04-09-20-4.9 - Resolution - 04/09/2020RESOLUTION NO. 04-09-20-4.9
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2020; 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
"Notice"), the form and substance of which are hereby passed and approved.
Section 2. That the City Secretary shall cause the Notice to be published, in the form
attached hereto, in the "Bryan-College Station Eagle", a newspaper of general circulation in the
City, for two consecutive weeks, the date of the first publication to be before the 45th day before
the day tentatively proposed for authorizing the issuance of the Certificates of Obligation as shown
in the Notice. Additionally, the Notice shall be posted continuously on the City's website for at
least forty-five days before the date tentatively set for final passage of the ordinance or ordinances
authorizing the issuance of the Certificates of Obligation.
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 "Exhibit A" hereto.
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.
Section 5.
adoption.
That this Resolution shall be effective immediately upon passage and
PASSED AND APPROVED ON APRIL 9, 2020.
(City Seal)
APPROVED:
Bond Counsel
Resolution Directing Publication of Notice oflntention to Issue Certificates of Obligation, Series
2020
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
The City Council of the City of College Station will consider the passage of an ordinance or ordinances
authorizing the issuance of one or more series of interest bearing certificates of obligation (the
"Certificates") in the principal amount not to exceed $49,995,000 for paying all or a portion of the City's
contractual obligations to be incurred in connection with (i) constructing and improving streets and roads
including related drainage, landscaping, signalization, lighting, pedestrian improvements and signage
related thereto; (ii) designing, constructing, equipping and installing parks and recreation equipment and
improvements including park infrastructure improvements and park rehabilitation, lighting, fencing, shade
structures and pavilions; (iii) purchasing and installing technology improvements including video
surveillance, network upgrades and replacements, diagnostic systems, fiber optic infrastructure and
communication equipment; (iv) acquiring, constructing, designing and engineering a new City Hall
including related landscaping, lighting, parking and signage related to such City Hall and the costs
associated with the purchase of necessary interests in land, including easements, necessary for such
projects; (v) constructing improvements and extensions to the City's combined waterworks, sewer and
electric systems including distribution, transmission, system lines, lift stations, metering, wells, plant
improvements, and acquisition of interests in land for such purposes; and (vi) the payment of fiscal,
engineering and legal fees incurred in connection therewith.
The City proposes to provide for the payment of such Certificates from the levy and collection of ad valorem
taxes in the City as provided by law, and from a limited pledge (not to exceed $1,000) of the surplus
revenues of the City's waterworks, sewer and electric systems, remaining after payment of all operation and
maintenance expenses thereof, and all debt service, reserve, and other requirements in connection with all
of the City's revenue bonds or other obligations (now or hereafter outstanding), which are payable from all
or any part of the net revenues of the City's waterworks, sewer and electric systems. The Certificates are to
be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code,
Chapter 271, Subchapter C.
The City Council tentatively proposes to adopt the ordinance(s) authorizing the Certificates at a meeting to
be held at 7:00 P.M. on June 11, 2020 to be held at City Hall, 1101 Texas Avenue, College Station, TX
77840. The ordinance(s) may authorize an authorized officer of the City to effect the sale and delivery of
the Certificates on a date or dates subsequent to the adoption of the ordinance(s).
The following information is provided to comply with Tex. H.B. 477, 86 Leg., R.S. (2019). The current
principal of all outstanding debt obligations of the City is $372,000,000. The current combined principal
and interest required to pay all outstanding debt obligations of the City on time and in full, is $487,215,427.
The maximum principal amount of the Certificates to be authorized is $49,995,000 and the estimated
combined principal and interest required to pay the Certificates to be authorized on time and in full is
$61,691,008. The maximum interest rate for the Certificates may not exceed the maximum legal interest
rate. The maximum maturity date of the Certificates to be authorized is February 15, 2040. The above
information excludes $0.00 in principal amount of outstanding debt obligations the City has designated as
self-supporting and which the City reasonably expects to pay from revenue sources other than ad valorem
taxes; provided, however, that in the event such self-supporting revenue sources are insufficient to pay debt
service, the City is obligated to levy ad valorem taxes to pay such debt obligations.
