HomeMy WebLinkAboutResolution 6049-01-2025A Resolution
NO.6049-01-2025
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE 3rd MAIN TO WEST
FORK TRUNK MAINS
WHEREAS, the City of Fort Worth, Texas (the "City") is a home -rule municipality and
political subdivision of the State of Texas; and
WHEREAS, the City expects to pay expenditures in connection with the design, planning,
acquisition and construction for the 3RD Main to West Fork Trunk Mains Project (the
"Project") prior to the issuance of obligations by the City in connection with the financing of
the Project from available funds; and
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;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS, THAT:
Section 1. The City reasonably expects debt, as one or more series of obligations, may be
issued or incurred by the City with an aggregate maximum principal amount not to exceed
$ l 2,700,000.00 for the purpose of paying the aggregate costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No
obligations will be issued by the City in furtherance of this Statement after a date which is later than
I8 months after the later of (I) 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 obligation will be issued pursuant to this
Statement more than three years after the date any expenditure which is to be reimbursed is paid.
Adopted this 28' day of January 2025.
ATTEST:
By l!!I
Jannette S. Goodall, City Secretary