RE 2007-0508.3
RESOLUTION No. ~oo7;()SOB. .3
EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS OF CITY
IMPROVEMENTS INCURRED IN CONNECTION WITH THE DESIGN
COSTS RELATED TO ROAD IMPROVEMENTS FOR COPPELL ROAD,
DEFOREST ROAD AND SOUTHWESTERN BLVD. PRIOR TO THE
ISSUANCE OF THE BONDS.
WHEREAS, the City ofCoppell, Texas (the "Issuer") is a municipality of the State of
Texas; and
WHEREAS, the Issuer expects to pay expenditures in connection with the purpose of
paying all or a portion of the City's contractual obligations for the purpose of paying design,
engineering and similar preliminary costs for road improvements to portions of Coppell Road,
Deforest Road and Southwestern Boulevard, and for paying legal and fiscal fees in connection
with these projects; and
WHEREAS, the Issuer finds, considers, and declares that the reimbursement of the Issuer
for the payment of such expenditures will be appropriate and cQnsistent with the lawful
objectives ofthe 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, THAT:
Section 1.
The Issuer reasonably expects to incur debt, as one or more series of
obligations, with an aggregate maximum principal amount not to exceed $800,000, for the
purpose of paying design, engineering and similar preliminary costs for road improvements to
portions of Coppell Road, Deforest Road and Southwestern Boulevard, and for paying legal and
fiscal fees in connection with these projects.
Section 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 Resolution 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.
Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued
pursuant to this Resolution more than three years after the date any expenditure which is to be
reimbursed is paid.
Section 4.
This Resolution shall become effective immediately.
PASSED, APPROVED AND EFFECTIVE this 8th ay 0
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTIES OF DALLAS AND DENTON
CITY OF COPPELL
We, the undersigned officers of said City, hereby certify as follows:
I. The City Council of said City convened in REGULAR MEETING ON THE 8TH
DAY OF MAY, 2007, at the City Hall, and the roll was called of the duly constituted officers and
members of said City Council, to-wit:
Douglas N. Stover, Mayor
Billy Faught, Mayor Pro-Tern
Tim Brancheau
Jayne P. Peters
Brianna Hinojosa-Flores
Marsha Tunnell
Marvin Franklin
Bill York
Libby Ball, City Secretary
and all of said persons were present, except the following absentees: None, thus constituting a quorum.
Whereupon, among other business, the following was transacted at said Meeting: a written
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS
OF CITY IMPROVEMENTS
was duly introduced for the consideration of said City Council and read in full. It was then duly moved
and seconded that said Resolution be passed; and, after due discussion, said motion carrying with it the
passage of said Resolution, prevailed and carried by the following vote:
AYES: All members of said City Council shown present above voted "Aye".
NOES: None.
2. That a true, full and correct copy of the aforesaid Resolution passed at the Meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; that said
Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above and
foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said Meeting
pertaining to the passage of said Resolution; that the persons named in the above and foregoing paragraph
are the duly chosen, qualified and acting officers and members of said City Council as indicated therein;
that each of the officers and members of said City Council was duly and sufficiently notified officially
and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said
Resolution would be introduced and considered for passage at said Meeting, and each of said officers and
members consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting
was open to the public and public notice of the time, place and purpose of said meeting was given, all as
required by Chapter 551, Texas Government Code.
3. That the Mayor of said City has approved and hereby approves the aforesaid Resolution;
that the Mayor and the City Secretary of said City have duly signed said Resolution; and that the Mayor
and the City Secretary of said City hereby declare that their signing of this Certificate shall constitute the
signing of the attached and following copy of said Resolution for all purposes.
SIGNED AND SEALED the 8th day of May, 20