CC Resolution No. 1636 17
RESOLUTION NO. 1636
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, EXPRESSING INTENT TO FINANCE EXPENDITURES TO BE
INCURRED; CONTANING A REPEALING CLAUSE; CONTAINING A
SAVINGS CLAUSE AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
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 o f 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 Code 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," which is attached hereto and incorporated herein for all intents
and purposes; 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;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
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 TWO MILLION ONE HUNDRED FIFTY-TWO
THOUSAND AND NO/100 DOLLARS ($2,152,000.00).
Section 3: All resolutions and parts of resolutions 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repealed to the extent of the conflict only.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 resolution 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
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resolution and the application of such word, phrase, clause, sentence, paragraph, section, or other
part of this resolution to any other person or circumstance shall not be affected thereby.
Section 5: This resolution shall take effect immediately from and after its passage by
the City Council of the City of Baytown.
INTRODUCED, READ and PASSED, by the affirmative vote of the City Council of the
City of Baytown this the 1 lth day of March, 2004.
PETE C. ALFARO, Mayor
ATTEST:
G +ctZY~�r'VTSMITH, City Clerk
APPROVED AS TO FORM:
e�kAWCIO RAMIREZ, SR., `i y Attorney
FAKaren\Files\City Council\Resolutions\ReimbursementResolution4Utilities.DOC
EXHIBIT "A"
Item or Fund--Described by Amount--Described by
Character Type or Purpose Cost Quantity or Size
Craigmont Sanitary Sewer Rehab Phase H $1,400,000
Loop Water Lines 252,000
Texas Avenue Lift Station 500,000
Total $2,152,000