HomeMy WebLinkAboutCity Council Resolutions (R-05-2610)-10/18/2005
RESOLUTION R-05-2610
A RESOLUTION DECLARING EXPECTATION TO REIMBURSE EXPENDITURES
FOR THE PURCHASE OF LAND AND FOR THE CONSTRUCTION OF FIRE
STATION FACILITIES WITH PROCEEDS OF FUTURE DEBT
WHEREAS, the City of Colleyville, Texas (the "Issuer") intends to issue debt for the
purpose of constructing fire station facilities including land acquisition and
construction expenditures 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. 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
WHEREAS, 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
COLLEYVILLE, TEXAS:
Sec. 1.
THAT the Issuer reasonably expects to reimburse capital expenditures with
respect to land acquisition and construction expenditures for fire station
facilities 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.
AND IT IS SO RESOLVED.
NAYSAND 0 ABSTENTIONS ON
CITY OF COLLEYVILLE
Cynthia Singleton, TRMC
City Secretary
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David Kelly
Mayor