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67. I RESOLUTION NO. 17 5R RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE FOR CERTAIN COSTS WHEREAS, the City Council of the City of San Marcos, Texas (the "CIty") expects to pay expenditures in connection with the project described on ExhibIt "A" attached hereto (the "Project") pnor to the issuance of obligations to finance the Project; and WHEREAS, the City finds, considers and declares that the reimbursement of the City for the payment of such expenditures will be appropriate and consistent with the lawful objectives of the City and, as such, chooses to declare its mtenhon, in accordance with the provisions of Section 1 150-2 ofthe Treasury Regulations, to reImburse itselffor such payments at such time as it issues obligations to finance the ProJect; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS. SectIOn 1 The City reasonably expects to incur debt, as one or more separate series of vanous types of obligations, with an aggregate maximum principal amount not to exceed $9,300,000 for the purpose ofpaymg the costs ofthe Project. I Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax- exempt obligations will be issued by the City in furtherance of this Resolution 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 m serVIce. SectIOn 3 The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant to this Resolution more than three years after the date any expenditure which is to be reimbursed is paId. PASSED, APPROVED AND EFFECTIVE this 15th day of November, 2005 ATTEST ~ ,'I ^ '-~/ [SEAL] I \\Rickfs\M.y Files\SBnMBrcos\SWTP Expansion 05-06\Reimbursemenl Resolll-l5-0S. wpd