Resolution 98-20
RESOLUTION NO. gf3... /JO
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 construction
of street and drainage improvements, including utility line relocation (collectively, 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 1.150-2 (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, 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 $700,000.
PASSED AND APPROVED this December 15, 1998.
CITY OF WYLIE, TEXAS
ATTEST: