RES 96047 - Laserfiche WebLink

CITY COUNCIL OF THE CITY OF PLEASANTON ALAMEDA COUNTY, CALIFORNIA RESOLUTION NO. 96-47 RESOLUTION DECLARING THE OFHCIAL INTENT TO REIMBURSE EXPENDITURES FROM THE PROCEEDS OF TAX EXEMPT SECURITIES FOR THE ACQUISITION OF ALL PACIFIC GAS & ELECTRIC (PG&E) STREET LIGHT FACILITIES LOCATED WITHIN THE CITY OF PLEASANTON WHEREAS, the City of Pleasanton (the "City") desires to finance the acquisition of the facilities described in detail below (collectively the "Project"); and WHEREAS, the City will be expertring funds for the acquisition of the Project; and WHEREAS, the City reasonably expects to reimburse such expenditures by authorizing the sale and delivery of obligations, as described below; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: This resolution is a declaration of official intent to reimburse expenditures pursuant to Treasury Regulations Section 1.150-2. Section 2: The City desires to finance the construction and acquisition of the Project consisting of the acquisition of all PG&E street light facilities located within the City of Pleasanton. Section 3: The City reasonably expects to reimburse any such expenditures through the sale and delivery of obligations (the "Obligations"), the interest component on which is excludable from gross income under Section 103 of the Internal Revenue Code. The maximum principal mount of Obligations to be issued for the Project is $2,000,000. Section 4: The reimbursement allocation to be made with respect to the expenditures will occur not later than eighteen (18) months after the later of (i) the date on which expenditure is paid, or (ii) the date on which the Project is placed in service, but in no event more than five years after the expenditure is paid.