HomeMy WebLinkAboutORD 2015-29 - Cert of Obligation 2015[111111 111'9111 111fiffifIff"IME
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 12TFI
DAY OF MAY, 2015, at Council Chambers, 101 E. 7th Street, Georgetown, Texas
vd-tte-ttbers *fAe CiV. to -W
e r sa iv. to w
Dale Ross, Mayor
Rachel Jonrowe, Mayor Pro Tem, Councilmember District
Patty Eason, Councilmember District I
Keith Brainard, Councilmember District 2
John Hesser, Councilmember District 3
Steve Fought, Councilmember District 4
Jerry Hammerlun, Councilmember District 5
Tommy Gonzalez, Councilmember District 7
and all of the persons were present, except the following absentees: 4) thus
constituting a quorum. Whereupon, among other business, the following was transacted at the
Meeting: a written
oil
was duly introduced for the consideration of the City Council. It was then duly moved and
seconded that the Ordinance be passed on first reading; and, after due discussion, said motion
carrying with it the passage of the Ordinance, prevailed and carried by the following vote:
AYES:
t -A
NOES: W
GTO WN\CO\2015: OrdCert
2. A true, full and correct copy of the Ordinance passed at the Meeting described in
has been duly recorded in the City Council's minutes ot the ITTleeting; that tile above and foregoing
paragraphs are a true, full and correct excerpt from the City Council's minutes of the Meeting
pertaining to the passage of the Ordinance-, that the persons named in the above and 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 Ordinance 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 5 5 1, Texas Government Code.
3. The Mayor of the City has approved and hereby approves the Ordinance; that the
Mayor and the City Secretary of the City have duly signed the Ordinance; 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 Ordinance for all purposes.
GTOWN\CO\2015: OrdCert
I w a
le--\
City S cretary
[CITY SEAL]
GTO WN\CO\2015: OrdCert
Mayor
GTOWN/CO/2015: Ordinance
OR
Recitals............................................................................................................................................ I
Section 1. RECITALS AND PURPOSE OF THE CERTIFICATES ............. ........................ 2
Section 2. DESIGNATION, DATE, DENOMINATIONS,
NUMBERS, AND MATURITIES OF CERTIFICATES .......................................2
Section3. INTEREST .............................................................................................................. 3
Section 4. CHARACTERISTICS OF THE CERTIFICATES ................................................. 3
Section5. FORM OF CERTIFICATE ..................................................................................... 7
Section 6. INTEREST AND SINKING FUND ..................................................................... 15
Section7. REVENUES .......................................................................................................... 16
Section 9. DAMAGED, MUTILATED, LOST, STOLEN,
OR DESTROYED CERTIFICATES .................................................................... 17
Section 10. CUSTODY, APPROVAL, AND REGISTRATION OF
CERTIFICATES; BOND COUNSEL'S OPINION;
CUSIP NUMBERS AND CONTINGENT INSURANCE
PROVISION, IF OBTAINED...18
�,ection 11. COVENANTS REGARDING TAX EXEMPTION OF
INTEREST ON THE CERTIFICATES ................................................................ 18
Section 12. SALE OF CERTIFICATES .................................................................................. 21
GTOWN/CO/2015: Ordinance
Section 19.
DEFAULT AND REMEDIES _._'-_.---....~.-_..,.~..._..,.,....—.--..2l
Section 14.
INTEREST EARNINGS ON CERTIFICATE PROCEEDS ................................
22
Section 15.
APPROVAL OF PAYING
TETTER OF REPRESENTATIONS
AND OFFICIAL S .,--...._--'.-.~..,.^-_,.—.--.-.~.....-.,..~,23
Section 16.
CONTINUING DISCLOSURE UNDERTAKING ..............................................
23
Section 17.
AMENDMENT OF ORDINANCE ...—..~..—.—~.^.—_.—'-_-,....,..-.~_2h
Section 18,
NO RECOURSE AGAINST CITY OFFICIALS .................................................
28
Section19.
FURTHER ACTIONS ...........................................................................................
18
Section 20.
INTERPRETATIONS --~._..--.~.---....-_~.-.-._..'.-..-__'...~.,^.^2&
Section 21.
INCONSISTENT PROVISIONS ..........................................................................
28
Section 22.
INTERESTED PARTIES ......................................................................................
2&
Section 23.
INCORPORATION OF RECITALS ..........—.—......--_-....._.._.........29
Section 24.
SEVERABILITY^_.._,._,,.,^.,_~,,._..__,.,___.,,_. -~,,_,^,,_,,.~.,,.,,29
Section 25.
EFFECTIVE DATE .............................................................................................. 29
Section 26.
PERFECTION -...',,.^.'~~^.'^''~^~'---'~'^'—`—~~^`'—^^^'~-`---^-^'^^^~~~~`2y
Section 27.
PAYMENT OF ATTORNEY GENERAL FEE .......................................... °~~~Z9
Exhibit A
Paying Agent/Registrar Agreement
Exhibit
Description of Annual Financial Information
ii
GTOWN/CO/2015: Ordinance
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGETOWN
WHEREAS, the City Council of the City of Georgetown, Texas (the "Ci ") deems it
advisable to issue certificates of obligation in the amount of $6,990,000 (the "Certificates") and
W-011,•Wmal
W&RI"IMPAR ELF 10
incurred in connection therewith including the costs of issuing the Certificates-, and
WHEREAS, the Certificates hereinafter authorized and designated are to be issued and
Local Government Code, as amended,
and Section 1502.052, Texas Government Code, as amended; and
WHEREAS, on March 24, 2015, the City Council passed a resolution authorizing and
directing the City Secretary to give notice of intention to issue Certificates; and
WHEREAS, the notice was published on April 1, 2015 and April 8, 2015 in 11 the
Williamson County Sun, a newspaper of general circulation in the City and a "newspaper as
defined in Section 2051.044, Government Code; and
WHEREAS, the City has not received a petition from the qualified electors of the City
protesting the issuance of the Certificates-, and
GTOWN/CO/2015: Ordinance
WHEREAS, it is herebyofficially found and determined
Ordinance w. passed was4t` to the public, and public notice of _ time, place . • purpose •
said meeting was given, all as required by Chapter 5 5 1, Texas Government Code; and
WHEREAS, it is considered to be in the best interest of the City that the interest bearin
Certificates be issued.
