HomeMy WebLinkAbout09-28-89-1.16 - Resolution - 09/28/1989RESOLUTION NO. 09-28-89-1.16
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 issue 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 28th day of September, 1989.
APPROVED:
ATTEST:
00746