HomeMy WebLinkAboutRES 101414-F - Bond ReimbursementWHEREAS, 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, design,
and/or 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.
SECTION 2. The Issuer reasonably expects to incur debt, as one or more separate series of vario
types of obligations, with an aggregate maximum principal amount equal to $25,439,000 for the purpo
of paying the,costs of the projects described below: I
Public safety vehicles and equipment $1,300,000
Facility, downtown & park improvements •4 111
Transportatio000
n CIP 4,371,
Airport CIP 870,000
Stormwater drainage CIP 2,215,000
Electric CIP 5,723,000
Water CIP 7,990,000
Plus estimated issuance costs 376,000
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.
Resolution Number: 1C>1L41q -F Page I of 1
Description: Bond Reimbursement Resolution 2014/15
Date Approved: October 14, 2014
SECTION 4. All tax supported debt to be issued within this resolution will be issued within the term 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 in the above schedule that are to be funded with
tax supported debt must be reauthorized' by Council.
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ATTEST:
essi a Brettle�
City ecretary
CC, tP, I
bAa6et 6 ,apm4ki-
City Attorney
THE CITY OF GEORGETOWN:
By: ale Ross
Mayor
Reimbursement Resolution No. LQ[91q -F
Page 2 of 2
L: IDivisionyinancelShare2WGENDA12015IMuniAgenda101 Oct 14102 Reimb ReAReimbursement Resolution Resolution.docx
FAT -10M INM-1 �
GO - 1460 Widening, final payment
4,371,000
CO - Downtown projects
694,000
CO - Parks projects
1,150,000
CO - Airport
870,000
CO - Equipment & public safety vehicles
900,000
Total Projected General Debt
7,985,000
Self Supporting Debt:
CO - TRV's - Fire -based Paramedic Program
400,000
CO - Stormwater
2,215,000
CO - Westside Service Center
750,000
Total Projected Self Supporting Debt
3,365,000
Utility Debt.
Revenue - Electric
5,723,000
Revenue - WaterNVastewater
7,990,000
Total Projected Utility Debt
13,713,000
Issuance Costs 3 76, 0af
TOTAL CITY-WiDE DEBT ISSUE 25,439, ON