`, THEREFORE,BE • BY
OF GEORGETOWN,
Section 1. RECITALS
PURPOSE OF THE CERTIFICATES. (a) Th
forthrecitals set preamble hereof are incorporated by
same force and effect as if set forth in this Section. The Certificates of the City of Georgetown
Texas (the "City") are hereby authorized to be issued and delivered in the aggregate pnincip
amount of $6,990,000 (the "Certificates"), the payment in whole or in part of contractua
obligations incurred or to be incurred for- (1) constructing, improving, extending, expanding an
including purchasing any necessary right-of-way and equipment- (2
upgrading City si
• • i i • e i a •r ° •i facilitiest' ° p-rovements and
fue
farm; (3) constructing, improving, upgra ing and equipping City park and recreational buildi . ng
• facilities, including• •e' and Splash •a•; (4) constructing, improvin
extending, expanding and upgrading the City's storm water drainage facilities, including.Smi
Branch remediation program; (5) constructing, improving, renovating, expanding and equippin
City buildings a • facilities including a •Service f purchase ofvehicles ani
• other such costs'• in connection• 'the costsof s
the Certificate
a,) Vision Statement. The City Council• • of
Ordinance and issuance of the Certificates complies with the Vision Statement of the City.
Section r DATE, DENOMINATIONS,NUMBERS,
issuedMATURITIES OF CERTIFICATES. Each Certificate pursuant to this Ordinance
be designated: "CITY OF GEORGETOWN, TEXAS COMBINATION TAX AND REVENIJ
CERTIFICATE OF OBLIGATION, SERIES 2015", and initially there shall be issued, sold, an(I
delivered hereunder fully registered Certificates, withoutdated May 1, 2015,
respectivedenominations r • principal amounts- -• numbered consecutivel
from R-1 upward (except the initial Certificate delivered to the Attorney General of the State
Texas which shall be numbered T-1), payable to the respective initial registered owners there
(as designated in Section 12 hereof), or to the registered assignee or assignees of said Certificat
or any portion or portions thereof (in each case, the "Registered Owner"), and said Certificat
shall mature and be payable serially on August 15 in each of the years and in the principal amount
respectively, as set forth in the following schedule:
GTOWN/CO/2015: Ordinance
YEAR
AMOUNT
A
AMOUNT
2016
$330,000
2026
$285,000
2017
390,000
2027
285,000
2018
390,000
2028
290,000
2019
395,000
2029
310,000
2020
400,000
2030
315;000
2021
405,000
2031
325,000
2022
420,000
2032
335,000
2023
330,000
2033
340,000
2024
350,000
2034
2025
360,000
2035
735,000
The term "Certificates" as used in this Ordinance shall mean and include collectively the
Certificates initially issued and delivered pursuant to this Ordinance and all substitute Certificates
exchanged therefor, as well as all other substitute certificates and replacement Certificates issued
pursuant hereto, and the term "Certificate" shall mean any of the Certificates.
Section 3. INTEREST. The Certificates scheduled to mature during the years,
respectively, • below shall bear interestfrom - dates specified in the FORM,
-W their resyective dates of maturit, or redemption prior
to maturity at the followingper annum:
YEAR
RATE
YEAR
2016
2.000%
2026
2017
2.000
2027
2018
2.000
2028
2019
2.000
2029
2020
2.000
2030
2021
3.000
2031
2022
5.000
2032
2023
5.000
2033
2024
5.000
2034
2025
5.000
2035
Ft
Interest shall be payable in the manner provided . • on - dates . -• in the FORM•
forth45
CERTIFICATE set Ordinance.
Section 4. CHARACTERISTICS OF THE CERTIFICATES. (a) Registration,
Transfer, Conversion and Exchange; Authentication. The City shall keep or cause to be kept at
The Bank of New York Mellon Trust Company, N.A., (the "Paying Agent/Registrar") books or
records for the registration of • • and exchange of R
tes (the
and exchanges under such reasonable regulations as the City and Paying Agent/Registrar may
GTOWN/CO/2015o Ordinance
exchanges as herein provided. The Paying Agent/Registrar shall obtain and record in the
Registration Books the address of the Registered Owner of each Certificate to which payments
with respect to the Certificates shall be mailed, as herein provided; but it shall be the duty of each
Books contidential and, unless ottieri
other entity. The Paying Agent/Registrar shall make the Registration Books available within the
State of Texas. The City shall pay the Paying Agent/Registrar's standard or customary fees and
charges for making such registration, transfer, conversion, exchange and delivery of a substitute
Certificate or Certificates. Registration of assignments, transfers, conversions and exchanges of
Certificates shall be made in the manner provided and with the effect stated in the FORM OF
CERTIFICATE set forth in this Ordinance. Each substitute Certificate shall bear a letter and/or
number to distinauish it ftorn each other Certificate.
Except as provided in Section 4(c) of this Ordinance, an authorized representative of the
Paying Agent/Registrar shall, before the delivery of any such Certificate, date and manually sign
6 -mit no such Certificate shall be deemed to be issued or outstanding unless such
Certificate is so executed. The Paying Agent/Registrar promptly shall cancel all paid Certificates
and Certificates surrendered for conversion and exchange. No additional ordinances, orders, or
resolutions need be passed or adopted by the governing body of the City or any other body or
person so as to accomplish the foregoing conversion and exchange of any Certificate or portion
thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and deli i very of
I *r d aid Certificates shall be printed or
execution L I MT
and enforceable in the same manner and with the same effect as the Certificates which initially
were issued and delivered pursuant to this Ordinance, approved by the Attorney General and
registered by the Comptroller of Public Accounts.
(b) PUme of Certificates and Interest. The City hereby ftuther appoints the Paying
Agent/Registrar to act as the paying agent for paying the principal of and interest on the
Certificates, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper
records of all payments made by the City and the Paying Agent/Registrar with respect to the
Certificates, and of all conversions and exchanges of Certificates, and all replacements of
Certificates, as provided in this Ordinance. However, in the event of a nonpayment of interest on
a scheduled payment date, and for thirty (30) days thereafter, a new record date for such interest
payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when
funds for the payment of such interest have been received from the City. Notice of the past due
interest shall be sent at least five (5) business days prior to the Special Record Date by United
States mail, first-class postage prepaid, to the address of each Registered Owner appearing on the
4
Registration Books at the close of business on the last business day next preceding the date of
mailing of such notice.
