HomeMy WebLinkAboutRES 2013-040RESOLUTION NO. 2013 -40
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 purchase of seven Ford vehicles for use 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 purchase; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
purchase 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 purchase.
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 purchase of seven Ford vehicles for use 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 purchase
will be $205,000.00.
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 16th day of April, 2013.
UNNNOU"s
William D. Tate
Mayor
ATTEST:
Jodi Brown
City Vecretary
F-Al %1:1 0.141Tj a bF."Ns re][0919un
John F. Boyle, Jr.
City Attorney
RES. NO. 2013-40