Resolution 99-18
RESOLUTION NO. 9~ -l ~oz, )
A RESOLUTION DECLARING EXPECTA TION 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 improvements, drainage improvements and park improvements (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. 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 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 $3,200,000.
DULY PASSED AND APPROVED by the Wylie City Council this 13th day
oOuly, 1999.
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\ ... .., l() ondy, Mayor
ATTEST:
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