HomeMy WebLinkAboutRES 062320-D - HVAC RepalcementRESOLUTION NO. 06 225'00
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN
EXPENDITURES OF THE CITY OF GEORGETOWN, TEXAS
WHEREAS, the City Council of the City of Georgetown, Texas (the "Issuer") expects to pay
expenditures in connection with the projects described in Exhibit A (the "Projects") prior to the issuance
of obligations to finance the Projects; 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 l .l 50-2 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:
Section 1. The Issuer reasonably expects to incur debt, as one or more separate series of
various types of obligations, with an aggregate maximum principal amount not to exceed $800,000 for
the purpose of paying the costs of the Projects.
Section 2. 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 3. 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.
The City Council hereby finds and declares that written notice of the date, hour, place and subject
of the meeting at which this Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and the subject matter hereof were
discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551,
Texas Government Code, as amended.
RESOLVED this 9 day of .2020.
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Dale Ross, Mayor
City of Georgetown, Texas
ATTEST:
[ .City Secretary 11111
DESCRIPTION OF PROJECTS
HVAC Replacement at Rec Center Natatorium $800,000