HomeMy WebLinkAboutRES 950523-HAND WATER L14FRASTRUCTURE DIPROVEMENTS.
WHEREAS, the City of Georgetown, Texas (the "Issuer") is a home -rule City of the State
of Texas; and
WFIEREAS, the Issuer expects to pay expenditures in connection with the design, planning,
ion and construction of the p *ects described on Exhibit "A" attached hereto (the "Projects")
acquisit r0i
prior to the issuance of obligations to finance the Projects-,
WFMREAS, 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;
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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 inconsistent or in conflict with =4 other
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
various types of obligations, with an aggregate maximum principal amount equal to $950,000 for t:
purpose of paying the costs of the Projects. I
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.
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eeso6ion Title No.
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to this Resolution more than three years after the date any expenditure which is to be reimbursed is
paid.
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ATTEST:
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Sandra D. Lee
City Secretary
AP ROVED AS TO FORM:
Marianne Landers Banks
City Attorney
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Resolution Title No.
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THE CITY OF GEORGETOWN:
By: LEOWOOD
Mayor
Planning, design, acquisition and construction of the following projects which may be financed by one
or more separate series of various types of tax-exempt obligations:
West Loop Water Lne
(additional construction costs)
Electric infrastructure needed for seNcingSun City
Resolution Title No.
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