HomeMy WebLinkAboutORD 81-21 - Authorizing Certificates of Obligation for Airport Improvements161
CERTIFICATE FOR
ORDINANCE AUTHORIZING THE ISSUANCE OF
AIRPORT IMPROVEMENT COMBINATION TAX A14D REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1981, $100,000
THE STATE OF TEXAS
COUNTY OF 4iII.L iAMSON
CITY OF GEORGE_TOWN
We, the undersigned officers of said C.-%ty, hereby
certify as follows:
1. The City Council of said City convened in REGULAR
MEETING ON THE 14TH DAY OF APRIL, 1981, at the City Hall,
and the Loll was called of the duly const: --uted officers ;---)d
members of said City Council, to -wit.
John C. Doerfler, Mayor Lee Fulkes
Jim Colbert, City Secretary Joe At?.inson
Carl Qoering W. C. Shell
Eb Girvin
co
co
and all of said persons were present, except the fo]-lo,•t -ag
absent�.es :
__"
thus constituting a quorum. Whereupon, amor g other.' our5.,nes� . z.•:F_;
following was transacted at said Meeting: a written
ORDINANCE AUTHORIZING THE ISSU.k-NCE OF
AIRPORT IMPROVEMENT COMBINATION TAX A!JD .:�LVI-
C'ER'?"IFTC.ATES OF OBLIGATION, SF.RIF.S 1981, $100, OC'O
was duly introduced for the consiaeratiorl of sa 1.-' ^ +-y
Council and read in full. It was then duly moved and sR' :'I_C c -Ze
said Ordinance be passed; and, after due discussion _-aic?
carrying with it the passage of said Ordinance, prevai-'-=r,' �.
Lly Ll..� foliowili-j VoLe.
AYES: All members of said City Council sho4rxj
present above voted "Aye"'.
NOES: None.
2 - That a true, full and correct copy of
Ordinance passed at the Meeting described A ii t;,)%
foregoiing paragraph is attached to and follows t2i:`. L&:``::1.i
that said C-dinance has been duly recorded in sa.ic !:<.
:minutes of said Meeting; that the above and forecgc:ir,1j P,_ pF
a true, full and correct excerpt fzom said ^ity
of said Meeting pertaining to the passdga of said
the. persons named in the above and foregoing p :ra.gr. ap
duly chosen, qualified and acting officers and membe,,. +;L
City Council as indicated therein; that each c;f the offJ --ers i7,n-':
members of said City Council was duly and sufficiently
officially and personally, in advance, of the time, place zd,
purpose of the aforesaid Meeting, and that said Ordinance would
introduced and considered for passage at said Meeting, and ea..- w -f
said officers and members consented, in advance, to the
said Meeting for such purpose, and that said Meeting was ope i. L,__
the public and public notice of the time, place and' -purpose .a:`. -
meeting was given, all as required :zy Vernon-. -.rn.
Article 6252-17.
3. That the Mayor of said City ha.s approve? a::.(
approves the aforesaid Ordinance; that the M'ayoi ar.�d .i�h r
Secretary of said City have duly sigaen said Ord•,h-.arce;
the Mayor and the City Secratar5: o: s:,.-ice C';. � y' >bex e!� c.ec; l a.'`e " • .. _ .
their Fig_Zing of this Cer. �;.L s .-ate s1,a.i. ccnst.tu- e the s5
the attached and iollowsn,T copv -;f
purposes.
SIG�-ED H.PJD SEALED
�f
`
Jim Colbert, Cit-,, Sec.
