Resolution 98-12
RESOLUTION NO. 1~'" \ 2. (R.)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE,
TEXAS, DECLARING EXPECTATION TO REIMBURSE EXPENDITURES
WITH PROCEED OF FUTURE DEBT.
WHEREAS, the City of Wylie, Texas (the Issuer) intends to issue debt to
construct and enlarge Fire Stations and to purchase equipment and software for
various departments, including Police, Fire, Courts, Parks, Public Works and
Community Development departments, (collectively, the "Projects") and further
intends to make certain capital expenditures for the Projects and currently desires ad
expects to reimburse such capital expenditures with proceeds on such debt;
WHEREAS, under Treas. Reg. 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
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 hereinafter to
be issued by the Issuer, and that this resolutions shall constititue a declaration of
official intent under the Regulation. The maximum amount of obligations expected
to be issued for the Projects is $1,060,000.
PASSED AND APPROVED this 23rd day of June, 1998.
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Attest: