HomeMy WebLinkAboutCity Council Resolutions (R-00-1650)-05/02/2000
RESOLUTION R-OO-1650
A RESOLUTION DECLARING EXPECTATION TO REIMBURSE EXPENDITURES
FOR IMPROVEMENTS TO COLLEYVILLE BOULEVARD (STATE HIGHWAY 26)
WITH PROCEEDS OF FUTURE DEBT
WHEREAS, the City of Colleyville, Texas (the "Issuer") intends to issue debt for the
purpose of improving Colleyville Boulevard (State Highway 26),
including the acquisition of land, design, and construction 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;
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.
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 improvements of Colleyville Boulevard (State
Highway 26) 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.
pasft'd by a vote ofS::: ayes, 0 nays and D- abstentions on this the 2,.g day
of IJ)4Y , 2000.
ATTEST:
tJ~
CITY OF COLLEYVILLE
an Harris, TRMC, CMC
City Secretary
1:;;!~
Mayor