RESO 2000-27 - Street ImprovementsRESOLUTION NO. 2000-27
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, DECLARING EXPECTATION TO REIMBURSE
EXPENDITURES FOR STREET IMPROVEMENTS WITH PROCEEDS
FROM THE ISSUANCE OF DEBT; AND DECLARING AN EFFECTIVE
DATE.
WHEREAS, the City of Huntsville, Texas intends to issue debt for the construction of
sidewalks along the North Arterial, Smither Collector, Robinson Creek Parkway & Collector, South
Arterial & Brookhollow Drive, and Willow Street, herein referred to as "Proj ect," and further intends
to make certain capital expenditures for the Projects; and
WHEREAS, the City of Huntsville currently desires and intends to reimburse such capital
expenditures for the Project with proceeds of such debt; and
WHEREAS, in order to fund such reimbursements under Treas. Reg. § 1.150.2 (the
"Regulation ") with proceeds of tax - exempt obligations, the City of Huntsville must declare its
expectation to make sure reimbursements; and
WHEREAS, the City of Huntsville desires to preserve its ability to reimburse the
expenditures for the Project with proceeds of tax - exempt obligations; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS,
that:
SECTION 1: The City of Huntsville reasonably expects to reimburse capital expenditures
in the maximum amount of $500,000 for the construction of sidewalks along the North Arterial,
Smither Collector, Robinson Creek Parkway & Collector, South Arterial & Brookhollow Drive, and
Willow Street (the "Project ") with proceeds of debt hereinafter to be issued by the City of Huntsville,
and that this Resolution shall constitute a declaration of official intent under the Regulation. The
maximum principal amount of obligations to be issued for the Project is not expected to exceed
$500,000.
PASSED AND APPROVED ON THIS 26TH DAY OF SEPTEMBER 2000.
CITY OF HUNTSVI E, TEXAS
William B. Green, Mayor
APPROVED AS TO FORM:
Danna Welter, City Secretary
aul C. Isham, City Attorney