[Cobo] Capital Bond Listing--Important!

[Mauck, Sheri]

We have been asked to document the "reimbursement resolutions" that are
required for bond proceed reimbursements on projects that are on the
current capital bond project listing that have been completed or will be
completed prior to the receipt of bond proceeds.  The reimbursement
language should be approved by each of the institutional governing board
prior to the expenditures of any funds.

 

Please let me know the following things by email response:

 

1.  Does your institution expect reimbursement for any completed
projects that are on the current listing from potential bond proceeds?
Please send a response listing those projects.

 

2.  Do you have a documented reimbursement resolution on file with
governing board approval that would be dated prior to expenditures of
funds expected to be reimbursed by bond funds for each of the listed
projects?

 

This is very important and should be address very quickly, as we may
need to substitute projects and bill language to avoid forfeiture of
bond proceeds.  Please let me know as soon as possible the situation at
each of your institutions.  Thanks.

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