:.he 1 v 4 •?'-081,
C-
�1
APPPO`fEli
C:i!-, a ?to -1ey
M
CERT I F I CA:I'E: FOR ORDINANCE
THE STATE OF TEXAS
COUNTY OF WILLIAMSON -
C I TY OF GEORGETOWN
We, the undersigned officers of said C
certify as follows:
1. The City Council of said City canve� Iea ire
MEETING ON THE 4TH DAY OF MAY, 1981, at th:, Ca,;�:,
the roll was called of the duly constitutad orficacl
members of sadd City Council, to -wit:
John C. Loerfler, Mayor Lee Ful UPr
Jim Colbert, City Secretary Joe Ftkisca
Carl oering W. C. Shall
Ed Girvin
and all of said persons were present, exc:eP-: * �e .' I• » isg
absentees: ----- --
taus constituting a quo►_rum. Whereupon,' amoa, a .� ar �*4. °� :•��
the following was transacted at said Meeting: a wi•i �dar
ORDINANCE AUTHORIZING THE ISSUANCE OF
AIR--ORT IMPROVEMENT COMBINATION 'TAX A,1� CERTIFICATES OF OF OBLIGATION SERI--S 14 _,
wiz:s duly introduced for thE,; coY3side ac�.o?: c - -
�:o�.�n�:i.� ?nd read. in ZUII -
�:,-conded t- lat said 01•ninanco� �$,)e pw-,sef=' a=l Sec:
Iea3irg; and after y:.G�1.a10n �4i e
- pa.: sage of said
bv, the o l i.- ,, ing vote:
1 er:3k?�rgi �a - a s«.:E ,w s l
preeent. abo.re mated e`:
2. ��m-t a true, full and ^�� -reci c.op�►
passes: at the Meeting describ,2:�
f -regP1J ng pa,reliraph is attached to and fruillow= -
%hat said Ordinance has been du'•��
-_Ia�14nci .l ° s minutes of said Meeting; 7
r�'7,ng pa-: agraph is a true, full ar.rl cc,rr!F
:
..:Qurcil' s m` l:gab;--e5 of said Veet_.n.
pa_. ja•ga of sz,_d that rho
ar d foreg` ing p r '' C7 •2-�'. ��l.l a f' LJ.SA'
c :land officers and
77 me.abers- of ssid� C'
,;<-ciica�ed tl..erein; that each of the officers , ;,7�iic
;-,icl Ci-ty Council was duly and suffi.c:ien';, . ,<° .fir
�:i.a ply and personally, it advance, of t'�Ie •4 ndZ,K
niirpoaa of the aforesaid Meeting, and +.7azt-
would be introduced and considered for passag::� �.Y s'ss�,•
Meeting, and each of said officers and merehe�7 s
advance, to the holding of said. 11leet .nc for t •;n �_: 2
and that said Meeting was open �o -the p,"'b".a c
�-ot:.-_* of the time, place and pc3rpoFe, ;;f
given; a?,1 as req�ii red by Vernon's A;,in .
252-17.
3 . That the Mayne, of said City h _
approves the aforesai^ Ordinance; L. f� qo-
Secrk-tary of said C ,,y haae d a1�. ; r, �� ... �• :
aj.-jvjl that the. Mayor and the Ci y Ss.,re
j.
hereby declare
iare :hat r.ei s gr,,r.g OFf� �thj s
the iU.',C� �f 'fib a4GaGF:,E'4
AA� SEALS'_-, 4111° ? �-�y Ne Y
SEA",
163
ORDINANCE
AUTHORIZING THE ISSUANCE OF INTEREST
BEARING CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGFTOWN
WHEREAS, the City Council deems it advisable to i'lasue
Certificates of Obligation in the amount of $100,000 for the
purpose of paying all or a portion of the City's contractual
obligations for constructing Hangars at the City's Airport,
and to pay professional fees for engineering, legal; and
fiscal fees in connection with this project; and
WHEREAS, the Certificates of Obligation here inait(.'-
authorized and designated are to be issued and del -",'ere?
for cash pursuant to Article 2368a.1, V.A.T.C.S.; and
WHEREAS, the City Council has heretofore, on the,
day of March, 1981, adopted a resolution �-,.uT_hozi7iriy and.
