HomeMy WebLinkAbout3-26-98-7c - Resolution - 03/26/1998q sofution
NUMBER: 3-26-98-7c
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
WHEREAS, the City Council (the "City Council") of the City of College Station, Texas
(the "City"), finds that a conference center and the payment of contractual obligations
for professional services in connection therewith (including, but not limited to, financial
advisory, legal, and engineering) would be beneficial to the inhabitants of the City and
such property is needed to perform essential governmental functions, and the City
Council has determined that certificates of obligation (the "Certificates") should be
issued pursuant to the applicable laws of the State of Texas, including Chapter 271,
Texas Local Govemment Code, as amended, for such purposes;
WHEREAS, pdor to the issuance of the Certificates, the City Council is required to
publish notice of its intention to issue the Certificates in a newspaper of general
circulation in the City, the notice stating (I) the time and place the City Council
tentatively proposes to pass the ordinance authorizing the issuance of the Certificates,
(ii) the maximum amount of the Certificates proposed to be issued, (iii) the purposes for
which the Certificates are to be issued, and (iv) the manner in which the City Council
proposes to pay the Certificates;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE C1~'¥ OF
COLLEGE STATION, TEXAS, THAT:
SECTION 1. Attached hereto and marked "exhibit A" is a form of notice, the form and
substance of which are hereby adopted and approved.
SECTION 2. The Mayor or the City Secretary shall cause the notice to be published, in
substantially the form attached hereto, in a newspaper as defined in Section 2051.044,
Texas Government Code, of general circulation in the City for two consecutive weeks,
the date of first publication to be at least 14 days pdor to the date tentatively set for the
ordinance authorizing the issuance of the Certificates.
SECTION 3. The Mayor and the City Secretary are hereby authorized and directed to
execute the Certificate to which this Resolution is attached on behalf of the City Council
and to do any of all things proper and necessary to carry out the intent thereof.
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE is hereby given that it is the intention of the City Council (the "City Council") of
the City of College Station, Texas (the "City"), to adopt an Ordinance providing.for the
issuance of interest~beadng Certificates of Obligation of the City presently
contemplated to be designated and known as the "CITY OF COLLEGE STATION,
TEXAS CERTIFICATES OF OBLIGATION, SERIES 1998" (the "Certificates") in one or
more series with appropriate designations, for the purpose of providing financing for the
design, construction, and construction management for a conference center and the
payment of contractual obligations for professional services in connection therewith
(including but not limited to, financial advisory, legal, and engineering). The City
Council tentatively proposes to authorize the issuance of the Certificates at its regular
meeting place in the City Hall, College Station, Texas, at a Regular Meeting of the
Council to be commenced at 7:00 p.m., on the 23rd day of Apdl, 1998 in an aggregate
amount expected not to exceed $6,000,000. The City Council proposes to provide for
payment of the Certificates from a pledge of an ad valorum tax and Hotel/Motel Tax
revenues.
Lynn~Mcllhaney,' Mayor /
Connie Hooks, City Secretary