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Board approves resolution of official intent to reimburse capital expenditures from future proceeds
Summary
The Lemont board approved a resolution expressing official intent that certain capital expenditures be reimbursed from proceeds of an obligation to be issued by the district; the action passed unanimously April 20.
The board unanimously approved Action Consideration #25-84, a resolution expressing official intent that certain capital expenditures will be reimbursed from the proceeds of an obligation to be issued by the district.
Member Gray moved and Member Antonopoulos seconded the motion recorded in the minutes; the roll-call vote was unanimous. The resolution records the board’s procedural step to allow future reimbursement of capital outlays from bond or obligation proceeds; the minutes do not list specific capital projects or a timetable for reimbursement.
