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Home My WebLink AboutRES 032415-G - CO Bond IssueTHE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF GEORGETOWN I We, the undersigned officers and members of the City of Georgetown, Texas (the "City"), hereby certify as follows: I . The City Council of the City convened in REGULAR MEETING ON THE 24TJN DAY OF MARCH, 2015, at Council Chambers, 101 E. 7th Street, Georgetown, Texas (the "Meeting"), and the roll was called of the duly constituted officers and members of the City, to - wit: Dale Ross , Mayor Rachel ionrowe, Mayor Pro Tem, Councilmember District 6 Patty Eason, Councilmember District 1 Keith Brainard, Councilmember District 2 John Hesser, Councilmember District 3 Steve Fought, Councilmember District," Jerry Hammerlun, Councilmember District 5 Tommy Gonzalez, Councilmember District 7 and all of the persons were present, except the following absentees: none, thus constituting k9 quorum. Whereupon, among other business, the following was transacted at the Meeting: written i I I i I a I I'll I I I I NIM"11111MV1 IIA p- I I I I I I rim N 114 V 13 Effill V KIM al A % % I . t was duly introduced for the consideration of the City Council. It was then duly moved seconded that the Resolution be passed on first reading; and, after due discussion, said i'. t:: carrying with it the passage of the Resolution, prevailed and carried by the following vote - 2. A true, fall and correct copy of the Resolution passed at the Meeting described in the above and foregoing paragraphs is attached to and follows this Certificate; that the Resolution has been duly recorded in the City Council's minutes of the Meeting; that the above and foregoing paragraphs are a true, fall and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage of the Resolution; that the persons named in the above and foreaoi d acting officers and members of the City ini i2arawlis are the duli chosen, alified an Georgetown\CO\2015: NoticeResCert and sufficiently notified officially and personally, in advance, of the time, place and purpose of the Meeting, and that the Resolution would be introduced and considered • passage at the Meeting, and each of the officers and members consented, in advance, to the holding of the Meetings for such purpose, and that the Meeting was open to the public and public notice of the time, place and purpose • the meeting was given, all as required ■ Chapter 551, Texas Government Code. 3. The Mayor of the City has approved and hereby approves the Resolution; that t Klayor and the City Secretary of the City have duly signed the Resolution; and that the � y and the City Secretary of the City hereby declare that their signing of this Certificate s constitute the signing of the attached and following copy of the Resolution for all purposes. 1 Georgetown\CO\2015: NoticeResCert City te retary V--4 - Georgetown\CO\2015: NoticeResCert I Mayor A IN W51, Ira of Oka I 101 Efty I WIM ILI THE STATE OF TEXAS § CITY OF GEORGETOWN § COUNTY OFWILLIAMSON § WHEREAS, the City Council (the "Council") of the City of Georgetown, Texas (the "City") has determined that it is in the best interest of the City to proceed with the issuance of certificates of obligation ("Certificates") to implement certain of the City's capital improvement programs; and WHEREAS, the City Council of the City finds that the payment in whole or in part of contractual obligations incurred or to be incurred for the purposes set forth in Exhibit "A" attached hereto (the "Contractual Obligations") would be beneficial to the inhabitants of the City and are needed to perform essential City functions; and WHEREAS, the Council has deemed it advisable to give notice of intention to issue the Certificates in a maximum principal amount not to exceed $14,000,000 pursuant to the provisions of the Certificate of Obligation Act of 1971, Section 271.041 et seq., Local Government Code (the "Act") for the purpose of financing the Contractual Obligations; and WHEREAS, prior to the issuance of the Certificates, the City is required under the Act 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 tentatively set for the passage of the ordinance authorizing the issuance of the Certificates, (ii) the maximum amount and purpose of the Certificates to be authorized, and (iii) the manner in which the Certificates will be paid; and WHEREAS, the meeting at which this Resolution is adopted was open to the public and public notice of the time, place and purpose of the meeting was given, all as required by Chapter 551, Texas Government Code, as amended. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: 1. Attached hereto as Exhibit "A" is a form of the Notice of Intention to issue the Certificates, the form and substance of which is hereby adopted and approved. 2. Bond Counsel to the City shall cause the notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the City, for two consecutive Georgetown\CO\2015: Notice Res weeks, the date of the first publication to be at least 30 days prior to the time set for the final passage ofthe ordinance authorizing issuance of the Certificates as shown in the notice. 2. The City Council hereby finds that the issuance of the Certificates complies with the Vision Statement of the City of Georgetown. 3. The Chief Financial Officer, financial advisor and bond counsel to the City are authorized to proceed with preparing the necessary bond and offering documents to effectuate the sale of the Certificates including making application to appropriate rating agencies and bond insurers, if applicable. 4. This Resolution shall become effective immediately upon adoption. The Mayor and City Secretary are hereby authorized and directed to execute the certificate to which this Resolution is attached on behalf of the City, and the Mayor, City Secretary and City Manager are further authorized to do any and all things proper and necessary to carry out the intent of this Resolution. Georgetown\CO\2015: Notice Res F.,Vv#mm .less ea City Secretary Dale Ross, Mayor FIVI Q UV Q&ffl CN" firidget Chapm&, Citttomey Gcorgetown\CO\2015: Notice Res Sigpg I 12112tj plaugg DIA-113LWANNag lump -.1muryn-jumn NOTICE IS BEREBY GIVEN that it is the intention of the City Council of the City of Georgetown, Texas, to issue one or more series of tax-exempt and taxable interest bearing certificates of obligation of the City entitled "City of Georgetown, Texas Combination Tax and Revenue Certificates of Obligation," for the purpose of paying contractual obligations incurred or to be incurred by the City for (1) constructing, improving, extending, expanding and upgrading City sidewalks, including purchasing any necessary right-of-way and equipment; (2) constructing, improving and equipping airport facties including, runway improvements and fuel farm; (3) constructing, improving, upgrading and equipping City park and recreational buildings and facilities, including Williams Drive Pool and Splash Pad; (4) constructing, improving, extending, expanding and upgrading the City's storm water drainage facilities, including Smith Branch remediation program; (5) constructing, improving, renovating, expanding and equipping City buildings and facilities includinthe Westside Service Center; (6) purchase of vehicles and 9 equipment; (7) constructing, improving, extending, expanding and equipping the Summit at ]!,7ih&tffg tw7-ta ?rri and (8) professional services including fiscal, engineering, architectural and legal fees and other such costs incurred in connection therewith including the costs of issuing the Certificates. The City Council tentatively proposes to consider for first and final reading at a meeting to commence at 6 o'clock, pm., on the 12th day of May, 2015 at Council Chambers, 101 E. 7th Street, Georgetown, TX, 78626, the passage of an ordinance authorizing such Certificates of Obligation which ordinance shall be entitled "ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF GEORGETOWN, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2015; LEVYING AN AD VALOREM TAX AND THE PLEDGE OF CERTAIN REVENUES IN SUPPORT OF THE CERTIFICATES; APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT AND OTHER AUTHORIZING OTHER MATTERS RELATED TO THE ISSUANCE OF THE CERTIFICATES." The maximum amount of Certificates of Obligation that may be authorized for such purpose is $14,000,000. The City Council presently proposes to provide for the payment of such Certificates of Obligation from the levy and collection of ad valorem taxes in the City as provided by law and from the surplus revenues of the City's utility system in an amount not to exceed $10,000, being the combined waterworks, sewer and electric system, remaiming a er payment of all operation and maintenance expenses thereof, and all debt service, reserve and other requirements in connection with all of the City's revenue bonds or other obligations (now or hereafter outstanding) which are payable from all or any part of the net revenues of the City's utility system. Georgetown\CO\2015: Notice Res A-1