HomeMy WebLinkAbout2004-2721 - Ordinance - 04/29/2004ORDINANCE NO 2721
PROVIDING FOR THE ISSUANCE OF $9,315,000 CITY OF COLLEGE
STATION, TEXAS CERTIFICATES OF OBLIGATION, SERIES 2004 AND
ORDAINING OTHERMA'I-I-J~RS RELATING TO THE SUBYECT, INCLUDING
IMMEDIATE EFFECTIVENESS
WHEREAS, on thc 1 lth day of March, 2004, the City Council of the City of College Station
(the "City" or the *Issuer'*) passed a resolution authorizing and directing notice of its intention to
issue the Certificates of Obli§etion hereto authorized to be issued on April 22, 2004, to be published
in a newspaper as required by Section 271 049 of the Texas Local Government Code; and
WHEREAS, said notice was published in the Bryan-College Statton Eagle, a "newspaper"
of the t~e described in Section 2051 044, Texas Government Code, as required by smd Section
271 049 of the Texas Local Govemmant Code, on April 5, 2004 and April 12, 2004, and
WHEREAS, the City Council meeting originally scheduled for April 22, 2004 was
reschaduled to be held on April 29, 2004, and
WHEREAS, no petition, signed by at least 5% of the qualified electors of said City as
permitted by said Section 271 049 of the Texas Local Government Code protesting the issuance of
such Certificates of Obligetion, has been filed, and
WHEREAS, the Certificates of Obligation herelnaRer authorized are to be issued and
delivered pursuant to Subchapter C of Chapter 271 of the Texas Local Government Code,
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS
Section I AUTHORIZATION OF CERTIFICATES OF OBLIGATION. That said City's
Certificatas of Obligation, to be designated the "City of College Station, Texas Certificates of
Obligation, Series 2004", are hereby authorized to be issued and delivered in the principal amount of
S9,315,000 for the purpose of paying contractual obligations to be incurred by the City, to-wit.
1)
construction ofstreets, drainase improvements, street lighting, and water and sewer
improvamants in the City, including the area of the City located at the northcest side
of Highway 6 and the northwest side ofGrecas Prmrie Road; and
2) the payment of fiscal, engineering and leBel fees incurred in connection therewith
Section 2 DATE, DENOMINATIONS, NUMBERS AND MATURITIES That said
Certificates of Obligation shall initially be issued, sold and delivered hereunder as fufly reBistered
certificates, without interest coupons, dated May 1, 2004, in the respective denominations and
principal amounts hereinafter stated, numbered consecutively from R-I upward, payable to the
respective initial registered owners thereof, or to the registered assignee or assilplecs of said
camifleates or any portion or portions thereof (in each case, the "Registered Owner"), and said
Certificates of Obligation shall mature and be payable on February 1 $ in each of the years and in the
principal amounts as follows
PRINCIPAL PRINCIPAL
YEAR AMOUNT f$~ YEAR AMOUNT
200~
2006
2007
2008
2OO9
2010
2011
2012
2013
2014
~0~,000
360,000
360,000
370,000
37~000
385 000
39~ 000
40S000
420 000
430 000
20IS 445,000
2016 460,000
2017 480,000
2018 49~,000
2019 SIS,O00
2020 S3~,O00
2021 ~60,000
2022 ~80,000
2023 60~,000
2024 63~,000
The term "Certificates" as used in this Ordinance shall mean and include collectively the Certificates
of Obligation initially issued and delivered pursuant to this Ordinance and all substitute Certificates
of Obligatton exchanged therefor, ns well as all other substitute Certificates of Oblil~.tion and
replacement Certificates of Obl~anon issued pursuant hereto, and the term 'Certificate" shall menn
any of the Certificates
Section 3 REDEMPTION (a) That the City reserves the fight to redeem the Certificates
of Obligation maturing on or after February 15, 2014. in whole or in part m principal amounts of
$5,000 or any integral multiple thereof, on February 15, 2013, or on any date thereafter, at the
redemption price of par plus accrued interest to the date fixed for redemption If less than all of the
Certifieates of Obligation are to be redeemed by the City, the City shall determine the maturity or
maturities and the amounts thereofto be redeemed and shall direct the Paying ASant/Re~istrar to call
by lot Cemficates of Obligation, or portions thereof, within such maturity or maturities and in such
principal amounts, for redemption provided, that durin~ any period in which ownership of the
Cemficetes of Obligation is determined only by a book antty at a securities depository for the
Cemficates of Obligation, tf fewer than all of the Certificates of Oblisation ofthe same maturity and
bea~in~ the same interest rate are to be redeemed, the particular Certificates of Obli~tion of such
maturity and bearin~ such ~nterest rate shall be selected in accordance with the arran~emants between
the City and the securities depository Tbe City shall notify the Payins A~en~fltegistrer at least forty-
five (45) days prior to the scheduled redemption date that a redemption of the Certificates of
Obligation is to be effected
(b) The Certificates are not subject to mandatory sinkin8 fund redemption prior to maturity
(c) At least thirty (30) days prior to the date any such Certificates of Oblisat~on are to be
redeemed, a written notice of redemption shall be given by the Paying Agent/Registrar to the
registered owner of each Certificate of Obligation or a portion thereof being called for redemption
by depositing such notice in the United States mail, tim-class, postage prepaid, addressed to eanh
such registered owne~ at the address thereof as shown on the registration books of the Paying
Agent/Registrar By the date fixed for any such redemption due provision shall be made by the City
with the Paying Agent/Registrar for the payment ofthe required redemption price for the Cartificates
of Obligation or the portions thereofwlach are to be so redeemed, plus accrued interest thereon to
the date fixed for redemption Ir'such notice of redemption is given, and if due provision for such
pnyment is made, all as provided above, the Certificates of Obhgation, or the pomons thereof which
are to be so redeemed, thereby automatically shall be redeemed prior to their scheduled maturities,
and shall not bear interest alter the date fixed for their redemption, and shall not be regarded as being
outstanding except for the right of the registered owner to receive the redemption pnce plus nccrued
interest to the date fixed for redemption from the Paying Agent/Registrar out of the funds provided
for such payment. The Paying Agent/Registrar shall record in the Registration Books all such
redemptions of principal of the Certificates of Obhgafion or any portion thereof Ifa portion ofany
Certificate of Obligauon shall be redeemed, a submtute Certificate of Obligatton or Certificates of
Obligation having the same maturity date, bearing interest at the same rate, in any Authorized
Denomination, at the written request of the registered owner, and in an aggregate principal amount
equal to the unredeemed portion thereof, will he issued to the registered owner upon the surrender
thereof for cancellation, at the expense of the City, all as provided in this Ordinance In addition,
notice of such redemption shall be provided m the manner described in Section 5(h) hereof, but the
failure to provide such notice as described in Sectmon 5(h) hereof' shall not affect the validity or
effectiveness of the proceedtngs for the redemption of the Certificates of Obligation
Section 4 IN't-~REST The Certificates scheduled to mature during the years, respectively,
set forth below shall bear interest at the following rates per annum
maturities 2005, % maturities 2015,
maturities 2006,. % maturities 2016,.
maturities 2007, % maturities 2017,
maturities 2008, % maturities 2018,
maturities 2009, % maturities 2019,
maturities 201 O, % maturities 2020,
maturities 201 I, % maturities 202 I,
maturities 20 ! 2,. % maturities 2022,
maturities 2013, % maturities 2023,
maturities 2014, % maturities 2024,
S~d interest shall be payable to the registered owner of any such Certificate in the manner provided
and on the dates stated in the FORM OF CERTIFICATE
Section 5 CHARACTERISTICS OF THE CERTIFICATES (a) The Issuer shall keep or
cause to be kept at the corporate trust office in Dallas, Texas (the "Designated Trust Office") of
JPMorgan Chase Bank, or such other bank, trust company, financial institution, or other agency
named in accordance with the provisions of (g) below (the "Paying Agant/Registrar"), books or
records for the regtstration and transfer of the Certificates (the "Registration Books"), and the Issuer
hereby appoints the Paying Agent/Registrar ns its registrar and transfer ngent to keep such books or
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records and make such transfers and registrations under such reasonable regulations as the Issuer and
Payin~ Agent/Registrar may prescribe, and thc Payin8 Agent/Registrar shall make such transfers and
registrations as herein provided It shall be the duty oftha Payin~ Agent/Registrar to obtsin froin the
~gistered owner and record in the Registration Books the address of the registered owner of each
Certificate to which payments with respect to the Cartificetes shall he inalled, as here~n provided The
Issuer or its designee shall have the right to inspect thc Registretton Books during regular business
hours of the Paying AgcnVRegistrar at tts Designated Trust Office, but otherwise the Payin~
Agent/Registrar shall keep the Registration Books confidential and, unless otherwise reqmred by law,
shall not permit their insl~ction by any oth~r entity Registration of each Certificate may be trans-
ferred in the Registration Books only upon presentation and surrender thereof to the Paying Agent/-
Registrar at its Designated Trust Office for transfer of registration and cancellation, together with
proper written instruments of assignment, in form and with guarantee ofsiguatures satisfanto~y to the
Payin~ Agent/Registrar, evidencing the assignment of such Certificate, or any portion thereof in any
integral inulttple of $5,000, to the assignee or assignees thereof, and the right of such assignee or
assignees to have such Certificate or any such portion therenfregistered in the name of such assignee
or asstgnees. Upon the assignment and transfer of any Certificate or any portion thereof, a new
substitute certificate or certificates shall be issued in exchange therefor in the manner herein provided
Co) The entity in whose name any Certdieate shall be registered in thc Registration Books at
any time shall be treated as the absolute owner thereof for all purposes of this Ordinance, whether
or not such certificate shall be overdue, and the City and the Paying Agent/Registrar shall not be
affected by any notice to the contrary, and payment of, or on account of, the principal of. premiuin,
if any, and interest on any such certificate shall be made only to such registered owner All such
payinents shall he valid end effectual to satts~ and discharge the liability upon such certificate to the
extent of the sum or suins so paid.
