HomeMy WebLinkAbout4-24-03-10.5 - Resolution - 04/24/2003RESOLUTION NO. 4 - 24 - 03 - 10.5
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 2003;
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 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 Brvan - College Station Eaele, 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.
AT ST:
Connie Hooks, City Secretary
APPROVED:
Section 5. That this Resolution shall be effective immediately upon passage and adoption.
PASSED AND APPROVED THIS 24th day of April, 2003.
ivi3O4A
Bond ‘Counsel • v
on P
Ron Silvia, Mayor
(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 improvements at the Highway 40 intersection with Texas Avenue, the acquisition of
technology equipment for use by various municipal departments; 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 12th day of June, 2003. The maximum amount of
Certificates of Obligation indebtedness that may be authorized to be sold on said date for such
purposes described above is $840,000. 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
/s/ Ron Silvia
Mayor
THE STATE OF TEXAS
COUNTY OF BRAZOS
CITY OF COLLEGE STATION
CERTIFICATE FOR RESOLUTION
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 24TH DAY
OF APRIL, 2003, 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, Mayor
James Massey, Mayor Pro -Tem
John Happ,
Winnie Garner,
Scott Mears, Councilmembers,
Dennis Maloney,
Anne Hazen,
Connie L. Hooks, City Secretary
and all of said persons were present, 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 2003; 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 passed, and after due discussion, said motion prevailed
and carried by the following vote:
AYES 5
NOES 0
Absent from the meeting was Council members Massey and Happ
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 first reading 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.
(SEAL)
SIGNED AND SEALED THE 24TH DAY OF APRIL, 2003.
City Secretary Mayor