CITY OF COLLEGE STATION, TEXAS
2020 Draft Debt Issue
General Government Certificates of Obligation
Street Projects
Total
Park Projects
Total
Vertical, Facilities, IT Projects
Total
Fleet/IT/Equipment Replacement
Budgeted
1,000,000
750,000
700,000
500,000
200,000
55,000
380,000
150,000
50,000
$ 3,785,000
660,000
1,800,000
400,000
1,725,000
$ 4,585,000
6,785,000
200,000
160,000
810,000
$ 7,955,000
Proposed
1,000,000
750,000
700,000
500,000
200,000
55,000
380,000
150,000
50,000
$ 3,785,000
660,000
1,800,000
400,000
1,725,000
$ 4,585,000
6,785,000
200,000
160,000
810,000
$ 7,955,000
Greens Prairie Road -West of Woodlake to Royder
SH 40 and FM 2154 Interchange
Design of FM2818 Capacity Improvements
Traffic Signals
Dartmouth/2818 Signal
Luther Extension (FM 2818 to North Dowling)
Rock Prairie Road -SH6 to Medical Way
Luther Street Rehab-Marion Pugh to Penberthy
Oversize Participation
System Wide Park Improvements
Southeast Park Increase
Aggie Field of Honor Fencing
Memorial Cemetery Operations Shop
New City Hall
IT Revolver
Video Surveillance
Network Upgrades/Replacement
190,000 190, 000 Equipment Replacement
Total $ 190,000 $ 190,000
Unfunded Projects
___ 4,~2_00~,_oo_o ___ 4_,2_0_0~,o_o_o TBD Various Projects
Total $ 4,/00,000 $ 4,200,000
Governmental CO Subtotal $ 20,715,000 $ 20,715,000
ST1703
ST1803
ST1603
ST1704
ST1907
ST2005
ST2004
ST2002
ST1701
PK1702
HM1607
PK2001
PK2002
GG1801
Various
C01802
C02000
Various
TBD
2020 Draft Debt Issue
General Government Certificates of Obligation
Utility Certificates of Obligation
Water Projects
Total
Wastewater Projects
Total
Electric Projects
Budgeted
4,250,000
340,000
610,000
550,000
500,000
700,000
500,000
260,000
500,000
$ 8,210,000
775,000
6,200,000
8,850,000
970,000
1,035,000
500,000
160,000
1,000,000
400,000
240,000
$ 20,130,000
Proposed
4,250,000
340,000
610,000
550,000
500,000
700,000
500,000
260,000
500,000
$ 8,210,000
775,000
6,200,000
8,850,000
970,000
1,035,000
500,000
160,000
1,000,000
400,000
240,000
$ 20,130,000
Total $-$ -
Utility CO Subtotal $ 28,340,000 $ 28,340,000
Estimated Debt Issuance Costs $ 700,000 $ 700,000
Total Debt Issue $ 49,755,000 $ 49,755,000
Rock Prairie Road Elevated Storage Tank w/PRVs
Rehabilitation of Water Well Pumps and Motors
SH6 Water Line Ph Ill-WC to Sebesta
2818 Transmission Line Relocation
Woodson Village Rehab
Greens Prairie Water Tank Rehab
McCulloch Utility Rehab
Park Place/Holik/Anna Utility Rehab
Jones Butler Rehab
McCulloch Utility Rehab
LC Capacity Expansion & Nutrient Removal
Lick Creek Parallel Trunk Line
Northeast Sewer Trunk Line PH II
Northeast Sewer Trunk Line PH Ill
Woodson Village Rehab
Southwood Valley Trunkline
Bee Creek Parallel Trunk Line PH Ill
Park Place/Holik/Anna Utility Rehab
Carter Creek Equipment Shed
WA1800001
WA1877982
WA1957432
WA1900003
WA1957431
WA1900004
WA1900001
WA1945844
WA2001
WW1900001
WW1945495
WW1877335
WW1957471
WW1700002
WW1957430
WW1997793
WW1900005
WW1945843
WW1800004
THE STATE OF TEXAS
COUNTY OF BRAZOS
CERTIFICATE FOR RESOLUTION
CITY OF COLLEGE STATION
We, the undersigned officers of the City of College Station, Texas (the "City"), hereby
certify as follows:
1. The City Council of the City convened in a regular meeting on April 9, 2020 at the
designated meeting place, and the roll was called of the duly constituted officers and members of
said City Council, to wit:
Karl Mooney, Mayor
Bob Brick, Place 1 Councilman
John Crompton, Place 2 Councilman
Linda Harvell, Place 3 Councilwoman
Vacancy, Place 4
John Nichols, Place 5 Councilman
Dennis Maloney, Place 6 Councilman
and all of said persons were present except (no absences) , thus constituting a quorum.
Whereupon, among other business, the following was transacted at said Meeting: a written
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFICATES OF OBLIGATION,
SERIES 2020; AND PROVIDING AN EFFECTIVE DATE.
was duly introduced for the consideration of said City Council. It was then duly moved and
seconded that said Resolution; and, after due discussion, said motion prevailed and carried by the
following vote:
A YES: _§_ NOES: _Q_
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 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.
SIGNED AND SEALED ON APRIL 9, 2020.
(City Seal)
City of College Station Resolution Directing Publication of Notice oflntention to Issue
Certificates of Obligation, Series 2020