HomeMy WebLinkAbout1-24-02-12.13 - Resolution - 01/24/2002 RESOLUTION NO. 1 - 24 2002 - 12.13
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF COLLEGE
STATION, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, SERIES 2002; 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 substantially the
form attached hereto, in the Bryan- College Station Eagle, a newspaper of general circulation in the
City of College Station, Texas, for two consecutive weeks, the date of the first publication to be
before the fourteenth 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 the attached Notice
of Intention.
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
'4,, 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 THIS 24th day of January, 2002.
Lynn DIlhaney, Mayor
ATTEST:
Connie Hooks, City Secretary (Seal)
APPROVED:
eau /./. P
Bond ounsel
410
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, acquisition of vehicles, computer
equipment and other equipment for use by City police, fire and administrative departments; street
improvements to Greens Prairie Road, University Drive, the Dartmouth Road extension and the
Barron Road overpass; the construction of a Municipal Courts Building at 300 Krenek Tap Road;
the construction of sidewalks, pedestrian bridges and hiking trails along Wolf Pen Creek between
Texas Avenue and the Highway 6 Bypass; the acquisition of land for a City Center complex; the
reconstruction of Fire Station #1; and the payment of fiscal, engineering and legal fees incurred in
connection therewith.
The City Council tentatively proposes to authorize the issuance of said series (one or more)
of Certificates of Obligation at its regular meeting place in the City Hall at a meeting to commence
at 7 o'clock, p.m., on the 28th day of February, 2002. The maximum amount of Certificates of
Obligation indebtedness that may be authorized to be sold on said date for such purposes described
above is $15,200,000. The City Council presently proposes to provide for payment of said series
(one or more) of Certificates of Obligation from the levy of taxes and from a limited surplus revenue
pledge (not to exceed $1,000) derived from the operation ofthe City's electric, waterworks and sewer
systems.
CITY OF COLLEGE STATION, TEXAS
/s/ Lynn Mcllhaney
Mayor
Oirme
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS •
COUNTY OF BRAZOS •
CITY OF COLLEGE STATION
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 24TH DAY
OF JANUARY, 2002, at the designated meeting place, and the roll was called ofthe duly constituted
officers and members of said City Council, to wit:
Lynn McIlhaney, • Mayor
Larry Marriott, • Mayor Pro -Tem
James Massey,
Winnie Garner, •
Ron Silvia, • Councilmembers,
Dennis Maloney,
S ki Anne Hazen, •
Connie L. Hooks, • City Secretary
and all of said persons were present, except the following absentees: Mariott , thus constituting
a quorum. Whereupon, among other business, the following was transacted at said Meeting: a
written
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS, DIRECTING PUBLICATION
OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF
OBLIGATION, SERIES 2002; AND PROVIDING AN
EFFECTIVE DATE
was duly introduced for the consideration of said City Council and read in full. It was then duly
moved and seconded that said Resolution be passed to second reading; and, after due discussion, said
motion prevailed and carried by the following vote:
AYES • 6
NOES : 0
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
%by 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 first reading 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 THE 24TH DAY OF JANUARY, 2002.
-0.41Akt L.77-1
City Secretary Mayor
(SEAL)