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HomeMy WebLinkAboutRES 020921-T - Mobility Bond ElectionRESOLUTION NO. OZO ZA .-f RESOLUTION CALLING A BOND ELECTION FOR MAY 1, 2021; MAKING PROVISIONS FOR CONDUCTING THE ELECTION; AND RESOLVING OTHER MATTERS RELATED TO SUCH ELECTION WHEREAS, pursuant to the provisions of Chapters 1251 and 1331, Texas Government Code, as amended, the Texas Election Code, as amended, and other related statutes the City Council of the City of Georgetown, Texas (the "City") is authorized to call an election in order to submit to the voters of the City a proposition regarding the issuance of general obligation bonds; and WHEREAS, the City Council deems it advisable to call a bond election for the proposition hereinafter stated to be held on the next uniform election date of May 1, 2021; and WHEREAS, the City is contracting with Williamson County (the "County") for the administration of the Election pursuant to an interlocal agreement with the County (the "Election Contract"); and WHEREAS, the County, acting through the Williamson County Elections Administrator (the "Elections Administrator") in accordance with the Election Contract will provide for the administration of the Election; WHEREAS, the placement of items on the ballot for the City's May 1, 2021 elections shall be in accordance with the Texas Election Code; and WHEREAS, it is hereby officially found and determined that the meeting at which this Resolution was 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 (the "Open Meetings Act"), and as further modified by an order issued by the Governor of the State of Texas on March 16, 2020, suspending certain provisions of the Open Meetings Act in light of his disaster proclamation issued on March 13, 2020, regarding the novel coronavirus (COVID- 19). THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS THAT: Section 1. Findings. The statements contained in the preamble of this Resolution are true and correct and adopted as findings of fact and operative provisions hereof. Section 2. Election Called; Polling Places. The Election shall be held in the City between the hours of 7:00 a.m. and 7:00 p.m. on May 1, 2021 ("Election Day"). The Election is to be conducted by the County, as provided by Chapter 271, Texas Election Code (the "Code") and the Election Contract. Voting for the Election on Election Day shall occur during the hours and at the designated polling places as set forth in Exhibit A attached hereto, which exhibit is hereby made a part hereof for all intents and purposes. Exhibit A shall be modified to include additional or different Election Day polling places required to conform to the Code and the Election Contract. Section 3. Early Voting. Early voting shall be administered by the County. Early voting by personal appearance shall begin in accordance with the Code on April 19, 2021 and conclude on April 27, 2021, and will be conducted at the Early Voting locations on the dates and at the times specified in Exhibit A attached hereto. Exhibit A shall be modified to include additional or different early voting polling places required to conform to the Election Contract and the Code. Section 4. Election Officials. The appointment of the Presiding Election Judges, Alternate Judges, Early Voting Clerks, the Presiding Judge of the early ballot board and other election officials for the Election shall be made by the Elections Administrator in accordance with the Election Contract and the Code. The Elections Administrator may employ other personnel necessary for the proper administration of the Election, including such part-time help as is necessary to prepare for the Election, to ensure the timely delivery of supplies during early voting and on Election Day, and for the efficient tabulation of ballots at the central counting station. The City Council of the City hereby authorizes the Mayor, the City Manager, and the City Secretary, to execute or attest on behalf of the City the Election Contract with the County. Section 5. Voting by Mail. Applications for voting by mail for all residents of the City shall submitted by personal delivery not later than April 16, 2021, or shall be mailed to the address below and received (not postmarked) by April 20, 2021. Applications for voting by mail shall be sent as follows: Postal Mail: Williamson County Elections PO Box 209 Georgetown, TX 78627 Commercial Carrier or Personal Delivery: Telephone: Fax: Email: Inner Loop Annex 301 SE Inner Loop, Ste 104 Georgetown, TX 78626 (512)943-1633 (512) 943-1634 BBM c@wi lco.org Section 6. Early Voting Ballots. An Early Voting Ballot Board shall be created to process early voting results of the Election and the Presiding Judge of the Early Voting Ballot Board shall be designated by the Elections Administrator. The Presiding Judge of the Early Voting Ballot Board shall appoint two or more additional members to constitute the Early Voting Ballot Board members and, if needed, the Signature Verification Committee members required to efficiently process the early voting ballots. Section 7. Qualified Voters. All qualified electors of and residing in the City, shall be entitled to vote at the election. Last day for eligible voters who are not yet registered to vote to submit their applications for registration is April 1, 2021. Section 8. Proposition. At the Election the following PROPOSITION shall be submitted in accordance with law: CITY OF GEORGETOWN, TEXAS SPECIAL ELECTION CITY OF GEORGETOWN, TEXAS PROPOSITION A "Shall the City Council of the City of Georgetown, Texas, be authorized to issue bonds of the City, in one or more series or issues, in the aggregate principal amount of $90,000,000 with the bonds of each such series or issues, respectively, to mature serially within not to exceed twenty-five years from