04-13-23-9.1 - Resolution - 04/13/2023CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF BRAZOS
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 13, 2023 at City
Hall, and the roll was called of the duly constituted officers and members of this City Council, as
follows:
John Nichols, Mayor Mark Smith, Place 1 Councilman
William Wright, Place 2 Councilman Linda Harvell, Place 3 Councilwoman
Elizabeth Cunha; Place 4 Councilwoman Bob Yancy, Place 5 Councilman
Dennis Maloney, Place 6 Councilman
and all of the persons were present except _____________________________-, 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 2023; AND
PROVIDING AN EFFECTIVE DATE
was duly introduced for the consideration of this City Council. It was then duly moved and
seconded that the resolution (the Resolution) be approved, and, after discussion, the motion
prevailed and carried by the following vote:
2. A true, full and correct copy of the Resolution is attached to and follows this certificate
and the Resolution has been duly recorded in the City Council's minutes of the Meeting. The
above paragraph is a true, full and correct excerpt from the City Council's minutes of the meeting
at which the Resolution was approved. The persons named above are the duly chosen, qualified
and acting officers and members of the City Council. Each of the officers and members of the City
Council was duly and sufficiently notified officially and personally, in advance, of the time, place
and purpose of the meeting, and that the Resolution would be introduced and considered at the
meeting, and each of the officers and members consented, in advance, to the holding of the meeting
for such purpose, and that 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.
AYES: NOES: 1
(no absences)
6
City of College Station Resolution Directing Publication of Notice of Intention to Issue
Certificates of Obligation, Series 2023
3.The Mayor of the City has approved and hereby approves the Resolution, and the Mayor
and the City Secretary of the City have duly signed the Resolution, and the Mayor and the City
Secretary of the City hereby declare that their signing of this certificate shall constitute the signing
of the attached and following copy of the Resolution for all purposes.
PASSED AND APPROVED ON APRIL 13, 2023.
________________________________
Tanya D. Smith
City Secretary
________________________________
John Nichols
Mayor
(City Seal)
RESOLUTION NO. 04-13-23-9.1
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2023; 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 the 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. That this Resolution shall be effective immediately upon passage and
adoption.
Resolution Directing Publication of Notice of Intention to Issue Certificates of Obligation, Series
2023
PASSED AND APPROVED ON APRIL 13, 2023.
____________________________________
John Nichols, Mayor
ATTEST:
____________________________________
Tanya D. Smith, City Secretary
(City Seal)
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 $30,100,000 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) improvements and extensions to the City's combined waterworks, sewer and electric
systems including distribution, transmission, system lines, lift stations, pumps, storage tanks, metering,
wells, plant improvements, and acquisition of interests in land for such purposes; and (iv) 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 8, 2023 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 $222,668,586. The current combined principal
and interest required to pay all outstanding debt obligations of the City on time and in full, is $288,804,689.
The maximum principal amount of the Certificates to be authorized is $30,100,000 and the estimated
combined principal and interest required to pay the Certificates to be authorized on time and in full is
$43,504,981. 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, 2043. The above
information excludes $209,401,414 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 valorem
taxes: 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, Series 2020, Series 2021 and Series 2022. 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