HomeMy WebLinkAboutResolution 2015-024 RESOLUTION NO. 2015-024
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH
RICHLAND HILLS, TEXAS:
WHEREAS, the City of North Richland Hills, Texas (the "Issuer") intends to issue
debt for the acquisition of municipal ambulances and street and excavation equipment
and the acquisition and installation of park & recreational equipment (collectively, the
"Project") and further intends to make certain capital expenditures with respect to the
Project and currently desires and expects to reimburse the capital expenditures with
proceeds of such debt;
WHEREAS, under Treas. Reg. § 1.150-2 (the "Regulation"), to fund such
reimbursement with 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 proceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
ISSUER THAT the Issuer reasonably expects to reimburse capital expenditures with
respect to the Project with proceeds of debt hereafter to be incurred 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 Project is
$3,600,000.
PASSED AND APPROVED this the 28th day of September, 2015.
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CITY • ORTH HLAND HILLS
ice;
n �I
r :� By:
Viz' - Oscar Trevino, Mayor
ATTE T: '• h �yr
o i a Solko, A ssistant City Secretary
APPR 1 :AI/ TO ORM AND LEGALITY:
George A. aple-, City Attorney
APPROVED AAS TO CONTENT:
K nt Austin, Director of Finance