HomeMy WebLinkAboutResolution No. 96-16 RESOLUTION £~I~J~SSrNG INTENT TO
~I~E ~~SE F~ FOR E~I~S
~E P~OR TO AV~~I~ OF ~S
~~S, ~e Ci~ of~e Colony, Te~ (~e "Issuer") is a duly o~ ~d e~g home-role
m~cipaliW M ~e State ofTe~ ~o~ to i~ue obligafio~ m fm~c~ i~ public ~pmvemen~ puget
m ~e Cogitation ~d laws of~e S~ ofTe~, ~e Mte~ on which is exclu~le ~m ~ income for
f~e~ Mcome m p~s ("m~xempt obligation") pm~t to S<fion 103 of&e ~ Revenue C~e
of 1986, ~ mended (~e "C~e"); ~d
~AS, ~e Issuer will m~e, or h~ made not more ~ 60 days prior m ~e date he.of,
pa~en~ wi~ ~sp~t to ~e acquisition, co~ction, ~onmcfion or ~novafion of~e public works (the
"Projecf') listed on E~ibit A a~ched he.to; ~d
~~S, ~e Issuer h~ concluded ~at it does not cu~ntly desi~ to issue m-exempt obligations
to tin.ce ~e cos~ ~sociated wi~ ~e Project listed on E~ibit A a~ched hereto; ~d
~AS, ~e Issuer desires to ~bu~e i~elf for ~e cos~ ~sociated wi~ ~e Project listed on
E~ibit A a~ached hereto ~om ~e proceeds of~-exempt obligations to be issued subsequent to ~e date
hereof; and
~AS, ~e Issuer ~onably expec~ to issue ~-exempt obligations to reimbume i~elf for ~e
cos~ ~sociated wi~ ~e Project listed on E~ibit A aRached hereto;
NOW, ~FO~, BE IT ~SOL~D BY ~ CI~ CO~CIL OF ~ CI~ OF ~
COLO~, ~S:
Section 1. ~e Issuer re~onably expecB to reimbu=e i~elffor all corn ~at have been or will be paid
subsequent to ~e ~te ~at is 60 days prior to ~e date hereof ~d ~at ~e to be paid M co~ection wi~ ~e
acquisition, cons~ction, ~conmction or ~novation of~e public wor~ (~e "Projecf~ li~ed on E~ibit A
a~ched hereto ~om ~e proceeds of re-exempt obligations to be issued subsequent to ~e date hereof.
Section 2. ~e Issuer ~onably expecB ~at ~e m~imum principal mount of m-exempt
obligations issued m ~imbu~e ~e Issuer for ~e corn ~sociated with ~e Project li~ed on E~ibit A a~ched
hereto will not exceed $1,325,000.
ADOPTED THIS ~TH DAY OF August, 1~96.
CITY OF THE COLONY, TEXAS
By: ~ , ~
ATTEST:
Patti A.~:Hicks, Cit? Secretary -
The COlOny, Texas
EXHIBIT A
DESCRIPTION OF PROPERTY
Fund pu _rpose
Water and Sewer System Enterprise Fund Expendi~ incurred in connection with
construction, installation and acquisition
of waterworks and sanitary sewer system
improvements, including transmission
lines and treatment equipment.
6. I~F.-~'IN~ L812x, W~.S_96'~MI SC_DOC'~64_IN'FEN. R ES
CERTIFICATE FOR RESOLUTION
I, the undersigned City Secretary of the City of The Colony, Texas, hereby certify as fo[lows:
1. The City Council of_.said .City convened in Regular Session on August 5, 1996, at the
location specified in the public notice of said meeting, and the roll was called of the duly constituted
officers and members of said City Council, to-wit:
Dr. William W. Manning, Mayor
John Dillard, Mayor Pro Tern
Mary Blair Watts, Deputy Mayor Pro Tern
William Longo, Councilmember
David Stanwick, Councilmember
Wilma Avey, Councilmember
Dave Kovatch, Councilmember
and all of said persons were present, except for the following: ~ ; thus
constituting a quorum. Whereupon, among other business, the following was transacted at said
meeting: a written Resolution entitled RESOLUTION EXPRESSING INTENT TO REIMBURSE
ENTERPRISE FUND FOR EXPENDITURES MADE PRIOR TO AVAILABILITY OF FUNDS
was duly introduced for consideration of said City Council. It was then duly moved and seconded that
said Resolution be passed; and, after due discussion, said motion, carrying with it the passage of said
Resolution, prevailed and carried by the following vote:
AYES: 7 NOES: .-~ ABSTENTIONS:-~
2. A true, full and correct copy of the aforesaid Resolution passed at the meeting described
in the above and foregoing paragraph is attached to and fo[lows this Certificate; said Resolution has
been duly recorded in the official minutes of said City Council; the above and foregoing paragraph is
a true and correct excerpt from said minutes of said meeting pertaining to the passage of said
Resolution; the persons named in the above and foregoing paragraph, at the time of said meeting and
the passage of said Resolution, were the duly chosen, qualified and acting officers and members of said
City Council as indicated therein; each of said officers and members was duly and sufficiently notified
officially and personally in advance, of the time, place and purpose of the aforesaid meeting and that
said Resolution would be introduced and considered for passage at said meeting, and each of said
officers and members consented in advance to the holding of said meeting for such purpose; and said
meeting was open to the public, and public notice of the time, place and purpose of said meeting was
given, all as required by Vemon's Ann. Texas Government Code, Section 551.041, as amended.
6. IW:~eIIqAIq~COL812~W&$_96~MI SC_DOCc53_CF_.R~ RES
07/16/96: l:501~m
City Secretary
City of The Colony, Texas
6. ! ~F:~4'AN'~COLg 12\W&S_96~MIS C_DOC'~ 12_C~T. RES
07/16/96:1:4 lpm -2-