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Resolution 2015-13 - Reso. 2015-13 - Intent to issue COs for transfer station - 7/21/2015RESOLUTION NO. 2015-13 RESOLUTION AUTHORIZING PROCEEDING WITH ISSUANCE OF CITY OF HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION AND FURTHER DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE SUCH CERTIFICATES OF OBLIGATION; AND OTHER MATTERS RELATED THERETO THE STATE OF TEXAS COUNTY OF WALKER CITY OF HUNTSVILLE WHEREAS, the City 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 the purposes set forth in Exhibit "A" attached hereto (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 $3,100,000 (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 in a newspaper of general circulation in the City, 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, 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. NOW, 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. Bond Counsel to the City shall cause the notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the City, for two consecutive weeks, the date of the first publication to be at least 31 days prior to the time set for the final passage of the ordinance authorizing issuance of the Certificates as shown in the notice. 3. The Director of Finance, Financial Advisor and Bond Counsel to the City are authorized to proceed with preparing the necessary bond and offering documents to effectuate the sale of the Certificates, including making application to appropriate rating agencies and bond insurers, if applicable. 4. The City Council hereby declares that reimbursement of the City for the payment of any prior capital expenditures incurred for the purposes provided herein upon the issuance of the Certificates is appropriate and consistent with the lawful objectives of the City and is in accordance with the provisions of Section 1.150 -2 of the Treasury Regulations. 5. 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 the Mayor, City Secretary and City Manager are further authorized to do any and all things proper and necessary to carry out the intent of this Resolution. 6. The City hereby authorizes the disbursement of a fee equal to the lesser of (i) one- tenth of one percent of the principal amount of each series of the Certificates being issued or (ii) $9,500 per series, provided that such fee shall not be less than $750, to the Attorney General of Texas Public Finance Division for payment of the examination fee charged by the State of Texas for the Attorney General's review and approval of public securities and credit agreements, as required by Section 1202.004 of the Texas Government Code. The appropriate member of the City's staff is hereby instructed to take the necessary measures to make this payment. The City is also authorized to reimburse the appropriate City funds for such payment from proceeds of the Certificates. RESOLVED this 21st day of July 2015. ST: ward, City Secretary CITY OF HUNTSVILLE, TEXAS J / Mac VToodw , Mayor EXHIBIT "A" NOTICE OF INTENTION REGARDING THE ISSUANCE OF CITY OF HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE 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," for the purpose of paying contractual obligations incurred or to be incurred by the City for: (1) constructing, improving, expanding, and equipping the solid waste transfer station project, including any related acquisition of land, rights -of -way and easements and (2) other related costs including payment of professional services in connection therewith including legal, fiscal, and engineering fees. The City Council tentatively proposes to consider for first and final reading of an ordinance authorizing the issuance of the certificates of obligation at a meeting to commence at 6 o'clock, p.m. on the 15th day of September, 2015 at Council Chambers, 1212 Avenue M, Huntsville, Texas, 77340. The maximum amount of certificates of obligation that may be authorized for such purpose is $3,100,000. The City Council presently 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 the surplus revenues of the City's Solid Waste Utility System in an amount not to exceed $1,000, 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 Solid Waste Utility System. CITY OF HUNTSVILLE, TEXAS CERTIFICATE FOR RESOLUTION 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 21ST DAY OF JULY, 2015, 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: Mac Woodward, Mayor Joe Emmett, Ward 1 Andy Brauninger, Position 1 Tish Humphrey, Ward 2 Lydia Montgomery, Position 2 Ronald Allen, Ward 3 Don H. Johnson, Position 3 Joe Rodriquez, Ward 4 Keith D. Olson, Position 4 and all of said persons were present, except the following absentees: , thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a written RESOLUTION AUTHORIZING PROCEEDING WITH ISSUANCE OF CITY OF HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION AND FURTHER DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE SUCH CERTIFICATES OF OBLIGATION; 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, the motion, carrying with it the passage of the Resolution, prevailed and carried by the following vote: AYES: NOES: 2. 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 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 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 aforesaid 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; 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. SIGNED AND SEALED this --TI,a D , °C)15 oodwar. , City Secretary Mac Woodward, May (CITY SEAL) Huntsville NOI Res Cert-2015 COs FecEx USA Airbill FedEx Tracking Number 8324 3208 5209 1 From pk.s. peaaka Date ane {� 1 Sender's Name N 1 l% �� � 3 V P \l -9403 t D3 Name "��CC���� w ) Phone Sender's FedEx Account Number 1063 - 7392 -2 Company CITY OF HUNSTV I LLE Address 1212 AVENUE M city HUNTSVILLE 2 Your Internal Billing Reference Fist 74 characters will appear on invoice. State TX Z1P 77340 Oept/Aoor /Suite/aoom 3 To Recipient's Name r Company f \�1✓th`� c3 51a- Li-T6 -3$t5 Phone ( ) Address x.50 x -P To "HOLD" at Fed& location, prim Fed& address Addre City tatiS—ViN a I We ca n �ot deliver to P.O. boxes or P.O. ZIP codes tAk a /�. /Suite/Room State X ZIP r Vi 0 I Try online shipping at fedex.com By using this Airbit you agree to the service conditions on the back of this Airbill and in our current Service Guide, including terms that limit our liability. Questions? 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