(e) In General. The Certificates (i) shall be issued in fully registered form, without
interest coupons, with the principal of and interest on such Certificates to be payable only to the
Registered Owners thereof, (ii) may be redeemed prior to their scheduled maturities (notice of
which shall be given to the Paying Agent/Registrar by the City at least 45 days prior to any such
redemption date), (iii) may be converted and exchanged for other Certificates, (iv) may be
transferred and assigned, (y) shall have the characteristics, (vi) shall be signed, sealed, executed
2 -ti auVte-rt='1e4.. (vii) Ae nri-tci-oal of and interest on the Certificates shall be Payable, and (viii)
I- No
Mim _1� TOT
responsiDIRLICS ITIM FCSPiUUL LO UCW,-MA-7)a�_ M -WTt70_
as required or indicated, in the FORM OF CERTIFICATE set forth in this Ordinance. The
Certificates initially issued and delivered pursuant to this Ordinance are not required to be, and
shall not be, authenticated by the Paying Agent/Registrar, but on each substitute Certificate issued
in conversion of and exchange for any Certificate or Certificates issued under this Ordinance the
Paying Agent/Registrar shall execute the PAYING AGENT/REGISTRAR'S
AUTHENTICATION CERTIFICATE, in the form set forth in the FORM OF CERTIFICATE.
(d) Substitute PMing Agent/Registrar. The City covenants with the Registered Owners
® the Certificates that at all times while the Certificates are outstanding the City will provide a
competent and legally qualified bank, trust company, financial institution, or other agency to act
iff the Certificates under this Ordinancq_
and that the Paying Agent/Registrar will be one entity. The City reserves the right to, and may, at
its option, change the Paying Agent/Registrar upon not less than 30 days written notice to the
Paying Agent/Registrar, to be effective at such time which will not disrupt or delay payment on
the next principal or interest payment date after such notice. In the event that the entity at any time
acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other method) should
resign or otherwise cease to act as such, the City covenants that promptly it will appoint a
competent and legally qualified bank, trust company financial institution, or other a ency to act
9
as Paying Agent/Registrar under this Ordinance. Upon any change in the Paying Agent/Registrar,
g_"entRegistrar ymm_v_t1-,, shall transfer and deliver the Registration Books (or
a copy thereof), along with all other pertinent books and records relating to the Certificates, to the
new Paying Agent/Registrar designated and appointed by the City. Upon any change in the Paying
Agent/Registrar, the City promptly will cause a written notice thereof to be sent by the new Paying
Agent/Registrar to each Registered Owner of the Certificates, by United States mail, first-class
postage prepaid, which notice also shall give the address of the new Paying Agent/Registrar. By
accepting the position and performing as such, each Paying Agent/Registrar shall be deemed to
have agreed to the provisions of this Ordinance, and a certified copy of this Ordinance shall be
delivered to each Paying Agent/Registrar.
(e) Book -Entry -Only System. The Certificates issued in exchange for the Certificates
initially issued as provided in Section 4(h) shall be issued in the form of a separate single fully
registered Certificate for each of the maturities thereof registered in the name of Cede & Co. as
hereof, all of the Outstmdinr icatew
4 Certif
shall be registered in the name of Cede & Co., as nominee of DTC.
GTOWN/CO/2015: Ordinance 5
(f) Successor Securities Depositoly-, Transfer Outside Book--E—ntr-Y-OnIY SYstem. in
the event that the City determines to discontinue the book -entry system through DTC or a
s-amesmi-*r �hwr
�rpg ij)
the City shall either (i) appoint a successor securities depository, qualified to act as such under
Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC and DTC
Participants of the appointment of such successor securities depository and transfer one or more
separate Certificates to such successor securities depository or (ii) notify DTC and DTC
Participants of the availability through DTC of Certificates and transfer one or more separate
Certificates to DTC Participants having Certificates credited to their DTC accounts. In such event,
the Certificates shall no longer be restricted to being registered in the Registration Books in the
name of _•- & Co., as nominee of DTC, but may be registered in the name of the successor
GTOWN/CO/2015: Ordinance 6
Eel wluv- 11 wkw" i r names Re
gistere.i
$21120JOR1011
(g) Pqyments to Cede & CO. Notwithstanding any other provision of this Ordinance to
the contrary, so long as any Certificate is registered in the name of Cede & Co., as nominee of
DTC, all payments with respect to principal of, premium, if any, and interest on such Certificate
r w-- �, Agt. tificate- shall b e m ad e and gi v e n , re s aQeut i —ye Ir y, i n th e m anne r
provided in the Blanket Representation of the City to DTC.
(h) initial Certificate. The Certificates herein authorized shall be initially issued as
fully registered certificates, being one certificate for each maturity in the denomination of the
applicable principal amount and the initial Certificate shall i.....-• _...., in the name of the initial
purchaser or the designees thereof as set forth in Section 12 hereof. The initial Certificate shall be
the Certificate submitted to the Office of the Attorney General of the State of Texas for approval,
certified and registered by the Office of the Comptroller of Public Accounts of the State of Texas
and delivered to the initial purchaser. Immediately after the delivery of the initial Certificate, the
Paying Agent/Registrar shall cancel the initial Certificate delivered hereunder and exchange
therefor Certificates in the form of a separate single fully registered Certificate for each of the
maturities thereof registered in the name of Cede & Co., as nominee of DTC and except as
Ili vided in Section 4�� i , all of the outstandinj Certificates shall be registered in the name of Cede
& Co., as nominee of DTC.
Section 5. FORM OF CERTIFICATE. The form of the Certificate, including the
form of Paying Agent/Registrar's Authentication Certificate, the form of Assignment and the form
of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be
attached to the Certificates initially issued and delivered pursuant to this Ordinance, shall be,
are permitted or required by this Ordinance.
