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HomeMy WebLinkAboutResolution - 3823 - Declare Intent To Reimburse Projects With SRF Funds - 02_27_1992Resolution No. 3823 February 27, 1992 Item #2y A RESOLUTION relating to the reimbursement of City funds to be expended for costs of construction of an administration and maintenance building, an activated sludge plant, headworks facilities, solids handling facilities; anaerobic digester rehabilitation and an effluent discharge pipeline to the North Fork Double Mountain Fork Brazos River with associated dechlorination/reaeration facility from the proceeds of sale of debt obligations; and resolving other matters incident and related thereto. WHEREAS, City of Lubbock, Texas (the "City") intends to construct an administration and maintenance building, an activated sludge plant, headworks facilities, solids handling facilities; anaerobic digester rehabilitation and an effluent discharge pipeline to the North Fork Double Mountain Fork Brazos River with associated dechlorination/reaeration facility (the "Project"), and proposes to issue debt to finance the cost of the Project; and WHEREAS, prior to issuing its debt obligations, the City will incur certain costs in connection with the Project; and WHEREAS, the City plans to reimburse itself for expenditures made in connection with the Project prior to the issuance of its debt; and WHEREAS, regulations issued under the Internal Revenue Code of 1986 (the "Code") impose certain requirements in order that such reimbursement is treated as an expenditure of bond proceeds for federal tax law purposes, including the taking of official action by the adoption of a resolution evidencing the City's intention to reimburse city funds expended for a project or purpose to be financed with the proceeds of debt obligations; now, therefore, BE IT RESOLVED BY THE CITY OF LUBBOCK, TEXAS: SECTION 1: That the following proposed reimbursement plan is approved: 1. This Resolution is a declaration of official intent under Treasury Regulation section 1.103-18(f). The City reasonably expects to reimburse itself for expenditures to be made to construct an administration and maintenance building, an activated sludge plant, headworks facilities, solids handling facilities; anaerobic digester rehabilitation and an effluent discharge pipeline to the North Fork Double Mountain Fork Brazos River with associated dechlorination/reaeration facility with proceeds of debt to be incurred by the City. 2. The maximum principal amount of debt expected to be issued for reimbursement purposes with respect to the Project is $2,419,000. SECTION 2: This Resolution will be available for inspection by the general public at the main administrative offices of the City during normal business hours on each business day through and including the date of issue of the debt obligations. PASSED AND ADOPTED, this February 27, 1992. CITY OF LUBBOCK, TEXAS ayo r B . C . McMinn ATTEST: City ecretary Ranette yd -2- 6 9 6 9 E Resolution No. 3823 February 27, 1992 Item #22 CERTIFICATE OF CITY SECRETARY THE STATE OF TEXAS § § COUNTY OF LUBBOCK § § CITY OF LUBBOCK § I, the undersigned, City Secretary of the City of Lubbock, Texas, DO HEREBY CERTIFY as follows: 1. That on the 27th day of February, 1992, the City Council of the City of Lubbock, Texas, convened in regular session at its regular meeting place in the City Hall of said City; the duly constituted members of the Council being as follows: B. C. MCMINN MAYOR T. J. PATTERSON BILL MALOY GARY D. PHILLIPS JOAN BAKER MAGGIE TREJO M.J. ADERTON MAYOR PRO TEM COUNCILMEMBER COUNCILMEMBER COUNCILMEMBER COUNCILMEMBER COUNCILMEMBER all of said persons were present at said meeting, except the following: None Among other business considered at said meeting, the attached resolution entitled: A RESOLUTION relating to the reimbursement of City funds to be expended for costs of construction of an administration and maintenance building, an activated sludge plant, headworks facilities, solids handling facilities; anaerobic digester rehabilitation and an effluent discharge pipeline to the North Fork Double Mountain Fork Brazos River with associated dechlorination/reaeration facility from the proceeds of sale of debt obligations; and resolving other matters incident and related thereto. was introduced and submitted to the Council for passage and adoption. After presentation and due consideration of the resolution, and upon a motion made by Councilmember M. J. Aderton and seconded by Councilmember Joan Baker the resolution was finally passed and adopted by the Council by the following vote: 7 voted "For" _0 voted "Against" 0 abstained all as shown in the official Minutes of the Council for the meeting held on the aforesaid date. 2. That the attached resolution is a true and correct copy of the original on file in the official records of the City; the duly qualified and acting members of the City Council of the City on the date of the aforesaid meeting are those persons shown above and, according to the records of my office, each member of the Council was given actual notice of time, place and purpose of the meeting and had actual notice that the matter would be considered; and that said meeting, and deliberation of the aforesaid public business, was open to the public and written notice of said meeting, including the subject of the entitled resolution, was posted and given in advance thereof in compliance with the provisions of Article 6252-17, Section 3A, V.A.T.C.S. IN WITNESS WHEREOF, I have hereunto signed my name officially and affixed the seal of said City, this the 27th day of February, 1992. City ecretary Ranette Boyd City of Lubbock, Texas (City Seal) -2- 6 9 7 0 E FULBRIGHT & JAWORSKI 2200 Ross AVENUE SUITE 2800 HOUSTON WASHINGTON, D.C. DALLAS,TEXAS 75201 AUSTIN SAN ANTONIO DALLAS TELEPHONE:214/855-8000 NEW TORK FACSIMILE: 214/855-8200 LOS ANGELES LONDON ZURICH WRITERS DIRECT DIAL NUMBER: HONG KONG February 21, 1992 VIA FEDERAL EXPRESS Mr. Robert Massengale City of Lubbock, Texas 1625 13th Street Lubbock, Texas 79401 Dear Robert: Enclosed please find four copies each of a Reimbursement Resolution and the Certificate of City Secretary relating to the Reimbursement Resolution. Once executed, please return all copies of the documents to us. Please call if you have any questions. Very truly yours, Mark S. Westergard MSW:1C Enclosures 0 0 0 1 E- 7 5