their date, and to be sold at such prices and bear interest at such rates, as shall be determined within the discretion of the City Council, in accordance with law at the time of issuance, for the purpose of constructing, improving, extending, expanding, upgrading and/or developing transportation projects for streets, roads, bridges, and intersections, including SE Inner Loop, Shell Road, Williams Drive, DB Wood Drive, Leander Road, Austin Avenue, Rockride Lane, and Westinghouse Road, and also including related utility relocation, sidewalks, traffic safety and operational improvements, the purchase of any necessary rights -of -way, design costs, drainage and other related costs; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes on all taxable property in the City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay the bonds at maturity?" Section 9. Ballots. The official ballots for the Election shall be prepared in accordance with the Code so as to permit the electors to vote "FOR" or "AGAINST" the aforesaid PROPOSITION with the ballots to contain such provisions, markings and language as required by law, and with such PROPOSITION to be expressed substantially as follows: CITY OF GEORGETOWN, TEXAS SPECIAL ELECTION CITY OF GEORGETOWN, TEXAS PROPOSITION A THE ISSUANCE OF $90,000,000 BONDS BY THE CITY OF GEORGETOWN, TEXAS, FOR TRANSPORTATION PROJECTS FOR ) FOR STREETS, ROADS, BRIDGES, AND INTERSECTIONS, INCLUDING SE INNER LOOP, SHELL ROAD, WILLIAMS DRIVE, AGAINST ) DB WOOD DRIVE, LEANDER ROAD, AUSTIN AVENUE, ROCKRIDE LANE, AND WESTINGHOUSE ROAD. TAXES SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS WILL BE IMPOSED. Section 10. Compliance with State and Federal Law. In all respects, the Election shall be conducted in accordance with the Code, the July Election Proclamation and any future proclamations of the Governor impacting the Election. Pursuant to the federal Help America Vote Act ("HAVA") and the Code, at each polling place there shall be at least one voting system that is equipped for disabled individuals, and each such voting system shall be a system that has been certified by the Texas Secretary of State as compliant with HAVA and the Code. The City hereby finds that the voting system to be used by the Elections Administrator in administering the Election is such a system, and orders that such voting equipment or other equipment certified by the Texas Secretary of State shall be used by the City in its elections. Section 11. Debt Obligations. The following information is provided in accordance with the provisions of Section 3.009(b) of the Code. hereof. (a) The proposition language that will appear on the ballot is set forth in Section 9 (b) The purpose for which the bonds are to be authorized is set forth in Section 8 hereof. (c) The principal amount of the debt obligations to be authorized is set forth in Sections 8 and 9 hereof. (d) If the bonds are approved by the voters, the City Council will be authorized to levy annual ad valorem taxes, on all taxable property in the City, sufficient, within the limits prescribed by law, to pay the principal of and interest on the bonds and the cost of any credit agreements executed in connection with the bonds. (e) Based upon the bond market conditions at the date of adoption of this Resolution, the maximum interest rate for any series of the bonds is estimated to be 3.80%. Such estimate takes into account a number of factors, including the issuance schedule, maturity schedule and the expected bond ratings of the proposed bonds. Such estimated maximum interest rate is provided as a matter of information but is not a limitation on the interest rate at which the bonds, or any series thereof, may be sold. (f) If the bonds are approved, they may be issued in one or more series, to mature serially, over a period not to exceed 25 years from the date of issuance of each series of bonds. (g) The aggregate amount of the outstanding principal of the City's debt obligations secured by and payable from ad valorem taxes as of the date of this Resolution is $222,670,000. (h) The aggregate amount of the outstanding interest of the City's debt obligations secured by and payable from ad valorem taxes as of the beginning as of the date of this Resolution is $61,225,475. (i) The ad valorem debt service tax rate for the City as of the date of this Resolution is $0.224818 per $100 of taxable assessed valuation. The information provided in this section is solely for purposes of compliance with Section 3.009(b) of the Code and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters. Section 12. Posting and Publication Requirements. The City Secretary is authorized to give or cause to be given notices required for the election, and to take such other and further action as is required to conduct the election in compliance with the Code and City Charter; provided that, pursuant to the Election Contract, the applicable election officials of the County shall have the duty and be responsible for organizing and conducting the election in compliance with the Code; and for providing all services specified to be provided in the Election Contract. The applicable election officials of the County shall give the notices required by the Code to be given for the election not required to be given by the City under the Election Contract. In accordance with provisions of the Code, the form of voter information document pertaining to the proposition to be voted on at the Election is attached hereto as Exhibit "B" (the "Voter Information Document"). A substantial copy of this Resolution and the Voter Information Document (each as may be modified without further City Council action in a manner that is consistent with the calling of the Election and the election notice requirements of the Code applicable to the