(c) The City hereby further appoints the Paying Agent/Registrar to act as the payin~ agent
for paying the principal of and interest on the Certificates, and to act as its agent to exchange or
rophce Certificates, all as provided h this Ordinance The Paying Agent/Registrar shall kenp proper
records of all payments inade by the Csty and the Paying Agent/Registrar with respect to the
Certificates, and of all exchanges thereof, and all replacements thereof, as provided in this Orcheance
(d) Eanh Certificate may be exchanged for fully registered certificates in the manner set forth
herein Each Certlneate issued and delivered pursuant to this Ordinance may, upon surrender thereof
at the Designated Trust Office of the Paying Agent/Registrar, together with a written request therefor
duly executed by the registered owner or the assignee or assignees thereof, or its or their duly
authorized auomeys or representatives, with guarantee of signatures satisfactory to the Paying
Agent/Registrar, at thc option of the registered owner or such assignee or assignees, as appropriate,
be exchanged for fully registered certificates, without interest coupons, tn the form prescribed in the
FORM OF CERI'tlqCATE, in the denomination of $5,000, or any integral multiple thereof (subje~
to the requirement hereinaRer stated that each substitute certificate shall have a single stated maturity
date), as requested in writing by such regtstered owner or such assignee or assignees, in an aggregate
principal amount equal to the principal amount ofany Certificate or Certificates so surrendered, and
payable to the appropriate registered owner, assignee, or assignees, as the case amy be If any
Certificate or portion thereof is assigned end transferred, each certt_qcate issued tn exchange therefor
shall have the same principal maturity date and bear interest at the same rate as the certificate for
which it is being exchanged ~h substitute certificate shall bear a letter and/or number to
distingnish it fi.om each other certificate The Paying ASent/Rngistrar shall exchange or replace
Certificates as provided her~J, and each flJlly registered certificate or c,mificates delivered in
exchangn ~or or replacement of any Ce~ificate or po~on thereof'as permitted or required by any
provision of'this Ordinance shall constitute one of'the Certificates for all purposes or'this Ordinance,
and may apin be exchanged or replaced It is speciflcaJly provided, however, that any Certificate
delivered in exchanse ~or or ropla~"..ment of.another Certificate prior to the first scheduled interest
payment date on the Certificates (as stated on the face thereof) shall be dated the seine date as such
Certificate, but each substitute certificate so delivered on or aRer such first scheduled interest
payment date shall be dated as of' the interest payment date preceding the date on which such
substitute certificate is delivered, unless such substitute certificate is delivered on an interest payment
date, in which c~se it shall be dated as of'such date of'delivery, provided, however, that if at the time
of'dellve~ of'any substitute certificate the interest on the certificate for which it is being exchanged
has not been paid, then such sub~tute certificate shall be dated as of.the date to which such interest
has been paid in full On each substitute certificate issued in exchange for or replacement or'any
Certificate or Certificates issued under this Ordinance there shall be pnnted thereon a Paying
Aaent/Re~istrar's Authentication Certificate, in the form herelnaRer set forth in the FORM OF
CERTIFICATE An authorized representative of the Paym8 Agen~/Rngistrar shall, before the
delivery of' any such substitute certificate, date such substitute certificate in the manner set forth
above, and manually sign and date such Authentication Certificate, and no such substitute certificate
shall be deemed to be issued or outstanding unless such Authentication Certificate is so executed.
The Paying Agent/Registrar promptly shall cancel all Certificates surrendered for exchanae or
replacement No additional ordinances, orders, or resolutions need be passed or adopted by the City
Council or any other body or person so as to accomplish the foregoing exchange or replacement of
any Certificetes or portion thereot~, and the Paying Aaent/Registrar shall provide for the printing,
execution, and delivery of the substitute certificates in the manner prescribed hereto Pursuant to
Chapter 1206, Texas Government Code, the duty of exchange or replacement of any Certificates as
aforesaid is hereby imposed upon the Paying Aaent/Rngistrar, and, upon the execution of said Paying
Aaent/Registrar's Authentication Certificate, the exchanged or replaced certificate shall be valid,
incontestable, and enforceable in the same manner and with the same effect as the Ce~lficates which
originally were delivered pursuant to this Ordinnnce, approved by the Attorney General, and
registered by the Comptroller of Public Accounts. Neither the City nor the Paying Agent/Registrar
shall be required to tranger or exchange any Certificate so selected for redemption, in whole or in
part, within 45 calendar days of the date fixed for redemption, provided, however, such limitation of.
transfer shall not be applicable to an exchange by the registered owner of'the uncelled principal of'a
Certificate
(e) Ali Certificates issued in exchange or replacement of any other Certificate or portion
thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of and
interest on such Certificates to be payable only to the registered owners thereof, (ii) may be redeemed
prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be exchanged for
other Certificates, (v) shall have the characteristics, (w) shall be signed and sealed, and (vii) the
principal ofand interest on the Certificates shall be payable, ali as provided, and in the manner re-
quired or indicated, in the FORM OF CERTIFICATE
(f) The City shell pay the Paying A~ent/Registrar's reasonable and customary fees and char~es
for making transfers of Certificates, but the ragistered owner of any Certificates requesting such
transfer shall pay any taxes or other I~ovemmental charges required to be paid with respect thereto
The registered owner of'any Certificates rcquesfin~ any exchange shall pay the Paying Agent. s-
trar's reasonable and standard or custonmy fees and char~es for exchanging any such cenillcete or
portion thereof, together ruth any taxes or governmental charges required to be paid with respect
thereto, all as a condition precedent to the exercise of such privilege of exchange, except, however.
that in the case ofthe exchange of'an assigned and transferred certificate or cel'tificetes or any portion
or portions thereof'in any integral multiple ot' 155.000. as provided in this Ordinance. such fees and
charges will be paid by the City In addition, the City hereby covenants with the registered owners
ofthe Certificates that it will (i) pay the ressonab[e and standard or customary fees and charges of
the Paying Agent/Registrar for its services with respect to the payment of'the principal of and interest
on Certificates. when due, and (ii) pay the fees and charges of the Paying Agent/Registrar for serv~eas
with respect to the transfer or registration of Certificates solely to the extent above provided, and
v~th respeet to the exchange of Certiflcetes solely to the extent above provided
(g) The City covenants with the registered owners ofthe Certificates that at all times while
the Certificates are outstanding the C,ty will provide a competent and legally qualified bank, trust
company, financial institution, or other agency to act as and perform the services of Paying
Agant/Registrar for the Certificates under this Ordinance, and that the Paying Agent/Registrar will
be one entity The City reserves the right to, and may, at its option, change the Paying Agent/Regis-
trar upon not less than 60 days written notice to the Paying Agent/Registrar In the event that the
entity at any time aeting as Paying Agent/Registrar (or its successor by merger, acquisition, or other
method) should resign or otherwise cease to act as such, the City covenants that it will promptly
appoint a competent and legally qualified national or state banking institution which shall be a
corporation organized and doin~ business under the laws of the United States of Americe or of any
mate, authorized under such laws to exercise trust powers, subject to supervision or examination by
federal or state authority, end whose qualifications substantially are similar to the previous Paying
Agent/Registrar to act as Paying Agent/Rngistrer under this Ordinance Upon any change in the
Paying Agent/Registrar. the previous Paying Agent/Registrar promptly shall transfer and deliver the
Registration Books (or a copy thereo0, along with all other pertinent books and records relating to
the Cerhflcates, to the new Paying Agent~egistrer designated and appointed by the City Upon any
change in the Pnyin8 Agent/Registrar, the City promptly will cause a written notice thereof to be sant
by the new Paying Agent/Registrar to each registered owner of the Certificates. by United States
Mail, first-class postage p~paid, which notice also shall give the address of the new Paying
Agent/Ragistrar By accepting the position end performing as such, each Payin~ Agent/Ragistrar
shall be deemed to have agreed to the provisions of this Ordinance, and a certtfed copy of this
Ordinance shall be delivered to each Paying Agent/Registrar
(h) (i) In addition to the manner ofprovidin8 notice of redemption of Certificates as
set forth in this Ordinance, the Paying Agent/Registrar shell sire notice of redemption of Cerfificates
by United States mai], first-class postage prepaid, at least 30 days prior to a redemption date to each
NRMS]R (as defined in Section 18 hereof) and the SID (as defined in Section 18 herenl~ In
addition, in the event of a redemption caused by an advance reftmding of'the Certificates, the Paying
Asant/Rngistrar shall send a second notice of redemption to the persons specified in the immediately
preceding sentence at least 30 days but not more than 90 days prior to the actual redemption date
Any notice sent to the NRMS~ or the SID shall be sent so that they are received at least two days
prior to the i~enerel mailing or publication date of such notice Tbe Paying Agent/Registrar shail also
send a notice oF prepayment or redemption to the owner of any Certificate who has not sent the
Certificates in for redemption 60 days after the redemption date
(ii) Each redemption notice, whether required in the FORM OF CF. RTIPICATE or
otherwise by this Ordinance, shall contain a description of the Certificates to be redeemed, Including
