06-11-20-3.3a - Resolution - 06/11/2020RESOLUTION NO. 0'->-1 \ -1� -�G..
RESOLUTION DECLARING INTENTION TO REIMBURSE CERTAIN EXPENDITURES WITH
PROCEEDS FROM DEBT
WHEREAS, the City of College Station, 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 available
funds;
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
Treasury Regulations, to reimburse itself for such payments at such time as it issues obligations to finance
the Project;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE
ST A TION, TEXAS 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 $2,200,000, 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 18
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
this Statement more than three years after the date any expenditure which is to be reimbursed is paid.
PASSED AND APPROVED THIS 11th DAY OF June, 2020.
ATTEST:
(Seal)
APPROVED:
Exhibit "A"
The projects to be financed that are the subject of this Statement are:
WA1900003 FM 2818 Widening Project and Utility Relocations ($2,200,000)
The City of College Station (the City) in conjunction with the Texas Department of Transportation
(TXDOT) is designing and constructing a widening of FM 2818 within the general limits of FM 2154
(Wellborn Rd) to FM 60 (University Dr/Raymond Statzer Pkwy). As part of this project, portions of the
city's water infrastructure will need to be moved because of conflicts with the road widening, drainage
infrastructure, or other infrastructure needed for the project. TXDOT usually requires the owner of the
utility in conflict to clear the utility separately, however, in this case TXDOT agreed that it is more
economical and efficient for such relocations be included in the State's highway construction contract.
These funds will be used for the advanced funding agreement (AFA) between the City and TXDOT for
the City's contribution for utility relocations related to the FM 2818 widening project.