R563RESOLUTION NO. 563
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE WITH
TAX-EXEMPT OBLIGATION PROCEEDS COSTS ASSOCIATED WITH
CERTAIN CAPITAL IMPROVEMENTS
WHEREAS, the City Council of the CITY OF KENNEDALE, TEXAS (the "City") hereby
determines that it is necessary and desirable to fund the equipment and installation of improvements
to the City's municipal waterworks and sewer system (the "Project"):
WHEREAS, the City expects that it will pay, from available funds of the City, expenditures
in connection with the Project prior to the issuance of tax-exempt obligations (the "Obligations")
to finance the Project; and
WHEREAS, the City finds, considers, and declares that the reimbursement of the City for
the payment of such expenditures will be appropriate and consistent with the lawful objectives of
the City and, as such, chooses to declare its intention, in accordance with the provisions of Section
1.150-2 of the United States Treasury Regulations and the laws of the State of Texas, to reimburse
itself for such payments at such time as the City issues Obligations to finance the Project;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KENNEDALE, TEXAS THAT:
SECTION 1. EXPECTATION TO INCUR DEBT. The City reasonably expects to incur
debt, as one or more series of Obligations, with an aggregate maximum principal amount of
$600,000 for the purpose of paying the costs of the Project; and
SECTION 2. REIMBURSEMENT OF PRIOR EXPENDITURES. All costs to be
reimbursed pursuant hereto will be capital expenditures. No Obligations will be issued by the City
in furtherance of this Resolution after a date which is later than 18 months after the later of (1) the
date the expenditures are paid, or (2) the date on which the property, with respect to which such
expenditures were made, is placed in service.
SECTION 3. THREE-YEAR LIMITATION FOR REIMBURSEMENT. The foregoing
notwithstanding, no Obligations will be issued pursuant to this Resolution more than three years
after the date any expenditure which is to be reimbursed is paid.
SECTION 4. INCORPORATION OF RECITALS. The City hereby finds that the
statements set forth in the recitals of this Resolution are true and correct, and the City hereby
incorporates such recitals as a part of this Resolution.
SECTION 5. EFFECTIVE DATE. This Resolution shall become effective immediately
upon passage thereof.
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PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF KENNEDALE,
TEXAS THIS 3RD DAY OF DECEMBER, 2019.
Attest:
3or, City off Kennedale, Texas
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City Secretary,
City of Kennedale, Texas
(City Seal)
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Signature Page to Resolution Relating to
Reimbursement of Costs Incurred for Certain Public Improvements
CERTIFICATE FOR RESOLUTION
I, the undersigned City Secretary of the CITY OF KENNEDALE, TEXAS (the "City"), hereby certify as
follows:
1. The City Council of the City (the "City Council") convened in Regular Meeting on December 3,
2019 at the designated meeting place (the "Meeting"), and the roll was called of the duly constituted officers
and members of the City Council, to wit:
Brian Johnson, Mayor
Josh Altom, Place 1
Chris Pugh, Place 2
Sandra Lee, Place 3 (and Mayor Pro Tem)
Linda Rhodes, Place 4
Chad Wandel, Place 5
and all of said persons were present, except the following absentees: NONE
, thus constituting a quorum. Whereupon, among other business, the following
was transacted at the Meeting: a written Resolution No. 563 entitled:
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE WITH TAX-
EXEMPT OBLIGATION PROCEEDS COSTS ASSOCIATED WITH CERTAIN
CAPITAL IMPROVEMENTS
(the "Resolution") was duly introduced for the consideration of the City Council. It was then duly moved
and seconded that the Resolution be passed; and, after due discussion, said motion, carrying with it the
passage of the Resolution, prevailed and carried by the following vote:
AYES: 5 NOES: 0 ABSTENTIONS: 0
2. A true, full and correct copy of the Resolution passed at the Meeting described in the above and
foregoing paragraph is attached to and follows this Certificate; the Resolution has been duly recorded in the
City Council' minutes of the Meeting; the above and foregoing paragraph is a true, full and correct excerpt
from the City Council' minutes of the Meeting pertaining to the passage of the Resolution; the persons named
in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the
City Council as indicated therein; each of the officers and members of the City Council was duly and
sufficiently notified officially and personally, in advance, of the time, place and purpose of the Meeting, and
that the Resolution would be introduced and considered for passage at the Meeting, and each of said officers
and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was
open to the public, and public notice of the time, place and purpose of the Meeting was given, all as required
by Texas Government Code, Chapter 551.
SIGNED AND SEALED the 3r`' day of December, 2019.
(CITY SEAL)
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City Secretary
City of Kennedale, Texas