RES 12-15CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2012-15
RESOLUTION ADOPTING POLICIES AND PROCEDURES OF POST -
ISSUANCE COMPLIANCE
WHEREAS, following the issuance by the City of Otsego, Minnesota of tax-
exempt governmental bonds, the City must continue to take certain actions with
respect to the bonds in order to retain their tax-exempt status; and
WHEREAS, the City Council has determined that a written policy should be
adopted evidencing the City's intention to take all necessary actions so that the
bonds remain tax exempt, and directing staff as to what needs to be done and who
is responsible for certain actions.
NOW THEREFOE BE IT RESOLVED by the City Council of the City of
Otsego, Wright County, Minnesota that the attached Post- Issuance Compliance
Policies and Procedures is hereby adopted and shall be in full force and effect
upon this date.
MOTION to adopt the Policy made by Council Member HEIDNER
and seconded by Council Member SCHARBER
IN FAVOR: MAYOR STOCKAMP; COUNCILMEMBERS: HEIDNER, SCHARBER AND SCHROEDER
OPPOSED: NONE
ADOPTED by the City Council of the City of Otsego this 13th day of February,
2012.
CITY OF OTSEGO
jv%t7� 4QQ-)
Tami Loff , City Clerk