R-2313-8-04' RESOLUTION NO. 2313-8-04(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, DECLARING EXPECTATION TO REIMBURSE
EXPENDITURES WITH PROCEEDS OF FUTURE DEBT.
WHEREAS, the City of Allen, Texas (the "City") plans to issue rax exempt obligations to finance the
costs of purchasing land, materials, equipment and buildings for municipal golf course facilities and
making improvements thereto (hereinafter referred to as the "Project"); and,
WHEREAS, prior to the issuance of such obligations, the City will make expenditures for the Project
from existing funds on hand, and it is the intent of the City to reimburse such funds with the proceeds of
sale of such obligations; and,
WHEREAS, under Treas. Reg.' 1.150-2 (the "Regulation"), an official intent to reimburse expenditure
with the proceeds of rax exempt obligations must be made within 60 days of the date of the original
expenditure; and,
WHEREAS, the City desires to preserve its ability to reimburse the expenditures with proceeds of tax-
exempt obligations.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS, THAT the City reasonably expects to reimburse capital expenditures with respect to the Project
' paid with funds on hand from the proceeds of sale of tax exempt obligations hereafter to be issued, and
this resolution shall constitute a declaration of official intent under the Regulation. The maximum
principal amount of tax exempt obligations expected to be issued for the Project is $4,735,000.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, ON THIS THE le DAY OF AUGUST 2004.
APPROVED:
Stephen well, MAYOR
ATTEST:
0 Q Q e �� Pt`��
S elley B. Geo C, CI SECRETARY