03-28-91-4.5 - Resolution - 03/28/1991RESOLUTION NO. 3-28-91-4.5
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 the reference here in (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 March, 1991
APPROVED:
ATTEST:
City secretary
EXHIBIT 'A'
Property Description
Bid #91-32
Tandem Drive Diesel Powered Articulated Frame Motor Grader
to be used in landfill operations, Brazos Valley Solid Waste
Management Agency (B.V.S.W.M.A.) Manufactured by John Deere,
Model No. 670B