
ATTEST
Stephanie Carlile, City Clerk
I, Stephanie Carlile, City Clerk of the City of Englewood, Colorado, hereby certify that the
above is a true copy of Resolution No. 4, Series of 2025.
Stephanie Carlile, City Clerk
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