Resolution 95-12
Resolution No.
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A Resolution declaring expectation to reimburse expenditures with
proceeds of future debt.
WHEREAS, the City of Wylie, Texas (the "Issuer") intends to issue debt for the
purpose of purchasing personal property (the "Projects") and further intends to
make certain capital expenditures for the Projects and currently desires and expects
to reimburse such capital expenditures with proceeds of such debt~
WHEREAS, under Treas. Reg. ~ 1.50-2 (the "Regulation"), to fund such
reimbursement with proceeds of tax-exempt obligations the Issuer must declare its
expectation to make such reimbursement~ and
WHEREAS, the Issuer desires to preserve its ability to reimburse the Expenditures
with proceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WYLIE, TEXAS, THAT the Issuer reasonably expects to reimburse
capital expenditures with respect to the Projects with proceeds of debt hereafter to
be issued by the Issuer, and that this resolution shall constitute a declaration of
official intent under the Regulation. The maximum principal amount of obligations
expected to be issued for the Projects if $330,000.
PASSED AND ADOPTED this March 14, 1995.
CIllY OF WYLIE, TEXAS
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ATTEST:
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Mary N ch s, City ecretary