HomeMy WebLinkAboutRES 092722-G - Bond ReombursementRESOLUTION NO. O'i -1 ZZ- r C`l
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 $96,188,000 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 271" day of September, 2022.
Resolution No. cnz_1 ZZ' GI Page 1 of 2
Description: Bond Reimbursement Resolution
Date Approved: September 27, 2022
ATTEST:
Robyn ensmore, City Secretary
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Resolution No. O� Z-J `L2 (--j Page 2 of 2
Description: Bond Reimbursement Resolution
Date Approved: September 27, 2022