Declare an Official Intent Under Treasury Regulation 1.150-2 to Issue Debt to Reimburse the County for Certain Original Expenditures Paid in Connection with Specified Projects
Resolution No. 14091

The following is in an accessible format of resolution 14091 for viewer convenience. It may not necessarily reflect the full, complete version. The original document is linked below and available to the public in the Woodbury County Courthouse.

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WHEREAS, the County anticipates making cash expenditures for one or more capital improvement projects, generally described below (each of which shall hereinafter be referred to as a "Project"); and

WHEREAS, the County reasonably expects to issue debt to reimburse the costs of a Project; and

WHEREAS, the Board believes it is consistent with the County's budgetary and financial circumstances to issue this declaration of official intent.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WOODBURY COUNTY, STATE OF IOWA:

Section 1. That this Resolution be and does hereby serve as a declaration of official intent under Treasury Regulation 1.150-2.

Section 2. That it is reasonably expected that capital expenditures will be made in respect of the following Project(s), from time to time and in such amounts as this Board determines to be necessary or desirable under the circumstances then and there existing.

Section 3. That the County reasonably expects to reimburse all or a portion of the following expenditures with the proceeds of bonds, notes or other indebtedness to be issued or incurred by the County in the future.

Section 4. That the total estimated costs of the Project(s), the maximum principal amount of the bonds, notes or other indebtedness to be issued for the foregoing Project(s) and the estimated dates of completion of the Project(s) are reasonably expected to be as follows:

 

 

 

Project

Fund from which original expenditures are to be Advanced

Total Estimated Cost

Amount of Borrowing Anticipated

Estimated Date of Completion

Trosper-Hoyt Entrance, ADA Ramp, and Facade

                                           

$ 160,000

$ 160,000

                              

Conservation Department Water Fall, retaining wall, and sidewalk

                                           

$ 101,475

$ 101,475

                              

Sheriff Department Body Scanner

                                           

$ 201,500

$ 201,500

                              

WCICC Hyper-Converged Infrastructure Refresh

                                           

$ 612,918

$ 612,918

                              

WCICC

Multifunction Printers & PCs

 

                                           

$ 25,000

$ 25,000

                              

Section 5. That the County reasonably expects to reimburse the above-mentioned Project costs not later than the later of eighteen months after the capital expenditures are paid or eighteen months after the property is placed in service, but in no event more than three (3) years after the original expenditure is paid.

Section 6. That this Resolution be maintained by the County Auditor in an Official Intent File maintained in the office of the Auditor and available at all times for public inspection, subject to such revisions as may be necessary.

PASSED AND APPROVED this 11th day of August, 2026.

WOODBURY COUNTY BOARD OF SUPERVISORS

Dated: August 11, 2026
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