thc complete name oftbe Certificates, the series, the date of issue, the interest rate, the maturity date,
the CUSIP number, if any, the mounts called of each Certificate, the publication and mailing date
for the notice, the date of redemption, the redemption price, the name oftha Paying Agent/Registrar
nad the address at which the Certificate may be redeemed, including a contact person and telephone
number
(ii0 All redemption payments made by the Paying Agent/Registrar to the registered
owners of the Certificates shall include CUSIP numbers reletin8 to each amount paid to such
registered owner
Section 6 FORM OF CERTIFICATES The f~rm ofthe Cemflcates, including the form of
Paying Agent/Registrars Authentication Certificate, the form of Assignment and the form of
Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached
to tho Certificatas initially issued and delivered pursuant to this Ordinance, shall be in substantially
the form as set forth in Exhibit A to this Ordinance, with such appropriate variations, omissions, or
insertions as are permitted or required by this Ordinance The printer of the Certificates is hereby
authorized to print on the Certificates (i) the form of bond couasel's opinion relating to the
Certificates, and (ii) an appropriate statement of insurance furnished by a municipal bond insurance
company providing municipal bond insurance, if any, covering ail or any part oftbe Certificates
Section 7 DEFINITIONS That the terms "Certificates" end "Certificates of Obllgation"
shall mean the City of College Station, Texas Cmificates of Obligation, Series 2004, authorized to
be issued and delivered by tins Ordinance, end the term "Surplus Revenues" shall mean those
revenues ~rom the operation of the City's combined munielpai electric light and power, waterworks
and sewer system remaining after payment of ail operation and maintenance expenses thereof and
other obligations heretofore or hereaRer incurred to which such revenues have been or shall be
encumbered by a lien on and pledge of' such revenues superior to the lien on and pledge of' such
revenues to the Certificates
Section 8 INTEREST AND SINI~NG FUND. That a speciai fund or account, to be
designated the "City of College Station. Texas Series 2004 Certificate of Obligation Interest and
Sinking Fund" is hereby created and shall be established and maintained by the Issuer Said Interest
end Sinking Fund shall be kept separate and apart fi.om ail other funds and accounts of said Issuer,
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and shall be used only for paying the interest on and principal oF said Certificates All ed valorem
taxes lewed and collected for and on account of said Certificates shall be deposited, as collected, to
the credit of smd Interest and Sinldng Fund During each year while uny of said Certificates are
outstanding and unpaid, the governing body of said Issuer shall compute and ascertain the rate and
amount of ad valorem tax, hesed on the latest approved tax rolls of said Issuer, with fl~ll allowances
being made for tax delinquencies and the cost o~tax collections, which will be sufficient to raise and
produce the money required to pay the interest on said Certificates as such interest comes due, and
to prowde a sinking fitnd to pay the principal (including mandatory stoking fi~nd redemption
payments, if any) of said Certificates as such principnl matures or comes due throuF, h operation of
the mandatory sinking ~und redemption, R'any, but never less than 2% of the on~nal amount of smd
Certificates as a sinking fi~nd each year Said rate and amount of nd valorem tax is hereby ordered
to be levied a~inst ail taxable property in said Issuer for each year while any of said Certificates are
outstanding and unpaid, and said ed valorem tax shall be assessed and conected each such year and
deposited to the credit of the aforesaid Interest and Sinking Fund Said ad valorem taxes necessary
to pay the interest on and principal of said Certificates, as such interest comes due and such principal
matures, are hereby pledged for such payment, within the limit prescribed by law. There shall be
approl~iated ~om the General Fund of the City for deposit into the Interest and Sinking Fund moneys
as may be necessary to pay the principal end interest payments on the Certificates oF Obhgation
scheduled to occur on or before February 15, 2005
Section 9 REVENUES That the Certificates of ObliBat~on are additionally secured by end
shall he payable from the Surplus Revenues The Surplus Revenues are pledb, ed by the City pursuant
to anthority of Chapter 1502, Texas Government Code, specifically Section 1502 058 thereof The
City shall promptly deposit the Surplus Revenues upon their receipt to the credit of the Interest and
Sinking Fund created pursuant to Section 8, to pay the principal and interest on the Certificates of
Obligation The amount of Surplus Revenues pledged to tho payment of the Certificates of
ObliF, atJon shall not exceed $1,000
Section 10 TRANSFER That the City shell do any and nil things necessary to accomplish
the transt'er of monies to the Interest and Sinking Fund of this issue m ample time to pay such items
of principal and interest due on the Certificates of ObliBation
Section 11 SECURITY FOR FUNDS That the Interest and Sinking Fund created by this
Ordinance shell be secured in the manner and to the fullest extent perw;tted or required by law for
the security of public fonds, and such Fund shall be used only for the purposes and in the manner
permitted or required by thts Ordinance
Section 12 DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROY'ED
CERI'wICATES (a) Replacement Cert~catcs, That in the event any outstanding Certificate is
damaged, mutilated, lost, stolen, or destroyed, the Paying Agent/Registrar shall cause to he printed,
executed, end deiivemi, a new certificate of the same principal amount, maturity, and interest rate,
as the damaged, mutilated, lost, stolen, or destroyed Certificate, in replacement for such Certificate
in the manner hereina_Rer provided
~o) ApphcattonforReplacementCerttficates That applicationforreplacemantofdamaged,
mutilated, lost, stolen, or destroyed Certificates shall be made by the registered owner therenfto the
Paying Agent/Registrar In every case of loss, the~, or desmaction of a Certificate, the registered
owner applying for a replacement certificate shall furnish to the City and to the Paying
Agenl/P. egistrar such security or indemnity as may be required by them to save each of them harmless
from any loss or damase with respect thereto Also, in every case of loss, thett, or destruction of a
Certificate, the registered owner shall furnish to the City and to the Paying Agent/Registrar evidence
~o their satisfaction of the loss, the~, or destruction of such Certificate, as the case may be. In every
case of dama§e or mutilation of a Certificate, the registered owner shall surrender to the Paying
Agent/Registrar for cancellation the Cemficste so demaaed or mutilated
(c) N'o Default Occurred That notwithstanding the foregoing provistons of this S~"fion, in
the event any such Certificate shall have matured, and no default has occurred which is then
continuing in the payment of the principal of, redemption premium, if any, or interest on the
Certificate, the City may autborizo the payment of the same (without surrender thereof except in the
casa of a damnged or mutilated Certificate) instead of issuing a replacement ~mificate, provided
secodty or indenmity is furnished as above provided in this Section
(d) Charge for Issuing Replacement Certt. fi~ates. That prior to the issuance of any
replacement certificate, the Pa~nng Agent/Registrar shall dmrge the registered owner of such
Certificate with all legal, priming, and other expenses in connectton ther~nth. Every replacement
certificate issued putsuent to the provisions of this Section by virtue of the fact that any Certificate
is lost, stolen, or destroyed shall constitute a contra~ual obligation of the City whether or not the
lost, stolen, or destroyed Certificate shall be found at any time, or be enforceable by anyone, and shall
be entitled to all the benefits of this Ordinance eqtadly and proportionately with any and all other
Certflicates duly issued under this Ordinance
(e) duthortgy for lszutng Replacement Certtficates That in accordance with Section
1201 067, Texas Government Code, this Section of this Ordinance shall constitute authority for the
issuance of any such replacement certificate without necessity of further action by the City or any
other body or person, and the duty of the replacement of such certificates is hereby authorized and
imposed upon the Paying Agent/Registrar, and the Paying A&enffl~',egistrar shall authenticate and
dehver such Certificates in the form and manner and with the effect, as provided in Section 5(a) of
this Ordinance for Certificates issued in conversion end exchange of other Certificates
Sextion 13 FEDERAL INCOME TAX MATTERS That the City covenants to refrain
from any action which would adversely affect, or to take such action as to ensure, the treatment of
the Certificates of Obligation as obligations described in Section 103 of the Code, the interest on
which is not includable in the #~ross income" of the holder for purposes of federal income taxation
In furtherance thereof, the City covenants as follows
(a) to take any acUon to assure that no more than 10 percent of the proceeds of
the Certificates of Oblilgation (less amounts deposited to a reserve fond, if any) are used for
any "private business use," as defined ~n section 141COX6) of the Code or, if more than 10
percent of the proceeds are so used, that amounts, whether or not received by the City, with
respect to such private business use, do not, under the terms of this Ordmanea or any
underlying arrangement, directly or indirectly, secure or provide for the payment of more than
10 percent ofthe debt service on the Certificates of Obligatton, in contravention of Section
141(b)(2) of the Code,
(b) to take any action to assure that m the event that the "private business use"
described in subsection (a) hereof exceeds 5 percent of the proceeds of the Certttlcates of
Obligation (less amounts deposited mto a reserve fund, if any) then the amount in excess of
5 percent is used for a "private business use" which is "related" and not "disproportionate",
within the meaning of Section 141COX3) ofthe Code, to the 8overomenml use,
(c) to take any action to assure that no amount which is greater than the lesser of
$5,000,000, or five percent of the proceeds of the Certificates of Obligation 0ess amounts
deposited into a reserve fund, ifany) is directly or indirectly used to finance loans to persons,
other than state or local guvemmental units, m couu-&vention of Seotion ! 41 (o) of the Code,
