RES 1378 01/13/2009 RESOLUTION NO. 1 -178
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE WITH
TAX-EXEMPT OBLIGATION PROCEEDS COSTS INCURRED TO MAKE
PUBLIC SAFETY, STREET AND DRAINAGE IMPROVEMENTS
STATE OF TEXAS §
COUNTY OF GUADALUPE §
CITY OF CIBOLO §
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)$6,400,000
in principal amount of bonds to construct and improve public safety facilities in the City including
but not limited to a new police station and a new fire station,(ii)$4,200,000 in principal amount of
bonds to construct and improve the City's streets,sidewalks and related drainage,including but not
limited to improvements to Cibolo Valley Drive North and South,and(iii)$9,200,000 in principal
amount of bonds to construct drainage improvements in the City; and
WHEREAS,the City Council ofthe City hereby determines that it is necessary and desirable
to begin making certain public safety improvements, street improvements and drainage
improvements 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 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, 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 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 currently
estimated not to exceed$8,750,000, the proceeds of which are expected to be used for the purpose
of paying the costs of the Projects.
SECTION 2. REIMBURSEMENT OF PRIOR EXPENDITURES. All costs to be
reimbursed pursuant hereto will be capital expenditures within the meaning of Section 1.150-2 of
the Treasury Regulations. No tax-exempt 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 tax-exempt obligation 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. PUBLIC RECORD. The City Council directs that this Resolution shall be
maintained as a public record available for inspection by all persons in accordance with the
provisions of Chapter 552, Texas Government Code, and that no later than 30 days after this date,
this Resolution will be made available for inspection by all members of the general public at the
offices of the City.
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-2-
APPROVED BY THE CITY COUNCIL OF THE CITY OF CIBOLO, TEXAS ATA
REGULAR MEETING HELD ON THE 13TH DAY OF JANUARY, 2009.
yor, Ci f Cibo 0
Attest:
City Secretary, City of Cibolo
[EXECUTION PAGE TO REIMBURSEMENT RESOLUTION]
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS §
COUNTY OF GUADALUPE §
CITY OF CIBOLO §
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 13'DAY
OF JANUARY, 2009 at the City Hall, and the roll was called of the duly constituted officers and
members of said City Council, to wit:
Jennifer Hartman, Mayor Mark Winn, Councilmember Place 4
Ron Pedde, Councilmember Place 1 Diane Davis, Councilmember Place 5
Tony Krasnai, Councilmember Place 2 Steve Liparoto, Councilmember Place 6
Atrell Owens,Councilmember Place 3 Richard(Dick)Hetzel, Councilmember Place 7
and all of said officers and members of said City Council were present, except the following
absentees: Whereupon,among other business,the
following was transacted at said Meeting: a written
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE WITH
TAX-EXEMPT OBLIGATION PROCEEDS COSTS INCURRED TO MAKE
PUBLIC SAFETY, STREET AND DRAINAGE IMPROVEMENTS
was duly read. It was then duly moved and seconded that said Resolution be adopted;and,after due
discussion, said motion, carrying with it the adoption of said Resolution,prevailed and carried by
the following vote:
AYES: 7 NOES: 0 ABSTENTIONS: !a'
2. A true,full and correct copy of the aforesaid Resolution adopted at the Meeting described
in the above and foregoing paragraph is attached to and follows this Certificate;the Resolution has
been duly recorded in said City Council's minutes of said Meeting; the above and foregoing
paragraph is a true, full and correct excerpt from said City Council's 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 that said Meeting was open to the public and public notice of the time,place and
ose of said meeting was given, all as required by Chapter 551, Texas Government Code.
TGNED AND SEALED the 13th day of January, 2009.
City Secretary