HomeMy WebLinkAboutRES 20-155RESOLUTION NO. 20-155
RESOLUTION DECLARING AN INTENT TO REIMBURSE THE CITY OF
BEAUMONT FOR CERTAIN FUNDS EXPENDED IN CONNECTION
WITH THE CITY'S FUNDING OF WATER AND SEWER
INFRASTRUCTURE IMPROVEMENTS FROM PROCEEDS OF
WATERWORKS AND SEWER SYSTEM REVENUE BONDS TO BE
ISSUED BY THE CITY WITHIN ONE YEAR.
WHEREAS, the City as permitted by Section 1.150-2 of the Treasury Regulations,
desires reimbursement from proceeds from the issuance of certain certificates of
obligation and any other expenses in connection with the City making Water and Sewer
infrastructure improvements (the "Improvements") within the City limits, not to exceed
$10,000,000;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
Section 1. The City Council hereby finds and adopts the recitals set forth above.
Section 2. The City hereby declares its intention to issue its Waterworks and Sewer
System Revenue bonds to reimburse itself, plus any additional expenses in connection
with the Improvements, not to exceed $10,000,000 for the expenditures described in the
recitals hereof.
Section 3. If any Section, paragraph, clause or provision of this Resolution shall for any
reason be held to be invalid or unenforceable, the invalidity or enforceability of such
section, paragraph, clause, or provision shall not affect any of the remaining provisions
of this Resolution.
Section 4. It is hereby found, determined and declared that a sufficient written notice of
the date, hour, place and subject of the meeting of the City Council 'at which this
Resolution was adopted was posted at a place convenient and readily accessible at all
times to the general public at the City for the time required by law preceding this meeting,
as required by the Open Meetings Act, Chapter 551, Texas Government Code, as
amended, and that this meeting has been open to the public as required by law at all
times during which this Resolution and the subject matter thereof has been discussed,
considered and formally acted upon. The City Council further ratifies, approves and
confirms such written notice and the contents and posting thereof.
Section 5. All prior orders, resolutions, and ordinances, or parts thereof, inconsistent
herewith are hereby repealed to the extent of such inconsistency.
The meeting at which this resolution was approved was in all things conducted in
strict compliance with the Texas Open Meetings Act, Texas Government Code, Chapter
551.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 28th day of
July, 2020.
- M or Becky A s -
rAA
City Clerk