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Home My WebLink AboutRES 022619-P - Intent to Issue COsRESOLUTION NO. � 0Jq' P 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 THE STATE OF TEXAS § CITY OF GEORGETOWN § COUNTY OF WILLIAMSON § WHEREAS, the City Council (the "Council") ofthe 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 $22,408,000 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\2019: Notice Res 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, the City's Finance Director and the City's Treasurer 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 ofthe 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\CO\2019: Notice Res 2 RESOLVED this 26th day of February, 2019. ATTEST: UiAAA 1) k A . K A Robyn lAnsmori, City Secretary APPROVED AS TO FORM: Charlie McNabb, City Attorney Georgetown\CO\2019: Notice Res SigPg CITY OF GEORGETOWN, TEXAS 4XV6 &�ii 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 public safety vehicles and equipment, including fire trucks, police vehicles, and related equipment; (2) acquiring and upgrading City radio communication equipment; (3) acquiring and upgrading self-contained breathing apparatus fire safety equipment; (4) constructing, improving, renovating and expanding City downtown parking, including a parking garage; (5) constructing, improving, renovating, expanding and equipping fire stations, including easements and right of way; (6) constructing, improving, renovating, expanding and equipping City parks facilities, including Berry Creek Park, adding additional parking at VFW Park and parking and sidewalk improvements at Blue Hole Park; (7) constructing, improving, expanding and renovating the City's municipal airport, including runway improvements, design and rehabilitation; (8) design, constructing, improving, and expanding the City's solid waste and recycling transfer facilities; (9) constructing, improving, extending, expanding and upgrading stormwater drainage improvements, including curb and gutter improvements and acquiring and/or upgrading stormwater drainage equipment; and (10) 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, p.m., on the 23th day of April, 2019 at Council Chambers, 510 W. 9th 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 2019; 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 $22,408,000. 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\2019: Notice Res A-1 RESOLVED this 26th day of February, 2019. ATTEST: Robyn De more, City Secretary APPROVED AS TO FORM: f Charlie McNabb, City Attorney Georgetown\CO\2019: Notice Res SigPg CITY OF GEORGETOWN, TEXAS 6 V& Dale Ross, Mayor CERTIFICATE FOR RESOLUTION NO. Q'Z 6 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 26TH DAY OF FEBRUARY, 2019, 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 Anna Eby, Mayor Pro Tem, Councilmember District 1 Valerie Nicholson, Councilmember District 2 John Hesser, Councilmember District 3 Steve Fought, Councilmember District 4 Kevin Pitts, Councilmember District 5 Rachel Jonrowe, Councilmember District 6 Tommy Gonzalez, Councilmember District 7 and all of the persons were present, except the following absentees: :N / Ar , 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: Z- 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 Council's minutes of the Meeting; that the 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 Resolution; that the persons named in the above and Georgetown\CO\2019: NoticeResCert 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\2019: NoticeResCert SIGNED AND SEALED the 26th day of February, 2019. City Secre ry [CITY SEAL] Georgetown\CO\2019: NoticeResCert (14c'z ( � L Mayor