HomeMy WebLinkAboutResolution - 4150 - Declares Expectation To Reimburse Expeditures W_Proceeds Sec. 271.005 - 05_13_1993Resolution No. 4150
May 13, 1993
Item #42
A RESOLUTION DECLARING EXPECTATION
TO REIMBURSE EXPENDITURES WITH PROCEEDS OBTAINED
PURSUANT TO SEC. 271.005, TEXAS LOCAL GOVERNMENT CODE
WHEREAS, the City of Lubbock, Texas, intends to make expenditures from
current funds for the acquisition of personal property as set forth in City
of Lubbock RFP #12099, as amended; and
WHEREAS, the City of Lubbock intends to avail itself of the provisions
of Sec. 217.005, Texas Local Government Code to secure tax exempt financing
of said personal property; and
WHEREAS, the City of Lubbock desires to preserve its ability to
reimburse the expenditure made from current funds with the proceeds obtained
from tax exempt financing as provided by Sec. 271.005 of the Texas Local
Government Code; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City reasonably expects to reimburse the expenditures made on
behalf of City RFP #12099 with the proceeds of tax exempt financing obtained
pursuant to Sec. 271.005 of the Texas Local Government Code in the principal
amount of $2,348,753, and that th' olution shall constitute a
declaration of official intent o under -take such reimbursement.
Passed by the City Council this 1 Ui,,Aiy of
ATTEST:
ty o nso , City ecretary
APPROVED AS TO CONTENT:
o ert Massengale, Assi ant City
Manager
APPROVED AS.'�4 ORM:
G
n C. Ross, Jr., City Attorney
JCR:dw/agenda-D1/RFP12099.res
May 4, 1993
, 1993.