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<br />I <br /> <br />I <br /> <br />I <br /> <br />267. <br /> <br />RESOLUTION NO. 2006-~R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS EXPRESSING OFFICIAL INTENT TO <br />REIMBURSE FOR CERTAIN COSTS RELATING TO THE RIO <br />VISTA DAM MAINTENANCE AND WHITEWATER <br />IMPROVEMENTS PROJECT; AND DECLARING AN <br />EFFECTIVE DATE <br /> <br />WHEREAS, the City Council of the City of San Marcos, Texas (the "City") expects to pay <br />expenditures in connection with the project described on Exhibit "A" attached hereto (the "Project") prior <br />to the issuance of obligations to finance the Project; and <br /> <br />WHEREAS, 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 City <br />and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of the <br />Treasury Regulations, to reimburse itself for such payments at such time as it issues obligations to finance <br />the Project; <br /> <br />THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS: <br /> <br />Section 1. The City reasonably expects to incur debt, as one or more separate series of <br />various types of obligations, with an aggregate maximum principal amount not to exceed $1,105,000 for <br />the purpose of paying the costs of the Project. <br /> <br />Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax- <br />exempt obligations will be issued by the City in furtherance of this Resolution after a date which is later <br />than 18 months after the later of (1) the date the expenditures are paid or (2) the date on which the <br />property, with respect to which such expenditures were made, is placed in service. <br /> <br />Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant <br />to this Resolution more than three years after the date any expenditure which is to be reimbursed is paid. <br /> <br />PASSED, APPROVED AND EFFECTIVE this 4th day of April, 2006. <br /> <br />s~~fl~ <br /> <br />Mayor, City of San Marcos, Texas <br /> <br />ATTEST: <br /> <br />[, I/~/ / <br />, tr~l!wrl\l 9l frllJtf1t}/ <br /> <br />J aIU's K. W omatk <br />City Clerk, City of San Marcos, Texas <br /> <br />[SEAL] <br /> <br />SANMARCOS2006 :ConvCenterCoslsRes <br />