HomeMy WebLinkAbout7-13-2000-14.09 - Resolution - 07/13/2000RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION
RESOLUTION NUMBER: 7-13-2000-14.09
WHEREAS, the City Council (the "City Council") of the City of College Station, Texas (the
"City"), finds that the construction of a parking garage and the acquisition of certain real property and the
payment of contractual obligations for professional services in connection therewith (to wit: architectural,
engineering, financial advisory, and legal) would be beneficial to the inhabitants of the City and such
property is needed to perform essential governmental functions, and the City Council has determined that
certificates of obligation (the "Certificates of Obligation") should be issued pursuant to the applicable
laws of the State of Texas, including Chapter 271, Texas Local Government Code, for such purposes;
WHEREAS, prior to the issuance of the Certificates of Obligation, the City Council is required to
publish notice of its intention to issue the Certificates of Obligation in a newspaper of general circulation
in the City, the notice stating (i) the time and place the City Council tentatively proposes to pass the
ordinance authorizing the issuance of the Certificates of Obligation, (ii) the maximum amount of
Certificates of Obligation proposed to be issued, (iii) the purposes for which the Certificates of Obligation
are to be issued, and (iv) the manner in which the City Council proposes to pay the Certificates of
Obligation;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS, THAT:
SECTION 1. Attached hereto and marked "Exhibit A" is a form of notice, the form and
substance of which are hereby adopted and approved.
SECTION 2. The Mayor or the City Secretary shall cause the notice to be published, in
substantially the form attached hereto, in a newspaper, as defined in Section 2051.044, Texas Government
Code, of general circulation in the City for two consecutive weeks, the date of first publication to be at
least 14 days prior to the date tentatively set for the ordinance authorizing the issuance of the Certificates
of Obligation.
SECTION 3. The Official Notice of Sale, including the Official Bid Form and the Preliminary
Official Statement substantially in the forms attached hereto are hereby approved, and the Director of
Management and Budget and the City's Financial Advisor are authorized to distribute same among
entities which would be interested in bidding on the Obligations and other interested persons.
SECTION 4. The Director of Management and Budget 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.
SECTION 5. The Council hereby deems the Preliminary Official Statement to be final in
compliance with Rule 15c2-12 of the Securities and Exchange Commission.
SECTION 6. 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 10, 2000.
SECTION 7. The Mayor and the City Secretary are hereby authorized and directed to execute the
Certificate to which this Resolution is attached on behalf of the City Council and to do any or all things
proper and necessary to carry out the intent thereof.
PASSED AND APPROVED this July 13, 2000.
City Secretary, City of College Station, Texas Mayor,VCity of College Station,/I'exas
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-
beating obligations of the City presently contemplated to be designated and known as the "CITY OF
COLLEGE STATION, TEXAS CERTIFICATES OF OBLIGATION, SERIES 2000A" (the "Certificates
of Obligation") for the purpose of providing financing for the construction of a parking garage in the
Northgate area and acquisition of land, being approximately 5.79 acres on Texas Avenue between Krenek
Tap Road and King Cole Drive, and of the payment of contractual obligations for professional services in
connection therewith (to wit: architectural, engineering, financial advisory, and legal). 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 commenced at 7:00 p.m.,
on the 10th day of August, 2000, in an amount expected not to exceed $8,460,000. The City Council
proposes to provide for payment of the Certificates of Obligation from a pledge of an annual ad valorem
tax and a pledge of the City's parking garage revenues.
Lynn M;cIlhaney, Mayor /
City of College Station, Texas