HomeMy WebLinkAbout6293-04-2026 - City Council - ResolutionA Resolution
NO.
STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE
WATER AND SANITARY SEWER REPLACEMENT CONTRACT 2023
WSM-L
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 Water and Sanitary Sewer Replacement Contract 2023 WSM-L
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
$10,000,000.00 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 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 obligation will be issued pursuant to this
Statement more than three years after the date any expenditure which is to be reimbursed is paid.
Section 4. This resolution shall be effective from and after its passage by the City Council.
Adopted this day of 2026.
ATTEST:
By: _________________________________
Jannette Goodall, City Secretary
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