RESO 1996-13 - TRA ReimbursementsRESOLUTION NO. 96-13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, DECLARING EXPECTATION TO
REIMBURSE EXPENDITURES WITH PROCEEDS OF
FUTURE DEBT; AND MAKING OTHER PROVISIONS
RELATED THERETO.
WHEREAS the City of Huntsville, Texas intends to issue debt for the purpose of constructing
improvements and extensions to the City's combined waterworks and sewer system,
including sewer collection and treatment facilities and further intends to make certain
capital expenditures for the project and currently desires and expects to reimburse
such capital expenditures with proceeds of such debt; and
WHEREAS the City desires to preserve its ability to reimburse the capital expenditures 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 reasonably expects to reimburse capital expenditures with respect to the
project with proceeds of debt hereafter to be issued by the City, and that this
resolution shall constitute a declaration of official intent under Treasury Regulation
§ 1.150 -2. The maximum principal amount of obligations expected to be issued for
the project is $2,500,000.
PASSED AND ADOPTED this 15th day of October, 1996.
Danna Welter, City Secretary
APP
VED TO FO
ott Bo
ds, City Attorney
THE CITY OF HUNTSVLLE
William B. Green, Mayor