HomeMy WebLinkAboutResolution No. 2026-078CITY OF THE COLONY, TEXAS
RESOLUTION NO. 2026 - 0"13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS DECLARING EXPECTATION TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT.
WHEREAS, the City Council of the City of The Colony, Texas (the "City"), intends to
issue debt for capital costs and capital projects, including but not limited to acquiring, improving,
equipping the City's police and fire departments, including the acquisition of vehicles related
thereto, constructing and improving streets within the City, including the acquisition of vehicles
and equipment related thereto, constructing and improving facilities for the public works
department, including the acquisition of vehicles and equipment related thereto, constructing and
acquiring improvements to the City's parks and recreation department, including the acquisition
of vehicles and equipment related thereto, improving the City's outdoor warning system,
constructing and improving the City's stormwater drainage facilities, acquiring, constructing, and
improving the City's facilities maintenance and fleet maintenance facilities, and acquiring and
replacing other equipment for City purposes, as generally listed in Exhibit A (collectively, the
"Projects") and expects to make certain capital expenditures with respect to the Projects 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 City must declare its expectation to make such
reimbursement; and
WHEREAS, the City desires to preserve its ability to reimburse capital expenditures with
proceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF THE COLONY, TEXAS:
Section 1: That The City reasonably expects to reimburse capital expenditures with respect to
the Projects with proceeds of debt hereafter to be incurred by the City, and this resolution shall
constitute a declaration of official intent under the Regulation.
Section 2: That the maximum principal amount of debt obligations expected to be issued for
the Projects is $6,400,000.00.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS, THIS 7th DAY OF OCTOBER, 2026.
ATT 1 T:
MCI c.
Tina Stewart, TRMC, CMC, City Secretary
Joel s, Mayor Pro Tem
City of The Colony, Texas
......:
307302301.1/1001379180 A-1
EXHIBIT A
GENERAL LIST OF PROJECTS
3 073 023 01.1 /1001379180 A-1
Grant Funded Debt Funded TOTAL
Capital Projects
Memorial Drive Widening
-
2,000,000
2,000,000
Phase 15 Street Reconstruction
-
2,000,000
2,000,000
-
4,000,000
4,000,000
Additional Capital Costs
Turner Street Bridge Repair
-
500,000
500,000
Electrical Efficiency Upgrades
-
500,000
500,000
Catalytic Converter Etching
181,362
45,340
226,702
Mobile Radio Replacment
-
172,053
172,053
Rec Center Outdoor Master Plan
-
100,000
100,000
Fire Chief Vehicle
-
96,000
96,000
Patrol Unit 804 Replacement
-
87,359
87,359
Patrol Unit 823 Replacement
-
87,359
87,359
Patrol Unit 824 Replacement
-
87,359
87,359
Patrol Unit 826 Replacement
-
87,359
87,359
501 Truck Replacement
-
74,200
74,200
554 Truck Replacement
-
74,200
74,200
Weather Station & Outdoor Weather Alerting
-
68,000
68,000
533E Chipper Replacement
-
50,000
50,000
Extrication Tools (Truck 14)
-
45,421
45,421
Chevy Colorado
-
43,000
43,000
Library RFID Equipment Replacement
-
36,627
36,627
Replace Vehicle 6421
-
34,987
34,987
Replace Vehicle 6811
34,987
34,987
City Fiber Network Tester
-
15,000
15,000
Library EasyPay Unit for Copy/Print/Fax
11,073
11,073
Supervisor Computers (5x)
-
9,000
9,000
Laser Etchers
6,400
1,600
8,000
187,762
2,260,924
2,448,686
187,762
6,260,924
6,448,686