CD
the city secretary to give notice of intent. i ;,n t
CD
issue Certificates of Obligation; and
issue
(�
WHEREAS, said notice has been duly published it the
Q
Williamson County Sun, which is a newspaper of gene.r7-A c.V1_
Q
culation in said City, in its issues of March 29, 1981 _�%e
April 5, 1981; and
WHEREAS, the City received no petition from the q.--° - i.:;f.
electors of the City protesting the issuance of such C�
cater o:L Obligation; and
WHEREAS, it is considered to be to the beet intara-
the City that said interest bearing Certificates cf
gation of even denominations -in .he amount of 55,00'
issued.
THEREFORE, BE IT ORDAINED BY THE CI°iX O�I1�e�P.1l,
GEORGETOWPx, TEXAS:
1. That the City's Certificate:�& of
called the "C= OF GEORGETOWN AIRS?°>.7-:}" 'MFRO'�EM�:N"i" rJ�,;°'�;
TAX A1v".) REVENUE CERTIFICATES OF GB'i :;:GAT_1CN_ S7r_T
shall h_ is-i__,a under and by virtu-e o':' �`'_~e Ccn: t •'.;
laws of :7a State of Texas, for the purT.)oza of
a porti-)n of the City's contractual cbligatic.:;s for
ing Hangars a,i the City's Airport, and to pay
fees for engineering, legal, and fiscF.1 fees :gin c.-_°1.rLe`
with th_,s project.
2. That said Certificates of Obligation he
dated May 1, 1931 , shall be numbe:cad consec:uti e] y f
upward, shall be Ln th,e denomination of $5 , 000, each, a.-
gregating $1.00, 0')". shall become cue --and cayaLl s o2., I:.: e'
of each of the yeai.- as follows:
F JN''(', _X_� T S
�S.a4
`�, 000
1967
1980
i0, 300
1989
1S,C?J
1990
15 , --)00
1991.
15,000
�992
,5,000
0
164
3 . That said Serias 1981 Certificates ofChl� �at.ir-Yz
scheduled to mature during the years, razpec t,:ivc y;
Forth below shall bear interest at the
annum:
maturities 142 i:hrvtd- 19 � ��..Y"7,z°�
maturitie M9__
throu,i
maturities 19
t1arough
19_
�m
maturities 19__
through
19_.
maturities ? 9_
through
19_,
maturities 19
_
-hrough
19_,
Said interest shall be evidenced by interest; coLipor. r, wti� 1;. ztea 11
appertain to said Series 1981 Certificates of :�;�1 gw"�ic-•�:; w�
which shall be payable in the manner proviued. aiid ors ':,_Y.•� <� �.�s
stated. in the FORM OF CERTIFICATE set fort i in this Ordi,::a"i1� ,
4. That said Series 1981 Certificates of
interest coupons shall '!�)e issued, shall be paYabl�, S1-.a.116 aa-, G the
characteristics and shall be signed and exec-utic, `•an(f.
Certa. f�.cates shall be sealed), all as prov'idr=d ; ai.4ii). ici. 22xi� x
indicated, in the FORM OF C:RTIFICATE set forth in t. is
5. `'hat 'the form of aa:'d Series
Obligation, including the form of Regw:atrat:Ios-n f . ate
>ntipt�-r�llex` of Public Acoouncs of the State
an,- endorsed on each o- said Certificates, and tr:. o:,� t ,e.
C-.foresaid interest: coupons which shall app ..-Lr:ir lxiid 7-
ini :-iz.11y to each of said Certificates, sbal' be,
substantia3 a.y a fellows:
q-)
FORM OF CERTIFICATE
UNITED aTHTES OF AMERICA
STATE OF TEXAS
COUNTY OF WILLIAMSON
C1-Y OF GEORGE'L'0WN
A TRPORT IMPROVEMENT CJc:;F '':`.''"ION TAX AND
CERTIFICATE OF OBLIGATION
SERIES 1981
7TM< JUr,y 1, 3.9 TIDE CITY OF G EORC FTUNi.O ;
:r.SON', 1zTt-=TE OF '?'EXP.S, ��: omi sez to pav
J:�::.I:;.-Icipa.l amount of
FIVE THOUSAND D0r.L.7,P
nd to pay interest ''thereon, From the date
per annum, evidenced by i n'verest coupons payz -).-Lb
1982, and semiannually thereafter, while thip L, ce,:•t<.i7,:7:-
outstanding.
