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RESOLUTION NO. o 610 0 9- 9
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
EXPRESSING OFFICIAL INTENT TO REIMBURSE THE COSTS ASSOCIATED WITH
THE PURCHASE OF REAL PROPERTY FOR A CITY FACILITY
WHEREAS, the City of Georgetown, Texas (the "Issuer") is a home-rule City of the State of Texas;
and
WHEREAS, the Issuer expects to purchase a facility, formerly known as the "Albertson's Building";
and
WHEREAS, the Issuer intends to use this building as a City facility; and
WHEREAS, the Issuer finds, considers, and declares that the reimbursement of the Issuer for the
payment of such expenditures will be appropriate and consistent with the lawful objectives of the Issuer and,
as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of the Treasury
Regulations, to reimburse itself for such payments at such time as it issues obligations to finance the Projects;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby found
and declared to be true and correct, and are incorporated by reference herein and expressly made a part
hereof, as if copied verbatim. The City Council hereby finds that this ordinance complies with the City's Fiscal
and Budgetary Policy. This purchase further implements the City's Facility Plan, and is also compliantwith the
City's 2030 Plan, by providing a long-term facility for public safety that meets the intent of the Plan.
SECTION 2. The purchase price for this facility is $3,900,000. This resolution also includes any fees
associated with the purchase.
SECTION 3. All costs to be reimbursed pursuant hereto will be capital expenditures. No
tax-exempt obligations will be issued by the Issuer in furtherance of this Resolution after a date
which is later than 18 months after the later of (1) the date the expenditures are paid or (2) the date
on which the property, with respect to which such expenditures were made, is placed in service.
SECTION 4. All tax supported debt to be issued within this resolution will be issued within
the term of the Council authorizing this resolution. If the tax supported portion of this debt is not
issued before the approving Council leaves office, all projects included in the above schedule that
are to be funded with tax supported debt must be reauthorized by Council.
SECTION 4. The foregoing notwithstanding, no tax-exempt obligation will be issued
pursuant to this Resolution more than three years after the date any expenditure which is to be
reimbursed is paid.
SECTION 5. This resolution shall be effective immediately upon adoption.
RESOLVED this 10th day of June 2008.
Reimbursement Resolution No. 0(O 1 0 OO - S
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P;WGENDA120081ReRes Albertsons.doc
ATTEST: THE CITY OF GEORGETOWN:
Sandra D. Lee By: Gorge G. Garver
City Secretary Mayor
APPROVED AS TO FORM:
Patricia T. Carls
City Attorney
Reimbursement Resolution No. V 0 0 9"
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P: UGENDA120081ReRes Albertsons.doc