HomeMy WebLinkAboutResolution 4483-06-2015 A Resolution
NO. 4483-06-201.5.
STATEMENT EXPRESSING
OFFICIAL INTENT TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE
CULTURAL DISTRICT WILL ROGERS WATER AND SEWER
IMPROVEMENTS, PART 4 PROJECT
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 top expenditures from available
funds for the design, planning, acquisition, and construction of the
Cultural District Will Rogers Water and Sewer Improvements, Part 4
project (the "Project"), as shown on the attached map, prior to the
issuance of obligations by the City to finance the Project; 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:
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 $2,225,000.00 fort 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 o f t his
Statement after a to which is later than 18 months after the later of (1) the
date the expenditures are paid or (2) the to 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 th.isl6thday of June 2015.
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Mary Kayser, e retary
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