HomeMy WebLinkAboutRES 2013-028RESOLUTION NO. 2013 -28
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 will make, or has made not more than 60 days prior to the date
hereof, payments with respect to the acquisition of lighted street signs; 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.
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 lighted street signs 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
acquisition will be $200,000.00.
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 the 19th day of March, 2013.
NMUS ' s
William D. Tate
Mayor
ATTEST:
D
Jo i Brown
Cit Secretary
Fil :to
John F. Boyle, Jr.
City Attorney
RES. NO. 2013 -28 2