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Home My Public Portal AboutResolution No. 452-15 12-01-2015RESOLUTION NO.452-15 RESOLUTION DIlZECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION THE STATE OF TEXAS COUNTY OF TARRANT CITY OF RICHLAND HILLS WHEREAS, this City Council deems it advisable to give notice of intention to issue combination tax and revenue certificates of obligation of the City of Richland Hills, Texas, as hereinafter provided; and WHEREAS, it is hereby officially found and determined that the meeting at which this Resolution was passed was open to the public and public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RICHLAND HILLS, TEXAS: 1. Attached hereto is a form of the Notice of Intention to Issue Combination Tax and Surplus Revenue Certificates of Obligation of the City of Richland Hills, Texas, the form and substance of which is hereby adopted and approved. 2. The City Secretary shall cause said notice to be published in substantially the form attached hereto, in a newspaper, as defined by Subchapter C, Chapter 2051, Texas Government Code, of general circulation in the area of said City, once a week for two consecutive weeks, the date of the first publication thereof to be at least 30 days prior to the date tentatively set for the adoption of the ordinance authorizing the issuance of such certificates of obligation as shown in said notice. 3. This Resolution shall become effective immediately upon adoption and it is so resolved. PASSED AND APPROVED THIS 1sT DAY OF DECEMBER, 2015. ATTEST: ~~, Cathy Bourg, ~C ty Secretary CITY OF RICHLAND HILLS, TEXAS Bill Agan, Mayo \~~~~~u ~ n i u u~u,~i `\\\,~~~~i~ ~~ Np ~r,,,,i .~= ~~~ ~~ ~~\ ~. ~~~~nu~n~ni~~~~~~~ Exhibit A CITY OF RICHLAND HILLS, TEXAS NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that the City Council of the City of Richland Hills, Texas, at its meeting to commence at 7:00 P.M. on December 1, 2015, at its regular meeting place in the City Hall, 3200 Diana Drive, Richland Hills, Texas, tentatively proposes to adopt an ordinance authorizing the issuance of interest bearing certificates of obligation, in one or more series, in an amount not to exceed $5,000,000, for paying all or a portion of the City's contractual obligations incurred pursuant to contracts in connection with the purchase, construction and acquisition of certain real and personal property for capital improvements and parks, to wit: (i) a recreation and community activity center and a surrounding green/park space, including constructing, installing, acquiring and equipping additions, extensions, renovations and improvements, including to the City's waterworks and sewer system, and related site preparation and improvement, drainage, utility infrastructure, landscaping, lighting and signage for said projects, and the acquisition of land and interests in land and properties therefor; and (ii) for the purpose of paying all or a portion of the City's contractual obligations for professional services, including engineers, architects, attorneys, map makers, auditors, and financial advisors, and other professionals in connection with such projects and said Certificates of Obligation. All costs to be reimbursed pursuant to this Resolution will be capital expenditures; the proposed Certificates of Obligation shall be issued within 18 months of the later of (i) the date the expenditures are paid or (ii) the date on which the property, with respect to which such expenditures were made, is placed in service; and the foregoing notwithstanding, the Certificates of Obligation will not be issued pursuant to this Resolution on a date that is more than three years after the date any expenditure which is to be reimbursed is paid. The City 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 a pledge of limited surplus revenues of the City's waterworks and sewer 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 waterworks and sewer system. The certificates of obligation are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271. CITY OF RICHLAND HILLS, TEXAS City of Richland Hills, Texas General Obligation Bonds, Series 2016 Combination Tax & Waterworks & Sewer System Revenue Certificates of Obligation, Series 2016 11/5/2015 Account#:0209-010 Preliminary Schedule of Events Nov-IS S M T W T F S l E 2 i -- - ~~~ ~~~ 3 1 4 - -~----- 5 +------ i 6 i 7 ------ ---- ! 8 9 _. ~ ~ ' 0 ~ I l 12 _ ` ` 13 _I 14 l5 16A 17':18~1 19 20:21 22:23 -- - 24 i 25 i ---a-----< 26 ----- 27 28 ---- ------ 29 30 r : i Dec-15 S M T W T F S - -- EII213' -- -- -- - -- - -' - 4 - - - 15 -- - ~ ' ~ ? 8 ` 'O r 9 ~ ~ i 12 I4 15;16;17 20 ';21 122. ' 251 -~~ 26 27 28 29.30 3l ' _. Feb-16 S M T W T F S __ __ 1 _'' __ ~_ . 3... .4~ ` ~ `r 7 , 8 ~ 9 i LO II 12 ~~, 13 l 4 I S i 16 ; 17 18 l 9 i 20 21 :22;23 124 25;26 ~27 28 :29' Jan-16 S M T W T F S i I 2 3 4 ~ S i 6 7 8 9 10 I I i 12 i 13 _ 14_ ;_ IS i 16 17 -- - I S - - 119 - --- 20 - ---- 2l ' - - - 22 23 ------'----- ' 6 r : 7 28 i 29 ! 30 -- 31 , Mar-l6 S M T W T F S -- -- i -- -i l i 2 .;.. . -° 3 ... .. 4 .. . 5 . . fi ~~ 7 ~ ~ g 9 .-- 10 t ~ ~ Z 13 14 IS ; 16 -- i 17 ! 18 - l9 - _20 1, 21 ! 22 23 ~~ .'~; 24 __ 25 __ 2fi ~ 27'_ 28 '• 29' 30 i 3l ___ -_~ _.___. Completed By Day Event 16-Nov-15 Monday First Southwest requests information for preparation of the Official Statement 30-Nov-I S Monday First Southwest receives requested information. First Southwest begins preparation of the Official Statement 7-Dec-15 Monday Draft Official Statement distributed to the City and Bond Counsel for comments 1-Dec-15 Tuesday City Council meeting to authorize publication of Notice of Inteut 7-Dec-IS Monday 1st Notice of Intent published 16-Dec-l5 Wednesday First Southwest receives comments on Official Statement 18-Dec-15 Friday Distribute POS to Rating Agency 14-Dec-15 Monday 2nd Notice of Intent published Week of Jan . 4th -Jan. 8th Rating Conference Call /Meeting 19-Jan-16 Tuesday Receive Rating 22-Jan-16 Friday Electronically mail Official Statement to Potential Purchasers 2-Feb-16 Tuesday Pricing 2-Feb-16 Tuesday City Council passes Ordinance authorizing issuance of the Bonds and Certificates 3-Mar-16 Thursday Bonds and Certificate Closing and Delivery of Funds to the City Bold Indicates Council or Staff action Prepared by: First Southwest Company