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CC Resolution No. 2109 RESOLUTION NO. 2109 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, 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 City of Baytown,Texas(the"City")is a political subdivision of the State of Texas authorized to finance its activities by issuing obligations; 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 projects listed on Exhibit A attached hereto (the "Financed Property"); and WHEREAS, the City has concluded that it does not currently desire to issue obligations to finance the costs associated with the Financed Property; and WHEREAS, the City 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,the City reasonably expects to issue obligations to reimburse itself for the costs associated with the Financed Property;NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,TEXAS: Section 1: The City 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 City reasonably expects that the maximum principal amount of obligations issued to reimburse the City for the costs associated with the Financed Property will be TWENTY-NINE MILLION SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($29,750,000.00). Section 3: All resolutions and parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict only.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 City Council of the City of Baytown. INTRODUCED,READ and PASSED by the affirmative vote of the Ci Council of the City of Baytown this the 23rd day of November, 2010. ale, 110 A; STEP7NW.PbNCARLOS,Mayor �o ATT TICIA tq APPROVED AS TO FORM: A0ACID RAMIREZ, SR. C ty Attorney \\Cobsrvl\legal\Karen\Files\City Council\Resolutions\2010\November 23\ReimbursementResolution-doc 2 EXHIBIT A DESCRIPTION OF PROJECT Purpose/Proj ect Amount Miscellaneous Rehab & Emergencies-Sewer $1,000,000 Central District Wastewater Plant Lift Station 7,000,000 Steinman Lift Station& Force Main 6,500,000 Raccoon Lift Station 3,700,000 West Main Lift Station 1,500,000 Cedar Bayou Lift Station Investigative Study/Const 2,000,000 Pinehurst Sanitary& Storm Sewer Rehabilitation 4,200,000 Water System Rehabilitation 1,000,000 Water Tower at Sports Complex 2,200,000 Baker Road and Bayway Water Tower Rehabs 650,000 TOTAL $29,750,000 Exhibit"A."Page Solo