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HomeMy WebLinkAboutRES 092220-AE - Intent to Reimburse CostRESOLUTION NO. ©gZZ20 - A 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 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: 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 $26 million 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. 20 zc� RESOLVED this day of S&a ATTEST: Robyn Densmore, City Secretary 2 (Z4�� Dale Ross, Mayor City of Georgetown, Texas Certificates of Obligation Bonds Self Supported CO- Solid Waste Transfer Station 5,250,000 0 CO- Solid Waste Total 5,250,000 0 CO -Airport Maintenance Storage Facility 700,000 700,000 CO -Airport Total 700,000 700,000 CO-GTEC Aviation Drive 8,000,000 1,600,000 Big C Project 2,000,000 0 Confido III 600,000 300,000 CO-GTEC Total 10,600,000 1,900,000 CO-Stormwater Curb and Gutter 500,000 100,000 CO-Stormwater Total 500,000 100,000 Self Supported Total 17,050,000 2,700,000 Tax Supported CO ADA Transition Plan 150,000 150,000 Cardiac Monitors 260,000 260,000 HVAC 800,000 800,000 Neighborhood Park Development 250,000 250,000 Parks Master Plan 200,000 75,000 Public Safety Operation and Training Center Phase II 4,500,000 500,000 Public Safety Vehicles - Fire 2,290,000 2,290,000 Public Safety Vehicles - Police 1,080,000 1,080,000 Radio Replacement 363,278 363,275 Recreation Center Teen/Senior Renovation 200,000 100,000 SCBA Replacement 580,000 580,000 Tennis Center Facility Improvement 70,000 70,000 CO Total 10,743,278 6,518,275 Tax Supported Total 10,743,278 6,518,275 Certificates of Obligation Bonds Total 27,793,278 9,218,275 General Obligation Bonds Tax Supported GO - 2008 Parks Regional Trail Development 1,275,000 190,000 GO - 2008 Parks Total _ T 1,275,000 _ 1_90,000 GO - 2015 Road Bond 2015 Road Bond Priority 1 - Downtown Sidewalks 1,000,000 200,000 D.B . Wood (SH 29 to Oak Ridge) 4,000,000 2,000,000 Intersection Improvements _ 1,800,000 1,800,000 GO - 2015 Road Bond Total 6,800,000 4,000,000 Tax Supported Total 8,075,000 4,190,000 9 General Obligation Bonds Total 8,075,000 Revenue Bonds Revenue Revenue Bond Aviation Drive 2,300,000 Consultant Engineer 150,000 Downtown Overhead Rehab 400,000 Electric 3 Reel Turret Trailer 104,543 Electric Meters 250,000 Electric Underground Pulling Trailer 192,832 Hoover Pump Station 750,000 New Development 2,500,000 Power Quality Imp 50,000 Ronald Reagan- Glasscock Feeder extension along HWY 195- Phase 1 560,000 Ronald Reagan- Glasscock Feeder extension along HWY 195- Phase 2 591,250 Round Rock Elevated Storage Tank 3,500,000 Round Rock Supply Line 3,200,000 _Round Rock Supply Pump Station 2,500,000 Sectionalization Imp _ 100,000 Southside Water Treatment Plant Rehabilitation 2,250,000 Southwest Bypass Water Line 1,800,000 Transformer Additions 1,000,000 Revenue Bond Total 22,198,625 Revenue Total 22,198,625 Revenue Bonds Total 22,198,625 Grand Total 58,066,903 4 4,190,000 2,300,000 150,000 400,000 104,540 250,000 192,830 750,000 2,000,000 50,000 560,000 700,000 640,000 500,000 100,000 500,000 1,800,000 1,000,000 12,588,620 12,588,620 12,588,620 25,996,895