HomeMy WebLinkAbout6295-04-2026 - City Council - ResolutionA Resolution
NO.
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE 3RD MAIN TO
W 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 W 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 $750,000.00 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
COUNCIL
DISTRICT 5
MAYOR AND COUNCIL COMMUNICATION MAP
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