THE' PRINCIPAL of this Certificate of a
interest coupons appertaining hRreto sh€i- t,e osvl;�.-: '' ' �:r•
in 'lawful iaon.:-y of the United LSta-res of w
or c-:)1lact1'on charge �l so 'r:hf; 16--arer, Upon
au^rende-: of t +i �. r.-f-. s'Me z
coy pons at ;:lie -hich Shell ccn. t,i11 '.1t _:d' _ a�
wax 'Peyi ng .'�. tom.^.;_` :. J: thiF ^b ;s 'ai ��ar•t , a.�.es.
C I �' F, �"::�`18 S'1`ATT: Fs��'t� , CF•O F d I��r'��t5:.`i� . '.i; r : �; .
i`.T=^.? a �1F+..�. Y�„ �, 5. �� ..��• W:.�iJ Td ['aL ,i �.. Al �. ... �i�• 'b>:., f ti"T.� a£::�.
165
contractual obligations for constructing Hangars at thF C4.1.)�,
Airport and to pay professional fees for enri.r_eering, J ega .
fiscal fees in connection. with this project.
IT IS HEREBY certified, recited and co—.nanted that a ;.
Certificate of Obligation ha:: —ten duly and lidiy all -
issued and deiivered;_.that all acts, conditions, and thincro ,
required or proper to be performed, exist and be done pr'�cede_ -..Lc
or in the authdrization, issuance and delivery of this Cart iiic.at-
of Obligation have been performed, existed and been done
accordance with law; that this Certificate of Obl.`Lgatioki Is
general obligation of said City, issued on the full faith and
credit thereof; and that annual ad valorem taxes suffir.-ken-c. t.r
provide for the payment of the interest on and principal o till's:
Certificate of Obligation, as such interest comes due a"d sucn
principal matures, have been levied and ordereci to be 1 evi.c,-J.
against all taxable property in said City, and ha.va beer, A1'-•Jcjeti
irrevocably for such payment, within the limit prescri b^d r,y :_af3;
and that this Certificate of Obligation is addi}._.cam. 37-1v ecur:ed 1.-,
a pledge cf the surpltis Airport Revenues derived from t�iF
Municipal Airport, all as provided in the Grd.i.rar_ce -uth _,r_J._, L r.g
co
the Certificates of Obligation.
CD
IN WITNESS WHEREOF, this Cert) fi-.ace anal r:�s,:
cou*cons anNe*-aaininc hereto have beer s_Lgied e:,i}..h csj.�y:_
signature c _' the Mayor of said City and countersigni.ct Y.:itoh e_.
facsimile ,Dign,itu.re. of the City Secretary -ofCi
orficia`.. seai o_ said Cite has been dt1�,v impre ssad,. c.'� -��
facsim�'-F� or,c'zis I;ertificate.
xxvv"
:;ity Sec, C-:_ary
F,.)R ,1, OF COMPTRGLLER' S REG7 STRATION
G°'7)"•1FTR:)i.4i:,FR' S REC I STRAT.T.ON CERTIFICATE: RED' T I_I'E7G
I ?,ereby :ert,ify t-1ha.t this Certificate
exarrLJned, certified as to validity and appr.ov�d
General of the State of Texas, and that tr_i s
obligat" cn has been registered by the Ccr<+otr. -,) ` � �r.
Ac.cotin�s of the State of Texas.
