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HomeMy WebLinkAboutResolution 2001-016 Resolution No, 2001-016 A RESOLUTION declaring expectation to reimburse expenditures with the proceeds of future debt. WHEREAS, the City of North Richland Hills, Texas (the "Issuer") intends to issue debt for street improvements (the "Project") 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 RICH LAND 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 $4,235,000. PASSED AND ADOPTED this 12th day of February 2001, tr·Ji: ~'/:'J....'/ ,', , '.'.¡,I"j~o::':L\')j¡ i~, ; '/0. ;;' ;(í~' ' ·"~D,., ',' "\ "ru . ~ '; I '!, ~ ì<' ':: A TIJST: IT ~~ . (/5!1i:t:¿¿6f~ "'-______ . .,/1 "r _ L (JU; ..' City SecretlJl'~f' """" ,,' 'II" Ar~zD« A'<.~A," I Charles Scoma, Mayor APPROVED AS TO LEGALITY: ! Attorney for the City APPROVED AS TO CONTENT: Di~~t~~·af t~·~~~~(--,