HomeMy WebLinkAbout07-26-01-11.05 - Resolution - 07/26/2001RESOLUTION NUMBER: 7-26-2001-11.05
RESOLUTION APPROVING NOTICES OF SALE, PRELIMINARY OFFICIAL
STATEMENTS, AND RELATED MATERIALS FOR THE SALE OF "CITY OF
COLLEGE STATION, TEXAS GENERAL OBLIGATION IMPROVEMENT BONDS,
SERIES 2001", "CITY OF COLLEGE STATION, TEXAS CERTIFICATES OF
OBLIGATION, SERIES 2001", AND "CITY OF COLLEGE STATION, TEXAS
UTILITY SYSTEM REVENUE BONDS, SERIES 2001". INCLUDING SELECTION
OF A DATE FOR OPENING BIDS
WHEREAS, the City Council of the City of College Station, Texas (the "Council") has
determined that it is in the best interest of the City of College Station, Texas (the "City") to issue its
General Obligation Improvement Bonds, Series 2001 in the principal amount of $4,140,000, its
Certificates of Obligation, Series 2001 ill the principal amount of $3,650,000, and its Utility System
Revenue Bonds, Series 2001 in the principal amount of $23,500,000, (collectively, the "Obligations") for
purposes described in the below described documents as soon as possible;
WHEREAS, the City's Director of Fiscal Services, the City's Financial Advisor, and the City's
Bond Counsel are prepared to distribute necessary documents for such sale on a competitive bid basis;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS THAT:
I. The Official Notices of Sale, including the Official Bid Forms, and the Preliminary Official
Statements substantially in the forms attached hereto are hereby approved, and the Director Fiscal
Services and the Financial Advisor are authorized to distribute same among entities which would be
interested in bidding on the Obligations and other interested persons.
2. The Director of Fiscal Services and the Financial Advisor are authorized to apply to rating
agencies for ratings on the Obligations and to bond insurance companies for possible insurance of the
payment of the Obligations and to make presentations to them and provide to such entities the
information reasonably requested by them.
3. The Council hereby deems the Preliminary Official Statements to be final in compliance with
Rule 15c2-12 of the Securities and Exchange Commission.
4. The Council hereby authorizes its advisors, the Director of Fiscal Services, and its members to
do all things necessary to sell the Obligations on August 9, 2001.
PASSED AND APPROVED THIS 26th DAY OF July 2001.
APPROVED: ATTEST:
Lynn McIlhaney, Mayor
Connie Hooks, City Secretary
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE is hereby given that it is the intention of the City Council (the "City Council")
of the City of College Station, Texas (the "City") to adopt an Ordinance providing for the
issuance of interest-bearing obligations of the City presently contemplated to be designated and
known as the "CITY OF COLLEGE STATION, TEXAS CERTIFICATES OF OBLIGATION,
SERIES 2001" (the "Certificates of Obligation") for the purpose of providing financing for
purchase and installation of a communications fiber loop: development of a portion of Veterans
Park: public safety computer software and related systems; other compflter software and
hardware; 2nd Street Project pedestrian improvements; business park entry improvements;
neighborhood capital projects, all within the City; and the payment of contractual obligations for
professional services in connection therewith (to wit: architectural, engineering, financial
advisory, and legal) and debt issuance costs. The City Council tentatively proposes to authorize
the issuance of the Certificates of Obligation at its regular meeting place in the City Hall,
College Station, Texas, at a meeting of the City Council to be commended at 7:00 p.m., on the
12th day of July, 2001, in an amount expected not to exceed $3,650,000. The City Council
proposes to provide for payment of the Certificates of Obligation from a pledge of an annual ad
valorem tax and not to exceed $1,000 of the surplus revenues of the city's electric, waterworks
and sewer system.
Mayor[~ity of College Statig~, Texas