HomeMy WebLinkAboutItem 15 - Fire StationMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER �"
MEETING DATE: JUNE 21, 2016
SUBJECT: A RESOLUTION AUTHORIZING INTENT TO REIMBURSE
CERTAIN FIRE EXPENDITURES FROM THE PROCEEDS OF
DEBT OBLIGATIONS
City Council to consider approving a resolution expressing intent to finance fire
department expenditures to be incurred relative to acquisition of land, exchange, lease,
sale, or value of facilities.
FUNDING SOURCE:
Future sale of obligations with a reasonable expectation of maximum principal amount of
$1,200,000.
This item is placed on your agenda to allow for the expenditure of funds related to the
costs relative to acquisition of land, exchange, lease, sale, or value of facilities discussed
at executive session on June 7, 2016. City Council authorized the acquisition of
approximately 2.74 acres at 3091 Dove Road for the appraised value plus closing costs.
This item gives us the option to reimburse ourselves for expenditures should bonds be
issued within 18 months of the date of the expenditure.
Chief Financial Officer recommends approval.
GJ
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, AUTHORIZING INTENT TO
FINANCE EXPENDITURES TO BE INCURRED FOR
PURCHASE OF PROPERTY FOR A FIRE STATION AND
PROVIDING AN EFFECTIVE 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 "Financed
Project"); and
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the Financed Project; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
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 Financed Project in the future; 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 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 Financed
Project will be $1,200,000.
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 DAY OF JUNE 21, 2016
099•s N
William D. Tate
Mayor
ATTEST:
Tara Brooks
City Secretary
John F. Boyle, Jr.
City Attorney
Resolution No. 2
ANURIM,
Purpose/Project Amount
Designing, constructing and equipping fire stations, including $1,200,000
the acquisition of land.
Resolution No.