(d) to refrain from taking any action which would otherwise result in the
Certificates of Obligation being treated as "private activity bonds" w~thin the meaning of
Section 141(b) of the Code,
(e) to refrain fi-om taking nny action that would result in the Certificates of
Obligation being "federally guaranteed" within the meaning of section 149(b) of the Code;
(0 to refrain from using any portion of the proceeds of the Certificates of
Obligation, directly or indiractiy, to acquire or to replace funds which w~e used. directly or
indirectly, to acquire investment property (ns defined in Section 148Co)(2) of the Code) which
produces a materially higher yield over the term of the Certificates of Obligation, other than
investment property acquired vath -
(1) proceeds of the Certificates of Obligation invested for a reasonable
temporao' period of three years or less until such proceeds are needed for the purpose
for which the cmificates of obhgation are issued,
(2) amounts invested in a bona fide debt service fund, within the meaning
of Section I 148-1(b) of the Treasury Regulations, and
10
(3) amounts deposited in any reasonably required reserve or replacement
fired to the extent such amounts do not exceed 10 perce~t of the proceeds of the
Certificates of Obhgat~on,
(g) to otherwise restrict the use of the proceeds of the Certificates of Oblisafion
or amounts treated as proceeds oftbe Certificates of Obligation, as may be necessa~, so that
the Certificates of Obhgatiun do not otherwise contravene the requirements of Section 148
of the Code (relating to arbitress) and, to the extent applicable, Section 149(d) of tbs Code
(rolatin8 to advance refundings), and
(h) to pay to the United States of America at least once during each five-yesr
period (beginning on the date ofdelivery of the Certificates of Obligatlon) an amount that is
at least equal to 90 percent of the "Exvces Eare~s," within the meaning of Section 148(0
of the Code and to pay to the United States of America, not later than 60 days after the
Certificates of Obligatlun have been paid in full, 100 percent of the amount then required to
be p~nd as a result of Excess Earnings under Section 148(0 of the Code
For purposes of the foregoing (a) and (b), the Issuer understands that the ter~i "proceeds" includes
'disposition proceeds" as defined in the Treasury Regulations and, in the case of refunding bonds,
transferral proceeds (if any) and proceeds of the refunded bonds expended prior to the date of
issuance ofthe Certificates of Obligation It Is the understanding oftbe City that the covenants con-
tained herein are intended to assure comphance with the Code and any regulations or rulings
promulgated by the U S Department of the Treasury pursuant thereto. In the event that regulations
or ruling are hereafter pronxflgated which modify or expand provisions ofthe Code, as applicable to
the Certificates of Obligation, the City vail not be required to comply with any covenant contained
herein to the extent that such failure to comply, tn the opinion ofnationaily-recognized bond counsel,
will not adversely effect the exemption bom federal income taxation of interest on the Certificates
of Obligation under Section 103 ofthe Code In the event that regulations or rulings are hereafter
promulgated which impose additional requirements which are applicable to the Certificates of
Obligation, the City agrees to comply with the additional requirements to the extent necessary, in the
opinion of nationaily-recoguized bond counsel, to preserve the exemption from federal income
tax~tion of~nterest on ~he Certificates of Obligation under Section 103 of the Code. In furtherance
of such intention, the City he~oy authorizes and directs the Mayor, the City Manager, any Assistant
City Manager end the Director of Fiscai Services to execute any documents, certificates or reports
required by the Code, and to make such elections on behaif of the City which may be permitted by
the Code as are consistent with the purpose for the issuance ofthe Certificates of Obligation
In ordor to facilitate cmuphance with clause (h) above, a "Rebate Fund" is he. by established
by the Ctty fur the sole benefit of the Umted States of America, and such Fund shall not be subject
to the elaim of eny other person, including without limitation the bondholders The Rebnte Fund is
established for the additional purpose of compliance with Section 148 of tbs Code
Section 14 ALLOCATION OF, AND LIMITATION ON, EXPENDITURES FOR THE
PROJECT That the Issuer covenants to account for the expenditure ofprocceds from the sale of the
Certificates and any investment earnings thereon to be used for the purposes described in Section I
11
of this Ordinance (such purpose offended to herein and Section 15 hereof as a 'Project") on its books
and records by allocating proceeds to expenditures within 18 months of the later of the date that (a)
the expenditure on a Project is made or Co) such Project is completed The foregoing
notwithstanding, the Issuer shall not expend such proceeds or investment ea~ more than 60 days
a~er the earlier of(a) the tiRh anniversary of the date of delivery o£the Certificates or (b) the date
the Certificates are retired, unless the Issuer obtains an OlXnlon ofnationaily-reco~nized bond counsel
substantially to the effect that such expenditure will not adversely effect the tax.exempt status of the
Certificates For purposes hereof, the Issuer shall not be obligated to comply with this covenant if
!t obtains an opinion that such failure to comply will not adversely effect the excludability t'or federal
income tax purposes from 8ross income ofthe interest
Section 15 DISPOSITION OF PROJECT That the Issuer ~ovenants that the property
constituting a Project will not be sold or otherwise disposed in a transaction resulting in the receipt
by the Issuer of cash or other compensation, unless the Issuer obtains an opinion of nationally-
recognized bond counsel substantially to the effect that such sale or other disposition will not
adversely alT~ct the tax-exempt status ofthe Certificates For purposes o£the foregolng, the portion
of the proper~y comprising personal property and d~sposed in the ordinary course shall not he treated
as a transaction resulting in the receipt of cash or other compensation For purposes hereof, the
Issuer shall not be obhgated to comply w~th this covenant if it obtains an opinion that such fadure to
comply will not adversely affect the excludability for federal income tax purposes from ~ross income
of the interest
Seclion 16 CUSTODY, APPROVAL, AND REGISTRATION OF CERTIFICATES. That
the City Manager of the City is hereby authorized to have control of the Ce~itlcates initially issued
and delivered hereunder and ell necesse~y records and proceedin~ pertaining to the Certificates
pending their dehvery and their investigation, examination, and approval by the Attorney General of
the State of Texes, and their registration bythe Comptroller of Public Accounts ofthe State of Texns
Upon registration ofthe Certificates said Comptroller of Public Accounts (or a deputy designated in
writing to act for said Comptroller) shall manually sign the Comptrollers Registration Certificate
attached to such Certificates, and the seal of said Comptroller shah be impressed, or placed in
facsimile, on such certificate.
Section 17 DTCREOISTRATION ThattheCertifieatesofObligationinltiallyshallheissued
and delivered in such manner that no physical distribution of the Certificates of Obligation will be
made to the public, and The Depository Trust Company ("DTC"), New York, New York, initially
will ect as depository for the Certificates of Obligation DTC has represented that it is a limited
purpose trust company incorporated under the laws of the State of New York, a member of the
Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform
Commercial Code, and a "clearing agency" registered under Section 17A ofthe Securities Exchange
Act of 19'~4, as emended, and the City accepts, but in no way verifies, such representations The
Certificates of Obli~tion initially authorized by this Ordinance shall be delivered to and registered
in the name of CEDE & CO, the nominee of DTC It is expected that DTC will hold the Certificates
of Obligation on behalf of the Underwriters (as defined in Sectmn 20 of this Ordinance) and its
participants So long es eech Certificate of Obligation is registered in tho nnme ofCEDE & CO, the
Paying Agent/Registrar shall treat and deal with DTC the same in all respects as ifit were the actual
12
and beneficial owner thereof It is expected that DTC will maintain a book=entry system which will
identify ownership oftbe C~tificetes of Obligetion in intngral amounts of $5,000, with transfers of
own~ship being elated on the records of DTC and ita participants pursuant to roles and regulations
established by them, end that the Certificates of Obligution initially deposited with DTC shall be
immobilized and not be further exchanged for substitute Certificates of Obligufion except as
herelna.~er provided The Ctty is not responsible or liable for any functions of DTC, will not be
responsible for paying any fees or charges with respect to its services, will not be responsible or liable
for raalntalning, supervising, or reviewing the records o£DTC or its participants, or protecting any
interests °r rishts ofthe beneficial owners ofthe Certificates of Obligation It sludl be the duty ofthe
DTC Participants, as defined in the Official Statement herein approved, to make all arrangaments with
DTC to establish this book-ent~ system, the beneficial ownership of the Certificates of Obligution.
and the method ofpaying the fees and charges of DTC The City docs not represent, nor does it in
any way covenant that the initml book-ent~y system established with DTC will be maintained in the
future Notwithstanding the initial establishment of the forngoing book-enuy system with DTC, if
for any reason any ofthe originally delivered Certificates of Obligution is duly filed with the Paying
Asent/Rngistrar with propa~ request for transfer and substitution, as provided for in this Ordinance,
substitute Certificates of Obligution will be duly delivered as provided in this Ordinance, and there
will be no assurance or n'presentation that any book-entry system will be maintained for such
Certificates of Obhgution In connection with the initial establishment ofthe forngoing book-entry
system with DTC, the City heretofore has executed a "Blanket Letter of Representations* prepared
by DTC in order to implement the book-ent~ system described abovc
Seotionl8 CONTINUING DISCLOSURE OBLIGATION. (a) Definmons. Thatasused
in this Section, the following terms have the meanings ascribed to such terms below.
