HomeMy WebLinkAboutRES 2013-027RESOLUTION NO. 2013 -27
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 preliminary design and land preparation costs
associated with the construction of a Public Safety Building; and,
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the preliminary design and land
preparation; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
preliminary design and land preparation 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 preliminary design and land preparation.
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 preliminary design and land preparation associated
with the construction of a Public Safety Building 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 preliminary design and land preparation will be $500,000.00.
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.
FI-11 ��
ATTEST:
Jodi Brown
City Vcretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
RES. NO. 2013-27 2