HomeMy WebLinkAboutRES 950314-J#
4- AIM MU v inks W%19
WIREREAS, the City of Georgetown, Texas (the "Issuer") is a home -rule City of the State
of Texas; and
WBEREAS, the Issuer expects to pay expenditures in connection with the acquisition of
water and wastewater service area, infrastructure and improvements from Berry Creek Partners
(the "Projects") and the acquisition of electric service area, infrastructure and improvements for
Riverview Estates from Pedernales Electric Cooperative prior to the issuance of obligations to
finance the Projects-,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF TH
CITY OF GEORGETOWN, TEXAS, THAT: i
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
resolution implements Utilities/Energy Policy 5 of the Century Plan - Policy Plan Element, which
states: "Water, wastewater, electricity, and solid waste collection services meet the immediate and
future needs of all citizens and encourage and provide for economic development"; and further
finds that the enactment of this resolution is not inconsistentor in conflict with any other Century
Plan Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
SECTION 2. The Issuer reasonably expects to incur debt, as one or more separate series
_vjkdgatio�n 0 . ci al amount e -v
-with an a"re ate maximum v- rin ip _ual to 1
-L_=000
for the purpose of paying the costs of the Project.
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
eso ution o.
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SECTION 4. The foregoing notwithstanding, no tax-exempt obligation will be issue
pursuant to this Resolution more than three years after the date any expenditure which is to be
reimbursed is paid.
APPROVED AS TO FORM:
Marianne Landers Banks
NME=
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A4t �i4oerNe,�'J,4013141-j
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THE CITY OF GEOR2GET WN:
By: LAO WOOD
Mayor