NO. R- UNITED STATES OF AMERICA PRINCIPAL
A Q
STATE OF TEXAS AMOUNT
COUNTY OF WILLIAMSON $
CITY OF GEORGETOWN, TEXAS
COMBINATION TAX AND REVENUE CERTIFICATE OF OBLIGATION,
SERIES 2015
MEMM
W.." F., 11 y
DATEOF
GTOWN/CO/2015: Ordinance 7
Nil
or Certilicafes, ii an1j, T17 Tj.LjjUjj Llll;i
has not been paid, then this Certificate shall bear interest from the date to which such interest has
been paid in full. Notwithstanding the foregoing, during any period in which ownership of the
Certificates is determined only by a book entry at a securities depository for the Certificates, any
payment to the securities depository, or its nominee or registered assigns, shall be in e in
accordance with existing arrangements between the City and the securities depository.
THE PRINCIPAL OF AND INTEREST ON this Certificate are payable in lawful
money of the United States of America, without exchange or collection charges. The principal of
this Certificate shall be paid to the Registered Owner hereof upon presentation and surrender of
Tfr n ie te fixed for its redem-Dtionprior to maturity, at The Bank
—01
GTOWN/CO/2015: Ordinance 8
no suc a ay' ga o
close-, and payment on such date shall have the same force and effect as if made on the origin
date payment was due.
THIS CERTIFICATE is one of a series of Certificates dated May 1, 2015, authorize
accordance with the Constitution and laws of the State of Texas in the principal amount
2,piill i i 11- -elt iv le or in art of contractual obli ations incurre
GTOWN/CO/2015: Ordinance 9
*Final Maturity
THF, PRINCIPAL AMOUNT of the Tenn Bonds required to be redeemed pursuannt
and canceled by the Paying Agent/Registrar at the request of the City with monies in the Intere
and Sinking Fund at a price not exceeding the principal amount of the Term Bonds plus accrue
interest to the date of purchase thereof, or (3) shall have been redeemed pursuant to the option
redemption provisions and not theretofore credited against a mandatory sinking fund redemptio
requirement.
No LFSS THAN 30 days prior to the date fixed for any such redemption, the City sha
cause the Paying Agent/Registrar to send notice by United States mail, first-class postage prepai
to the Registered Owner of each Certificate to be redeemed at its address as it appeared on t
Registration Books of the Paying Agent/Registrar at the close of business on the 45th day prior
the redemption date; provided, however, that the failure to send, mail or receive such notice,
all not affect the validi or effectivene
I MAMTOWEIM
will ito the Registered Owner
principal amount equal to the unredeemed portion theo
ref, be I ssue d
upon the surrender thereof for cancellation, at the expense of the City, all as provided in the
Ordinance.
WITH RESPECT TO any optional redemption of the Certificates, unless certain
prerequisites to such redemption required by the Ordinance have been met and moneys sufficient
to pay the principal of and premium, if any, and interest on the Certificates to be redeemed shall
have been received by the Paying Agent/Registrar prior to the giving of such notice of redemption,
such notice shall state that said redemption may, at the option of the City, be conditional upon the
!*mw4*6kf such moneyzs bp the Nutin1w.4i istrar on or
prior to the date fixed for such redemption, or as any prerequisite set forth in such notice of
redemption. If a conditional notice of redemption is given and such prerequisites to the redemption
and sufficient moneys are not received, such notice shall be of no force and effect, the City shall
not redeem such Certificates and the Paying Agent/Registrar shall give notice, in the manner in
which the notice of redemption was given, to the effect that the Certificates have not been
redeemed.
1,•@00'' 1, F -, Mt. to,
- W=07POW940-07
fTV-J=7T
-"cip" a", - 11"W100 011 1101 IN ! -0
between the City and the securities depository.
in any integral multiple of $5,000 to the assignee or assignees in whose name or names this
Certificate or any such portion or portions hereof is or are to be registered. The form of
uted b the Re stered Owner to
GTOWN/CO/2015: Ordinance 11
WIR
GTOWN/CO/2015: Ordinance 12
City Secretary
EM
WyArtm
WA&W-13 of 9
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
(To be executed if this Certificate is not
accompanied by an executed Registration
Certificate of the Comptroller of Public
Accounts of the State of Texas)
it is hereby certified that this Certificate has been issued under the provisions of the
Ordinance described in the text of this Certificate; and that this Certificate has been issued in
conversion or replacement of, or in exchange for, a certificate, certificates, or a portion of a
Wj"ji ', 6 - was a roved bi the Attorne4 General of the
I)D
1g,jig -X*
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KI 0 1 V-Kej a 9 2 , I I t' 12 L! -A- WA
Dated The Bank of New York Mellon
Trust Company, N.A.
Paying Agent/Registrar
By
Authorized Representative
ASSIGNMENT
For value received, the undersigned hereby sells, assigns and transfers unto
IUAW114141W.111t 6'r-mlin
including zip code, of Transferee)
GTOWN/CO/2015: Ordinance 13
the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
, attorney, to register the transfer of the
within Certificate on the books kept for registration thereof, with full power of substitution in the
premises.
Dated:
llmzmm��
NOTICE- Signature(s) must be guarante•
by a member firm of the New York Sto
Exchange or a commercial bank or tru
company.
NOTICE: The signature above
correspond with the name of the Register
Owner as it appears upon the front of th
Certificate in every particular, witho
alteration or enlargement or any chan
whatsoever. I
t I ,I I R
KKIJ WV;j V a-13 110 a
I hereby certify that this Certificate has been examined, certified as to validity and approved
by the Attorney General of the State of Texas, and that this Certificate has been registered by the
Comptroller of Public Accounts of the State of Texas.
Witness my signature and seal this
Comptroller of Public Accounts
of the State of Texas
The initial Certificate shall be in the form set forth in this Section, except that:
A. immediately under the name of the Certificate, the headings "INTEREST RATE" and
"MATURITY DATE" shall both be completed with the words "As shown below" and
"CUSIP NO." shall be deleted.
