Ordinance No. 9,3910
9
ORDINANCE NO. 9391
ORDINANCE EXPRESSING INTENT TO
FINANCE EXPENDITURES TO BE INCURRED
WHEREAS, the City of Baytown, Texas (the "City "), is a home -rule city of the State of
Texas, authorized to issue obligations to finance its activities pursuant to the Texas Government
Code and other laws of said state, the interest on which is excludable from gross income for federal
income tax purposes ( "tax- exempt obligations ") pursuant to Section 103 of the Internal Revenue of
1986, as amended (the "Code "); and
WHEREAS, the City will make, or has made not more than 60 days prior to the date hereof,
payments with respect to the acquisition, construction, reconstruction or renovation of the property
listed on Exhibit A attached hereto; and
WHEREAS, the City desires to reimburse itself for the costs associated with the property
listed on Exhibit A attached hereto from the proceeds of tax - exempt obligations to be issued
subsequent to the date hereof; and
WHEREAS, the City reasonably expects to issue tax- exempt obligations to reimburse itself
for the costs associated with the property listed on Exhibit A attached hereto;
NOW, THEREFORE, be it ordained that:
Section 1. The City reasonably expects to reimburse itself for all costs that have been or
will be paid subsequent to the date that is 60 days prior to the date hereof and that are to be paid in
connection with the acquisition, construction, reconstruction or renovation of the property listed on
Exhibit A attached hereto from the proceeds of tax- exempt obligations to be issued subsequent to the
date hereof.
Section 2, The City reasonably expects that the maximum principal amount of tax -
exempt obligations issued to reimburse the City for costs associated with the property listed on
Exhibit A attached hereto will not exceed $2,500,000.
Section 3. All ordinances and parts of ordinances in conflict herewith are hereby repealed
to the extent of the conflict only.
Section 4. If any word, phrase, clause, sentence, paragraph, section or other part of this
ordinance or the application thereof to any person or circumstance shall ever be held to be invalid or
unconstitutional by any court of competent jurisdiction, the remainder of this ordinance and the
application of such word, phrase, clause, sentence, paragraph, section, or other part of this ordinance
to any other person or circumstance shall not be affected thereby.
® Section 5. The City Council officially finds, determines and declares that a sufficient
written notice of the date, hour, place and subject of each meeting at which this ordinance was
discussed, considered or acted upon was given in the manner required by the Texas Open Meetings
Act, as amended, and that each such meeting has been open to the public as required by law at all
times during such discussion, consideration and action. The City Council ratifies, approves and
confirms such notices and the contents and posting thereof.
PASSED AND APPROVED this 25th day of July, 2002.
ATTEST:
j�L4�4�1
G Y W. SMITH, City Clerk
City of Baytown, Texas
(SEAL)
11
de-Z C. �
PETE C. ALPARO, Nfayor
City of Baytown, Texas
•
EXHIBIT A
DESCRIPTION OF PROPERTY
Item or Fund -- Described by Amount -- Described by
Character, Type or Purpose Cost, Quantity or Size
Big Missouri Lift Station and Force Main $1,490,000
Pinehurst I Sewer 250,000
School Courts Sewer 250,000
West District Wastewater Treatment
Plant Improvements Study 125,000
Eva Maude Sewer Rehabilitation 330,000