HomeMy WebLinkAboutRES 2015-071RESOLUTION NO. 2015-071
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, AUTHORIZING THE
REIMBURSEMENT OF CERTAIN EXPENDITURES TO BE
INCURRED FROM FUTURE TAX-EXEMPT OBLIGATIONS
AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City of Grapevine, Texas (the "City") is a political subdivision of
the State of Texas authorized to finance its activities by issuing obligations; and
WHEREAS, the City will make, or has made not more than 60 days prior to the
date hereof, payments with respect to the acquisition of vehicle and equipment specified
by the Fire Department; and
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the acquisition; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
acquisition from the proceeds of obligations to be issued subsequent to the date hereof;
and
WHEREAS, the City reasonably expects to issue obligations to reimburse itself
for the costs associated with the acquisition; and
WHEREAS, all legal prerequisites for the adoption of this resolution have been
met, including but not limited to the Local Government Code and the Open Meetings
Act; and
WHEREAS, the City Council hereby declares that the approval of this resolution
is in the best interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. That the City reasonably expects to reimburse itself for costs that
have been, or will be paid subsequent to the date that is 60 days prior to the date hereof
and that are to be paid in connection with the acquisition of a new Pierce Pumper Fire
Truck as specified by the Fire Department from the proceeds of obligations to be issued
subsequent to the date hereof.
Section 2. That the City reasonably expects that the maximum principal
amount of obligations issued to reimburse the City for the costs associated with the
acquisition will be $690,000.
Section 3. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this 17th day of November 17, 2015.
ATTEST:
I hid, 6A a-&
Tara Brooks
City Secretary
John F. Boyle, Jr"'.'
City Attorney
RES. No. 2015-071 2