&. the first paragraph shall be deleted and the following Will be insertel
GT4V;N/CO/2015: Ordinance 14
"ON THE MATURITY DATE SPECIFIED BELOWI the City of Georgetown, Texas
(the "City"), being a political subdivision, hereby promises to pay to the Registered Owner
specified above, or registered assigns (hereinafter called the "Registered Owner"), on August 15
in each of the years, in the principal installments and bearing interest at the per annum. rates set
forth in the following schedule:
Year
Amount Rate
(Information from Sections 2 and 3 to be inserted)
The City Promises to pay interest on the unpaid principal amount hereof (calculated on the basis
of a A0 •. year of twelve 30 -day months) from the initial date of delivery of the Certificates at
the respective Interest Rate per annum specified above. Interest is payable on February t5, 2016
and semiannually on each February 15 and August 15 thereafter to the date of payment of the
principal installment specified above; except, that if this Certificate is required to be authenticated
and the date of its authentication is later than the first Record Date (hereinafter defined), such
principal amount shall bear interest from the interest payment date next preceding the date of
authentication, unless such date of authentication is after any Record Date but on or before the
aivt interest ftom
ILd LC7L,—,11 I
sucn next Toilowing 171LUTEM ff 7111 -1 -
hereof the interest on the Certificate or Certificates, if any, for which this Certificate is being
exchanged is due but has not been paid, then this Certificate shall bear interest from the date to
which such interest has been paid in full."
C. The initial Certificate shall be numbered "T -l."
ITO
Le
used to pay interest on the Certificates.
GTOWN/CO/2015: Ordinance 15
Section 7. REVENUES. The Certificates together with other obligations of the City,
are additionally secured by and shall be payable from and secured by the surplus revenues of the
S P Px enses or collections t
M1
of taxes which otherwise would have been required to be levied pursuant to Section 6 may be
reduced to the extent and by the amount of the Surplus Revenues or other lawfully available funds
then on deposit in the Interest and Sinking Fund or budgeted for deposit therein.
Whenever used in this Ordinance the Tenn "System" means the City's combined electri
waterworks and sewer system as defined in Ordinance No. 98-34. 0
The Mayor and the Chief Financial Officer of the City are hereby ordered to do any and all
things necessary to accomplish the transfer of monies to the interest and Sinking Fund of this issue
in ample time to pay such items of principal and interest.
Section 8. DEFEASANCE OF CERTIFICATES. (a) Any Certificate and the
interest thereon shall be deemed to be paid, retired and no longer outstanding (a "Defeased
Certificate") within the meaning of this Ordinance, except to the extent provided in subsections
(c) and (e) of this Section, when payment of the principal of such Certificate, plus interest thereon
or otherwise) either (i) shall have been made or caused to be made in accordance with the terms
el I iff9l) MR
in suc amounts and at such times as will ensure the availability, without reinvestment, of
sufficient money to provide for such payment and when proper arrangements have been made by
jih,%, Ciru with the Pat,"n Agent/Registrar or a commercial bank or trust corrroav,&, for the payment
of its services until all Defeased Certificates shall have become due and payable or (3) any
combination of (1) and (2). At such time as a Certificate shall be deemed to be a Defeased
Certificate hereunder, as aforesaid, such Certificate and the interest thereon shall no longer be
secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein levied as
provided in this Ordinance, and such principal and interest shall be payable solely from such
money or Defeasance Securities and thereafter the City will have no further responsibility with
respect to amounts available to such Paying Agent/Registrar (or other financial institution
permitted by applicable law) for the payment of such Defeased Certificate, including any
insufficiency therein caused by the failure of the Paying Agent/Registrar (or other financial
institution permitted by law) to receive payment when due on the Defeasance Securities.
GTOWN/CO/2015: Ordinance 16
and the City stiall MaKe proper arrkingUIRCULS LU %.,I -B.A.'a 0 A
this Ordinance.
(d) Notwithstanding anything elsewhere in this Ordinance, if money or Defeasanc
ijjj,, �ave eo d isited or set aside with the Payin gent/ReMstrar or a commercial b
not have in fact been actually paid in full, no amendment of the provisions ot this Section shall
made without the consent of the registered owner of each Certificate affected thereby.
(e) Notwithstanding the provisions of subsection (a) immediately above, to the exte
that u on the defeasance of Defeased Certificate to be paid at its maturity, the City retains t
t-ITI—df f I I I A
GTOWN/CO/2015: Ordinance 17
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lost,- or destroyed shall constitute• obligation of or •
t t
lost, stolen or destroyed Certificate shall be found at any time, or be enforceable by anyone, an
shall be entitled to all the benefits of this Ordinance equally and proportionately with any and a
other Certificates duly issued under this Ordinance.
(e) AuthorLty for Issuing Replacement Certificates. In accordance with Subchapter
of Texas• " •tle, Chapter 1206, this Sectionof this Ordinance shall constitute•
for the issuance of any such replacement Certificate without necessity of further action by t
governing body of the City or any other body or person, and the duty of the replacement of suc
Certificates is hereby authorized and imposed upon the Paying Agent/Registrar, and t e ayi
Agent/Registrar shall authenticate and deliver such Certificate in the form and mariner and wi
GTOWN/CO/2015: Ordinance 18
the effect, as provided in Section 4(a) of this Ordinance for Certificate issued in conversion and
exchange for other Certificates.
oil
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information of the Registered Owners of the Certificates. In addition, if bond insurance is
obtained, the Certificates may bear an appropriate legend as provided by the insurer.
