HomeMy WebLinkAboutItem 17 - Reimbursement Chevrolet Vehicles I L..L III :# I.
MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGES
MEETING DATE: FEBRUARY 19, 2013
SUBJECT: REIMBURSEMENT RESOLUTION FOR THE ACQUISITION
AND SPECIALIZED EQUIPMENT OF 22 NEW CHEVROLET
VEHICLES FOR THE POLICE DEPARTMENT
RECOMMENDATION:
Consider a reimbursement resolution expressing intent to finance expenditures to be
incurred relative to the acquisition and specialized equipment of 22 new Chevrolet
vehicles for the Police Department.
BACKGROUND:
This resolution allows for the reimbursement of preliminary expenses for the acquisition
and specialized equipment of 22 new Chevrolet vehicles for the Police Department from
future Certificates of Obligation.
February 1 , 2013(11:07A M)
EII\A # 17
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, EXPRESSING INTENT TO FINANCE
EXPENDITURES TO BE INCURRED 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 it will make, or has made not more than 60 days prior to the
date hereof, payments with respect to the acquisition and specialized equipment of 22
new Chevrolet Vehicles as specified by the Police 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 specialized
equipment; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
acquisition and specialized equipment 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 specialized equipment.
NOW, THEREFORE, BE 11-T 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 to that is 60 days prior to the date hereof
and that are to be paid in connection with the acquisition and specialized equipment of
22 new Chevrolet Vehicles as specified by the Police 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, issuance costs and the costs incurred to reimburse the City for
the costs associated with the acquisition and specialized equipment will be
$830,000.00.
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 1 9th day of February, 2013.
L.. II :# 1.
APPROVED:
ATTEST:
APPROVED AS TO FORM:
RES. NO. 2