13-011CITY OF SHOREWOOD
RESOLUTION NO. 13 -011
RESOLUTION APPROVING POST - ISSUANCE COMPLIANCE
PROCEDURE AND POLICY FOR TAX - EXEMPT GOVERNMENTAL BONDS
BE IT RESOLVED by the City Council (the "Council") of the City of Shorewood, Minnesota (the
"City ") as follows:
Section 1. Recitals.
1.01. The City from time to time issues tax - exempt governmental bonds to finance various public
projects
1.02. Under Sections 103 and 140 to 150 of the Internal Revenue Code of 1986, as amended (the
"Code ") and related regulations, the City is required to take certain actions after the issuance of such bonds to
ensure that interest on those bonds remains tax - exempt.
1.03. The City has determined to adopt written procedures regarding how the City will carry out
its bond compliance responsibilities, and to that end has caused to be prepared a document titled
Post - Issuance Compliance Procedure and Policy for Tax - Exempt Governmental Bonds (the "Policy ").
1.04. The Council has reviewed the Policy has determined that it is in the best interest of the City
to adopt the Policy.
Section 2. Policy AWroved.
2.01. The Council approves the Policy in substantially the form on file in City Hall.
2.02. City staff are authorized to take all actions necessary to carry out the Policy.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF SHOREWOOD this 28th day of January,
2013.
yScett� Uy, Mayor