RE 11-12-96.1 RESOLUTION OF CITY OF COPPELL 111296.1
EXPRESSING OFFICIAL INTENT TO REIMBURSE
COSTS OF PROJECT
THE STATE OF TEXAS §
COUNTIES OF DALLAS AND DENTON §
CITY OF COPPELL §
WHEREAS, the City of Coppell (the "Issuer") expects to pay expenditures incurred for the
construction and development of an all-season aquatic facility, a community multi-purpose recreation
facility, an athletic complex, and the first phase of a hike and bike trail system (the "Project") prior to the
issuance of bonds by the Coppell Economic Development Corporation to finance such Project; and
WHEREAS, the City Council of the Issuer finds, considers, and declares that the reimbursement
of the Issuer for the payment of such expenditures will be appropriate and consistent with the lawful
objectives of the Issuer and, as such, chooses to declare its intention, in accordance with the provisions of
Section 1.150-2 of the Treasury Regulations, to reimburse itself for such payments at such time as it issues
obligations to finance the Project.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS THAT:
Section 1. The Issuer reasonably expects the Coppell Economic Development Corporation to
incur debt, as one or more series of obligations, with an aggregate maximum principal amount equal to
$ 6.231~I for the purpose of paying the costs of the Project, and it is reasonably expected that the
proceeds shall be used to reimburse the Issuer for certain costs of all or any part of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-
exempt obligations will be issued by the Coppell Economic Development Corporation in furtherance of this
Statement after a date which is later than 18 months after the later of (1) the date the expenditures are paid
or (2) the date on which the property, with respect to which such expenditures were made, is placed in
service.
SIGNED AND SEALED this the {~),',4 day of (}~ab~, 1996.
CITY OF COPPELL
Mayor
ATTEST:
City Secretary
SEAL
RESOLUTION OF THE COPPELL ECONOMIC DEVELOPMENT CORPORATION
EXPRESSING OFFICIAL INTENT TO REIMBURSE
COSTS OF PROJECT
THE STATE OF TEXAS §
COUNTIES OF DALLAS AND DENTON §
COPPELL ECONOMIC DEVELOPMENT CORPORATION §
WHEREAS, the Coppell Economic Development Corporation (the "Issuer") expects to pay
expenditures incurred for the construction and development of an all-season aquatic facility, a community
multi-purpose recreation facility, an athletic complex, and the first phase of a hike and bike trail system
(the "Project") prior to the issuance of bonds by the Corporation to finance such Project; and
WHEREAS, the Board of Directors of the Issuer finds, considers, and declares that the
reimbursement of the City of Coppell for the payment of such expenditures will be appropriate and
consistent with the lawful objectives of the Issuer and, as such, chooses to declare its intention, in
accordance with the provisions of Section 1.150-2 of the Treasury Regulations, to reimburse itself for such
payments at such time as it issues obligations to finance the Project.
THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COPPELL
ECONOMIC DEVELOPMENT CORPORATION, THAT:
Section 1. The Issuer reasonably expects to incur debt, as one or more series of obligations,
with an aggregate maximum principal amount equal to $ 6. 231~1 for the purpose of paying the costs
of the Project, and it is reasonably expected that such proceeds shall be used to reimburse the City of
Coppell for certain costs of all or any part of the Project.
$¢¢tign 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-
exempt obligations will be issued by the Issuer in furtherance of this Statement after a date which is later
than 18 months after the later of (1) the date the expenditures are paid or (2) the date on which the
property, with respect to which such expenditures were made, is placed in service.
SIGNED AND SEALED this the 2~9 day of October, 1996.
COPPELL ECONOMIC DEVELOPMENT CORPORATION
President, Board of Directors
ATTEST:
Secretary,
SEAL