02-01-21-Resolution-Declaration of Intent Certificates of Obligatino-03/01/2021RESOLUTION #02-01-21
RESOLUTION ADOPTED BY
THE CITY OF SANGER9 TEXAS, REGARDING
DECLARATION OF OFFICIAL INTENT PURSUANT TO
SECTION 1.150-2 OF THE TREASURY REGULATIONS
WHEREAS, the City of Sanger, Texas (the "Borrower") intends to finance the capital
project described in Exhibit A hereto (the "Project"); and
WHEREAS, it is anticipated that the Borrower will borrow, on atax-exempt or tax credit
basis, funds (the "Obligations") for the purpose of financing the Project;
NOW, THEREFORE, BE IT:
RESOLVED, that the Borrower intends that expenditures paid from its own funds for the
Project will be reimbursed with proceeds of the Obligations.
RESOLVED, that the maximum principal amount of the Obligations is $20,000,000.00.
RESOLVED, that the expenditures intended to be reimbursed pursuant to this declaration
include capital expenditures for the Project and costs of issuing the Obligations.
RESOLVED, that the reimbursement of expenditures contemplated by this declaration is
consistent with the Borrower's present budgetary and financial circumstances, and no funds of the
Borrower have been reserved, allocated, or otherwise set aside with the specific intent or
expectation of payment of the expenditures intended to be reimbursed with proceeds of the
Obligations pursuant to this declaration. The Borrower is not aware of other, similar declarations
of intent of the Borrower that did not result in the reimbursement of the expenditures described
therein. Based on the foregoing and other circumstances relating to the costs of the Project, the
Borrower reasonably expects that it will reimburse expenditures paid for such Project with the
proceeds of the Obligations.
PASSED AND APPROVED this 1't day of March, 2021,
ATTEST:
Stators, Deputy City Secretary
APPROVED:
Thomas E. Muir, Mayor
APPROVED AS TO FORM:
-2-
Attorney
I
DESCRIPTION OF PROJECT
Water and sewer system expansion and improvements.
Electric utility system renovations and line relocations.
City wide street repairs and improvements.
Professional services.
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RESOLUTION #02-01-21
RESOLUTION ADOPTED BY
THE CITY OF SANGER5 TEXAS, REGARDING
DECLARATION OF OFFICIAL INTENT PURSUANT TO
SECTION 1.150-2 OF THE TREASURY REGULATIONS
WHEREAS, the City of Sanger, Texas (the "Borrower") intends to finance the capital
project described in Exhibit hereto (the "Project"); and
WHEREAS, it is anticipated that the Borrower will borrow, on atax-exempt or tax credit
basis, funds (the "Obligations") for the purpose of financing the Project;
NOW, THEREFORE, BE IT:
RESOLVED, that the Borrower intends that expenditures paid from its own funds for the
Project will be reimbursed with proceeds of the Obligations.
RESOLVED, that the maximum principal amount of the Obligations is $20,000,000.00.
RESOLVED, that the expenditures intended to be reimbursed pursuant to.this declaration
include capital expenditures for the Project and costs of issuing the Obligations.
RESOLVED, that the reimbursement of expenditures contemplated by this declaration is
consistent with the Borrower's present budgetary and fmancial circumstances, and no funds of the
Borrower have been reserved, allocated, or otherwise set aside with the specific intent or
expectation of payment of the expenditures intended to be reimbursed with proceeds of the
Obligations pursuant to this declaration. The Borrower is not aware of other; similar declarations
of intent of the Borrower that did not result in the reimbursement of the expenditures described
therein. Based on the foregoing and other circumstances relating to the costs of the Project, the
Borrower reasonably expects that it will reimburse expenditures paid for such Project with the
proceeds of the Obligations.
PASSED AND APPROVED this P day of March, 20214
ATTEST:
Staton, Deputy City Secretary
APPROVED:
Thomas E. Muir, Mayor
APPROVED AS TO FORM:
-2-
attorney
EXHIBIT A
DESCRIPTION OF PROJECT
Water and sewer system expansion and improvements.
Electric utility system renovations and line relocations.
City wide street repairs and improvements.
Professional services.
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