assure, or reirain YMM R
as obligations described in section 103 of the Internal Revenue Code of 1986, as amended (the
"Code"), the interest on which is not includable 'in the "gross income" of the holder for purposes
of federal income taxation. In furtherance thereof, the City covenants as follows -
(I) to take any action to assure that no more than 10 percent of the proceeds of
if any) are used for any "private business use," as defined in section 141 (b)(6) of the Code
or, if more than 10 percent of the proceeds or the projects financed therewith are so used,
such amounts, whether or not received by the City, with respect to such private business
use, do not, under the terms of this Ordinance or any underlying arrangement, directly or
indirectly, secure or provide for the payment of more than 10 percent of the debt service
on the Certificates, in contravention of section 141 (b)(2) of the Code,
(2) to take any action to assure that in the event that the "private business use"
described in subsection (1) hereof exceeds 5 percent of the proceeds of the Certificates or
the projects financed therewith (less amounts deposited into a reserve fund, if any) then the
amount in excess of 5 percent is used for a "private business use" which is "related" and
not "disproportionate," within the meaning of section 141(b)(3) of the Code, to the
governmental use;
(3) to take any action to assure that no amount which is greater than the lesser
of $5,000,000, or 5 percent of the proceeds of the Certificates (less amounts deposited into
a reserve fund, if any) is directly or indirectly used to finance loans to persons, other than
state or local governmental units, in contravention of section 141(c) of the Code-,
GTOWN/CO/2015: Ordinance 19
(4) to refrain from taking any action which would otherwise result in the
Certificates being treated as "private activity bonds" within the meaning of section 141(b)
of the Code;
(5) to refrain from taking any action that would result in the Certificates being
"federally guaranteed" within the meaning of section 149(b) of the Code;
(6) to refrain from using any portion of the proceeds of the Certificates, directly
or indirectly, to acquire or to replace funds which were used, directly or indirectly, to
acquire investment property (as defined in section 148(b)(2) of the Code) which produces
a materially higher yield over the term of the Certificates, other than investment property
acquired with --
(A) proceeds of the Certificates invested for a reasonable temporaig
I . 44 il geg gr e ji 1i
Ji -egg if arefanding bond, oraperiodof30daM
i d
or less unul SUC procecus UfC 11CCUCU 101 LII0-PIIJXP4S0 Iffr WHILAI LIM 1�01-CMVMOS7alV
issued, I
(B) amounts invested in a bona fide debt service fund, within the
meamnR of section 1.148- 1 (b) of the Treasury Regulations, and
(C) amounts deposited in any reasonablv reciaired reserve or
replacement fund to the extent such amounts do not exceed 10 percent of the
proceeds of the Certificates;
(7) to otherwise restrict the use of the proceeds of the Certificates or amounts
`d as -,troceeds of the Certificates,, as ma:v., be necessaCk so that the Certificates do not
otherwise contravene the requirements of section 148 of the Code (relating to arbitrage)
and, to the extent applicable, section 149(d) of the Code (relating to advance refundings);
and
(8) to -pay to the United States of America at least once during each five-year
to 90 percent of the "Excess Earnings," within the meaning of section 148(f) of the Code
and to pay to the United States of America, not later than 60 days after the Certificates have
been paid in full, 100 percent of the amount then required to be paid as a result of Excess
Earnings under section 148(f) of the Code.
(b) Rebate Fund. In order to facilitate compliance with the above covenant , a
"Rebate Fund" is hereby established by the City for the sole benefit of the United States of
America, and such fund shall not be subject to the claim of any other person, including without
limitation the Certificateholders. The Rebate Fund is established for the additional purpose of
compliance with section 148 of the Code.
GTOWN/CO/2015: Ordinance 20
r ! �« -# !! • #. ;I t i' i ; - i!' . it .r - ; - - , - .
; �, •' - is • i i •• '� ri a ! ; ,a
i . ; i a- � -; - r • -i t • i •- _e ; r i;
counselif uch expenditu e tails to comply with eloregoing-Fo assure un-a-f-suc-n- T
not adversely affect the tax-exempt status of the Certificates. For purposes of this subsection, th
City shall not be obligated to comply with this covenantobtains an opinion of !
recognized bond counsel to the effect that such failure to comply will not adversely affect th
excludability for federal income tax purposes from gross income of the interest.
(e) Disposition ofProi ec . The City covenants that the property constituting the Proji e
i i' i a; ! - a #i `i i ,I , • • _ r ! i,
cas
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s ; {: ri • ; •� i
For purposes ;, this subsection,portion of the property comprising personal property . f
disposed of in the ordinary course shall not be treated as a transaction resulting in the receipt
cash or other compensation. For purposes of this subsection, the City shall not be obligated
comply with this covenant if it obtains an opinion of nationally-recognized bond counsel to t
effect that such failure to comply will not adversely affect the excludability for federal income t
purposes fro gross incomei.
f the interest.
Section 12. SALE OF CERTIFICATES. The Certificates are hereby sold to t
bidder !#! produced ` lowest true interest! pursuant to the taking of public r f
therefor, on this date, and shall be delivered to Robert W. Baird & Co., Inc. (the initial "Purchas
GTOVJNICO(2015: Ordinance 21
at a price of $7,155,082.12 (representing the par amount of the Certificates of $6,990,000 plus a
reoffering premium of $165,082.12). It is hereby officially found, determined and declared that
the terms of this sale are the most advantageous reasonably obtainable and are in the best interest
of the City. The Certificates shall initially be registered in the name of Southwest Securities, Inc.
Section 13. DEFAULT AND REMEDIES. (a) Events of Default. Each of the
iv-XP-Yr-,b-Y_declared to be an Event
MI*MIA*fg*eMf Me-Zr, 4
of Default. -
(1) the failure to make payment of the Principal Of Or interest on any of th
Certificates when the same becomes due and payable; or
(ii) default in the performance or observance of any other covenant, agreeme
or obligation of the City, the failure to perform which materially, adversely affects th
rights of the Re istered Owners of the Bonds, including, but not limited to, their prospe
9 m ce—withAhis--Oyfinan, e,.Ud Ae-zontimiation f]
.put, ti�. d6invzut ordan- - c, _-th
a period of 60 days after notice of such default is given by any Registered Owner to th
city.
(b) Remedies for Defaul.
(i) Upon the happening of any Event of Default, then and in every case, an,
Registered Owner or an authonized representative thereof, including, but not limited to,
trustee or trustees therefor, may proceed against the City, or any official, officer
4T ImiWc 114eir official ca: for the pur:.tQLq o
_,f Irotecting and enforcins
the rights of the Registered Owners under this Ordinance, by mandamus or other su*
action or special proceeding in equity or at law, in any court of competent jurisdiction,
any relief permitted by law, including the specific performance of any covenant
agreement contained herein, or thereby to enjoin any act or thing that may be unlawful
in violation of any right of the Registered Owners hereunder or any combination of su
f
remedies.
(ii) It is provided that all such proceedings shall be instituted and maintain
for the equal benefit of all Registered Owners of Certificates then outstanding.
(c) Remedies Not Exclusive.
W No remedy herein conferred or reserved is intended to be exclusive of any
other available remedy or remedies, but each and every such remedy shall be cumulative
and shall be in addition to every other remedy given hereunder or under the Bonds or now
provision of this Ordinance, the right to accelerate the debt evidenced by the Bonds shall
not be available as a remedy under this Ordinance.
(ii) The exercise of any remedy herein conferred or reserved shall not be
deemed a waiver of any other available remedy.
