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HomeMy WebLinkAboutORD 2012-31 - GO Bonds to Shorten Maturity DatesCERTIFICATE FOR ORDINANCE NO. 2012-31 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 22ND DAY OF MAY, 2012, 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: George Garver, Mayor Patty Eason, Mayor Pro Tem, Councilmember District 1 Troy Hellmann, Councilmember District 2 Danny Meigs, Councilmember District 3 Bill Sattler, Councilmember District 4 Jerry Hammerlun, Councilmember District 5 Rachael Jonrowe, Councilmember District 6 Tommy Gonzalez, Councilmember District 7 and all of the persons were present, except the following absentees: none, thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a written ORDINANCE AMENDING ORDINANCE NO. 2012-24, WHICH AUTHORIZED THE CITY OF GEORGETOWN, TEXAS GENERAL OBLIGATION BONDS, SERIES 2012, TO SHORTEN THE FINAL MATURITY DATE OF SUCH BONDS 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: 7 NOES: 0 2. A true, full and correct copy of the Ordinance passed at the Meeting described in the above and foregoing paragraphs is attached to and follows this Certificate; that the Ordinance 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 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 GTOWN\GO\I 2: AmendingOrdinanceCert 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 551, 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\GO\12: AmendingOrdinanc e C err SIGNED AND SEALED the 22nd day of May, 2012. City [CITY SEAL] GTOWN~GO\I 2: Am endingOrdinaneeCer t ORDINANCE NO. 2012-31 ORDINANCE AMENDING ORDINANCE NO. 2012-24, WHICH AUTHORIZED THE CITY OF GEORGETOWN, TEXAS GENERAL OBLIGATION BONDS, SERIES 2012, TO SHORTEN THE FINAL MATURITY DATE OF SUCH BONDS Adopted May 22, 2012 GTOWN~GO\I 2: AmendmgOrdinance ORDINANCE NO. 2012-31 ORDINANCE AMENDING ORDINANCE NO. 2012-24, WHICH AUTHORIZED THE CITY OF GEORGETOWN, TEXAS GENERAL OBLIGATION BONDS, SERIES 2012, TO SHORTEN THE FINAL MATURITY DATE OF SUCH BONDS THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF GEORGETOWN WHEREAS, on April 24, 2012 the City Council of the City of Georgetown, Texas (the "City") adopted Ordinance No. 2012-24 (the "Original Ordinance"), which authorized the issuance of the City’s General Obligation Bonds, Series 2012 (the "Bonds") and approved the delivery of the Bonds to BOSC, Inc. (the "Initial Purchaser"); WHEREAS, the City Council hereby desires to amend the Original Ordinance as set forth herein to revise the final maturity date of the Bonds from August 15, 2037 to February 15, 2037 in order to conform such maturity to the proposition authorizing the Bonds approved by the voters at an election held within the City on May 14, 2011; WHEREAS, the Initial Purchaser has agreed to such amended final maturity date, and the City desires that the Bonds authorized by the Original Ordinance with the revision to the final maturity date contemplated herein be delivered to the Initial Purchaser on May 30, 2012 or such other date as both parties agree is practicable; and WHEREAS, it is hereby officially found and determined that the meeting at which this Ordinance was passed 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. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF GEORGETOWN, TEXAS: Section 1. The Original Ordinance is hereby amended such that all references to the final maturity date of the Bonds set forth therein, including but not limited to the references set forth in the Form of Bond, are revised from August 15, 2037 to be February 15, 2037, and no provision in the Original Ordinance shall be construed in any manner to the contrary. Section 2. The award of the Bonds to the Initial Purchaser is hereby reconfirmed with the revised maturity date contemplated hereby resulting in a revised purchase price for the Bonds of $12,503,501.05 (representing the par amount of the Bonds of $12,500,000 plus a reoffering premium of $3,501.05), being a $1,214.40 reduction in the reoffering premium to be paid to the City. Section 3. Except as contemplated herein with respect to the amendment of the final maturity date of the Bonds, the Original Ordinance remains in full force and effect and the GTOWN~GO\I 2: AmendingOrdinance Original Ordinance is hereby ratified and reaffirmed in all respects not in conflict with this Ordinance. Section 4. The officers and employees of the City are hereby authorized, empowered and directed from time to time and at any time to do and perform all such acts and things and to execute, acknowledge, deliver, and amend as necessary in the name and under the corporate seal and on behalf of the City all such instruments, whether or not mentioned in the Original Ordinance, as may be necessary or desirable in order to carry out the terms and provisions of the Original Ordinance as amended by this Ordinance, the Bonds and the sale and delivery of the Bonds, including the preparation and distribution of a supplement to the Official Statement detailing the revised final maturity date of the Bonds. In addition, prior to the initial delivery of the Bonds, the Mayor, is hereby authorized and directed to approve any 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 ambiguity or mistake or properly or more completely document the transactions contemplated and approved by this Ordinance and the Original Ordinance and as described in the Official Statement or (ii) obtain the approval of the Bonds by the Texas Attorney General’s office. Section 5. The City Council hereby finds that the enactment of this Ordinance and issuance of the Bonds complies with the Vision Statement of the City. Section 6. The City hereby finds that the statements set forth in the recitals of this Ordinance are true and correct, and the City hereby incorporates such recitals as a part of this Ordinance. Section 7. The provisions of this Ordinance are severable; and in case any one or more of the provisions of this Ordinance or the application thereof to any person or circumstance should be held to be invalid, unconstitutional, or ineffective as to any person or circumstance, the remainder of" this Ordinance nevertheless shall be valid, and the application of any such invalid provision to persons or circumstances other than those as to which it is held invalid shall not be affected thereby. Section 8. No recourse shall be had for the payment of principal of or interest on the Bonds or for any claim based thereon or on this Ordinance against any official of the City or any person executing any Bonds. Section 9. This Ordinance shall become effect immediately from and after its passage on first and final reading in accordance with Section 1201.028, Texas Government Code, as amended. GTOWN\GO\I 2: AmendingOrd~nanee 2 IN ACCORDANCE WITH SECTION 1201.028, Texas Government Code, passed and approved on the first and final reading on the 22nd day of May, 2012. THE CITY OF GEORGETOWN: G e~~ ~g ~t~tUGarv ~r,~Mayo~~r City of Georgetown, Texas ATTEST: City APPROVED AS TO FORM: Bridget Chapman,XCity Ati~rney - GTOWN~GO\ 12: AmendingOrdinanee Amendin gO rd S i gP g