"MSP, B" means the Municipal Securities Rulemaking Board
"ArRMS/R" means each person whom the SEC or its staff has determined to be a
nationally recosnized municipal securities information repository within the meaning of the Rule from
time to time
"Rule" means SEC Rule 1502-12, as amended from timo to thne
'SEC" means the United States Securities and Exchange Commission
'S/D" means any person designated by the State of Texas or an authorized
department, officer, or a~enoy the~of es, and determined by the SEC or its staff to he, a state
infornmtion depository within the meaning ofthe Rule from time to time
(b) ,4nnuai R~poru. (0 The City shall provide annually to each NRMSIR and any SID,
within six months aRer the end of each fiscal year endin~ in or aRer 2002, financial infornmt~on and
operating data with respect to the City of tho general type included in the final Official Statement
anthorized by Section 20 ofthis Ordinance, being the information described m Exhibit A hereto Any
financial statements so to be provided shall be (1) prepared in accordance with the accounting
principles described in Exhibit A hereto, or such other accounting principle~ as the City may be
13
requital to employ from time to time pursuant to state law or regulation, and (2) auditM, if th~ City
commissions an audit of such statements and thc audit is completed within the period during which
they must be provided Ifthe audit o£such financial statements is not complete within such p~od,
then the City shall provide unaudited financial statements by the required time, and shall provide
audited financial statements for the applicable fiscal year to each NILMSIR and any SID, when and
if the audit report on such statements become available
(ii) If the City changes its fiscal year, it will noti~ each NRMSIR and any SID of the clmnge
(and of the date ofthe new fiscal year end) prior to the next date by which the City otherwise would
be required to provide financial informatinn and operating data pursuant to this Section The financial
int'ormation and operating data to be provided pursuant to this Section may be set forth in foil in one
or more documents or muy be included by specific referenca to any document (including an official
statement or othe~ offering document, R'it is available fi'om tho MSRB) that theretofore hu been
provided to each NRMSIR and any SID or filed with the SEC
(c) MatenalEvent/~ottces. The City shall notify any SI]) nad either each NRMSI~ or the
MSRB, in a timely manner, of' any of the fei]owing events with respect to the Ce~ificates of
Obligation, if such event is material within the meaning of the federal securities laws
1
2.
3
4
6
7
8
9
10
11
Pfineipal and interest payment delinquencies,
Non-payment related def~lts,
Unscheduled draws on debt se~ice reserves reflecting financial dii~culties,
Unscheduled draws on credit enhancements reflecting financial difl~cultiea,
SubsUtution of credit or liquidity providers, or their failure to perform,
Adverse tax opinions or events affecting the tax-exempt status of the
Certificates of Obligation,
Modifications to n~hts of holders of the Certificates of Obli~tinn;
Cemficates of Obligation calls,
Release, substitutton, or sale of property securing repayment of the
Certtficates of Obligation, and
Rating changes
The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any
failure by the City to provide financial information or operating data in accordance with subsection
(b) of this Seedon by the time required by such subsection
(d) Ltmttattons, Dtsclatmers. and~mendments. (i) The City shall be obligated to obs~ve
and perform the covenants specified in this Section for so long as, but only for so long as, the City
remains an "obligated person" with respect to the Certificates of Obligation within the meaning of the
Rule, except that the City in any event will 8ire notice of any deposit made in accordanea with this
Ordinance or applicable law that causes Cemficates of Obligation no longer to be outstanding
(ii) The provisions of this Section are for the sole benefit of the resistered owners and
beneficial owners of the Certificates of Obbgation, and nothing in fins Section, express or implied.
14
shall ~vz any benefit or any legal or eqmtable right, remedy, or claim hemmder to any oth~r pe~son
The City undertakes to provide only the financial information, operating data, financial s~etements,
and notices which it has expressiy agreed to provide put.ant to this S~tion and does not hereby
under~e to provide any other information that may be relevant or n~ial to a complete
presentation of the City's financial results, condition, or prospects or hereby undertake to update any
information provided in accordance with this Section or otherwise, except as expressly provided
herein The City does not make any representation or warranty concerning such information or its
usefulness to a decision to invest m or sell Certificates of Obligation at any future date
(iii.) UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE
REGISTERED OWNER OR BENEFICIAL OWNER OF ANY CER'I'I.I"ICATE OF OBLIGATION
OR ANY OTHF_.R PriSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTINO IN
WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR
WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN TI-HS SECTION, BUT
EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR
ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR
MANDAMUS OR SPECIFIC PERFORMANCE
· (iv) No default by the City in observing or performing its obligations under this Section sim{l
comprise a breach of or default under the Ordinance for purposes of any other prevision of this
Ordinance Nothng in th, s Section is intended or shall act to disclaim, waive, or otherwise limit the
duties of the C;ty under federal and state securities laws
(v) The provisions ofthis Section may be amended by the City from time to time to adapt to
changed drcumstances that arise from a change in legal requirements, a change in law, or a change
in the identity, nature, status, or type of operetioas of the City, but only if(l) the provisions ofthis
Section, as so amended, would have permitted an underwriter to purchase or sell Certificates of
.Obligation in the prima~ offenng of the Certificates of Obligation in compliance with the Rule, taking
into account any amendments or interpretations of the Rule since such offering as well as such
changed circumstances and (2) either (a) the regmered owners ora majority in aggregate principal
amount (or any greater amount required by any other provision of this Ordinance that authorizes such
an amendment) of thc outstanding Certificates of Obhgation consent to such amendment or (b) a
person that is unaffdiated with the City (such as nationally recognized bond counsel) deto~mined that
such amendment will not materially imp~ur the interest of the registered ownem and beneficial owners
ofthe Certificates ofObligation lfthe City so amends the provisions of this Section, it shall include
with any amended financial information or operating data next provided in accordance with
subsection Co) of this Sect,on an explanation, in narrative form, ofthe reason for the amendment and
of the impact of any change in the type of financial informat,on or operating data so provided The
C,ty may also amend or repeal the provisions of this continuing disclosure agreement ffthe SEC
amends or repeals the applicable provision of the Rule or a court offlnsl jurisdiction entersjudgmect
that such provisions of the Rule are invalid, but only if and to the extent that the provisions ofthis
sentence would not prevent an underwriter from lawfully purchasing or sellinl~ Certificates of
Obligation in the primary offering of the Cert,ficates of Obligation
Section 19 DEFEASANCE (a) Deemed Paid Any Certificate of Obligation and the
interest thereon shall be deemed to be paid, retired and no longer outstanding (a '~f'eased
Certificate*) within the meaninB of this Ordimmce. except to the extent provided in subsection (e) of
this Section, when payment of the principal of such Certificate of Obligation, plus interest thereon
to the due date (whether such due date be by reason of maturity or otherwise) either (i) shall have
been made or caused to be made in accordance with the tr~ ms thereof, or (ii) shall have been provided
for on or before such due date by irrevocably depositing with or making available to the Paying
Agent/Registrar in accordance with an escrow agreement or other instrument (the 'Future Escrow
Agreement") for such payment (I) lawful money of the United States of Americe sufficient to make
such payment or (2) Defeasance Securities that mature as to principal and inte~st in such amounts
and at such times as will insure the availability, without reinvestment, ofsuffidant money to provide
for such payment, and when proper mTangaments have been made by the City with the Paying
Agant/Registrar for the payment of its senrices until all Defeased Certificates shall have bccomc due
and payable At such time as a Certificate of Obligafion shall be deemed to be a Defeesed CeniflcsAe
hereunder, as aforesaid, such Certificate of Obligation and the interest thereon shall no longer be
secured by, payable from, or entitled to the benefits of, the ad valorem taxes or revenues herein leaned
and pledged as provided in this Ordinance, and such pnncipai and interest shall be payable solely from
such money or Defeasance Securities
~o) Investments Any moneys so deposited with thc Paying AgenVRegistrar may sA the
written dircction of the City be invested in Defeasance Securities, maturing in the amounts and times
as hereinbefore set forth, and ali income from such Defeasance Securities received by the Paying
Agent/Resistrsr that is not required for the payment of the Certificates of Obligation and interest
thereon, with respect to which such money has been so deposited, shall be turned over to the City,
or deposited as directed in writing by the City Any Future Escrow Agreement pursuant to which
the money and/or Defeasance Sacunties are held for the payment of Defeased Certificates may
contain provisions permitting the investment or reinvestment of such moneys in Defeasance Securities
or the substitution of other Defeasance Securities upon the satisfaction of the requirements specified
in subsection (a)(i) or (ii) above Ail income from such Defeasance Securities received by the Paying
Agent/Registrar which is not required for the payment of the Defnssed Securities, with respect to
which such money has been so deposited, shah be remitted to the City or deposited as directed in
writing by the City
(c) Selectton ofDefeased Certtficates In the event that the City elects to defease less than
all of the pfinelpal amoum of Certificates of Obhgations of a maturity, the Paying Agant/Registrar
shall select, or cause to be selected, such amount of Certificates of Obligations by such random
method ns it deems fair and appropriate
(d) Dzfeasance Obhgattons The term "Defeasance Securities" means (i) direct, noncallable
obfigations of the United States of America. inclu&ng obhgatsons that are unconditionally 8ueranteed
by the United States of America, (ii) noncailable obligations of an aganoy or instrumentality of the
United States of America, mcluding obligations that are unconditionally 8uerentend or insured by the
agencT or instrumentality and that. on the date of the purchase thereof are rated as to investment
