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<br />07/09/2002 15:16 FAX <br /> <br />I4J 002 <br /> <br />cause to be done any and all other acts and things necessary or proper for carrying out this resolution <br />and the Agreement. <br /> <br />PART 4. The Ci-rys obligations lID.der the Agreement shall be subject to annual appropriation <br />by the City Council, and shall not constitute a general obligation of the City or an indebtedness lnlder <br />the laws of the State of Texas. <br /> <br />PART 5. The City hereby designates the Agreement as a "qualified tax-exempt obligationjl <br />within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986. as amended. The <br />face amount of all ta:x:-exempt obligations to be issued by the City during calendar year 2002 is not <br />,reasonably anticipated to exceed $10,000,000. <br /> <br />PART 6. The City COlnlcil 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 pUIpose of compliance with the <br />requirements of Section 1.150-2 ofFeder-al 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 June 10, 2002. <br /> <br />vJJ 11. ~ <br /> <br />Robert B. Habingreither <br />Mayor <br /> <br />t;~aY~ <br /> <br />Jams K. Womack <br />City Clerk <br />