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1. The City of San Marcos, Texas (the "City ") is a home -rule municipality within the <br />State of Texas. <br />2. The City expects to pay expenditures in connection with the design, planning, <br />acquisition and construction of the projects described on Exhibit "A" hereto (the "Projects ") prior <br />to the issuance of obligations to finance the Projects. <br />3. The City finds, considers, and declares that the reimbursement of the City for the <br />payment of such expenditures will be appropriate and consistent with the lawful objectives of the <br />City and, as such, chooses to declare its intention, in accordance with the provisions of Section <br />1.150 -2 of the Treasury Regulations, to reimburse itself for such payments at such time as it <br />issues obligations to finance the Projects. <br />BE IT RESOLVED O <br />PART 1.The City reasonably expects to incur debt, as one or more series of obligations, <br />with an aggregate maximum principal amount equal to $469,068 for the purpose of paying the <br />costs of the Projects. <br />PART 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No <br />tax - exempt obligations will be issued by the City in furtherance of this Resolution after a date <br />which is later than 18 months after the later of (1) the date the expenditures are paid or (2) the <br />date on which the property, with respect to which such expenditures were made, is placed in <br />service. <br />PART 3. This Resolution will be in full force and effect immediately from and after its <br />