quality by a nationally recognized Investmem rating firm not less than AAA or its equivalent, and (iii)
noncallable obligations o£a state or an agency or a county, mumcipality, or other political subdivismn
16
of a state that have been refunded and that, on the date the governing body of the City adopts or
approves the proceedings authorizing the flnandal arrangaments are rated as to investment quality
by a nationally recognized investment rating firm not less than AAA or its equivalent
( e} Conttnumg Duty of Paytng Agent/Registrar. Until all Certificates of Obligation defcesed
under this Section of this Ordinance shall become due and payable, the Paying Agent/Registrer for
such Certificates of Obligation shall perform the services of Paying Agent/Registrar for such
Certificates of Obligatinn the same as if they had not been defeased, and the City shall make proper
arrangements to provide and pay for such services
Section 20 SALE OF CERTIFICATES (a) Sale to Underwrtters. That the sale of the
Certificates to Coastal Securities, as representative for the undervniters named in the Bond Purchase
Agreement (the "Purchase Agreement") between the City and the underwriters named therein (the
"Unden~niters"), at the purchase price described in the Purchase Agreement, is hereby anthonzed,
ratified twa confirmed One Certificate in the principal amount maturing on each maturity date as set
forth in Section 2 hereof shall be delivered to the Underwriters, and the Underwriters shall have the
right to exchange such Certificates as provided in Section 5 hereof without cost
Co) Fa~cutton of Purchase .48reement That tha Purchase Agrenment setting forth the terms
of the sale of the Certificates to the Underwriters, in substantially the form attached to this Ordinance,
is hereby accepted, approved and authorized to be dehvered in executed form to the Underwriters
(c)O~ciaiStaternent The "Official Statement" prepared in connection with the sale ofthe
Certificates, in substantially the form attached to this Ordinance, is hereby accepted, approved and
authorized to be delivered in executed form to the Underwritem The use ofthe "Preliminary Ofllclal
Statement" prepared in connection with the sale of the Certificates is hereby ratified
(d) Bondlnsurance. Thc Mayor, City ManaBer and the Director of Fiscal Sen/ices each is
authorized, in connection with effecting the sale of the Certificates, to obtmn from
(the "Insurer") a municipal bond insurance policy in support of the
Certificates To that end, for so long as such pohcy is in effect, the requirements of the Insurer
relatm~ to the nssuance of said policy is incorporated by rcfe~nce into this Ordinance end made a pan
hereof for all purposes, notwithstand,ng any other provision of this Ordinance to the contrary
Section21 APPROVAL AND REGISTRATION OF CERTIFICATES That the Director
of Fiscal Ser~ices is hereby authorized to have control ofthe Certificates and all necessa~ records
and proceedings pertaining to the Certzficates pending their delivery and their investigation,
examination and approval by the Attorney General of the S~ate of Texas, and their registration by the
Comptroller of Public Accounts of the State of Texas Upon registrataon of the Certificates, the
Comptroller of Public Accounts (or a deputy designated in writing to act the~for) shall manually sign
the Comptroller's Restoration Centficate The Certificates thus registered shall remain in the custody
of the Cit~ Manager (or the designee thereof) until delivered to the Underwnters
17
Section 22 FURTHER PROCEDURES That the Mayor, the City Seermry, the City
Manager, the Director of Fmcai Services, any Assistant City Manager, and all other officers,
employees, and agents of the City, and each of them, shall be and they are hereby expressly
authorized, empowered, and di~cted from time to time and at any tim~ to do and perform all such
acts and thiags and to execute, acknowledge, and deliver in the name and under the corporate seal
and on bchaifof the City all such instruments, whether or not herein mentioned, as may be necessatT
or desirable in order to cant out the terms and provisions of this Ordinance, and the sale and dehvery
of the Certificates and fixing all details in connection therewith
Section 23 USE OF PROCEEDS That the proceeds from the sale of the Certiflcetes shall
be used in the manner described in a letter ofinstructmns prepared by the City or on behalf of the City
by the City's financial advisor The foregnin8 nntwithstanding, proceeds represeotin~ acerued interest
on the Certificates shall be deposited to the credit ofthe lnte~st and Sinking Fond, and proceeds
representing premium on the Bonds shall be used in a manner consistent with the provisions of
Section 1201.029. Texas Government Code Any amounts remainiag afrer completion of the
improvements described in Section 1 herenf shall be transferred FIRST to the Rebate Fund. to the
extent required by Section 13 hereof, and THEREAFTER to the Interest and Sinkiag Fund
Section 24 INTEREST EARNINGS That the interest earnings derived from the investment
of proceeds from the sale of the Certificates may be used alonS with other proceeds for the
construction of the p~..,anent improvements set forth in Section I hereof for which the Certificates
are issued, pwvided that after completion of such permanent improvements, if any of such interest
earnings remain on hand, such interest earnings shall be deposited in the Interest and Sinkiag Fund
It is further provided, however, that any interest eamiags on proceeds which am required to be
rebated to the United States of America pursuant to this Ordinance herenfin order to p~-vent the
Certificates from being arbitrage bonds shall be so rebated and not considered as interest earnings for
the purposes of this Section
Section 25. FREAMBLE That the preamble to this Ordinance is incorporated by reference
and made a part hereof f~r all purposes
Section 26 MISCELLANEOUS PROVISIONS (n) TttlesNotRestricttv~ That the titles
assigned to the various sections of this Ordinance are for convenience only and shah not be
considered restrictive of the subject matter of any section or of any part of this Ordinance
Co) Rul~s of Constructton The words "herein", "hereof and "hereunder" and other words
of similar import refer to this Ordinance as a whole and not to any particular Section or other
subdivision Except where the context otherwise requiros, terms dMined in this Ordinance to impart
the singular number shall be considered to include the plural number and vice versa References to
any named person means that party and its successors and assigns References to any constitutional,
statutory or reStdatory provision means such provision es it exists on the date this Ordinance is
adopted by the City and any future amendments thereto or successor provisions thereof Any
refl,-rence to *FORM OF CERTIFICATE" shall refer to the form of the Certificates set forth in
IS
Exhibit A to this Ordinance Any reference to the payment of principal in this Ordinance shall be
deemed to include the payment of any mandatory sinking fund redemption payments as may be
described beton
(c) Inconsistent Provisions All orders end resolutions, or pans thereof, which are in conflict
or inconsistent with any provision of this Ordinance are hereby repealed and declared to be
inapplicable, end the provis,ons of this Ordinance shall be and remain controlling as to the matters
prescribed herein
(d) SeverabdtO~ If any word, phrase, clause, paragraph, sentence, part, portion, or provision
of this Ordinance or the application thereof to any person or drcomstance shall be held to be invalid.
the remainder of this Ordinance shall nevertheless be valid end the City hereby declares that this
Ordinar~e would have been enacted without such invalid word, phrase, clause, paragraph, sentence,
part, portion, or provisions
(e) GowrningLaw This Ordinance shall be construed end enforced in accordance with the
laws of the State of Texas
(0 Open Meeting The City officially finds end determines that the meeting at which this
Ordinance ts adopted was open to the public, and that public notice of the time, placa, and purpose
ofsuch meeting was given, all as required by Chapter 551, Texas Government Code
(g) Apphcatton of Chapter 1208, Government Code Chapter 1208, Texas Government
Code, applies to the issuance of the Certificates and the pledge of ad valorem taxes and the Surpim
Revenues granted by the City under Sections 8 and 9, end such pledge is therefore valid, effective,
and perfected If Texas law is emended at any time while the Certificates are outstanding end unpaid
such that the pledge of the ad valorem taxes end Surplus Revenues granted by the City is to be
subJeCt to the firing requirements of Chapter 9, Texas Business & Commerce Code, then in order to
presage to the Registered Owners of the Certificates the perfection of the security interest in said
pledge, the City agrees to take such measures as it determines ere reasonable end necessary under
Texas law to comply with the applicable provisions of Chapter 9, Texas Business & Commerce Code
end enable a filing to perfect the security interest in said pledge to occur
(h) Immediate Effect In accordance with the provisions of Seodon 1201 028, Texas
Government Code, this Ordinance shall be effective immediately upon its adoption by the City
Councal
19
PASSED AND APPROVI~D this April 29, 2004
Ci;y .%cr~av/, City of'College Station, Texas
(CITY SEAL)
APPROVED
Mc, C~il, Parkhum & Hor~on L L P
Bond Counsel
2O
Ezhlbit A
to
Ordinance
FORM OFCERTIFICATR
NO
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF BRAZOS
CITY OF COLLEGE STATION, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 2004
~ IIVI~REST RATE ORIGINAL ISSUE DATR CUS~
% MAY 1, 2004
ON THE MATURITY DATE SPECIFIED ABOVE, THE CITY OF COLLEGE STATION,
TEXAS, in Brazos County (the "City" or the "Issuer"), being a political subdivision of the State of
Texas, hereby promises to pay to , or to the
registered assiguee hereof(either bein~hereinafter called the "registered owner") the principal amount
of
DOLLARS
and to pay interest thereon, from the Origlnai Issue Date specified above, to the Maturity Date
specified above, or the date of its redemption prior to scheduled maturity, et the interest rate per
annum specified above, with said interest payable on February 15. 2005, and semiannually on each
August 15 and February 15 thereafter, except that if this Certificate is required to be authenticated
and the date of its authentication is later than February 15, 2005, such interest is payable semiannually
on each August 15 and February 15 following such date
TH~ PRINCIPAL OF AND INTEREST ON this Cemficate are payable in lawful money of
th.e United States of America, without exchange or collection charges At maturity or redemption
prior to maturity, the principal ofthis Certificate shall be paid to the registered owner hereof upon
presentation and surrender of this Certificate at the desiguated corporate trust office in Dallas, Trams
(the 'Designated Trust Office") ofJPMorgan ChaseBauk, which is the "Paying A8enffRegistrar" for
this Certificate The payment of interest on this Certificate shall be made by the Payin8
Agent/Registrer to the registered owner hereof on each interest payment date by check, dated as of
such interest payment date, drawn by the Payin8 Agent/Registrar on, and payable solely from, funds
of the Issuer required by the ordinance authonzin~ the issuance of this Certificate (the "Certificate