Election, including any proclamations by the Governor) shall serve as proper notice of the election and the voter information document required by Section 1251.052(b), Texas Government Code, respectively. The City Secretary is authorized to give or cause to be given the following to be posted and published in accordance with law: (a) A substantial copy of this Resolution, with such omissions authorized by law, shall be published in a newspaper of general circulation in the City, on the same day in each of two successive weeks with the first publication occurring not earlier than the thirtieth (30th) day or later than the fourteenth (14th) day prior to the day of the Election; (b) This Resolution and the Voter Information Document shall be posted not later than the 21 st day prior to the date set for the Election (i) on the bulletin board used for posting notices of meetings of the City Council (and also at City Hall if such bulletin board is located elsewhere) and (ii) at three other places in the City; (c) This Resolution and the Voter Information Document shall be posted on election day and during early voting by personal appearance, in a prominent location at each polling place; and (d) This Resolution, the Voter Information Document and any sample ballot prepared for the Election shall be posted during the 21 days before the election, prominently on the City's Internet website. Each of this Resolution and the Voter Information Document shall be published and/or posted, as provided above, in both English and Spanish translations. All notices provided as required by this Resolution shall be modified as necessary to take into account any future proclamations issued by the Governor impacting the Election. PASSED AND APPROVED on this the 9th day of February, 2021. ATTEST: Robyn De smote, City Secretary APPROVED AS TO FORM: - 44r3►i ']cyc"as+n, City Attorney CITY OF GEORGETOWN, TEXAS Josh c ocder, Ma EXHIBIT A POLLING LOCATIONS DATES AND HOURS To be provided by Williamson County pursuant to the Election Contract EXHIBIT B FORM OF VOTER INFORMATION DOCUMENT Voter Information Document— CRY ai'Geormetown,_Texas _Special Election Proposition A Ballot Information: At the Election, the following language will appear on the ballot: CITY OF GEORGETOWN, TEXAS SPECIAL ELECTION CITY OF GEORGETOWN, TEXAS PROPOSITION A THE ISSUANCE OF $90,000,000 BONDS BY THE CITY OF GEORGETOWN, TEXAS, FOR TRANSPORTATION PROJECTS FOR FOR STREETS, ROADS, BRIDGES, AND INTERSECTIONS, INCLUDING SE INNER LOOP, SHELL ROAD, WILLIAMS DRIVE, DB WOOD DRIVE, AGAINST LEANDER ROAD, AUSTIN AVENUE, ROCKRIDE LANE, AND WESTINGHOUSE ROAD. TAXES SUFFICIENT TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS WILL BE IMPOSED. Estimated Debt Service Information: The following table sets forth the estimated principal amount of, and interest due to maturity on, the bonds to be issued if Proposition A passes, and all outstanding obligations of the City secured by and payable from ad valorem taxes. Principal Estimated Estimated Principal of Remaining Combined Amount of interest for combined principal City's Existing interest on Principal and Bonds to be Bonds to be and interest Outstanding City's Existing Interest to timely authorized authorized required to pay on Debt Outstanding pay City's under under time and in full the (as of February Debt Existing Proposition A Proposition AM Bonds to be 9, 2021)0) (as of Outstanding authorized under February 9, Debt Proposition A0)(2) 2021)0) (as of February 9, 2021) (3) $90,000,000 11 $35,546,348 1 $125,546,348 1 $222,670,000 1 $61,225,475 1 $2831895,475 Interest on the proposed bonds under Proposition A has been estimated at a weighted average interest rate of 3.33%, for illustration purposes only, based on market conditions as of February 9, 2021, and therefore, the actual interest payable on such proposed bonds may be less than, or more than, the amounts set forth above based on market conditions at the time of sale of the proposed bonds to be authorized under Proposition A. (2) Assumes the proposed bonds under Proposition A will be sold at their par amount of $90,000,000. If Proposition A is approved by the voters, upon the actual sale of the bonds, the principal amount of bonds sold may decrease based on market conditions at the time of such sale. c3� Aggregate of all outstanding obligations of the City secured by and payable from ad valorem taxes as of the date of February 9, 2021. Such amount also includes obligations which the City currently intends to pay from sources other than ad valorem taxes but that could be paid from ad valorem taxes if such other sources are not available at the time required for payment. Based on the information and assumptions provided in the table above, the estimated maximum annual increase in the amount of ad valorem taxes that would be imposed on a residence homestead in the City with a taxable appraised value of $100,000 to repay the proposed bonds to be authorized under Proposition A is $28.50. This estimate (i) assumes annual growth of the City's taxable assessed valuation at a rate of 7% through tax year 2046 and holds the City's taxable assessed valuation constant thereafter, (ii) assumes the proposed bonds will be issued in an amortization that will produce relatively consistent levels of debt service in each year and (iii) assumes the issuance of an additional $32,800,000 in principal amount of debt obligations to be paid from ad valorem taxes that are anticipated to be sold by the City prior to the May 2021 election. The information provided in this Document is solely for purposes of compliance with Section 1251.052 of the Texas Government Code and is for illustration purposes only. The information is not a part of the proposition to be voted on and does not create a contract with the voters.