BAWA Resolution No. 2011-16 RESOLUTION NO. 2011-16
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN AREA
WATER AUTHORITY EXPRESSING INTENT TO FINANCE EXPENDITURES
TO BE INCURRED;CONTAINING A REPEALING CLAUSE;CONTAINING A
SAVINGS CLAUSE; AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
WHEREAS,the Baytown Area Water Authority("BAWA")is a political subdivision of the
State of Texas authorized to finance its activities by issuing obligations; and
WHEREAS,BAWA 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 project(s)
listed on Exhibit A attached hereto (the "Financed Property"); and
WHEREAS, BAWA has concluded that it does not currently desire to issue obligations to
finance the costs associated with the Financed Property; and
WHEREAS, BAWA desires to reimburse itself for the costs associated with the Financed
Property from the proceeds of obligations to be issued subsequent to the date hereof; and
WHEREAS,BAWA reasonably expects to issue obligations to reimburse itself for the costs
associated with the Financed Property; NOW THEREFORE,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA
WATER AUTHORITY:
Section 1: The Baytown Area Water Authority reasonably expects to reimburse itself for
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 Financed Property from the proceeds of obligations to be issued subsequent to the date hereof.
Section 2: The Baytown Area Water Authority reasonably expects that the maximum
principal amount of obligations issued to reimburse the Baytown Area Water Authority for the costs
associated with the Financed Property will be THREE MILLION THREE HUNDRED FIFTEEN
THOUSAND AND NO/100 DOLLARS ($3,315,000.00)
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repealed to the extent of the conflict only.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 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
Board of Directors of the Baytown Area Water Authority.
INTRODUCED,READ and PASSED by the aftinnative vote of the Board of Directors of the
Baytown Area Water Authority this the23rd day of November, 2011.
i r J
3RkiNDA BRADLEY S TTH, President
A TEE ,
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1 kH A Sistant Seeretary
APPRO V
;, CIO RAMIREZ, SR., G re al Counsel
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EXHIBIT A
DESCRIPTION OF PROJECT
Purpose/Proiect Amount
Baytown Area Water Authority Water
Power Distribution Improvement Project $3,315,000.00
Exhibit"A."Page Solo