RESO 2000-15 - Street ImprovementsRESOLUTION NO. 2000-15
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
Collard Street and purchase of right -of -way for the Urban Arterial Road - Southern Portion, herein
referred to as "Projects," 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 Projects 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 extension of Collard Street and right -of -way purchases for the Urban Arterial
Road - Southern Portion 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 $600,000 for the extension of Collard Street and right -of -way purchases
for the Urban Arterial Road - Southern Portion 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 Projects is not
expected to exceed $600,000.
PASSED AND APPROVED ON THIS 27TH DAY OF JUNE, 2000.
CITY OF HUNTSVILLE, XAS
By:
ilham B. Green, Mayor
AT EST: APPROVED AS TO FORM:
Danna Welter, City Secretary
Paul C. Isham, City Attorney