Resolution 2007-41 RESOLUTION NO. 2007-41(R)
A RESOLUTION OF THE CITY OF WYLIE, TEXAS
DECLARING EXPECTATION TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE
DEBT.
WHEREAS, the City of Wylie, Texas (the "Issuer") intends to issue debt for
constructing and equipping improvements for Fire Station No. 3, (the "Project") and further
intends to make certain capital expenditures for the Project and currently desires and expects to
reimburse such capital expenditures with proceeds of such debt; and
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
withproceeds of tax-exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WYLIE, TEXAS:
Section 1: That the Issuer reasonably expects to reimburse capital expenditures with
respect to the Project from funds on hand with the 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 Project
is $2,000,000.
DULY PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
WYLIE this the 1 lth day of December 2007.
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Resolution No. 2007-41(R)
Declaring expectation to
Reimburse Expenditures
70117509.1/10715955