Ordinance") to be on depostt with the Palan8 Agent/Registrar for such purpose as hereinafter pro-
vlded, and such check shall be sent by the Paym~ Agent/Registrar by United States mail, first-class
postagu prepaid, on each such interest payment date, to the resistered owner hereof, at its address
as it appeared on the last business day of the month precedmff each such date (the "Record Date")
on the Registration Books kept bythe Paying Agant/Registrar, as hereinatter described Any accrued
interest due at maturity as provided herein shall be paid to the registered owner upon presentation
and surrender of this Certificate for payment at the Designated Trust Office of the Paying
Agent~strar The Issuer covenants with the registered owner ofthis Certificate that on or hefore
each principal and interest payment date for tlis Certificate it will make available to the Paying
Agent/Registrar, from the "Interest and Sinking Fund" created by the Certificate Ordinance, the
amounts required to provide for the payment, in immediately available funds, ofall princspal of and
interest on the Certificates, when due
IN THE EVENT OF NON-PAYMENT of interest on it scheduled payment date, and for 30
days thereafter, a new record date for such interest payment (n "Special Record Date") will be
established by the Paying Agent/Registrar, if and when fonds for the payment of such interest have
been received from the Issuer. Notice of the Special Record Date and ofthe scheduled payment date
ofthe past due interest ("Special Payment Date", which shall be 15 days aRer the Special Record
Date) sludi be sent at least five business days prior to the Special Record Date by United States mail,
first-class postage prepaid, to the address of each resistered owner of a Certificate appearing on the
Registration Books kept by the Paying Agent/Registrar at the dose ofbuainass on the last business
day next preceding the date of mailing o£such notice
IF THE DATE for the payment of the principal of or interest on this Certificate shall be a
Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the
Designated Trust Office of the Paying Agant/Rngistrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next succeeding day which is not such a
Saturday, Sunday, Ingal holiday, or day on which banking institutions a~ authorized to close, and
payment on such date shall have the same force and effect as if made on the original date payment
was due
THIS CERTIFICATE is one ora Series of Cert~flcates dated as of the Original Issue Date
stated above, authorized in accordance with the Constitution and laws of the State of Texas in the
principal amount of $9,315,000, for the purpose ofpaying contractual obligations to be incurred by
the City, to-wit, the conatmetion ofimprovements as described in the Certificate Ordinance, and the
payment of fiscal, engineering and legal fees incurred in connection therewith
ON FEBRUARY 15, 2013, or on any dale thereaRer, the Certificates ofthis Series maturing
on February 15, 2014 and thereafter may be redeemed prior to their scheduled maturities, at the
option of the Issuer, ~n whole, or,n part, at par and accrued interest to the date fixed for redemption
The years of maturity of the Certificates called for redemption at the option of the City prior to stated
maturity shall be selected by the City The Certificates or portions thereof redeemed within a raaturity
shall be selected by lot or other method by the Paying Agent/Registrar,/~rov~ded. that during any
pariod in which ownership of the Certificates is determined only by a book entry at a securities
depository for the Certificates, ii'fewer than all of'tho Certificates ofthe same maturity and bearing
.the same interest rate are to be redeemed, the particular Certificates of such maturity and beating such
interest rate shall he selected in accordance with the arrangements between the Issuer and the
securities depository
AT LEAST 30 days prior to the date fixed for any such redemption, a written notice of such
redemption shall be given to the regtste~d owner of'each Certificate or a portion thereofheing called
for redemption by depositing such notice in the United States mail. first class postage prepaid.
addressed to each such registered owner at his address shown on the Registration Books of'the
Paying A~.nt/Re~strar By the date fixed for any such redemption due provision shall be mede by
the Issuer with the Paying Agent/Registrar for the payment of the required redemption price for this
Certificate or the portion hereofwhich is to be so redeemed, plus accrued interest thereon to the date
fixed for redemption If'such notice of'redemption is given, and it'due provtsion for such payment
is made. all as provided above, tins Certificate, or the portion hereof winch is to be so redeemed.
thereby automatically shall be redeemed prmr to its scheduled maturity, and shall not bear interest
aRer the date fixed for its redemption, and shall not be regarded as being outstanding except for the
right of the registered owner to receive the redemption price plus accrued interest to the date fixed
for redemption from the PaymS Agent/Registrar out of the funds provided for such payment The
Paying Agent/Registrar shall record in the Registration Books all such redemptions of principal of
this Certificate or any portion hereof Ifa portion of any Certificate shall be redeemed a substitute
Certificate or Certificates having the same nmtunty date. bearing interest at the same rate. in any
denomination or denominations in any integral multiple of $5.000. at the written request of the
registered owner, and in aggregate principal amount equal to the unredeemed portion thereof, will
be issued to the registered owner upon the surrender therenf for cancellation, at the expense of the
Issuer. aH as provided in the Ordinance
ALL CERTIFICATES OF THIS SERIES are issuable solely as fully registered certificates.
without interest coupons, in the denomination of any integral multiple of $$.000 As provided in the
Certificate Ordinance. tins Certificate may. at the request of the registered owner or the assignee or
assignees hereof, be ass,gned, transferred, and exchanged for a like aggregate principal amount of
fully registered ce~ificates, without interest coupons, payable to the appropriate registered owner.
assignee, or assignees, as the case may be. having the same maturity date. and bearing interest at the
same rate. in any denomination or denonunations in any integral multiple of $$.000 as requested in
writing by the appropriate registered owner, assignee, or assignees, as the case may be. upon
surrender of this Certificate to the Paying Agent/Registrar at its Designated Trust Office for
cancellation, all in accordance with the form and procedures set forth in the Certificate Ordinance
Among other requirements for such assignment and transfer, tins Certificate must bo presented and
sun~ndered to the Paying Agent/Registrar at ~ts Designated Trust Off, ce. to~ether with proper
instruments of assignment, in form and vath suaranten of signatures satisfactory to the Paying
Agent/Registrar. evidencing assignment of th~s Certificate or any portion or portions hereof in any
intngral multiple of $5.000 to the assignee or assignees in whose name or names this Certificate or
any such portion or portions hereof is or are to be transferred and registered The form of Assign-
ment pnnted or endorsed on this Certificate may be executed by the registered owner to evidence the
assignment hereof, but such method is not exclusive, and other instruments of assignment satisfactory
to the Paying Agent/Registrar may be used to evidence the ass~gement of this Certificate or any
portion or portions hereoffrom time to t~me by the registered owner The foregoing notwithstanding.
in the case of the exchange of an assigned and transferred Certificate or Certificates or any portion
or portions thereof, such fees and charges of the Paying Agent/Registrar will bo paid by the Issuer
The one requesting such exchange shall pay the Paying Agent/Rcgistrar's reasonable standard or
customn~ fees and charges for exchnnging any Certificate or portion thereof In any circumstance.
any t~.xes or governmental charges required to be paid with respect thereto shall be paid by the one
requestin~ such aseigement, transfer, or exchanse as a condition pr_~__~d_ent to the exercise of such
privilege In any circumstance, neither the Issuer nor the Payin~ A~ent/Rngistrer shell be required
(!) to nmke any transfer or exchange during a period beginning at the openin~ of business 30 days
before the day of the first mailing ora notice ol'redemption of'Certificates and ending at the close of
business on the day of such mailing, or (2) to transfer or exchanse any Certificates so selected for
redemption when such redemption is scheduled to occur within 30 calendar days
WHENEVER the beneficial ownership of this Certificate is determined by a book entry at a
securities depository for the Certificates, the foregoing requirements of holding, delivering or
transferring this Certificate shall be modified to require the eppropnete person or entity to meet the
requirements of tb.e securities depository as to registenng or transferrin8 the book entry to produce
the same effect
IN THE EVENT any Paying AsenC/Re~strer for the Certificates is changed by the Issuer,
ren~ns, or otherwise ceases to act as such, the Issuer has covenanted in the Certificate Ordinance that
it promptly will appoint a competent and legally qualified substitute therefor, and promptly will cause
written notice thereof to be mailed to the registered owners of the Certificates
IT IS HEREBY certified, recited and covenanted that this Certificate has been duly and
vahdly authorized, issued, and delivered, that ail acts, conditions, and ~J~nss required or proper to be
performed, exist, and be done precedent to or in the authoriza~on, issuance, and delivery of this
Certificate have been performed, existed, and been done in accordance with law, that ~s Certificate
is a direct obllgetion of said Issuer, issued on the full faith and credit thereof, and that annual ad
valorem taxes sufficient to provide for the payma~t ofthe interest on and principal of this Certificate,
as such interest comes due and such principal matures, have been lewed and ordered to he levied
ngeinst all taxable property m said Issuer, and heve been pledged for such payment, within the limit
prescribed by law, and that a hn~ted pledge (not to exceed $1,000) of the surplus revenues from the
operation ofthe City's combined municipal electric hght and power, waterworks and sewer system
remainm~ nfrer payment of ail operation and maintenance expenses thereof and any other obli~tions
heretofore or hereafter incurred to which such revenues have been or shall he encumbered by a lien
on and pledge of such revenues superior to the lien on and pledge of such revenues to the Certificates,
have been pledged as additional security for the Certificates
BY BECOMING the reStstered owner of this Certificate, the re~ste~d owner thereby
acknowledges all of the terms and provisions of the Certificate Ordinance, agrees to be bound by such
terms and provisions, acknowledges that the Certificate Ordinance Is duly recorded and available for
inspection in the official minutes and records of the Issuer, and asrees that the terms and provisions
offs Certificate and the Certificate Ordinance constitute a contract between each registered owner
hereof and the Issuer.
