RES 1434 08/23/2011 tJ OF C/0O
U r o
TfX0,
"City of Choice:
RESOLUTION NO. 1434
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE
COSTS INCURRED TO CONSTRUCT DRAINAGE IMPROVEMENTS
AND TO CONSTRUCT AND EQUIP BALLFIELDS AND PURCHASE
LAND RELATED THERETO
WHEREAS, on November 4, 2008, the voters of the CITY OF CIBOLO, TEXAS (the
"City") approved five bond propositions to fund various improvements throughout the City; and
WHEREAS, among those propositions, the voters approved the issuance of (i)
$9,200,000 in principal amount of bonds to construct drainage improvements in the City, and (ii)
$3,300,000 in principal amount of bonds to construct and equip ballfields and purchase land
related thereto; and
WHEREAS, the City Council of the City hereby determines that it is necessary and
desirable to make such drainage improvements and to construct and equip such ballfields and
acquire land related thereto as approved by the voters (collectively, the "Projects"); and
WHEREAS, the City expects that it will pay expenditures in connection with the Projects
prior to the issuance of tax-exempt obligations (the "Obligations")to finance the Projects; 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 to reimburse itself for such payments at
such time as the City issues Obligations to finance the Projects;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CIBOLO,
TEXAS THAT.
SECTION 1. EXPECTATION TO INCUR DEBT. The City reasonably expects to
incur debt, as one or more series of Obligations, with an aggregate maximum principal amount
equal to $8,650,000 for the purpose of paying the costs of the Projects; and
SECTION 2. REIMBURSEMENT OF PRIOR EXPENDITURES. All costs to be
reimbursed pursuant hereto will be capital expenditures. No Obligations will be issued by the
City in furtherance of this Resolution 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. THREE-YEAR LIMITATION FOR REIMBURSEMENT. The
foregoing notwithstanding, no Obligations will be issued pursuant to this Resolution more than
three years after the date any expenditure which is to be reimbursed is paid.
SECTION 4. INCORPORATION OF RECITALS. The City hereby finds that the
statements set forth in the recitals of this Resolution are true and correct, and the City hereby
incorporates such recitals as a part of this Resolution.
SECTION 6. EFFECTIVE DATE. This Resolution shall become effective
immediately upon passage thereof
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF CIBOL0,
TEXAS THIS 23RD DAY OF A UGUST, 2011.
J#fifer Fornan
Mayor
City of Cibolo, Texas
Attest:
l � yq�
Peggy Cimics
City Secretary
City of Cibolo, Texas
** ** ** ** **
SIGNATURE PAGE TO REIMBURSEMENT RESOLUTION
RELATING TO CONSTRUCTING DRAINAGE IMPROVEMENTS AND CONSTRUCTING
AND EQUIPPING BALLFIELDS AND PURCHASING LAND RELATED THERETO
CERTIFICATE FOR RESOLUTION
I, the undersigned City Secretary of the CITY of CIBOLO, TEXAS (the "City"), hereby certify as
follows:
1. The City Council of the City convened in Regular Meeting on the 23`d day of August, 2011 at
the designated meeting place, and the roll was called of the duly constituted officers and members of said
City Council, to wit:
Jennifer Hartman,Mayor Karen Hale, Councilmember, Place 4
Ron Pedde, Councilmember, Place 1 Larry Carlton, Councilmember, Place 5
Miguel Troncoso, Councilmember, Place 2 Steve Liparoto, Councilmember,Place 6
Gabriel Castro, Councilmember,Place 3 and Mayor Pro-Tem
Melvin Hicks, Councilmember, Place 7
and all of said persons were present, except the following absentees: 1,oct n c i orlaw" Tbrcoso,
thus constituting a quorum. Whereupon, among other business, the following was transacted at said
Meeting: a written Resolution No. 2011-048 entitled:
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS
INCURRED TO CONSTRUCT DRAINAGE IMPROVEMENTS AND TO
CONSTRUCT AND EQUIP BALLFIELDS AND PURCHASE LAND RELATED
THERETO
was duly introduced for the consideration of said City Council. It was then duly moved and seconded that
said Resolution be passed; and, after due discussion, said motion, carrying with it the passage of said
Resolution,prevailed and carried by the following vote:
AYES: 6 NOES: d ABSTENTIONS:
2. A true, full and correct copy of the aforesaid Resolution passed at the Meeting described in the
above and foregoing paragraph is attached to and follows this Certificate; said Resolution has been duly
recorded in said City Council' minutes of said Meeting; the above and foregoing paragraph is a true, full
and correct excerpt from said City Council' minutes of said Meeting pertaining to the passage of said
Resolution; the persons named in the above and foregoing paragraph are the duly chosen, qualified and
acting officers and members of said City Council as indicated therein; each of the officers and members
of said City Council was duly and sufficiently notified officially and personally, in advance, of the time,
place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered
for passage at said Meeting, and each of said officers and members consented, in advance, to the holding
of said Meeting for such purpose; and said Meeting was open to the public, and public notice of the time,
place and purpose of said Meeting was given, all as required by Texas Government Code, Chapter 551.
SIGNED AND SEALED the 23`d day of August,2011.
-79-7
Peggy Cimics, City Secretary
City of Cibolo,Texas
111
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