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<br />. <br /> <br />e <br /> <br />. <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br /> <br />Appropriation <br /> <br />Requested By: S. Gillett <br /> <br />Source of Funds: N/A <br /> <br />Department: Public Works <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: XX Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Resolution <br /> <br />Amount Requested: <br /> <br />N/A <br /> <br />Exhibits: <br /> <br />Budgeted Item: <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The Little Cedar Bayou Solids Handling Project, at the City's wastewater treatment plant, is a <br />proposed bond project in the upcoming election. The federal Internal Revenue Code and State <br />Law permit the City the option of reimbursing itself for pre-bond issuance expenses if a <br />resolution declaring this intention is passed. The attached resolution meets this requirement. <br /> <br />The purpose of the attached resolution is to leave the City with the option of reimbursing itself <br />for expenses incurred prior to issuance of bonds on the above mentioned project. At the time the <br />bonds are sold, the City can decide whether to reimburse itself or not. <br /> <br />Action Required bv Council: Approve resolution declaring intention to reimburse certain <br />expenditures with borrowing proceeds. <br /> <br />Approved for City Council Ae:enda <br /> <br />cRuf~ ~ ~ <br /> <br />Robert T. Herrera, City Manager <br /> <br />~.ol <br />Date <br />