HomeMy WebLinkAboutRES 2016-049 RESOLUTION NO. 2016-049
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, AUTHORIZING INTENT TO
FINANCE FIRE EXPENDITURES TO BE INCURRED FOR
PURCHASE OF PROPERTY FOR A FIRE STATION AND
PROVIDING AN EFFECTNE DATE
WHEREAS, the City of Grapevine (the "City") is a municipal corporation and
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, construction, reconstruction or
renovation of the project listed on Exhibit "A" attached hereto (collectively, the "Fire
Financed Project"); and
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the Fire Financed Project; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
Fire Financed Project 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 Fire Financed Project; and
WHEREAS, all constitutional and statutory prerequisites for the approval of this
resolution have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this resolution to be 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 all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. 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, construction, reconstruction or
renovation of the Fire Financed Project from the proceeds of obligations to be issued
subsequent to the date hereof.
Section 2. The City reasonably expects that the maximum principal amount of
obligations issued to reimburse the City for the costs associated with the Fire Financed
Project will be $1,134,000 plus closing costs.
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 21St DAY OF JUNE, 2016.
APPROVED:
William D. ate
Mayor
ATTEST:
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Tara Brooks y`� ���
City Secretary '� `, �
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APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
Resolution No. 2016-049 2
EXHIBIT A
DESCRIPTION OF PROJECT
Purpose/Project Amount
Designing, constructing and equipping fire statians, including $1,517,137
the acquisition of land.
Resolutian Na. 2016-049 3