HomeMy WebLinkAbout5-25-2006-13.19 - Resolution - 05/25/2006
RESOLUTION NO. 5-25-2006-13 .19
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF COLLEGE
STATION, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2006; AND PROVIDING
AN EFFECTIVE DATE
WHEREAS, the City of College Station (the "City") expects to pay expenditures in
connection with the design, planning, acquisition and construction of the projects described in
"Exhibit A" to this Resolution prior to the issuance of the Certificates of Obligation hereinafter
described; and
WHEREAS, the City Council hereby finds, considers and declares that the reimbursement of
the payment by the City of such expenditures will be appropriate and consistent with the lawful
objectives of the City and, as such, chooses to declare its intention, in accordance with the provisions
of Section 1.150-2 of the U.S. Treasury Regulations, to reimburse itselffor such payments at such
time as it issues the hereinafter described Certificates of Obligation; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was considered was open to the public, and public notice of the time, place and purpose
of said meeting was given, all as required by Chapter 551, Texas Government Code.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS
Section 1. That attached hereto and marked "Exhibit A" is a form of notice, the form and
substance of which are hereby passed and approved.
Section 2. That the City Secretary shall cause said notice to be published, in substantially the
form attached hereto, in the Bryan-College Station Eagle, a newspaper of general circulation in the
City of College Station, Texas, for two consecutive weeks, the date of the first publication to be
before the fourteenth day before the day tentatively proposed for authorizing the issuance of the
Certificates of Obligation as shown in said notice.
Section 3. That the facilities and improvements to be financed with proceeds from the
proposed Certificates of Obligation are to be used for the purposes described in the attached Notice
of Intention.
Section 4. That all costs to be reimbursed pursuant to this Resolution will be capital
expenditures; the proposed Certificates of Obligation shall be issued within 18 months of the later of
(i) the date the expenditures are paid or (ii) the date on which the property, with respect to which
such expenditures were made, is placed in service; and the foregoing notwithstanding, the Certificates
of Obligation will not be issued pursuant to this Resolution on a date that is more than three years
after the date any expenditure which is to be reimbursed is paid.
Section 5. That this Resolution shall be effective immediately upon passage and adoption.
CERTIFICA TE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF BRAZOS
CITY OF COLLEGE STATION
We, the undersigned officers of said City, hereby certifY as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 25TH DAY
OF MAY, 2006, at the designated meeting place, and the roll was called of the duly constituted
officers and members of said City Council, to wit:
Ron Silvia,
John Happ,
Ben White,
Ron Gay,
Chris Scotti,
Dave Ruesink,
Lynn McIlhaney,
Mayor
Mayor Pro- T em
Councilmembers,
Connie L Hooks,
City Secretary
and all of said persons were present, except , thus constituting a quorum Whereupon,
among other business, the following was transacted at said Meeting: a written
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS, DIRECTING PUBLICATION
OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF
OBLIGATION, SERIES 2006; AND PROVIDING AN
EFFECTIVE DATE
was duly introduced for the consideration of said City Council and read in full It was then duly
moved and seconded that said Resolution be approved; and, after due discussion, said motion
prevailed and carried by the following vote:
AYES
..fL
NOES
-..lL
ABSTAINED:
1 Lynn McIlhaney Abstained
2. That a true, full and correct copy of the aforesaid Resolution described in the above and
foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly
recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is
a true, full and correct excerpt from said City Council's minutes of said Meeting pertaining to the
passage of said Resolution; that the persons named in the above and foregoing paragraph are the duly
chosen, qualified and acting officers and members of said City Council as indicated therein; that each
of the officers and members of said City Council was duly and sufficiently notified officially and
personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said
Resolution would be introduced and considered at said Meeting, and each of said officers and
members consented, in advance, to the holding of said Meeting for such purpose, and that said
Meeting was open to the public and public notice of the time, place and purpose of said meeting was
given, all as required by Chapter 551, Texas Government Code.
SIGNED AND SEALED THE 25TH DAY OF MAY, 2006.
~~
~J' ~ :Jt~~
Mayor
City Secretary
(SEAL)
PASSED AND APPROVED this 25th day of May, 2006.
ATTEST ~
~
Connie Hooks, City Secretary
APPROVED:
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. .I./.~'-
Ron Silvia, ay@{
(Seal)
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
College Station, Texas, to issue one or more series of the interest bearing certificates of obligation
of the City to be entitled "City of College Station, Texas Certificates of Obligation", for the purpose
of paying contractual obligations to be incurred by the City, to-wit, construction of street and
pedestrian improvements and extensions throughout the City; the acquisition ofland, design costs,
development costs and construction costs for a City-owned cemetery; construction of improvements
and additions to the City-owned Wolf Pen Creek amphitheater; construction and renovation of a
building owned by the City for use by the Police Department; the development of a 10-acre
neighborhood park in the vicinity of University Drive and Spring Loop in the City, including the
acquisition and construction of walks, benches, drinking fountains, public restroom facilities, tables,
lights, public shelter, and parking facilities; and the payment of fiscal, engineering and legal fees
incurred in connection therewith.
The City Council tentatively proposes to authorize the issuance of said series (one or more)
of Certificates of Obligation at its regular meeting place in the City Hall at a meeting to commence
at 7 o'clock, p.m., on the 22nd day ofJune, 2006. The maximum amount of Certificates of Obligation
indebtedness that may be authorized to be sold on said date for such purposes described above is
$10,000,000 The City Council presently proposes to provide for payment of said series (one or
more) of Certificates of Obligation from the levy of taxes and from a limited surplus revenue pledge
(not to exceed $1,000) derived from the operation of the City's electric, waterworks and sewer
systems
CITY OF COLLEGE STATION, TEXAS
Isl Ron Silvia
Mayor