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HomeMy WebLinkAbout3-25-99-2.13 - Resolution - 03/25/1999RESOLUTION NUMBER: 3-25-99-2.13 RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION WHEREAS, the City Council (the "City Council") of the City of College Station, Texas (the "City"), finds that the construction of a roadway and bridge structure within the City 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 t~vo 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 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. EXHIBITA 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 1999" (the "Certificatesof Obligation") for the purpose of providing financing for construction of street and bridge improvements to extend George Bush East south of Harvey Road to Southwest Parkway within the City, and of the payment of contractual obligations for professional services in connection therewith (to ~vit: 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 22nd day of April, 1999, in an amount expected not to exceed $850,000. 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 utility system. /s/ Lynn Mcllhaney Ma (SEAL) CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of College Station, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on March 25, 1999, at the meeting place designated in the notice (the "Meeting'), and the roll was called of the members, to wit: Lynn McIlhaney, Mayor, and the following City Councilmembers: David Hickson, Steve Esmond, Ron Silvia, Swiki Anderson, Larry Mariott, and Anne Hazen. All members of the Council were present, except Lc/tV/h] Ac..., "~-LP/tT:~'t4t , constituting a quorum. Whereupon among other business, the fbllowing was transacted at the l~ieeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES: ~ NOES: O ABSTENTIONS: O 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the offigers and me nbers of the Council was duly and sufficiently notified officially and personally, in advance, of the tim'e, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code. 3. Connie Hooks is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TH1S March 25, 1999. City Secretary City of College Station, Texas Station, Texas (CITY SEAL)