HomeMy WebLinkAboutCity Council Resolutions (R-00-1706)-08/15/2000
RESOLUTION R-OO-1706
A RESOLUTION DECLARING EXPECTATION TO REIMBURSE EXPENDITURES
FOR THE ACQUISITION OF PROPERTY FOR THE REALIGNMENT OF THE
INTERSECTION OF COLLEYVILLE BOULEVARD AND PLEASANT RUN ROAD
WITH PROCEEDS OF FUTURE DEBT
WHEREAS, the City of Colleyville, Texas (the "Issuer") intends to issue debt for
the purpose of realigning the intersection of Colleyville Boulevard and
Pleasant Run Road including the acquisition of land 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 the realignment of the intersection of Colleyville
Boulevard and Pleasant Run Road 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.
AND IT IS SO RESOLVED.
Pas~d by a vote of..2. ayes, 0 nays and D abstentions on this the I ~ day
of l1':fIJ,~r , 2000.
;J~
an Harris, CMC
ity Secretary
CITY OF COLLEYVILLE
K. ~)c;.
Donna Arp
Mayor
ATTEST: