RE 2010-0427.1
RESOLUTION NO.___2010-0427.1__
EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS OF
CITY IMPROVEMENTS INCURRED IN CONNECTION WITH
THE RECONSTRUCTION OF BETHEL ROAD II, SIMILAR
PRELIMINARY COSTS FOR ROAD IMPROVEMENTS AND
FOR PAYING LEGAL AND FISCAL FEES IN CONNECTION
WITH THIS PROJECT PRIOR TO THE ISSUANCE OF THE
BONDS.
WHEREAS, the City of Coppell, 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 reconstruction, similar preliminary
costs for road improvements to Bethel Road II, and for paying legal and fiscal fees in connection with this
project; and
WHEREAS, 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, 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 $8,360,000, for the purpose of paying
reconstruction costs and similar preliminary costs for road improvements to portions of Bethel Road II,
and for paying legal and fiscal fees in connection with this project.
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 27 day of April, 2010.
- ( 9 -
Mayo
ATTEST:
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ff
City Secretary
APPROVE AS TO LEGALITY:
City Attorney
CTI'Y SEAL
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:
1. The City Council of said City convened in REGULAR MEETING ON THE 27TH
DAY OF APRIL 2010, at the City Hall, and the roll was called of the duly constituted officers and
members of said City Council, to -wit:
Jayne Peters, Mayor
Karen Hunt, Mayor Pro -Tem
Tim Brancheau
Billy Faught
Marsha Tunnell
Marvin Franklin
Robert Mahalik
Libby Ball, City Secretary
and all of said persons were present, except the following absentees: Stiy %A, "%t%ZQsa- F1or
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: 4
NOES: 0
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 27th day of April, 2010.
City Secretary // v Mayor