HomeMy WebLinkAbout026407 RES - 08/23/2005
RESOLUTION EXPRESSING
OFFICIAL INTENT TO REIMBURSE
rOSIS OF3Hj: CITYWIDE AUTOMATED METER READING AND WI-FI PROJECTS
WHEREAS, the City of Corpus Christi, Texas (the "City") is a home-rule municipality and
politICal subdivision of the State of Texas:
WHEREAS, the City expects to pay expenditures in connection with the design, planning,
acquisition and construction of the projects described on Exhibit "A" hereto (collectively, the "Project")
prior to the issuance of obligations by the City in connection with the financing of the Project from
a\ailable funds, particularly funds of the City's Utility System;
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 I. I 50-2 of the
.1 reasury Regulations. to reimburse itself for such payments at such time as it issues obligations to finance
the Project;
NOW, THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI THAT:
Section 1. The City reasonably expects it will incur debt, as one or more series of obligations,
with an aggregate maximum principal amount not to exceed $9.\ 00,000, for the purpose of paying the
aggregate costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-
exempt obligations will be issued by the City in furtherance of this Statement after a date which is later
than] 8 months after the later of (I) 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. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant to
th IS Statement more than three years after the date any expenditure which is to be reimbursed is paid.
Dated: August 23. 2005.
Ar an do Chapa
C,tv Secretary
APPROVED: ~ . ( ~ . 2005.
By _ 'I- ~ ~~~_
Lisa Aguilar j
Assistant City Attorney
for Citv Attorney
02'1407
Exhibit "A"
! he projects consist of:
the design, planning, acquisition, construction and all necessary components and services needed
for the implementation of the citywide Automated Meter Reading (AMR) project, including
mfrastructure rehabilitation. and
the design. installation. testing, hardware. and services for the citywide wireless broadband
(WiFi) mesh network
Corpus Christi. Texas
. /-
') I /~:. . f.
_ _:/\.0. Day of _~~J i-
,2005
The above resolution was passed by the following vote
Henry Garrett
Brent Chesney
Melody Cooper
Jerry Garcia
Bill Kelly
Rex Kinnison
John E. Marez
Jesse Noyola
Mark Scott
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