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RESO 2001-21 - Combination TaxRESOLUTION NO. 2001-21 RESOLUTION DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2001; APPROVING A PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING DISTRIBUTION OF SUCH PRELIMINARY OFFICIAL STATEMENT AND OTHER MATTERS RELATED THERETO THE STATE OF TEXAS COUNTY OF WALKER CITY OF HUNTSVILLE WHEREAS, the City Council (the "Council") of the City of Huntsville, Texas (the "City") finds that the payment in whole or in part of contractual obligations incurred or to be incurred for public improvements within the City, to-wit: (1) constructing, improving and equipping a golf course and related infrastructure and improvements to be located at 457 IH 45 South and (2) the payment of professional services in connection therewith including legal, fiscal, and engineering fees and the costs of issuance in connection with the Certificates described below (the "Contractual Obligations") would be beneficial to the inhabitants of the City and are needed to perform essential City functions; and 'WHEREAS, the Council has deemed it advisable to give notice of intention to issue certificates of obligation in a maximum principal amount not to exceed $5,000,000 (the "Certificates") pursuant to the provisions of the Certificate of Obligation Act of 1971, Section 271.041 et seq., Local Government Code (the "Act") for the purpose of financing the Contractual Obligations; and WHEREAS, prior to the issuance of the Certificates, the City is required under the Act to publish notice of its intention to issue the Certificates once a week for two consecutive weeks in a newspaper of general circulation in the City with the first publication to be at least 14 days before the date tentatively set for passage of the Ordinance authorizing the Certificates, the notice stating: (i) the time and place tentatively set for the passage of the ordinance authorizing the issuance of the Certificates, (ii) the maximum amount and purpose of the Certificates to be authorized, and (iii) the manner in which the Certificates will be paid; and WHEREAS, a substantially final draft of the Preliminary Official Statement in connection with the issuance of the Certificates has been presented to the Council; and WHEREAS, the meeting at which this Resolution is 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. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS: 1. Attached hereto as Exhibit "A" is a form of the Notice of Intention to issue the Certificates, the form and substance of which is hereby adopted and approved. 2. The City Secretary or other authorized representatives of the City, shall cause the notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the City, once a week on the same day in each of two consecutive weeks, the date of the first publication to be at least 14 days prior to the time set for the ordinance authorizing issuance of the Certificates as shown in the notice. 3. The City hereby approves the Preliminary Official Statement substantially in the form attached hereto as Exhibit "B" with such changes, additions or deletions as directed by the City. The City's Financial Advisor is hereby authorized to distribute the Preliminary Official Statement to potential purchasers and to do all things necessary to market the Certificates including making application to the various rating agencies and bond insurance companies. 4. This Resolution shall become effective immediately upon adoption. The Mayor and City Secretary are hereby authorized and directed to execute the certificate to which this Resolution is attached on behalf of the City and to do any and all things proper and necessary to carry out the intent of this Resolution. Danna Welter, City Secretary APPROVED AS TO FORM: Paul C. Isham, City Attorney LLIAM B. GREEN, MAYOR EXHIBIT "A" NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Huntsville, Texas, to issue interest bearing certificates of obligation of the City entitled "City of Huntsville, Texas Combination Tax and Revenue Certificates of Obligation, Series 2001," for the purpose of paying contractual obligations incurred or to be incurred by the City for public improvements within the City, to -wit: (1) constructing, improving and equipping a golf course and related infrastructure and improvements to be located at 457 IH 45 South, (2) constructing and improving wastewater lines and (3) the payment of professional services in connection therewith including legal, fiscal, construction management and engineering fees and the costs of issuance in connection with the Certificates. The City Council tentatively proposes to authorize the issuance of such Certificates of Obligation at its regular meeting place in the City Council Chambers, Huntsville City Hall, 1212 Avenue M, Huntsville, Texas 77340, at a meeting to commence at 5:15 p.m., on the 13th day of November, 2001. The maximum amount of Certificates of Obligation that may be authorized for such purpose is $5,000,000. The City Council presently proposes to provide for the payment of such Certificates of Obligation from the levy of ad valorem taxes and from a limited pledge (not to exceed $1,000) of surplus revenues derived from the operation of the City's combined waterworks and sewer system. CITY OF HUNTSVILLE, TEXAS /s/ William B. Green Mayor "ON[SVQLFJCO2001: NOTICERES CERTIFICATE FOR RESOLUTION NO. 2001 -21 THE STATE OF TEXAS COUNTY OF WALKER CITY OF HUNTSVILLE We, the undersigned officers and members of the City of Huntsville, Texas (the "City "), hereby certify as follows: 1. The City Council of the City convened in a REGULAR MEETING ON THE 23RD DAY OF OCTOBER, 2001, at the City Council Chambers, Huntsville City Hall (the "Meeting "), and the roll was called of the duly constituted officers and members of the City, to -wit: William B. Green - Mayor Marjorie Rex - Mayor Pro -Tem, Position 2 at Large Mark E. Erb - Ward 1 John Escobedo - Ward 2 Gary Crawford - Ward 3 Ralph Davis - Ward 4 Steed Smith - Position 1 at Large Vance Howard - Position 3 at Large David Martinez - Position 4 at Large Danna Welter - City Secretary Councilmembers Rex, Davis & and all of the persons were present, except the following absentees: Escobedo thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a written RESOLUTION DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2001 AND OTHER MATTERS RELATED THERETO was duly introduced for the consideration of the City Council. It was then duly moved and seconded that the Resolution be passed; and, after due discussion, said motion carrying with it the passage of the Resolution, prevailed and carried by the following vote: AYES: 6 NOES: 0 2. A true, full and correct copy of the Resolution passed at the Meeting described in the above and foregoing paragraph 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 HUNTSVILLE/CO200I: NOTICERES.CRT paragraph is a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage 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 passage at the Meeting, and each of the 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 Chapter 551, Government Code, as amended. 3. 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. HUNTSVILLE/CO2001: NOTICERES.CRT SIGNED AND SEALED the 21:3 CP. 0 1Z-f-1 2t0 ( City Secretary HUNTSVILLEJCO2001: NOTICERES.CRT Mayor