HomeMy WebLinkAboutRES 021406-AA - Reimburse Cost ComputerRESOLUTION NO. Da /4l44
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, EXPRESSING OFFICIAL INTENT TO
REIMBURSE COSTS OF CERTAIN EQUIPMENT.
WHEREAS, the City of Georgetown, Texas (the "Issuer") is a home -rule City of the
State of Texas; and
WHEREAS, the Issuer expects to pay expenditures in connection with the
acquisition of the facilities and equipment described in Section 2 prior to the issuance of
obligations to finance the Projects;
WHEREAS, the Issuer finds, considers, and declares that the reimbursement of the
Issuer for the payment of such expenditures will be appropriate and consistent with the
lawful objectives of the Issuer and, as such, chooses to declare its intention, in accordance
with the provisions of Section 1.150-2 of the Treasury Regulations, to reimburse itself for
such payments at such time as it issues obligations to finance the Projects;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution
are hereby found and declared to be true and correct, and are incorporated by reference
herein and expressly made a part hereof, as if copied verbatim. The City Council hereby
finds that this ordinance implements the following policy of the Century Plan - Policy Plan
Element:
2. Finance Policy Statement 13.0, which states: "All municipal operations are
conducted in an efficient business -like manner and sufficient financial resources for
both current and future needs are provided,"
and further finds that the enactment of this resolution is not inconsistent or in conflict with
any other Century Plan Policies, as required by Section 2 03 of the Administrative Chapter
of the Policy Plan.
SECTION 2 The Issuer reasonably expects to incur debt, as one or more separate
series of various types of obligations, with an aggregate maximum principal amount equal
to $345,661 for the purpose of paying the costs of the projects described below:
Replacement of 293 personal computers $345,661
Reimbursement Resolution No. 0/9
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S ECTION 3. All costs to be reimbursed pursuant hereto will be capital
expenditures. No tax-exempt obligations will be issued by the Issuer in furtherance of this
Resolution after a date which is later than 18 months after the later of (1) the date the
expenditures are paid or (2) the date on which the property, with respect to which such
expenditures were made, is placed in service.
S ECTION 4. The foregoing notwithstanding, no tax-exempt obligation will be issued
pursuant to this Resolution more than three years after the date any expenditure which is
to be reimbursed is paid.
S ECTION 5. This resolution shall be effective immediately upon adoption.
RESOLVED this 14th day of Feburary 2006.
ATTEST:
andra D. Lee
City Secretary
APPROVED AS TO FORM:
6thejCi 7,; 42.
Patricia T. Carls, Brown and Carls, L.L.P.
City Attorney
Reimbursement Resolution No.
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THE CITY OF GEORGETOWN:
B
ary Nelon
Mayor