HomeMy WebLinkAboutResolution - 2018-R0169 - LP&L Bond Intent For Reimbursement - 05/10/2018Resolution No. 2018-RO169
Item No. 7.7
May 10, 2018
RESOLUTION EXPRESSING INTENT TO
FINANCE EXPENDITURES TO BE INCURRED
WHEREAS, the City of Lubbock, Texas (the "Issuer") is a political subdivision of the
State of Texas authorized to finance its activities by issuing debt obligations, the interest on
which is excludable from gross income under Section 103 of the Internal Revenue Code of 1986,
as amended (the "Obligations");
WHEREAS, the Issuer will make or has made, not more than 60 days prior to the date
hereof, payments for capital expenditures with respect to the acquisition, construction,
reconstruction or renovation of the projects listed on Exhibit A attached hereto;
WHEREAS, the Issuer has concluded that it does not currently desire to issue Obligations
to finance costs associated with the projects listed on Exhibit A attached hereto;
WHEREAS, the Issuer desires to reimburse itself for capital expenditures associated with
the projects listed on Exhibit A attached hereto from the proceeds of Obligations to be issued
subsequent to the date hereof; and
WHEREAS, the Issuer reasonably expects to issue Obligations to reimburse itself for the
costs associated with the projects listed on Exhibit A attached hereto.
NOW, THEREFORE, be it resolved that:
Section 1. The Issuer reasonably expects to reimburse itself for capital expenditures that
have been or will be paid subsequent to the date that is 60 days prior to the date hereof, but not
more than 18 months after the date hereof, and that are to be paid in connection with the
acquisition, construction, reconstruction or renovation of the projects listed on Exhibit A attached
hereto from the proceeds of Obligations to be issued subsequent to the date hereof.
Section 2. The Issuer reasonably expects that the maximum principal amount of
Obligations issued to reimburse the Issuer for the costs associated with the property listed on
Exhibit A attached hereto will not exceed $110,000,000.
4160-3042-5619.1
Texas.
ADOPTED THIS loth day of May, 2018, by the City Council of the City of Lubbock,
DANIEL M. POPE, MAYOR
ATTEST:
Rebe ca Garza
City Secretary
APPROVED AS TO CONTENT:
D. Blu Ko elich
Chief Financial Officer
APPROVED AS TO FORM:
Jerry V le, Jr.
Bond Counsel
4160-3042-5619.1
EXHIBIT A
4160-3042-5619.1
Lubbock Power and Light
Finance Department
FY 2017-18 Bond Issuance
8625 Field Asset Inventory & Data Verification
10-Year
$
2,650,000.00
92457
Customer Service Information Systems
10-Year
31,484,089.00
92537
GIS Software Solution
10-Year
1,215,000.00
$
35,349,089.00
92282
Downtown Redevelopment Underground
20-Year
$
530,000.00
92462
Substation Capacity Upgrade - McDonald
20-Year
3,265,000.00
92464
Future Substation - North
20-Year
120,000.00
92476
Future Substation - Red Raider
20-Year
5,232,975.64
92523
Distribution Capacitor Banks
20-Year
895,000.00
92524
Milwaukee Ave Underground Feeders
20-Year
885,000.00
92525
New Slide Rd Feeder Line
20-Year
865,000.00
92538
Mobile Substation
20-Year
2,555,000.00
$ 14,347,975.64
92331 Fiberoptic Communications
30-Year
$ 850,305.42
92403 69/115kV Line Rebuild: Thompson -Vicksburg
30-Year
1,530,000.00
92404 115kV Line Construction — Northwest to Mackenzie
30-Year
6,870,000.00
92405 69/115kV Line Rebuild: Chalker -Thompson
30-Year
3,390,000.00
92406 69/115kV Line Rebuild: Chalker -Oliver
30-Year
3,230,000.00
92407 Autotransformer - Southeast
30-Year
720,000.00
92458 69/115kV Line Rebuild: Brandon -Vicksburg
30-Year
250,000.00
92459 69/115kV Line Rebuild: Brandon -Erskine
30-Year
85,000.00
92460 69/115kV Line Rebuild: Erskine -Mackenzie
30-Year
380,000.00
92466 Autotransformer - Co-op
30-Year
1,800,000.00
92467 Autotransformer - Vicksburg
30-Year
2,015,000.00
92468 Autotransformer - Mackenzie
30-Year
2,015,000.00
92469 Substation Rebuild - Holly
30-Year
70,000.00
92472 Substation Rebuild - Slaton
30-Year
7,950,000.00
92473 Future Substation - New Oliver 345kV
30-Year
1,535,000.00
92474 Future Substation - North Addition 345kV
30-Year
1,535,000.00
92475 Future Substation - New Wadsworth 345kV
30-Year
1,535,000.00
92477 69/115kV Line Rebuild: Holly -Southeast
30-Year
75,000.00
92478 69/115kV Line Rebuild: Holly-Slaton
30-Year
885,000.00
92480 69/115kV Line Rebuild: Southeast -Oliver
30-Year
2,615,000.00
92484 Substation Relay Upgrade
30-Year
1,110,000.00
92499 69/115kV Line Rebuild: Co-op to Mackenzie
30-Year
200,000.00
92500 69/115kV Line Reconductor - Holly to Wadsworth
30-Year
110,000.00
9250169/115kV Line Reconductor - Co-op to Wadsworth
30-Year
390,000.00
92526 115kV Line Construction - Northwest to XFAB
30-Year
1,385,000.00
92533 115kV Line Construction - Chalker to New Oliver
30-Year
1,025,000.00
92534115kV Line Construction - Oliver to New Oliver
30-Year
890,000.00
2018026 115kV Line Construction - Red Raider Tap
30-Year
400,000.00
2018038 345kV Transmission Line
30-Year
3,555,000.00
$ 48,400,305.42
$ 98,097,370.06
4160-3042-5619.1