GTOWN/CO/2015: Ordinance 22
(iii) By accepting the delivery of a Bond authorized under this Ordinance, such
Registered Owner agrees that the certifications required to effectuate any covenants or
representations contained in this Ordinance do not and shall never constitute or give rise to
-z *ffiJ*WWpWf#1+7,,X,--!C�-* -t:vs�&-ev-kLthe
City or the City Council.
(iv) None of the members of the City Council, nor any other official or officer,
#1 e-t#QI*Xee of the Ciji,& shall be chargedjUersonall.) by the Registered Owners with
STM IM I I
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=ner provictect, nowever, tnat any imerea earnings oil Curulludw, PITOCCUI-s-Malcil are mkure's--ull
be rebated to the United States of America pursuant to Section 11 hereof in order to prevent the
Certificates from being arbitrage certificates shall be so rebated and not considered as interest
earnings for the purposes of this Section.
Section 15. APPROVAL OF PAYING AGENUREGISTRAR AGREEMENT,
LETTER OF REPRESENTATIONS AND OFFICIAL STATEMENT. Attached hereto as
Exhibit "A" is a substantially final form of Paying Agent/Registrar Agreement with an attached
Blanket Letter of Representations. Each the Mayor, the City Manager and the Chief Financial
—suclia-greement as necessar-s,, and are
further authorized to execute such agreement.
The City confirms execution of a Blanket Issuer Letter of Representations with DTC
establishing the Book -Entry -Only System which will be utilized with respect to the Certificates.
The City hereby approves the form and content of the Notice of Sale and Preliminary
Official Statement and Official Statement relating to the Certificates and Lmy addenda, sll,� le,�eitt
14 ILI
-------------
AW411. wow 1 11
W
GTOWN/CO/2015: Ordinance 23
statements of the City if audited financial statements of the City are then available, and (2) if not
[1,rovided as part of such financial information and operating data, audited financial statements of
the City, when and if available. Any financial statements to be provided shall be (i) prepared in
accordance with the accounting principles described in Exhibit "B"� hereto, or such other
quired to emblov from time to time pursuant to state
accounting principles as the City may be re
o -&-tort. zad i7t substantialli the form included in the official statement, and (ii) audited,
W646- "e- I
if-the-C-Ity-commissions aTIMLUIL 91:51A
period during which they must be provided. If the audit of such financial statements is not
complete within 12 months after any such fiscal year end, then the City shall file unaudited
financial statements within such 12 -month period and audited financial statements for the
applicable fiscal year, when and if the audit report on such statements becomes available.
if the City changes its fiscal year, it will notify the MSRB of the change (and of the date
of the new fiscal �!Aear end) prior to the next date by which the City otherwise would be required to
provide financial information and operating data pursuant to this Section.
The financial information and operating data to be provided pursuant to this Section may
be set forth in full in one or more documents or may be included by specific reference to any
documents provided to the MSRB pursuant to this Section shall be accompamied by identifying
information as prescribed by the MSRB.
(b) Event Notices. The City shall notify the MSRB, in an electronic forniat as
• the event, of any of the following events with respect to the Certificates:
A. Principal and interest payment delinquencies;
B. Non'payment related defaults, if material within the meaning of the federal
securities laws;
C. Unscheduled draws on debt service reserves reflecting financial difficulties;
D. Unscheduled draws on credit enhancements reflecting financial difficulties;
E. Substitution of credit or liquidity providers, or their failure to perform;
F. Adverse tax opinions, the issuance by the Internal Revenue Service of
proposed or final determinations of taxability, Notices of Proposed Issue
(IRS Form 5701-TEB) or other material notices or determinations with
respect to the tax-exempt status of the Certificates, or other events affecting
the tax-exempt status of the Certificates;
G. Modifications to rights of holders of the Certificates, if material within the
meaning of the federal securities laws;
GTOWN/CO/2015: Ordinance 24
H. Certificate calls, if material within the meaning of the federal securities laws
and tender offers;
1. Defeasances;
J. Release, substitution, or sale of property securing repayment of the
Certificates, if material within the meaning of the federal securities laws;
K. Rating changes;
L. Bankruptcy, insolvency, receivership or similar event of the City;
M. The consummation of a merger, consolidation, or acquisition involving the
City or the sale of all or substantially all of the assets of the City, other than
in the ordinary course of business, the entry into a definitive agreement to
undertake such an action or the termination of a definitive agreement
relating to any such actions, other than pursuant to its terms, if material
within the meaning of the federal securities laws; and ,
N. Appointment of a successor or additional trustee or the change of name of
a trustee, if material within the meaning of the federal securities laws.
The City shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a
timely manner, of any failure by the City to Provide financial information or operating data in
accordance with subsection (a) of this Section by the time required by such subsection. All
A Me -am MSRB Wsuant to this Section shall be accompanied by identifyin&
information as prescribed by the MSRB.
T111 I �Me#
and perform the covenants specified in—this-S—ection Tor so long as, OUL 0111_ It NO 1+11?, US, UIC %�-IL
remains an "obligated person" with respect to the Certificates within the meaning of the Rule,
except that the City in any event will give notice of any deposit made in accordance with Section
8 of this Ordinance that causes the Certificates no longer to be outstanding.
The provisions of this Section are for the sole benefit of the holders and beneficial owners
of the Certificates, and nothing in this Section, express Or implied, shall give any benefit or any
legal or equitable right, remedy, or claim hereunder to any other person. The City undertakes to
provide only the financial information, operating data, financial statements, and notices which it
h, a: . &&es-not-hereb,-unde-rt-al-,z-W-pmvide-
any other information that may be relevant or material to a complete presentation of the City's
financial results, condition, or prospects or hereby undertake to update any information provided
in accordance with this Section or otherwise, except as expressly provided herein. The City does
not make any representation or warranty concerning such information or its usefulness to a
decision to invest in or sell Certificates at any future date.
UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER
OR BENEFICIAL OWNER OF ANY CERTIFICATE OR ANY OTHER PERSON, IN
GTOVIN/CO/2015: Ordinance 25
"MSRB" means the Municipal Securities Rulemaking Board.
III I I I I 11111! If I I'll I I! F,1111111
1; 10 1111 1 W- tou-11
"SEC" means the United States Securities and Exchange Commission.