IN WITNESS WHEREOF, this Certificate has been sisned with the manual or facsimile
si~.ature of the M~tyor of the City, nt~ested by the manual or fttcsimile siiptature of the City Secreuuy,
and the of~cial seal of the Issuer has been duly nffixed to, or unpressed, or plat. ed in f~tcsirnile, on this
Certificate.
xxxxx
City Seoreta~y
City of College Station, Texas
Mayor
City of'College Station, Texas
(SEAL)
FORM OF PAYfNG AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
PAYING AGENT/REGiSTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this Cert,ficate ot'Obl~,ation has been issued under the provisions
oftha procaedlngs adopted by the City as described in the text of this Certificate of Obligation, and
that this Certificate of Obhgation has been issued in exchange for or replacement of a certificate of
obligation of an issue which originally was approved by the Attorney General of the State of Texas
and rei~stered by the Comptroller of Pubhc Accounts of the State of'Texas
Da~ed
JPMORGAN CHASE BANK,
Paying Agent/Registrec
By.
Authorized Representative
*FORM OF COIVIFrROLI-~R'S CERTIFICATE ATTACHED TO
THE CERTIFICATES UPON INITIAL DI~LIVERY THEREOF
OFFICE OF COMPTROLLER
STATE OF TEXAS
REGISTER NO
I hereby certiBy that there is on file and of record m my office a cerUficate of the Attorney
General of thc State of Texas to the effect that this Ce~ificato has been examined by him as required
by law, and that he finds that it has been issued in conformity with the Constitutton and laws of the
State of Texas, and that it is a vahd and binding oblisa~ion of the City of Collese Statmn, Toxas,
payable in the manner provided by and in the ordinance authorizing samc, and said Ce~ificat¢ has this
day been registered by me
WITNESS MY HAND and se, al of offic~ a~ Austin, Texas this
(SEAL)
Comptroller of Public Accounts of
the State of Texas
NOTE'*'{ to accompany initial certificates only
FORM OF ASSIGNMENT
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned het~oy sells, assisns and transfers unto
(Please insert Social Secunty or Taxpayer ldenuflcation Number of Transferee)
/ /
(Please print or ~powdte name and address, inclu&ng zip code of Transferee)
the within Certificate of Obligation and all rights thereunder, and hereby irrevocably constitutes
and appoints attorney to
register the transfer of the within Certificate of Obligation on books kept for registration thereof,
with full power of substitution in the prermses
Da~ed
Signature Guaranteed
NOTICE Signature(s) must be ~uarantend
by a member finn of the New York Stock
Exchanse or a commercial bank or trust
company
NOTICE Thn signature above must
correspond with the name of the Registered
Owner as it appears upon the front ofthis
Certificate in every particular, without
alteration or enlargement or any change
whatsoever
Exhibit B
to
Ordinance
DESCRll)TION OF ANNUAL FINANCIAL INFORMATION
The following information is referred to m Seotlon 18 of tins Ordinance
Annum FinnnciM Statements and Operating Data
The financial information and operating data with respect to the City to be provided annually
in accordance with such Section are as specified below (and included in the Appendix or under the
headings of the Oilioial Statement referred to)
I The "Aucht Report" for the most recently concluded fiscal year
2 The information included in the Official Statement under the following captions, but for
the most recently concluded fiscal year. Tables I through 6 and 8 throush 13, and AppandLx B
Accounting Principles
The accounting principles referred to in such Section are the accounting principles described
in the notes to the financial statements referred to in parasraph i described above, as such principles
may be changed from time to time to comply with state law or regulation
ADDff[ONAL RESOURCES
UTIUTY REVENUE BONDS
INTEREST ON INVESTMENTS
TRANSFERS FROM OPERATIONS
~ GOVERNMENTAL
OTHER
SUBTOTAL ADDfHONAL RESOURCES
TOTAL RESOURCES AVAILABLE
REHABILITATION PROJECTS
COLLECI'ION SYSTI~I P~r. HA~
CARTEI~ CREEE SCi~W uFr SYS'IEM
FERST & MAPLE SIREETS REHAB
HENSEL PARK LIFT STATION
UFT STATION e2 FORCEMA]N REAUGNMEKT
HUN 30 TURNAROUND
'TEXAS AVE P, ELOCATION SOUTH
SOUTHSIDE SEWER UPGRADE A
WEST PAR~
COLLEGE PARK/Bm:~Ty HEIGHTS
SOUTH KNOLL
SOUTHWOOD 5-7
McCULLOCH
THE KNOLL
CLOSED PROJECTS
SUBTOTAL
CO~ ] ~CTION
OVERSIZE P/~TICIPA'I1ON & PLANNING
NORTHEAST TRUNK EXPAN PHASE I
DARTMOUTH PI-hi
JONES-BLrrLER WASTE'WATER EX'I13~SION
GEORGE BUSH DR EAST W~i~IING
SS0209
TBD
SS0212
SS0203
SS0207
SS0003
TOTAl.
ESTIMATED PROJEc,~ ~
FY 02-03 FY 03-04
6 440 563 $ 3,351.213
0 $ 4,000,000
30O,0O0 100,0O0
o 0
0 270,0OO
0 0
300,000 $ 4,370,0O0
6~740,5~3 ~ 7,721~213
$ 2O5 00O $ 285.000
290,400 667.920
77.000 0
371,000 0
0 300.000
147,0O0 0
540,000 1,010,0O0
80,000 0
0 1,500.00O
0 0
0 0
0 0
0 0
0 0
$ 1,710,400 $ 3,762,920
SS0200 250,000 250.000
SS9702 0 0
SS9805 300,00O 0
TBD 0 50,000
TBD 2,500 30,000
ST9804 0 12,000
~ Ill'ACT FEE
UFT STAT[ON #1 GRAVITY UN£
liCK CREE~ pAR.A~ ~ m TRUNK LINE
MATERIAL STAGING STORAGE AREA - USC
CLOSED PROJECTS
SUBTOTAL
UCK CREEK TRUNK & PLANT EXPANSION
ODOR CONTROL
SLUDG~ PROCESSING IMPROVEMENTS
CC PLANT DEMO & MAINT BLDG
WASTEWATER PLANT SECURr~
~ PAVEMENT/REPAIRS IMP
CLOSi~ PRO,rr. CTS
SS9806
S59810
5S9904
SS0204
SS0105
6,550 1,000,000
0 35,000
0 0
0 77.000
0
$ 559~050 $ 1,454~000
45.5.ooo $ o
62.000 0
0 466,000
100.000 150,000
0 210,000
0 330,000
0 215,000
0 0
SUBTOTAL ~ 617~000 } 113711000
ANNEXATION PROJECTS
~ T P, ORN RD N OF GANDY (AREA 1)
GREI~S PR W OF ARRINOTON {AREA ~
NflNTUCF~ET E OF HARPER'S FERRY (AREA 3}
ROCK P RD S OF CARTER LAKE (AREA 5)
GREENS PR RD CORRIDOR EAST (AREA 6)
CLOSED PROdECTS
GENERAL ~ ADI~NISTRATIVE
DEBT ISSUANCE COST
TBD 61,800 30,900
TBD 36,000 324,000
'TBD 20,100 180,900
TBD 0 0
'I'BD 0 0
117,900 !~ 535~800
0 0
325,000 200,000
60,000 20~000
3~3891350 $ 7~343~720
ENDING FUND BALANCE:
~ 3~351~213 $ 377~493
- T~ projects will Ix~ r(dmhu~sed I~ ~pact ~ee~
Project Budpt Trmnsfem
5OUTHSIDE ~ U~ A
W'F0379101
Budget Transfer m Process
CI,0SED W s ~'nGI~ID
I ACADEMY ~ REHAB
CREAGER PEBBLETHiLLS PH Il
EASTGATE PH Il&ill
EASTGATE PH IV
GlO, dAM RD IMPACT FEE
NORTHGATE REHAB
NORTHF-AST 1RUNKI..~IE PH IU
[&l REDUCTION
SOLrlHS~E REHAB PHI
SS0205
SS9902
SS9903
SS0102
SS9802
SS9804
SS0202
SS0007
2 ACADEMY SL~R REHAB
EASTGATE PH Il&IH
[&l REDUCI1ON
SS0205
SS9903
SS0102
SS0007
3 NORTHr~ST TRUNKLINE PH In
SOUI~ISID£ REHAB PHI
i~1 REDUCTION PROG~AIq
SS0t~7
4 CREAGI~BLE HILLS PHIl
~ RD IMPACT FEE
NORTHEAST TRUNKLINE PH III
5599O2
559802
.559902
6 ~ CP.~EK BLDG
7 CA~TEP~ C'RF.F~ BLDG
8 CAR'rI~5 CREI~ BLD(3
550105
.550105
5.50105