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03-70 - R TOWN OF PROSPER RESOLUTION NO. 03-70 RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE COSTS OF FIRE STATION PROJECT FROM PROCEEDS OF TAX-EXEMPT OBLIGATIONS WHEREAS, the Town of Prosper, Texas (the "Issuer") is a general law town and a political subdivision of the State of Texas; and WHEREAS, the Issuer expects to pay expenditures in connection with the completing the construction of, and providing equipment for, a municipal fire station (the"Project") prior to the issuance of obligations to finance the 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 TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS 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 $400,000 for the purpose of paying the costs of the Project. Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No obligations (whether taxable or tax-exempt) 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, ith respect to which such expenditures were made, is placed in service. Section 3. The foregoing notwithstanding, no obligations(whether taxable or tax-exempt) will be issued pursuant to this Statement more than three years after the date any expenditure which is to be reimbursed is paid. CERTIFICATE REGARDING ADOPTION OF RESOLUTION THE STATE OF TEXAS COUNTY OF COLLIN TOWN OF PROSPER We, the undersigned officers of the Town of Prosper, Texas (the "Town"), hereby certify as follows: 1. The Town Council of the Town convened in SPECIAL MEETING ON THE 16TH DAY OF DECEMBER, 2003, at the Town Hall, and the roll was called of the duly constituted officers and members of the Town Council,to- wit: Charles Niswanger, Mayor Michael Perry, Mayor Pro-tern Ane Casady Lisa Dritschler Kane Dalton Russell Kaker Shanae Jennings, Town Secretary and all of said persons were present, except the following absentee: ,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 FIRE STATION PROJECTFROM PROCEEDS OF TAX-EXEMPT OBLIGATIONS was duly introduced for the consideration of the Town Council. It was then duly moved and seconded that said Resolution be adopted and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES: All members of the Town Council shown present above voted "Aye," except as shown below: NOES: ABSTAIN: 2. That a true, full and correct copy of the aforesaid Resolution adopted 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 the Town Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the Town Council's minutes of said Meeting pertaining to the adoption of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the Town Council as indicated therein; that each of the officers and members of the Town 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 adoption 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 the Town has approved and hereby approves the aforesaid Resolution; that the Mayor and the Town Secretary of the Town have duly signed said Resolution; and that the Mayor and the Town Secretary of the Town hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, COLLIN COUNTY, TEXAS, ON THIS 18TH DAY OF NOVEMBER, 2003. harles Ni anger, ATTEST TO AND CORRECTLY RECORED BY: anae Jennin , own Sec ary DATE OF PUBLICATION: c((,2)l z063 f Df G�2I0,3Dallas Morning News — Collin County Addition AFFIDAVIT OF PUBLICATION STATE OF TEXAS COUNTY OF DALLAS Before me, a Notary Public in and for Dallas County, this day personally appeared Lynda Black, Legal Advertising Representative for the DALLAS MORNING NEWS being duly sworn by oath, states the attached advertisement of: TOWN OF PROSPER as published in THE DALLAS MORNING NEWS — COLLIN COUNTY EDITION on: January 7, 2004 ( Legal Notices ) TOWN OF PROSPER RESOLUTION NO.03-70 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, EXPRIESSIINGTOFFICIAL INTENT TO REIMBURSE COSTS OF FIRE STA- PION PROJECT FROM j;('/6 Il^r,-/ - LJC✓� . PROCEEDS OF TAX EXEMPT I , (Lynda Black) Sworn to and subscribed before me this January 12, 2004, A.D ���pgAl TEN F��'� (Lisa Battenf d) • • •• RES-- III(it"