HomeMy WebLinkAbout03-28-19-04 - Resolution - 03/28/2019 RESOLUTION NO. 03-28-19-04
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2019; 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 form
and substance of which are hereby passed and approved.
Section 2. That the City Secretary shall cause said 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 30th day before
the day tentatively proposed for authorizing the issuance of the Certificates of Obligation as shown
in said notice.
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.
PASSED AND APPROVED ON MARCH 28, 2019.
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Karl oon Ma or
ATTEST:
Tanya D S it , City Secretary
(City Seal)
APPROVED:
McCll, Parkhurst Orton L.L.P.,
Bond Counsel
Resolution Directing Publication of Notice of Intention to Issue Certificates of Obligation, Series
2019
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
College Station, Texas, to issue one or more series of the interest bearing certificates of obligation
of the City to be entitled"City of College Station,Texas Certificates of Obligation",for the purpose
of paying contractual obligations to be incurred by the City, to-wit: (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, shade structures and pavilions; (iii) purchasing and installing
technology improvements including video surveillance, diagnostic systems, fiber optic
infrastructure, fuel system rehabilitation, and communication equipment; (iv) designing and
constructing a new City Hall; (v) designing and constructing a new police station; (vi)
improvements to fleet maintenance facilities consisting of oil pit and storm drain upgrades; (vii)
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 (viii) the payment of
fiscal, engineering and legal fees incurred in connection therewith.
The City Council tentatively proposes to authorize the issuance of one or more series of
Certificates of Obligation at its regular meeting place in the City Hall, 1101 Texas Avenue,College
Station, TX 77840 at a meeting to commence at 6:00 p.m., on May 13, 2019. The ordinances may
authorize an authorized officer of the City to effect the sale and delivery of the Certificates of
Obligation on a date or dates subsequent to the adoption of the ordinance. The maximum amount
of Certificates of Obligation indebtedness that may be authorized to be sold on said date for such
purposes described above is $82,000,000. The City Council presently proposes to provide for
payment of the Certificates of Obligation from the levy of ad valorem taxes and from a limited
surplus revenue pledge (not to exceed$1,000)derived from the operation of the City's waterworks,
sewer and electric systems.
CITY OF COLLEGE STATION, TEXAS
CERTIFICATE 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 March 28, 2019 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
Linda Harvell, Mayor Pro Tem
Robert Brick, Councilmember
Jerome Rektorik, Councilmember
Elianor Vessali, Councilmember
John Nichols, Councilmember
Dennis Maloney, Councilmember
and all of said persons were present except 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 2019; 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:
AYES:'7 NOES: O
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 MARCH 28, 2019.
*nya D'�mith /ar ooney
City Secretary Yayor
(City Seal)
City of College Station Resolution Directing Publication of Notice of Intention to Issue
Certificates of Obligation, Series 2019