RES 1447 03/27/2012 r0
TAX PPS
"City of Choice"
RESOLUTION NO. 1447
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE
COSTS INCURRED TO ACQUIRE, CONSTRUCT AND EQUIP WATER
AND WASTEWATER SYSTEM IMPROVEMENTS
WHEREAS, the City Council of the CITY OF CIBOLO, TEXAS (the "City) hereby
determines that it is necessary and desirable to acquire certain assets to become part of the City's
existing Waterworks and Sewer System and to construct and equip improvements to the
Waterworks and Sewer System, including the construction of a new 12 inch water line
(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 TRA T.
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
currently estimated not to exceed $27,000,000, 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 CIBOLO, TEXAS
THIS 27THDAYOFMARCH2012.
Jennifer artman
Mayor, City of Cibolo
ATTEST:
Peggy Cimics
City Secretary, City of Cibolo
SIGNATURE PAGE TO REIMBURSEMENT RESOLUTION
RELATING TO WATERWORKS AND SEWER SYSTEM IMPROVEMENTS
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 27"' day of March, 2012 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 Melvin Hicks, Councilmember, Place 7
and all of said persons were present, except the following absentees: b r i a, v
thus constituting a quorum. Whereupon, among other business, the following was transacted at said
Meeting: a written Resolution No. 2012- iKy 7 entitled:
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS
INCURRED TO ACQUIRE, CONSTRUCT AND EQUIP WATER AND
WASTEWATER SYSTEM IMPROVEMENTS
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: 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 27`h day of March,2012.
Peggy Cimics, City Secretary
City of Cibolo, Texas
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