Resolution 95-16
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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 constructing street improvements and
improvements and extensions to the City's Waterworks and Sewer
System (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. S 1.150-2 (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 capital expendi tures 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 is $4,300,000.
PASSED AND ADOPTED this March 28, 1995.
ATTEST:
c7 ...OF . Wy~ TEXAS
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