HomeMy WebLinkAboutRES 2001-030 RESOLUTION NO. 2001-30
A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION
TO ISSUE CITY OF GRAPEVINE, TEXAS COMBINATION TAX AND
REVENUE CERTIFICATES OF OBLIGATION, SERIES 2001 AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the City of Grapevine, Texas (the "City"), pursuant to Chapter 271,
Subchapter C, Texas Local Government Code, as amended, is authorized to issue its certificates
of obligation for the purpose of paying contractual obligations to be incurred for the purposes set
forth below; and
WHEREAS, the City Council of the City has found and determined that a notice of
intention to issue certificates of obligation should be published in accordance with the
requirements of applicable law;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE,TEXAS,THAT:
Section 1. The findings and determinations set forth in the preambles hereto are
hereby incorporated by reference for all purposes.
Section 2. The City Secretary of the City is hereby authorized and directed to issue a
notice of intention to issue certificates of obligation in substantially the following form:
"NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE,
TEXAS COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2001
"NOTICE IS HEREBY GIVEN that on July 17, 2001, the City Council of
the City of Grapevine, Texas, at 7:30 p.m. at a regular meeting of the City
Council to be held at the City Hall, 200 Main Street, Grapevine, Texas, the
regular meeting place of the City Council, intends to pass an ordinance
authorizing the issuance of not to exceed $4,500,000 principal amount of
Certificates of Obligation for the purpose of paying contractual obligations for:
(i) acquisition of the Palace Arts Center, located at 300 S. Main Street, Grapevine,
Texas for use as a music hall, opera house and theater (the "Project"); and (ii) to
pay for professional services of attorneys, financial advisors and other
professionals in connection with the Project and the issuance of the Certificates.
The Certificates shall bear interest at a rate not to exceed fifteen percent (15%)
per annum, and shall have a maximum maturity date of not later than forty (40)
years after their date. Said Certificates shall be payable from the levy of a direct
and continuing ad valorem tax against all taxable property within the City
sufficient to pay the interest on this series of Certificates as due and to provide for
the payment of the principal thereof as the same matures, as authorized by
Chapter 271, Subchapter C, Texas Local Government Code, as amended, and
from all or a part of the surplus revenues of the City's waterworks and sewer
system, such pledge of surplus revenues being limited to $1,000.
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Dallas 491005_1
"THIS NOTICE is given in accordance with law and as directed by the City Council of
the City of Grapevine, Texas.
"GIVEN THIS June 19, 2001.
/s/Linda Huff
City Secretary
City of Grapevine, Texas"
Section 3. The foregoing notice shall be published once a week for two consecutive
weeks, the date of the first publication being not less than the fourteenth (14th) day prior to the
date set forth in the foregoing notice for passage of the ordinance authorizing the Combination
Tax and Revenue Certificates of Obligation. Such notice shall be published in a newspaper of
general circulation in the area of the City of Grapevine,Texas.
Section 4. That this resolution shall take effect from and after the date of its passage.
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PASSED, APPROVED AND EFFECTIVE June 19, 2001.
William D. Tate
Mayor
ATTEST:
IA
Lind. Huff /F
City Secretary
APPROVED AS TO FORM:
.,-rte,,,,. `G
John F. Boyle,Jr.
City Attorney
Signature Page for Intent Resolution
MINUTES AND CERTIFICATION PERTAINING TO
PASSAGE OF A RESOLUTION
STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF GRAPEVINE §
On the 19th day of June, 2001, the City Council of the City of Grapevine, Texas,
convened at 7:30 p.m., in a regular meeting at the regular meeting place thereof, the meeting
being open to the public and notice of said meeting, giving the date, place and subject thereof,
having been posted as prescribed by Chapter 551, Texas Government Code, as amended; and the
roll was called of the duly constituted officers and members of the City Council, which officers
and members are as follows:
William D. Tate, Mayor C. Shane Wilbanks )
Ted R. Ware,Mayor Pro Tern Sharron Spencer ) Members of
Clydene Johnson ) the Council
Darlene Freed )
Roy Stewart )
and all of said persons were present except —0 -- , thus constituting a quorum.
Whereupon, among other business, a written resolution bearing the following caption was
introduced:
A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION
TO ISSUE CITY OF GRAPEVINE, TEXAS COMBINATION TAX AND
REVENUE CERTIFICATES OF OBLIGATION, SERIES 2001 AND
PROVIDING AN EFFECTIVE DATE
The Resolution, a full, true and correct copy of which is attached hereto, was read and
reviewed by the City Council.
Thereupon, it was duly moved and seconded that the Resolution be finally passed and
adopted.
The Presiding Officer put the motion to a vote of the members of the City Council, and
the Resolution was finally passed and adopted by the following vote:
AYES: /
NAYS: 0
ABSTENTIONS: 0
GRA325/71005
Dallas ResolutionforNoticeofln tent-GrapevineCO2001
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT, and to
correctly reflect the duly constituted officers and members of the City Council of said City, and
the attached and following copy of said Resolution is hereby certified to be a true and correct
copy of an official copy thereof on file among the official records of the City, all on this the 19th
day of June, 2001.
City Secretary
City of Grapevine, Texas
[SEAL]
Signature Page for Minutes and Certification for Intent Resolution