RES 2026-24 Reimbursement resolution RESOLTUION NO. 2026-24
• RESOLUTION EXPRESSING INTENT TO
REIMBURSE CERTAIN EXPENDITURES
WHEREAS, the Town of Trophy Club, Texas (the "Town") is a political subdivision of
the State of Texas authorized to finance its activities by issuing obligations; and
WHEREAS, the Issuer will make, or has made not more than 60 days prior to the date
hereof, payments with respect to the design, engineering, acquisition, construction,
reconstruction or renovation of the projects listed on Exhibit A attached hereto (the "Financed
Project"); and
WHEREAS,the Town has concluded that it does not currently desire to issue obligations
to finance the costs associated with the Financed Project; and
WHEREAS, the Town desires to reimburse itself for the costs associated with the
Financed Project from the proceeds of obligations to be issued subsequent to the date hereof; and
WHEREAS, the Town reasonably expects to issue obligations to reimburse itself for the
costs associated with the Financed Project;
WHEREAS, in certain circumstances, federal and/or state law requires that the Issuer
express its official intent to issue obligations to reimburse itself for expenditures paid prior to the
issuance of such obligations in order for such expenditures to be eligible for reimbursement from
proceeds of such obligations; and
WHEREAS, Section 1.150-2(d)(2) of the Treasury Regulations sets forth limitations
regarding the timing of reimbursements made from the proceeds of certain obligations.
WHEREAS, all constitutional and statutory prerequisites for the approval of this
resolution have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the Town Council deems the adoption of this resolution to be in the best
interest of the health, safety, and welfare of the public
NOW,THEREFORE,be it resolved that:
Section 1. The Issuer reasonably expects to reimburse itself for costs that have been
or will be paid subsequent to the date that is 60 days prior to the date hereof and that are to be
paid in connection with the Financed Project from the proceeds of obligations to be issued
subsequent to the date hereof.
Section 2. The Issuer reasonably expects that the maximum principal amount of
obligations issued to reimburse the Issuer for the costs associated with the Financed Project will
be $5,585,000. Such obligations may be issued in one or more series.
Section 3. Unless otherwise advised by bond counsel, any reimbursement allocation
will be made not later than 18 months after the later of(1) the date the original expenditure is
paid or (2) the date on which the Financed Project to which the expenditure relates is placed in
service or abandoned, but in no event more than three years after the original expenditure is paid.
(Signature page follows)
INTRODUCED, READ AND PASSED by the affirmative vote of the Town Council of
the Town of Trophy Club, Texas this 9th day of November, 2026.
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ame: Je.j'�� e T' any
P` itle: / , T 1 of Trophy Club
ATTEST: qR �
By:
Name: Tammy D' n
Title: Town Secretary, Town of Trophy Club
Signature Page to Reimbursement Resolution
EXHIBIT A
DESCRIPTION OF FINANCED PROJECT
•
Project Reimbursement Amount
Designing, engineering, developing, $5,585,000
constructing, improving and repairing,
extending and expanding streets, street
facilities, thoroughfares and bridges, including
• streetscaping, related water and storm drainage
improvements, signalization and other traffic
controls, sidewalks, street lights, and the
acquisition of any right of way therefor.
A-1