RESO 2007-09 - Intent to reimburse expenditures related to TRA bondsRESOLUTION 2007 -09
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE
CERTAIN EXPENDITURES
WHEREAS, the City of Huntsville, Texas (the "City ") expects to pay expenditures in
connection with the project described on Exhibit "A" attached hereto (the "Project ") prior to the
issuance of obligations to finance the Project;
WHEREAS, the City finds, considers and declares that the reimbursement of the City for
the payment of such expenditures will be appropriate and consistent with the lawful objectives of
the City and, as such, chooses to declare its intention, in accordance with the provisions of Section
1.150 -2 of the Treasury Regulations, to reimburse itself for such payments at such time as it issues
obligations to finance the Project;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS THAT:
Section 1. The City reasonably expects to incur debt, as one or more separate series of
various types of obligations, with an aggregate maximum principal amount not to exceed $1,995,000
for the purpose of paying the costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No
tax - exempt obligations will be issued by the City in furtherance of this Resolution after a date which
is later than 18 months after the later of (1) the date the expenditures are paid or (2) the date on
which the property, with respect to which such expenditures were made, is placed in service.
Section 3. The foregoing notwithstanding, no tax - exempt obligation will be issued
pursuant to this Resolution more than three years after the date any expenditure which is to be
reimbursed is paid.
HUNTSVILLE2007: ReimburseRes
PASSED AND APPROVED THIS PILL 0 (ifs bC,' DO 47 ,
M
Cit"r Huntsville, Texas
HUNTSVILLE2007: ReimburseRes
EXHIBIT A
ENGINEERING STUDY FOR THE TRINITY RIVER AUTHORITY- CITY OF
HUNTSVILLE PLANT IMPROVEMENT AND UPGRADE PROJECT
HUNTSVILLE2007: ReimburseRes