HomeMy WebLinkAboutCity Council Resolutions (R-04-2445)-12/31/2004
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RESOLUTION R-04-2445
ACCEPTING A BID FOR THE CENTRAL FIRE STATION SITE, LOCATED AT 1900
HALL JOHNSON ROAD SUBMITTED BY BROUGHTON LIMITED PARTNERSHIP
AND AUTHORIZING THE ACQUISITION OF APPROXIMATELY 2.65 ACRES FROM
BLUEBONNET HILLS MEMORIAL PARK, INC., FOR THE PURPOSE OF A SITE
FOR A NEW CENTRAL FIRE STATION SITE, DECLARING EXPECTATION TO
REIMBURSE THE EXPENDITURE WITH PROCEEDS OF FUTURE DEBT AND
AUTHORIZING THE MAYOR TO SIGN DOCUMENTS SUPPORTING THE
TRANSACTION
WHEREAS, the Colleyville City Council has determined that the purchase of the
property located adjacent and to the west property line of the Broughton
Development is desirable for the location of a new Central Fire Station;
and
WHEREAS, the current Central Fire Station, located at 1900 Hall Johnson Road, is
unsuitable for the future fire protection needs of the City; and
WHEREAS, the Broughton Limited Partnership desires to purchase the current Central
Fire Station site for the purpose of augmenting the Broughton
Development; and
WHEREAS, the Broughton Limited Partnership submitted a bid for the current Central
Fire Station; and
WHEREAS, the City of Colleyville, Texas (the "Issuer") intends to issue debt at a future
date for the purpose of acquiring land for the future Central Fire Station
and further intends to make certain capital expenditures for the project
and currently desires and expects to reimburse such capital expenditures
with proceeds of such debt; and
WHEREAS, under Treas. Reg. S 1.150-2 (the "Regulation"), to fund such
reimbursement with proceeds of tax-exempt obligations the Issuer must
declare its expectation to make such reimbursement; and
WHEREAS, the Issuer desires to preserve its ability to reimburse the expenditures with
proceeds of tax-exempt obligations.
Resolution R-04-2445
Page 2 of 2
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the Colleyville City Council hereby accepts the bid from Broughton
Limited Partnership, a Texas limited partnership, for the current Central
Fire Station site located at 1900 Hall Johnson Road.
Sec. 2.
THAT the Colleyville City Council authorizes the acquisition of
approximately 2.65 acres from Bluebonnet Hills Memorial Park, Inc., for
the purpose of a site for a future Central Fire Station.
Sec. 3.
THAT the Issuer reasonably expects to reimburse capital expenditures
with respect to the acquisition of land for a future fire station with proceeds
of debt hereafter to be issued by the Issuer, and that this resolution shall
constitute a declaration of official intent under the Regulation.
Sec. 4.
THAT the Mayor is authorized to execute the necessary documents
supporting the transaction.
AND SO IT IS RESOLVED.
PASSED BY A VOTE OF AYES,
ON THIS THE DAY OF
NAYS AND ABSTENTIONS
2004.
Council determined on October 5, 2004 that this item would be passed over with
no further consideration.
ATTEST:
CITY OF COLLEYVILLE
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Cynthia Singleton, TRMC
City Secretary
Joe Hocutt
Mayor