09-057 - R RESOLUTION 09-057-EXPRESSING
OFFICIAL INTENT TO REIMBURSE
COSTS OF TOWN RADIO DISPATCH CENTER PROJECT
FROM PROCEEDS OF TAX-EXEMPT OBLIGATIONS
WHEREAS, the Town of Prosper, Texas (the "Issuer") is a home rule municipality and a political
subdivision of the State of Texas; and
WHEREAS, the Issuer anticipates the issuance of tax-exempt obligations (the "Obligations"), for the
purpose of the acquisition, construction and implementation of a radio dispatch center for the Issuer, including
radio relay equipment and other improvements associated with a radio communication network for municipal
purposes(collectively,the "Project"); and
WHEREAS, the Issuer expects to pay expenditures for the Project approved to be funded through the
issuance of the Obligations prior to the issuance of the Obligations; 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 BOARD OF TRUSTEES 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$1,900,000 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,
with 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.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS on this 28th day of April,2009.
APPROVED AS TO F •
Charles Niswanger, or
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Iratthew D. Denton,TRMC •
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