HomeMy WebLinkAboutRES 2017-091 RESOLUTION NO. 2017-091
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 City has awarded a contract to Coury Hospitality for the design and
construction of the Grapevine Main Station; and
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the contract; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
contract from the proceeds of obligations to be issued subsequently to the date hereof; and
WHEREAS, the City reasonably expects to issue obligations to reimburse itself for
the costs associated with the contracts; 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. That the City reasonably expects to reimburse itself for the 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 design and construction of the Grapevine
Main Station from the proceeds of obligations to be issued subsequent to the date hereof.
Section 3. That the City reasonably expects that the maximum principal amount
of obligations, issuance costs and the costs incurred to reimburse the City for contracts is
estimated to be $38,045,000.00.
Section 4. 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 the 21st day of November, 2017.
APPROVED:
Willi m D. Tate
Mayor
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Tara Brooks
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
Resolution No. 2017-091 2