This resolution delegates authority to the City Manager or Finance Director to certify at the beginning of any eligible capital project that the Assembly may elect in the future to finance that project with tax-exempt bond proceeds. Such a certification solves the timing issue that arises any time a capital project is initiated before bonds are sold. Without such a certification, project expenses incurred before a bond sale are generally ineligible for tax-exempt financing. This resolution does not require the Assembly to appropriate funds for any projects or to sell any bonds.
This resolution was reviewed by the Assembly Finance Committee on August 18, 2021.