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RESOLUTION 2013 -32R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, EXPRESSING THE CITY'S OFFICIAL INTENT TO <br />REIMBURSE THE COSTS OF ACQUIRING AN OWNERSHIP INTEREST IN THE <br />THOMAS C. FERGUSON REPLACEMENT POWER PLANT WITH THE <br />PROCEEDS OF FUTURE DEBT INSTRUMENTS IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED $18,000,000 AND DECLARING AN <br />EFFECTIVE DATE <br />WHEREAS, the City of San Marcos, Texas (the "City ") is a home -rule municipality within the <br />State of Texas; and <br />WHEREAS, the City expects to pay expenditures in connection with the acquisition of an <br />undivided 3.2% ownership interest in the LCRA's 550 MW Thomas C. Ferguson Power Plant (the <br />Project) prior to the issuance of obligations to finance the Project; and <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 <br />finance the Project; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE SAN MARCOS CITY COUNCIL: <br />Section 1. The City hereby certifies that it reasonably expects to incur debt, as one or more <br />series of obligations, with an aggregate maximum principal amount equal to $18,000,000 for the purpose <br />of paying the costs of the Project. <br />Section 2. The City hereby certifies that all costs to be reimbursed pursuant hereto will be <br />capital expenditures.. No tax - exempt obligations will be issued by the City in furtherance of this <br />Statement after a date which is later than 18 months after the later of (1) the date the expenditures are <br />paid or (2) the date on which the property, with respect to which such expenditures were made, is placed <br />in service. <br />Section 3. This resolution shall be in full force and effect immediately from and after its <br />adoption. <br />Adopted on February 19, 2013. <br />f <br />C_D iel Guerrero <br />Mayor <br />Attest: <br />ami ee Pettijo <br />'ty CI rk <br />