HomeMy WebLinkAboutCity Council Resolutions (R-05-2557)-06/07/2005
RESOLUTION R-05-2557
A RESOLUTION DECLARING EXPECTATION TO REIMBURSE EXPENDITURES
FOR THE DESIGN OF A FIRE STATION AND PURCHASE AND INSTALLATION OF
AN OUTDOOR WARNING SYSTEM WITH PROCEEDS OF FUTURE DEBT
HEREAS, the City of Colleyville, Texas (the "Issuer") intends to issue debt for the
purpose of constructing a fire station including architectural design and
related design expenditures and purchase and installation of an outdoor
warning system 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
under Treas. Reg. 9 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
the Issuer desires to preserve its ability to reimburse the expenditures with
proceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF
OLLEYVILLE, TEXAS:
Sec. 1.
THAT the Issuer reasonably expects to reimburse capital expenditures with
respect to the design of the fire station with proceeds of authorized General
Obligation debt hereafter to be issued by the Issuer, and that this resolution
shall constitute a declaration of official intent under the Regulation.
ND IT IS SO RESOLVED.
PASSED BY A VOTE OF ~ AYES, 0
THIS THEjt!tLDAY OF "1h~ . 2005.
ATTEST:
~
Cynthia Singleton, TRMC
City Secretary
NAYS AND 0 ABSTENTIONS ON
CITY OF COLLEYVILLE
tb
David Kelly
Mayor