Res 2019- 27 Adopting Post-Issuance Debt Compliance PolicyCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2019-27
Adopting Post -Issuance Debt Compliance Policy for Tax-exempt and Tax -advantaged
Governmental Bonds
WHEREAS, the City of Mendota Heights, Minnesota (the "City") from time to time will
issue tax-exempt and tax -advantaged governmental bonds; and
WHEREAS, under the Internal Revenue Code of 1986, as amended and related regulations
(the "Code"), and Securities and Exchange Commission (the "SEC") the City is required to
take certain actions after bond issuance to ensure that interest on those bonds remains in
compliance with the Code and SEC; and
WHEREAS, the City has determined to adopt a policy regarding how the City will carry
out its compliance responsibilities via written procedures, and to that end, has caused to be
prepared documents titled Post -Issuance Debt Compliance Policy and Post -Issuance Debt
Compliance Procedures; and
WHEREAS, The City Council (the "Council") of the City has reviewed the Post -Issuance
Debt Compliance Policy in connection with the Post -Issuance Debt Compliance Procedures
and has determined that it is in the best interest of the City to adopt the Policy.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF MENDOTA
HEIGHTS, MINNESOTA, the Council approves the Policy as shown in the form
attached.
BE IT FURTHER RESOLVED, the City staff is authorized to take all actions necessary
to carry out the Post -Issuance Debt Compliance Policy and Post -Issuance Debt Compliance
Procedures.
Adopted by the City Council of the City of Mendota Heights this 16th day of April, 2019.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
Neil Garlock, Mayor
ATTES
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Lorri Smith, City Clerk