02-28-91-1.9 - Resolution - 02/28/1991 RESOLUTION NO. 2-28-91-1.9
A RESOLUTION EVIDENCING INTENTION TO FINANCE PROPERTY.
WHEREAS, The Brazos Valley Solid Waste Management Agency
(B.V.S.W.M.A.), on behalf of the Cities of Bryan and
College Station has determined that it is necessary to
immediately acquire, construct, repair, or improve the
property described in Exhibit 'A' attached hereto and
incorporated by reference herein (the "Property").
BE IT RESOLVED THAT: Although the B.V.S.W.M.A. intends
to finance the Property through the issuance of
obligations of the B.V.S.W.M.A., the interest on which
is exempt from the gross income of the holders for
federal income tax purposes, the B.V.S.W.M.A. intends
to aggregate certain of its financings to accomplish a
more efficient and effective long term financing package.
Accordingly, the B.V.S.W.M.A. will use money on hand
and lawfully available for the interim financing of the
Property, reserving the right, however, to issue tax
exempt obligations in the future for permanent financing
of the Property and, if the B.V.S.W.M.A. then determines,
other property or refinancings.
PASSED AND APPROVED this 28th day of February, 1991.
APPROVED:
ATTEST:
City Secretary
Mayor
EXHIBIT 'A'
Property Description
Bid #91-31
Track - type Front End Loader to be used in landfill
operations Brazos Valley Solid Waste Management Agency
(B.¥.$.W.M.A.) Manufactured by Caterpillar, Model No. 973,