Res 008-2001 2/6/2001RESOLUTION NO.
RESOLUTION AUTHORIZING THE EXECUTION OF CERTIFICATES
EXPRESSING OFFICIAL INTENT TO USE BOND PROCEEDS TO
REIMBURSE COSTS OF PROJECTS; FINDING AND DETERMINING
THAT THE MEETING AT WHICH THIS RESOLUTION WAS PASSED
WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City of Wichita Falls, Texas (the "City ") is a home rule
municipality and a political subdivision of the State of Texas (the "State ") existing under
the Constitution and laws of the State and the duly adopted Home Rule Charter of the
City and is authorized to issue obligations pursuant thereto; and
WHEREAS, the City expects to pay capital expenditures in connection with the
design, planning, acquisition and construction of various projects (the "Projects ") prior
to the issuance of obligations to finance such Projects; and
WHEREAS, the City finds, considers, and declares that the reimbursement of the
City for the payment of such capital expenditures will be appropriate and consistent with
the lawful objectives of the City and, as such, chooses to authorize the City Manager of
the City 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 Projects;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, TEXAS THAT:
Section 1. The City Manager of the City is hereby authorized and directed to
execute certificates of reimbursement with respect to expenditures for Projects which
the City reasonably expects to be financed with the proceeds of a future bond issue.
Each such certificate shall be in substantially the form attached hereto with such
changes as are approved by Bond Counsel.
Section 2. The City intends that each reimbursement certificate will satisfy the
official declaration of the intention of the City, in accordance with the provisions of
Section 1.150 -2 of the Treasury Regulations, to reimburse expenditures for the Projects
at such time or times as the bonds are issued.
Section 3. All costs to be reimbursed pursuant hereto will be capital
expenditures. None of the expenditures to be reimbursed pursuant to reimbursement
certificates executed pursuant to this Resolution will have been allocated to
expenditures entered on the books and records of the City earlier than the date on
which such expenditures are paid. Moreover, no debt obligations will be issued by the
City in furtherance of reimbursement certificates executed pursuant to 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, except as may be otherwise allowed by law.
Section 4. This Resolution and each reimbursement certificate shall be
maintained as a public record available for inspection by all persons in accordance with
the provisions of Chapter 552 of the Government Code, and that no later than thirty (30)
days after the date of execution of each reimbursement certificate, the reimbursement
certificate will be made available for inspection by all members of the general public at
the offices of the City.
PASSED AND APPROVED this the 6th day of February 2001.
ATTEST:
City Clerk
" 'Z14' 2,1—
MAYOR
REIMBURSEMENT CERTIFICATE
EXPRESSING
OFFICIAL INTENT TO REIMBURSE
COSTS OF THE PROJECT
WHEREAS, the City of Wichita Falls, Texas (the "City ") is a home rule
municipality and a political subdivision of the State of Texas (the "State ") existing under
the Constitution and laws of the State and the duly adopted Home Rule Charter of the
City and is authorized to issue obligations pursuant thereto; and
WHEREAS, the City expects to pay expenditures in connection with the design,
planning, acquisition and construction of the project described on Exhibit "A" hereto (the
"Project ") prior to the issuance of obligations to finance the Project;
WHEREAS, the City finds, considers, and declares that the reimbursement of the
City for the payment of such expenditures will be appropriate and consistent with the
lawful objectives of the City 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, ON BEHALF OF THE CITY, I HEREBY CERTIFY THAT:
Section 1.The City reasonably expects to incur debt, as one or more series of
obligations, with an aggregate maximum principal amount equal to $ for
the purpose of paying the costs 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 City in furtherance of this
Reimbursement Certificate 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 Reimbursement Certificate more than three years after the date any
expenditure which is to be reimbursed is paid.] [The foregoing notwithstanding, no tax -
exempt obligation will be issued pursuant to this reimbursement Certificate more than
five years after the date any expenditure which is to be reimbursed is paid. Attached
hereto as Exhibit "B" is an affidavit of an independent architect or engineer stating that
five years is necessary to complete construction of the Project.]
Date:
City Manager, City of Wichita Falls
Exhibit "A"
[Project Description]
Exhibit "B" [OPTIONAL]
AFFIDAVIT of
Concerning the Construction Period
State of Texas )
City of
County of )
Before me, , a notary public in and for the State
of Texas, on this day personally appeared , who being
by me here and now duly sworn, upon oath says:
1. My name is I graduated from the
in with a
bachelors degree in . I have
been employed by since and am
not now, nor in the past year been, employed by the City [or the Borrower] or a related
person.
2. A detailed description of the facili-
ties is given in Exhibit "A" of the Statement to which this Affidavit is attached (the
"Project ").
3. Because of my experience with the facilities being financed or refinanced
and familiarity with the design and construction of similar facilities, I am able to make a
reasonable estimate of the period of time necessary to complete construction of the
Project. I base my estimate on the design criteria of the individual facilities, the
materials used, the construction procedures, and my experience with similar facilities,
like materials and procedures, taking into account present conditions and probable
future developments. On the basis of the foregoing, I estimate the period of time
necessary to complete construction of the Project to be not less than
( ) years.
. , Subscribed and sworn to before me, by the said
this day of , 20_, to certify which, witness my hand and seal
of office.
(Notary Seal)
Notary Public in and for the State of Texas