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Home My Public Portal AboutResolution No. 280-06 09-26-2006 RESOLUTION NO. 280-06 • RESOLUTION OF THE CITY OF RICHLAND HILLS, TEXAS AUTHORIZING THE CITY'S CONSULTANTS AND STAFF TO PREPARE FOR THE ISSUANCE AND SALE OF PUBLIC PROPERTY FINANCE CONTRACTUAL OBLIGATIONS WHEREAS, pursuant to the Public Property Finance Act, Texas Local Government Code §§271.001 through 271.009, inclusive, as amended, the City Council (the "City Council") of the City of Richland Hills, Texas (the "City") is authorized to issue public property finance contractual obligations ("public property finance contractual obligations" or "obligations") for the purchase or other acquisition of personal property; and WHEREAS, the City Council has determined that it is in the best interest of the City to issue obligations for the purpose of providing funds for the acquisition of a fire truck; and WHEREAS, in furtherance of such determination, the City Council desires that the City's financial consultant, bond counsel and appropriate professional staff of the City take such action as is necessary to prepare for the issuance and sale of such obligations; Now, Therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RICHLAND HILLS, TEXAS: Section 1. (a) Southwest Securities, the City's Financial Advisor, McCall, Parkhurst & Horton L.L.P., the City's Bond Counsel, and the appropriate professional staff of the City are each hereby • authorized and directed to prepare such documentation as is necessary for the issuance and sale of public property finance contractual obligations by the City. The City's Financial Advisor, in consultation with City staff, is hereby authorized and directed to seek an offer for the purchase of such obligations. (b) The terms offered for the purchase of the obligations and the project to be funded with the proceeds of said obligations, all to be set forth in the documentation prepared for the issuance and sale of the obligations, shall be presented to the City Council for its review and approval, it being expressly stated and understood that it shall be within the sole authority and discretion of the City Council to authorize and approve the issuance and sale of the obligations and the terms thereof. Section 2. This Resolution shall be effective immediately upon its adoption. Passed and approved this September 26, 2006 a ,City of Richland Hi is exas \\`~~~~~n i n i ~ w~i~~~~~ ATTEST• ,,~,.~~~~HI.~NQ .~~o~c '~'i ~ ' l~cn C~ y Secretary, City of Richland Hills, Texas =w ~ / ' ~,i~innnm~a CERTIFICATE FOR RESOLUTION • THE STATE OF TEXAS § COUNTY OF TARRANT § CITY OF RICHLAND HILLS § We, the undersigned officers of the City of Richland Hills, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "City Council") convened in REGULAR MEETING ON THE 26~' DAY OF SEPTEMBER, 2006 (the "Meeting"), and the roll was called of the duly constituted officers and members of the City Council, to-wit: David Ragan Mayor Jeff Ritter Mayor Pro-Tem Douglas Bell Phil Heinze Don Acker Mike Sloan Councilmembers Kim Sutter f City Secretary and all of such persons were present, except ~~I ~ I-~ 2 i N ~ ,thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a written • RESOLUTION OF THE CITY COUNCIL OF RICHLAND HILLS, TEXAS, AUTHORIZING THE CITY'S CONSULTANTS AND STAFF TO PREPARE FOR THE ISSUANCE AND SALE OF PUBLIC PROPERTY FINANCE CONTRACTUAL OBLIGATIONS was duly introduced for the consideration of the City Council and read in full (the "Resolution"). It was then duly moved and seconded that the Resolution be adopted; and, after due discussion, the motion, carrying with it the adoption of the Resolution, prevailed and carved by the following vote: AYES: All members of the City Council shown present above voted "Aye", except as shown below. NOES: /./o n/E ABSTAIN: N a ~/e 2. That a true, full, and correct copy of the Resolution adopted at the Meeting 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 paragraph is a true, full, and correct excerpt from the City Council's minutes of the Meeting pertaining to the adoption of the Resolution, that the persons named in the above and foregoing paragraph 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 adoption at the Meeting, and each of said officers and members consented, in advance, to the holding of the Meeting 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 Chapter551, Texas Government Code. 3. That 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. 4. That the Resolution has not been modified, amended or repealed and is in full force and effect on and as of the date hereof. SIGNED AND SEALED this City ecretary, City of Richland Hills ayor, City of Richland s (SEAL) `\`~~~~~ununi~~~~~~ o ~ a= v' ~ y' 3. That 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. 4. That the Resolution has not been modified, amended or repealed and is in full force and effect on and as of the date hereof. SIGNED AND SEALED this G'~ City ecretary, City of Richland Hills a r, City of Richland Hills (SEAL) \\~~.~+~~~~u n i mui,,~ ~ y ~ v ~ LAW OFFICES MSCALL, PARKHURST ~ NORTON L.L.P. • 600 CONGRESS AVENUE 717 NORTH HARWOOD 700 N. ST. MARY'S STREET 1250 ONE AMERICAN CENTER NINTH FLOOR 1525 ONE RIVERWALK PLACE AUSTIN, TEXAS 78701-3248 DALLAS, TEXAS 75201-6587 SAN ANTONIO, TEXAS 7 8205-3503 TELEPHONE: 512 478-3805 TELEPHONE: 214 754-9200 TELEPHONE: 210 225-2800 FACSIMILE: 512 472-0871 FAC$IM ILE: 214 754-9250 FAC$I MILE: 210 225-2984 September 21, 2006 UPS Overnight Ms. Barbara Mann Director of Finance City of Richland Hills 3200 Diana Drive Richland Hills, Texas 76118 Re: City of Richland Hills Public Property Finance Contractual Obligations, Series 2007 Dear Barbara: We enclose seven (7) execution copies of the Resolution, together with one complete copy of the . Certificate for Resolution, and seven (7) signature pages. Please have the Resolutions and Certificates signed and sealed as indicated and then mail them back to us. We would also appreciate your handwriting in the Resolution Number on the post-it note provided and we will then type it manually on each Resolution. For the Certificate of Resolution, please handwrite in any absentees and the vote in the spaces provided. We will type that information in on our computer version and replace that page. In the meantime, if you have any questions on this letter or the enclosed, please feel free to call me. Very truly yours, McCALL, PARKHURST & NORTON L.L.P. By: Sara A. Tangen SAT/dms Enclosures •