FISCAL YEAR JULY 1, 2003 TO JUNE 30, 2004



WHEREAS, the Board of Representatives, at its April 28, 2003 Special Budget Meeting adopted Resolution No. 2811 adopting that portion of the Capital Budget, in the amount of $2,150,000.00 that is to be used toward WPCA sewerage system projects (the “Sewer Projects”); and


WHEREAS, the Board of Representatives wishes to amend Resolution No. 2811 by providing the authorization to issue bonds by the WPCA.


BE AND IT IS HEREBY ACCEPTED, ADOPTED AND APPROVED, and specific appropriations are hereby made for each of the several items for sewerage system projects (the “Sewer Projects”) in the amounts appearing in the capital budget under the column heading “Board of Representatives” recording the approval, or other action, of said Board of Representatives to such items in the aggregate amount of $2,150,000.00.




 Section 1.  $2,150,000.00 revenue bonds and/or commercial paper notes (“ Revenue Obligations”) are authorized to be issued in one or more series pursuant to one or more supplemental indenture(s) by and among the City of Stamford, Connecticut and The Water Pollution Control Authority of the City of Stamford, Connecticut and Wachovia Bank, National Association (as successor to First Union National Bank), as Trustee (“Supplemental Indenture”), amending and supplementing the Indenture of Trust, dated as of December 21, 2001 (as amended and supplemented, the “Indenture”), at such times and in such principal amounts as shall be determined by the Board of Finance to meet any portion of the costs of the appropriations for the Sewer Projects. The Mayor and the Director of Administration are hereby authorized to determine the dated date, maturity dates, principal amounts, interest rates, interest payment dates, interest rate modes, credit


Resolution No. ____

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facility provisions, redemption provisions, form and other terms, details and particulars of the Revenue Obligations, and are authorized to execute the same, as provided in the Indenture.  The Revenue Obligations shall be secured as provided in the Indenture and the Supplemental Indenture, and each of the Revenue Obligations shall recite that every requirement of law relating to its issue has been complied with, and that such Revenue Obligations are payable solely from the funds and revenues specifically pledged therefore and does not constitute a general obligation of the City for which its full faith and credit is pledged.  The Revenue Obligations shall be issued and secured solely pursuant to the Indenture and any Supplemental Indenture, in such form and containing such provisions as the Mayor, the Director of Administration and the Controller and the Executive Director of the WPCA shall deem necessary or desirable, and the Mayor, the Director of Administration and the Controller and the Executive Director of the WPCA, in the name of the City, are authorized to execute and deliver the Supplemental Indenture, and their signatures thereon shall constitute their approval thereof.  The Mayor, the Director of Administration and the Controller and the Executive Director of the WPCA are further authorized to execute and deliver such other agreements, documents and instruments necessary, desirable or appropriate, including, but not limited to, credit facility agreements, interest rate swap agreements and investment agreements, in connection with the execution, issuance and delivery of the Revenue Obligations.


            Section 2.  The City hereby expresses its official intent pursuant to §1.150-2 of the Federal Income Tax Regulations, Title 26 (the "Regulations"), to reimburse expenditures paid sixty days prior to and anytime after the date of passage of this resolution in the maximum amount and for the capital improvements described herein with the proceeds of bonds, notes, or other obligations authorized to be issued by the City..  Said bonds, notes or other obligations shall be issued to reimburse such expenditures not later than 18 months after the later of the date of the expenditure or the substantial completion of the project, or such later date the Regulations may authorize.  The City hereby certifies that the intention to reimburse as expressed herein is based upon its reasonable expectations as of this date.  The Director of

Administration or his designee is authorized to pay project expenses in accordance herewith pending the issuance of reimbursement bonds, and to amend this declaration.


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            Section 3.  The Mayor, the Director of Administration and the Controller, or any two of them, are hereby authorized, on behalf of the City, to enter into agreements or otherwise covenant for the benefit of bondholders to provide information on an annual or other periodic basis to nationally recognized municipal securities information repositories or state based information repositories (the "Repositories") and to provide notices to the Repositories of material events as enumerated in Securities and Exchange Commission Exchange Act Rule 15c2-12, as amended, as may be necessary, appropriate or desirable to effect the sale of the bonds and notes authorized by this resolution.  Any agreements or representations to provide information to Repositories made prior hereto are hereby confirmed, ratified and approved.






                                                              Annie M. Summerville, Clerk of the Board




cc:       Mayor Dannel P. Malloy

Thomas Cassone, Esq., Director of Legal Affairs

Tim Curtin, Director of Operations

Benjamin Barnes, Director of Public Safety, Health & Welfare

Thomas Hamilton, Director of Administration

Anthony Mazzullo, Superintendent of Schools

Donna Loglisci, Town & City Clerk

Gerald Fox III, Chair, Board of Finance