WITNESS rry signature and seal this
Comptroller of u!. ):Lic
of the State of
FOPUM OF INTEREST COUPON
NO.
THE CITY OF GEORGETOWN, COUNTY OF WILLTAMSON, STAiF
:`i'
promises to pay to bearer the amount shown on this in-'Cerc,
c
in law' ul money of the United States of F�-nerica,
or collection charges to the bearer, U.porl r _
surrender of this interest coupon at CITIZEN{:, TAT,r'
GEORGETOW0, TEXAS, said, amount b2i nr intere�71. d ic, c,a t
= ;
Cert-' ficate of Obligation 1: eari~2r
designated, of hat i ..sue of CITY OF un.:��i°.::.^'x- :.
IMPROVEMENT rLM ai Mgml0N lyA �L'?,
GBLIG,ACION. SERIES ���' , �.�tn�`�� �,.�a�,
Obligation No.
CZ ty Secrete a.r•�
3
1��
166
6. That ,oeri - l 19Intarest and. S'.n_lr n_" Fur`_
hereby created and shall b�-:' estab.lAshed a.rA
vhe Cit,r at an offic _ al depJsit ry bank o. :a � ('it.
a:�terestra,d Sinking F .x�d be kept
f77om all. other funds ana_ a7,cUu.r+.ts s•f ^ai.c? Ci`Lvv. F -id
Taed only for paying tie ir.teres~:, on =:� :zinc-
CertifiCsLk as of Ob.".J: gz tio7"
taxes .", levieC -:end collectiLd c-. f a _..,
for and o�. a .. o�:.i��- o s -�
1981 Certificates of Obligation shall he denc -z '!`_ -.,
�-:ol.lecteci. L.o the c_°edit of said interest- and
?wring each year while any of said Series 19CI
of Obligation or interest coupons appertaJ_rinr ther'_,d c rx•e
outstanding anC unpaid, the City Council of said Ci-i_y
:ompL.te and asc,-rtain a rate and amo°znt of ad
which will Ye c.ufficient to raise and the tnoilc:�
required, to pay 'k.he interest on said Series 1981
of Obligati.on as szch principal matures (but no.vc-r 1r cri
2% of the original amoun-_ of said Series 192-1 r-e-ti
of Oblagati°on as a %:inking fund each yeq.r; ; ar-I
.-hall- be based on the latest approved tax rc:'_ c o) :,-
City, with full allowar_ces being made for tz,.:
and- -cl,a cost of tax collection. Said rate �_r„(' a-; :)u-,
v_:?,orant tax is herebv le-viC.d, and is here:b- rc
letried, against all taxable property in ;-, J_.: �_i
lear Twhile any of said. Sery -�s 1981 Cor} ;.f:, i _ -
S+a _ntereS+"=C)Unons appertL,_.:-il�q the:: -etc ti �:. ' ;•'
r"i •V-=c:' i:i.`"1d 6e Fd l:0 a^ 0r�.c'1+ Z:� -
'?"
:r JI'.•v' w �C " �iAP,??.'bent O the
ref a.-. Cert.- i ia.tes C'f
....c'a ._ -C:., fi r_ �.?' fi;.,,;3 .1?-t.
_ � � 'y O l' "'. ,'•,, l- �% � L C `v r E� a :.� ' a'"1 .� Shrs � _i ''°
f ?E' 7"eVe:]J� C).F,V 1Vec1 a roP'r L~.i:• .. i
r?eductinn tl,.: t'eason_ 6-i e ,ti_ .:�
._, cl.,^, pi0•(T1dt�(� by %•Y1•'
`1'e„r_"s's part' cularly Article 1 Y
"Surplus
ii
f i-a'.r ca.z_1ed, �ur�a�_us ReveiZuc s
. 1,_ SurplL,s Revenues to the-
S ; :..i;:__ _ _%ind created pursuant t:�
of -� d i �tc-•dst
t.zUn. T:ot-
,. .'.c.r:` :.� • ` _.I Sl�rp_�,.:.� �es� T1:ies ,�.r� i._W.':.. _5.i i�• ..
