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Home My Public Portal AboutResolution No. 461-16 03-01-2016RESOLUTION NO. `T (..o ~ - ~ (~ RESOLUTION DIRECTING 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 MARCH, 2016. CITY OF RICHLAND HILLS, TEXAS By: i 1 Agan, Mayor ATTEST: C~ ~ Cathy Bourg, Ci Secretary \\\\1111111111!/!// ~~ _ ... . 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 April 5, 2016, 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 limited pledge (not to exceed $1,000) of the surplus revenues from the operation 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 heretofor or hereafter incurred, which are payable from all or any part of the surplus 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 CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS COUNTY OF TARRANT CITY OF RICHLAND HILLS I, the undersigned officer of said City, hereby certify as follows: 1. The City Council of said City convened in regular meeting on the 1ST day of March, 2016, at the City Hall, and the roll was called of the duly constituted officers and members of said City Council, to-wit: Bill Agan, Mayor Edward Lopez, Mayor Pro Tem Roland Goveas Robert Desoto Allison Barrette Beverly Williams and all of said persons were present, except - thus constituting a quorum, Whereupon, among other business, the following was tr nsacted at said Meeting: a written Resolution entitled RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION was duly introduced for the consideration of said City Council. It was then duly moved and seconded that said Resolution be passed; and, after due discussion, said motion carrying with it the passage of said Resolution, prevailed and carried by the following vote: AYES: ~ NOES: L~~ ABSTENTIONS: _(~ 2. That a true, full and correct copy of the aforesaid Resolution passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, of the rime, place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting 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. SIGNED AND SEALED the 1 ST day of March, 2016. \\~~~~~Hiuun~irry~i // •• ~~ -. `~;-~ ~' (CITY SEALS c3~ (~ ~~ i ~; C Cathy Bourg, C~ Secretary City of Richlan ills, Texas