HomeMy WebLinkAboutRES 022817-AA - Issue Cert of OblRESOLUTION N0.09a,Q�Jl —A?k
RESOLUTION AUTHORIZING THE PUBLICATION OFNOTICE OF INTENTION TO
ISSUE CITY OF GEORGETOWN, TEXAS COMBINATION TAX AND REVENUE
CERTIFICATES OFOBLIGATION; AUTHORIZING THE PREPARATION OF
OFFERING DOCUMENTS BY SPECIALIZED PUBLIC FINANCE INC. AND
OTHER MATTERS RELATED THERETO
THE STATE OF TEXAS
CITY OF GEORGETOWN
COUNTY OF WILLIAMSON
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 projects 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 $15,425,000 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.
Georgetown\CO\2017! Notice Res
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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
weeks, the date of the first publication to be at least 31 days before the date tentatively set for
passage of the ordinance authorizing 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 Assistant City Manager and the City's Finance Director along with the City's
financial advisor, Specialized Public Finance Inc., and bond counsel are authorized to proceed
with preparing the necessary bond and offering documents to effectuate the sale of the
Certificates and any other public securities of the City anticipated to be sold at or near the time 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\CON2017: Notice Res
RESOLVED this 28th day of February, 2017.
ATTEST:
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Shelley Nowli , ity Secretary
APPROVED AS TO FORM:
Charlie McNabb, City Attomey
Georgetown\C0\2017: Notice Res
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CITY OF GEORGETOWN, TEXAS
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Dale Ross, Mayor
EXHIBIT A
NOTICE OF INTENTION REGARDING CITY OF GEORGETOWN, TEXAS
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
Georgetown, Texas, to issue one or more series of 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) acquiring and
upgrading City radio communication equipment; (2) constructing and installing accessibility
improvements at City buildings and facilities in accordance with the Americans with Disabilities Act; (3)
constructing, improving, renovating, expanding and equipping the Grace Heritage Center at Founders
Memorial Park; (4) acquiring and upgrading public safety vehicles and equipment, including police
vehicles, a fire truck and related equipment; (5) constructing, improving, extending, expanding and
upgrading City sidewalks, including along the frontage road of M-35, including purchasing any necessary
right-of-way and equipment; (6) constructing, improving, renovating, expanding and equipping City
buildings for the Downtown West Project including renovations to existing City buildings for a new City
Hall, Council Chambers and Municipal Court Building; (7) constructing, improving, extending, expanding
and upgrading the City's storm water drainage facilities, including the construction of a storm water
quality pond at the City's Solid Waste Transfer Station; (8) constructing, improving, extending, expanding,
upgrading and developing City streets, bridges, sidewalks, intersections and related traffic improvements
including purchasing any necessary right-of-way and equipment, including for Airport Road; and (9)
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 fust and final reading at a meeting to commence at 6 o'clock, p.m., on
the 25th day of April, 2017 at Council Chambers, 101 E. 7th Street, Georgetown, Texas 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 2017;
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 AGREEMENTS RELATED TO THE SALE AND
ISSUANCE OF THE CERTIFICATES; AND 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 $15,425,000. 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, remaining after 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.
CITY OF GEORGETOWN, TEXAS
Georgetown\CO\2017: Notice Res A-1
CERTIFICATE FOR RESOLUTION NO. 201q- 02.x.917 -#1a
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
CITY OF GEORGETOWN §
We, the undersigned officers and members of the City of Georgetown, Texas (the
"City"), hereby certify as follows:
1. The City Council of the City convened in REGULAR MEETING ON THE 28TH
DAY OF FEBRUARY, 2017, 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
Steve Fought, Mayor Pro Tem, Councilmember District
Anna. Eby, Councilmember District 1
Keith Brainard, District 2
John Hesser, Councilmember District 3
Ty Gipson, Councilmember District 5
Rachel Jonrowe, Councilmember District 6
Tommy Gonzalez, Councilmember District 7
and all of the persons were present, except the following absentees: tJoAII , thus constituting
a quorum. Whereupon, among other business, the following was transacted at the Meeting: a
written
RESOLUTION AUTHORIZING THE PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CITY OF GEORGETOWN, TEXAS COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION; AUTHORIZING THE PREPARATION OF
OFFERING DOCUMENTS BY SPECIALIZED PUBLIC FINANCE INC. AND OTHER
MATTERS RELATED THERETO
was duly introduced for the consideration of the City Council. It was then duly moved and
seconded that the Resolution be passed on first reading; and, after due discussion, said motion
carrying with it the passage of the Resolution, prevailed and carried by the following vote:
AYES:
NOES: O
2. A true, full 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 CounciPs minutes of the Meeting; that the above
and foregoing paragraphs are a true, full and correct excerpt from the City CounciPs minutes of
the Meeting pertaining to the passage of the Resolution; that the persons named in the above and
Georgetown\CO\2017: NotimRmCert
foregoing paragraphs are the duly chosen, qualified and acting officers and members of the City
Council as indicated therein; that each of the officers and members of the City Council was duly
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 for 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 of the meeting was given, all as required by Chapter 551, Texas
Government Code.
3. The Mayor of the City has approved and hereby approves the Resolution; that the
Mayor and the City Secretary of the City have duly signed the Resolution; and that the Mayor
and the City Secretary of the City hereby declare that their signing of this Certificate shall
constitute the signing of the attached and following copy of the Resolution for all purposes.
Georgetown\CO\2017: Noti=ResCert