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BCRUA_07-08-22-12 RESOLUTION NO.t)7—&?-A2—/2- RESOLUTION RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN EXPENDITURES FOR BRUSHY CREEK REGIONAL WATER PROJECT WHEREAS,Brushy Creek Regional Utility Authority,Inc.(the"Authority")expects to pay expenditures in connection with the project described on Exhibit"A" attached hereto(the"Project") prior to the issuance of obligations to finance the Project; and WHEREAS, the Authority finds, considers and declares that the reimbursement of the Authority for the payment of such expenditures will be appropriate and consistent with the lawful objectives of the Authority and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of the Treasury Regulations,to reimburse itself for such payments at such time as it issues obligations to finance the Project; THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF BRUSHY CREEK REGIONAL UTILITY AUTHORITY INC. THAT: Section 1. The Authority reasonably expects to incur debt,as one or more separate series of various types of obligations, with an aggregate maximum principal amount not to exceed $144,000,000 for the purpose of paying the costs of the Project. Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-exempt obligations will be issued by the Authority in furtherance of this Resolution after a date which is later than 18 months after the later of(1)the date the expenditures are paid or(2)the date on which the property, with respect to which such expenditures were made, is placed in service. Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant to this Resolution more than three years after the date any expenditure which is to be reimbursed is paid. PASSED AND APPROVED THIS 22nd day of Au ust,2007 . !o o ,President DCRUA2007:REIMBURS.RES EXHIBIT A Cost related to the construction of the Brushy Creek Regional Water Project including land acquisition,intake structure,water lines,water treatment plant,transmission lines and related legal, engineering, environmental and other related costs. 13CRUA2007:REIMBURS.RES CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS COUNTY OF WILLIAMSON BRUSHY CREEK REGIONAL UTILITY AUTHORITY, INC. We, the undersigned officers of the Board of Directors (the "Board") of the Brushy Creek Regional Utility Authority, Inc. (the "Authority") hereby certify as follows: 1. The Board convened in an open meeting on the 7`h day of August,2007,at the designated meeting place(the"Meeting"), and the roll was called of the duly constituted officers and members of the Board, to wit: &,V# ``__LL �t(_�C, President obbil CAOC41PVice President /D Secretary/Treasurer and all of said persons were present, except the following absentees: P ,thus constituting a quorum. Whereupon,among other business,the following was transacted at the Meeting: a written RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN EXPENDITURES FOR THE BRUSHY CREEK REGIONAL WATER PROJECT was duly introduced for the consideration of the Board. It was then duly moved and seconded that the Resolution be passed; and, after due discussion, the motion, carrying with it the passage of the Resolution, prevailed and carried by the following vote: AYES: NOES: 2. A true, full and correct copy of the aforesaid Resolution passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate;that the Resolution has been duly recorded in the Board's minutes of the Meeting; that the above and foregoing paragraph is a true,full and correct excerpt from the Board's minutes of the Meeting pertaining to the passage of the Resolution;that the persons named in the above and foregoing paragraph are the duly chosen,qualified and acting officers and members of the Board as indicated therein;that each of the officers and members of the Board was duly and sufficiently notified officially and personally, in advance, of the time,place and purpose of the aforesaid Meeting,and that the Resolution would be introduced and considered for passage at the Meeting, and each of the officers and members consented,in advance,to the holding of the Meeting for such purpose;that the Meeting was open to the public and public notice of the time,place and purpose of the Meeting was given,all as required by Chapter 551,Government Code,as amended and Section 49.064,Texas Water Code,as amended. SIGNED AND SEALED this 22nd day of August, 2007 IL /' , 4'retary, Board of Directors P sident, Board of Directors (SEAL)