2013/10/07 RESOLUTION OF THE HCBOC OF CTY OF HARN DECLARING ITS INTENTION TO REIMBURSE ITSELF FROM THE PROCEEDS OF ONE OR MOTE TAX EXEMPT FINANCINS FOR CERTAIN EXPEND®Harnett
COUNT Y
NORTH CAROLINA
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RESOLUTION OF THE HARNETT COUNTY BOARD OF COMMISSIONERS OF THE COUNTY OF HARNETT
DECLARING ITS INTENTION TO REIMBURSE ITSELF FROM THE PROCEEDS OF ONE OR MORE TAX - EXEMPT
FINANCINGS FOR CERTAIN EXPENDITURES MADE AND /OR TO BE MADE IN CONNECTION WITHTHE
ACQUISITION, CONSTRUCTION AND EQUIPPING OF CERTAIN CAPITAL IMPROVEMENTS
WHEREAS, The County of Harnett (the 'Issuer ") is a political subdivision organized and existing under the laws
of North Carolina; and
WHEREAS, the Issuer has paid, on and after the date hereof, certain expenditures (the "Expenditures ") in
connection with the capital project (the "Project "), as more fully described in Appendix A attached hereto; and
WHEREAS, the Harnett County Board of Commissioners of the Issuer (the 'Board ") has determined that the
money to be advanced on and after the date hereof to pay the Expenditures are available only for a temporary
period and it is necessary to reimburse the Issuer for the Expenditures from the proceeds of one or more
issues of tax - exempt obligations (the "Obligations ");
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD AS FOLLOWS:
Section 1. The Board hereby declares the Issuers intent to reimburse the Issuer with the proceeds of the
Obligations for the Expenditures with respect to the Project made on and after the date hereof. The Issuer
reasonably expects on the date hereof that it will reimburse the Expenditures with the proceeds of the
Obligations.
Section 2. Each Expenditure [was and] will be (a) of a type properly chargeable to capital account under
general federal income tax principles (determined in each case as of the date of the Expenditure) and (b)
complies with all applicable Literary Fund regulations.
Section 3. The maximum cost of the Project is expected to be $830,160.
Section 4. The Issuer will make a reimbursement allocation, which is a written allocation by the Issuer that
evidences the Issuer's use of proceeds of the Obligations to reimburse an Expenditure, no later than 18
months after the later of the date on which the Expenditure is paid or the Project is placed in service or
abandoned, but in no event more than three years after the date on which the Expenditure is paid. The
Division recognizes that exceptions are available for certain "preliminary expenditures," costs of issuance,
certain de minimis amounts, expenditures by "small issuers" (based on the year of issuance and not the year
of expenditure) and expenditures for construction projects of at least 5 years. Section 5. This resolution shall
take effect immediately upon its passage.
PASSED AND ADOPTED this 7th day of October, 2013
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N - Jim Burgin, C riman
Attest:
Marg ret Regina heeler, Clerk to the Board '�r,;, : `
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APPENDIX A
DESCRIPTION OF PROJECT
To purchase two EMS ambulances in the amount of $74,970 and $73,500 and the purchase of 30 vehicles for
the Sheriffs department at a cost of $22,723 each.