HomeMy WebLinkAboutResolution 2006-096
RESOLUTION NO. 2006-096
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND
HILLS, TEXAS:
SECTION 1. THAT the City of North Richland Hills, Texas (the "Issuer") intends to issue
debt for street improvements, water and wastewater system improvements, Aquatic
Park Improvements and Fire and Public Works equipment (collectively, the "Projects")
and further intends to make certain capital expenditures with the proceeds of such debt;
WHEREAS, under Treas. Reg. § 1.150-2 (the "Regulation"), to fund such
reimbursements with the proceeds of tax-exempt obligations the Issuer must declare its
expectation to make such reimbursement; and
WHEREAS, the Issuer desires to preserve its ability to reimburse the capital
expenditures with the proceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF NORTH
RICHLAND HILLS, TEXAS, THAT the Issuer reasonably expects to reimburse capital
expenditures with respect to the Projects with proceeds of debt hereafter to be issued
by the Issuer, and that this resolution shall constitute a declaration of official intent
under the Regulation. The maximum principal amount of obligations expected to be
issued for the Projects is $4,365,000.
CITY
/'/
. I
PASSED AND APPROVED this the 23rd day of October, 2006.
APPROVED AS TO CONTENT: