Laserfiche WebLink
<br />and the Agreement. <br /> <br />PART 4. The City's obligations under the Agreement shall be subject to annual appropriation <br />by the City Council, and shall not constitute a general obligation ofthe City or an indebtedness under <br />the laws of the State of Texas. <br /> <br />PART 5. The City hereby designates the Agreement as a "qualified tax-exempt obligation" <br />within the meaning of Section 265(b )(3) of the Internal Revenue Code of 1986, as amended. The <br />face amount of all tax-exempt obligations to be issued by the City during calendar year 2004 is not <br />reasonably anticipated to exceed $10,000,000. <br /> <br />PART 6. The City Council anticipates that the City may pay certain capital costs in <br />connection with the Property prior to the receipt of the Lease-Purchase proceeds. The City Council <br />declares the City's official intent to use the Lease-Purchase proceeds to reimburse the City for these <br />capital costs. This part of this resolution is adopted for the purpose of compliance with the <br />requirements of Section 1.150-2 of Federal Treasury Regulations. This part of the resolution does <br />not bind the City to make any expenditure, incur any indebtedness, or proceed with the purchase of <br />the Property. <br /> <br />PART 7. This Resolution shall be in full force and effect from and after its passage. <br /> <br />ADOPTED on March 22, 2004. <br /> <br />r-J-l~ <br /> <br />Robert Habingreither <br />Mayor <br /> <br />:tPa;;M-d! ~ <br />V:/lnff wom~' 'j <br /> <br />City Clerk <br />