10-11-90-7.5 (b) - Resolution - 10/11/1990RESOLUTION NO. 10-11-90-7.5 (b)
A RESOLUTION EVIDENCING INTENTION TO FINANCE PROPERTY
WHEREAS, the City Council of the City of College Station, Texas
(the "City") 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 City intends to finance the
Property through the issuance of obligations of the City, the
interest on which is exempt from the gross income of the holders
for federal income tax purposes, the City intends to aggregate
certain of its financings to accomplish a more efficient and
effective long term financing package. Accordingly, the City
will use money on hand and lawfully available for the interim
financing of the Property, reserving the right, however, to issu~
tax exempt obligations in the future for permanent financing of
the Property and, if the City then determines, other property or
refinancings.
PASSED AND APPROVED this llth day of October, 1990.
ATTEST:
City Secretary
APPROVED:
May~~~~~
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