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
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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)
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FULBRIGHT & JAWORSKI
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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
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