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cause to be done any and all other acts and things necessm3~ or proper for carrying out this resolution <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 of the 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 Revenne Code of 1986, as an~ended. The <br />face amonnt of all tax-exempt obligations to be issued by the City during calendar year 2003 is not <br />reasonably anticipated to exceed $10,000,000. <br /> <br /> PART 6. The City Council anticipates that the City lilay 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 pm't of the resolntion does <br />not bind the City to malce any expenditure, incur any indebtech~ess, or proceed with the purchase of <br />the Property. <br /> <br />PART 7. This Resolution shall be in full fome mxd effect from and after its passage. <br /> <br />ADOPTED on <br /> <br />February 10th, 2003. <br /> <br />Robert B. Habingreither <br />Mayor <br /> <br />Attest: <br /> <br />J~nis K. Womack <br />City Clerk <br /> <br />C:\TEMP\lease-purchase K-Wells Fargo.doc <br /> <br /> <br />