Title
From the Department of Administrative Services, expressing official intent regarding certain capital expenditures to be reimbursed from the proceeds of an obligation.
Body
In April 2010, an appropriation transfer of $500,000 was approved that increased expenditure authority and revenue for Project WA108 HVAC Replacement. Financing was to be provided by general airport revenue bonds. The September 2010 airport revenue bond issuance did not include this amount.
This reimbursement resolution will allow spending to occur prior to the issuance of bonds at a later time.
Since the Airport will need to proceed with these projects, the County will have to reimburse itself with bond proceeds for expenditures that are incurred prior to the issuance of the bonds.