HomeMy WebLinkAbout1-24-2002-12.13 - Resolution - 01/24/2002 wrr RESOLUTION NO. 1 - 2002 - 12.13
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 2002; 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 ofthe 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 itself for 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
Slaw after the date any expenditure which is to be reimbursed is paid.
`r► Section 5. That this Resolution shall be effective immediately upon passage and adoption.
PASSED AND APPROVED THIS 24th day of January, 2002.
Lynn cllhaney, Mayor /
ATTEST:
e lN1AU:e_ 141
Connie Hooks, City Secretary (Seal)
APPROVED:
Citt -Pet,11/ kw
Bond Counsel