04-08-21-6.2 - Resolution - 04/08/2021THE ST A TE OF TEXAS
COUNTY OF BRAZOS
CERTIFICATE FOR RESOLUTION
CITY OF COLLEGE ST A TION
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 8, 2021 at the
designated meeting place, and the roll was called of the duly constituted officers and members of
this City Council, to wit:
Karl Mooney, Mayor
Bob Brick, Place 1 Councilman
John Crompton, Place 2 Councilman
Linda Harvell, Place 3 Councilwoman
Elizabeth Cunha; Place 4 Councilwoman
John Nichols, Place 5 Councilman
Dennis Maloney, Place 6 Councilman
and all of the persons were present except \-<CA.r\ Moone...'( , thus constituting
a quorum. Whereupon, among other business, the following was transacted at the meeting: a
written
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFICATES OF OBLIGATION,
SERIES 2021; AND PROVIDING AN EFFECTIVE DATE.
was duly introduced for the consideration of this City Council. It was then duly moved and
seconded that this Resolution; and, after due discussion, the motion prevailed and carried by the
following vote:
AYES: s NOES:
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 office1;s 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 8 , 2021.
~ nya D. Smith :i:s:::
(City Seal)
City of College Station Resolution Directing Publication of Notice of Intention to Issue
Certificates of Obligation, Series 2021
RESOLUTION NO. OLl-08-1\-r;,.1..
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2021; 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 8, 2021 .
(City Seal)
APPROVED :
Ca , itrkhurst & Horton L.L.P .
Bond Counsel
Resolution Directing Publication of Notice of Intention to Issue Certificates of Obligation, Series
2021
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 $62,443,000 for paying all or a portion of the City's
contractual obligations to be incurred in connection with constructing, improving, acquiring and equipping
the following projects: (i) streets and roads including related drainage, landscaping, signalization, lighting,
pedestrian improvements and signage related thereto; (ii) information technology and communication
equipment; (iii) equipment maintenance facility and fleet vehicles; (iv) 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
(v) 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 Jaw, 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 10, 2021 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 $172,266,200. The current combined principal
and interest required to pay all outstanding debt obligations of the City on time and in full, is $223,355,242.
The maximum principal amount of the Certificates to be authorized is $62,443,000 and the estimated
combined principal and interest required to pay the Certificates to be authorized on time and in full is
$79,330,230. 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, 2041. The above
information excludes $164,503,800 in principal amount of the following obligations the City has designated
as self-supporting and which the City reasonably expects to pay from revenue sources other than ad valorcm
taxes: General Obligation Refunding Bonds, Series 2010; General Obligation Improvement and Refunding
Bonds, Series 2013; General Obligation Improvement and Refunding Bonds, Series 2014; General
Obligation Improvement and Refunding Bonds, Series 2016; General Obligation Improvement and
Refunding Bonds, Series 2017; General Obligation Refunding Bonds, Series 2020 and Series 2020A and
Certificates of Obligation Series 2013, Series 2014, Series 2016, Series 2017, Series 2018, Series 2019 and
Series 2020. In the event these self-supporting revenue sources are insufficient to pay debt service, the City
is obligated to levy ad valorem taxes to pay such debt obligations. Information regarding the self-supporting
debt and all other debt of the City may be obtained by contacting the Director of Fiscal Services at 1101
Texas Avenue, College Station, TX 77840 and by phone at 979-764-3645.
CITY OF COLLEGE STATION, TEXAS