GTOWN/CO/2015: Ordinance 26
Section 17. AMENDMENT OF ORDINANCE. The City hereby reserves the night to
amend this Ordinance subject to the following terms and conditions, to -wit -
(a) The City may • time to time, without the consent of any holder, except as
otherwise required by paragraph (b) below, amend or supplement this Ordinance in order to (i)
il . tv d ec . or o-gissiovit in this Ordinance that does not materially adversely affect
sftait not materialty aciversely aftecT me interests ot Me nola7ers, �17) quatilY tills VOW1111, W11i it -C
the Trust Indenture Act of 1939, as amended, or corresponding provisions of federal laws from
time to time in effect, (v) obtain insurance or ratings on the Certificates, (vi) obtain the approval
of the Attorney General of the State Texas, or (vii) make such other provisions in regard to matters
or questions arising under this Ordinance as shall not be inconsistent with the provisions of this
Ordinance and that shall not in the opinion of the City's Bond Counsel materially adversely affect
the interests of the holders.
(b) Except as provided in paragraph (a) above, the holders of Certificates aggregating
are the subject of a proposed amendment shall have the right from time to time to approve any
&qgg"'?-Xy *r however, that
spiw 11#0! & I I
611146101
(1) Make any change in the maturity of any of the outstanding Certificates;
(2) Reduce the rate of interest borne by any of the outstanding Certificates;
(3) Reduce the amount of the principal of, or redemption premium, if any,
payable on any outstanding Certificates;
(4) Modify the terms of payment of principal or of interest or redemption
premium on outstanding Certificates or any of them or impose any condition with
respect to such payment; or
(5) Change the minimum percentage of the principal amount of any series of
Certificates necessary for consent to such amendment.
(c) if at any time the City shall desire to amend this Ordinance under this Section, the
City shall send by U.S. mail to each registered owner of the affected Certificates a copy of the
proposed amendment and cause notice of the proposed amendment to be published at least once
in a financial publication published in The City of New York, New York or in the State of Texas.
Such published notice shall briefly set forth the nature •. the proposed amendment and shall state
that a copy thereof is on file at the office of the City for inspection by all holders of such
Certificates.
GTOWN/CO/2015: Ordinance 27
I ARM*
provided for in this Section, and shall be conclusive and binding upon all future holders of the
same Certificate during such period. Such consent may be revoked at any time after six months
from the date of the publication of said notice by the holder who gave such consent, or by a
successor in title, by filing notice with the City, but such revocation shall not be effective if the
prior to the attempted revocation, consented to and approved the amendment,
Section 18. NO RECOURSE AGAINST CITY OFFICIALS. No recourse shall be
had for the •. of principal of • interest • any Certificates • for any claim based thereon
or on this Ordinance against any official of the City or any person executing any Certificates.
Section 19. FURTHER ACTIONS. The officers and employees of the City are hereby
authorized. emoowered and directed from time to time and at any time to do and perform all such
ledae—Qa-d •- in the name and under the corporate seal
I SIT
any insurance commitment letter or agreement or insurance policy and the Official Statement. In
addition, prior to the initial delivery of the Certificates, the Mayor, the City Manager or the Chief
Financial Officer of the City, the City Attorney and Bond Counsel are hereby authorized and
directed to apDrove any technical changes or corrections to this Ordinance or to any of the
instruments authorized and approved by this Ordinance necessary in order to (i) correct any
46wf
any ofthe national bond rating agencies or sausly requirements oi Lne -Dortu ITIN
the approval of the Certificates • the Texas Attorney General's •
in case any officer of the City whose signature shall appear on any Certificate shall cease
to be such officer before the delivery of such Certificate, such signature shall nevertheless be valid
and sufficient for all purposes the same as if such • had remained in • until such •'
GTOWN/CO/2015: Ordinance 28
4 A I
a
of the Certiticates and We pledge ot ad valorem taxes anct surp't f
under Sections 6 and 7 of this Ordinance, and such pledge is therefore valid, effective and
perfected. If Texas law is amended at any time while the Certificates are outstanding and unpaid
such that the pledize of ad valorem taxes and surplus net revenues granted by the City under
Sections 6 and 7 of this Ordinance is to be subject to the filing requirements of Chapter 9, Business
& Commerce Code, then in order to preserve to the registered owners of the Certificates the
perfection of the security interest in said pledge, the City agrees to take such measures as it
determines are reasonable and necessary under Texas law to comply with the applicable provisions
of Chapter 9, Business & Commerce Code and enable a filing to perfect the security interest in
said pledge to occur.
Section 27. PAYMENT OF ATTORNEY GENERAL FEE. The City hereby
authorizes the disbursement of a fee equal to the lesser of (i) one-tenth of one percent of the
GTOWN/CO/2015: Ordinance 29
ecuri le
The appropriate member of the City's staff is hereby instructed to take the necessary measures to
make this payment. The City is also authorized to reimburse the appropriate City Rinds for such
payment from proceeds of the Certificates.
GTOWNIC012015: Ordinance 30
IN ACCORDANCE WITH SECTION 1201.028, Texas Governnient Code, passed al
approved on the first and final reading on the 12th day of May, 2015.
Dale Ross, Mayor
City of Georgetown, Texas
Jess'
P retie, CitySecretary
APPROV D AS TO FO
Bridget Chapman, City horno
GTOWN/CO/2015: Ordinance Sig Pg CO Ord
1*114 111 li 0
A-1
GTOWN/CO/2015: Ordinance
The following information is referred to in Section 16 of this Ordinance.
The financial information and operating data with respect to the City to be -provided
Zac or
under the headings of the Official Statement referred to) below:
(t) Table 1 - Valuation, Exemptions and Ad Valorem Tax Debt;
(2) Table 2 - Taxable Assessed Valuations by Category'.
(3) Table 3 - Valuation and Ad Valorem Tax Debt History,
(4) Table 4 - Tax Rate, Levy and Collection History;
(5) Table 5 - Ten Largest Taxpayers;
(6) Table 8 - Pro -Forma Ad Valorem Tax Debi Service Requirements,
(7) Table 10 — Authorized by Unissued General Obligation Bonds- and
(8) Appendix B.
Accounting Principles
The accounting principles referred to in such Section are the accounting principl-
i_ a_i
tebed in the notes to the financial statements referred to in the paragraph above. I
GTOWN/CO/2015: Ordinance B -I