ntk.,- St:: a:nd. S:,rxing Fund 9.n add' �.c::
t .Kes are sr_hedduJ ?d to re
the a,r>ount'. of taxes which other wise wo ?..1d
` o bc- l€vie-c, ursuant to Section E nay s: w ecru: c'
and v the amount of the Surp li_� s
6.ePclr,v:.: in the ?nterest and Sinking Fund.
w I`r,Ut a,s Iona as the Series Ue, ti,I:!C:
a.r-. c .ts . a 'i nr• -he City ' h;F�, -- r:
e ..r..,�?¢a to tie p:.Y:.r.,-r�' c ar.<
v' Y �` �- •L�?.-:1 )ns Or 'chc.' City '.nc:�.�r':,
to i.he n t e r E s t 3C11 ': "'F•'.'.a
1.0 r'}..1P 4h� I,,:, o . O T s a. r-i C I t N*r.
ar,d :t. SCE i s c :C'V r _. i d5
Li.: ; - . 7, _ _- Cr i'l'.',-
�_
16'7
and their investigation, Examination and approval by t1rl
Attorney General of the State a-f Texas, rand their registrat-, o
by the Comptroller of Public Account; cf thl a State of iexat
Upon reristra-cion of said Certificates sa"—d yoraptroli-er ;--f
Public Accounts Zor a deputy designated a1a ritin �,
for said. Comptroller) shall _.nually si-r, 'e Comptrn l I ST cl
Registration Certificate priated and :a.nd._Jrsed on sach of
said Series 198? Certificates of Ob1-Lgat:i,zn" . and the seal oi--
said Comptroiier shall be impressed or placed in. fac ; m _ .
on each of said Series 1981 Certificates of Obligation.
11. That the City covenants to and wi ".h the purchase="s
of the Series 1981 Certificates of Obligation that it will
make no use of the proceeds of the Series 1961 Certificates
of Obligation at any time throughout the team of this issue
of Series 1981 Certificates of Obligation which, if such Lis T
had been reasonably expected on the date of del i,-ery cf thr4
Series 1981 Certificates of Obligation to and paym.ert fa:
the Series 1981 Certificates of Obligation by the purchas, r's.
would have caused the Series 1981 Certificates of Obi.. ga:.ioa .
to be arbitrage bonds within the meaning of Section )03gr-
of the Internal Revenue Code of 1954, as amended, o, -- a:zq,
00
regulations or rulings pertaining thereto; and by
(o
covenant the City is obligated to comply °i th the
of the aforesaid Section 103(c) and all applicaalo_
pertinent Department of the Treasury regulations
arbitrage bonds. The City further covenants the l", the
of the Series 1981 Certificates of Obligat.ior..
otherwise be used directly or indirectly so as to
or any part of the Series 1981 Certificates of
be or become arbitrage bonds within the meaz"i Izg
aforesaid Section 103(c), or any regulations
pertaining thereto.
1� . That. it is hereby officially founc` and �.c 4 r a:, -
that a case of emergency or urgent public nec. ess ty
which requires the holding of .I.,he mec ;-i.n� a _ wh_-' c:� .:
Ordinance is passed, such er.aergerzcy or urg`n'
ity being -chat the proposed Series ti9�31 i`_,r;;;. _..✓c:.: <.,.
Obligation aree requ red a-s aon,a
aelay for necessary and urgent o_y' _Zeed .d ,pub? i,_ Y07,rk��
and that said meeting was open to
notice of r?e time, place and purpos_� o
al .:s P.s required y Vernon's, - .6252-17.
13, That said Seri -Las
aro hereby sold and shall be delivered to t` r.s.
Bay k, Ge:,rgetJwn, Texas, for cash. for the -c
and accrued ini-erest thereon_ to the date of :ielivc.: -Y
M