10-074 - R RESOLUTION NO. 10-074 EXPRESSING
OFFICIAL INTENT TO REIMBURSE
COSTS OF ACQUISITION OF AMBULANCES
WHEREAS, the Town of Prosper, Texas (the "Issuer") is a duly created home-rule
municipality and governmental body of the State of Texas;
WHEREAS, the Issuer expects to pay, or have paid on its behalf, expenditures in
connection with acquisition of equipped ambulances for the Issuer (the "Project") prior to the
issuance of tax-exempt obligations, tax-credit obligations and/or obligations for which a prior
expression of intent to finance or refinance is required by Federal or state law (collectively and
individually, the "Obligations")to finance the Project;
WHEREAS, the Issuer finds, considers, and declares that the reimbursement 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 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 ISSUER
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 $380,000 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 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 Obligation will be issued pursuant to
this Statement more than three years after the date any expenditure which is to be reimbursed is
paid.
Section 4. The foregoing Sections 2 and 3 notwithstanding, all costs to be reimbursed
with qualified tax credit obligations shall not be paid prior to the date hereof and no tax credit
obligations shall be issued after 18 months of the date the original expenditure is made.
Section 5. To evidence the adoption of this Resolution on the date shown below by the
Town Council of the Issuer, the signatures of the Town Secretary and Mayor are set forth below.
Date: Septnifier 14, 2010 -°
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M1 'HEW D. DENTON, MRMM C% RAV�,YI
Tr Secretary m M^G Mayor