11-20-91-2.11 - Resolution - 11/20/1991RESOLUTION NO.
11-20-91-2.11
A RESOLUTION EVIDENCING INTENTION TO FINANCE PROPERTY.
WHEREAS, The City of 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 City of College Station
intends to finance the Property through the issuance of
obligations of the City of College Station, the interest
on which is exempt from the gross income of the holders
for federal income tax purposes, the City of College
Station intends to aggregate certain of its financings to
accomplish a more efficient and effective long term
financing package. Accordingly, the City of College
Station 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 City of College Station then determines, other
property or refinancings.
PASSED AND APPROVED THIS 20th day of November, 1991
APPROVED:
ATTEST:
Secretary
EXHIBIT 'A'
Property Description
Bid %92-02
Fully automated side-loader Refuse Collection Body and Mechanism
mounted on 1992 Diesel-powered cab/chassis to be used in
residential and commercial collection (sanitation) operations.
Property includes seven (7) 1992 Volvo/GM FE42 Cab/Chassis with
Rapid Rail body.