HomeMy WebLinkAboutRES 040814-R - Intent to Reimburse CostsA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, EXPRESSING OFFICIAL INTENT
TO REIMBURSE COSTS OF CERTAIN CONSTRUCTION AND
RELATED COSTS.
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 construction of projects
described in Section 21 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 re ' citations 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.
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 $4,500,000 for the purpose of
paying the costs of the projects described below:
FM 1460 Construction & Related Items $4,500,000
SECTION 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.
SECTION 4. Any tax supported debt to be issued within this resolution will be issued within the tenure
of the Council authorizing this resolution. If the tax supported portion of this debt is not issued before
the approving Council leaves office, all projects included above that are to be funded with tax supported
debt must be reauthorized by Council.
SECTION 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.
Reimbursement Resolution No. oqoyl -r2-
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SECTION 5. This resolution shall be effective immediately upon adoption.
RESOLVED this 8th day of April, 2014.
ATTEST:
6 1
- dica Brettir
"ASecretary
Reimbursement Resolution No. -OLMN-P,
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