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Home My WebLink AboutRES 1998-035 d� RESOLUTION NO. gg-35 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE,TEXAS RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE, TEXAS CERTIFICATES OF OBLIGATION, SERIES 1998 AND PROVIDING AN �,FFECTIVE DATE WHEREAS,the City of Grapevine,Texas (the"City"),pursuant to Section 271.041-.063,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 1998 "NOTICE IS HEREBY GIVEN that on July 21, 1998, 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 $5,875,000 principal amount of Certificates of Obligation for the purpose of paying contractual obligations to be incurred for the following purposes, to wit: (i)making additions and improvements to the City's municipal golf course; 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 revenues, after payment of maintenance and operation e�enses,received in connection with the operation of the City's municipal golf course and, to the e�rtent such revenues are insufficient for such purpose, from the levy of a direct i �° � and continuing ad valorem tax against all taacable 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 Section 271.041-.063, Texas Local Government Code, as amended. 6.1\F:\FINAN\GRA325\16001\NOT INTE.RE2 06/23/98:(9:45am) �, "THIS NOTICE is given in accordance with law and as directed by the City Council of the City of Grapevine, Texas. "GIVEN THIS June 23, 1998. /s/Linda Huff City Secretary City of Urapevine, 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. All prior resolutions of the City Council of the City of Grapevine,Texas relating to the giving of notice of intention to issue City of Grapevine, Texas Certificates of Obligation, Series 1998 are hereby repealed and the notice of intention to issue City of Grapevine, Texas Certificates of Obligation, Series 1998 is to be given in accordance with this resolution. Section 5. That this resolution shall take effect from and after the date of its passage. F,, ,. � � PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, ,�,��, TEXAS on this the 23 rd day of J une , 1998. APPROVED: �-,,��- William D. Tate, Mayor ATTEST: . Lmd Huff, City Secr APPROVED AS TO FORM: �.,,:,, John Boyle, City Attorney � � 6.1\F:\FINAN\GRA325\16001\NOT INTE.RE2 06/23/98:(9:45am) -2- . . CERTIFICATE FOR RESOLUTION �� I, the undersigned City Secretary of the City of Grapevine,Texas,hereby certify as followe: 1. The City Council of said City convened in Special Session on June 23, 1998, at the location specified in the public notice of said meeting, and the roll was called of the duly constituted officers and members of said City Council, to-wit: William D. Tate, Mayor Ted R.Ware, Mayor Pro Tem C. Shane Wilbanks, Councilmember Sharron Spencer, Councilmember Clydene Johnson, Councilmember Darlene Freed, Councilmember Roy Stewart, Councilmember and all of said persons were present, except for the following: � ; thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written Resolution entitled: A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE, TEXAS � . CERTIFICATES OF OBLIGATION, SERIES 1998 �,;„ was duly introduced for 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: °I NOES: '� ABSTENTIONS: (y 2. A true,full and correct copy of the aforesaid Resolution passed at the meeting described in the above and foregoing paragraphs is attached to and follows this Certificate; said Resolution has been duly recorded in the official minutes of said City Council;the above and foregoing paragraph is a true and correct excerpt from said minutes of said meeting pertaining to the passage of said Resolution; the persons named in the above and foregoing paragraph, at the time of said meeting and the passage of said Resolution,were the duly chosen, qualified and acting officers and members of said City Council as indicated therein; each of said officers and members was duly and sufficiently notified officially and personally in advance, of the time,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 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 Texas Government Code, Section 551.041, as amended. �,:, � 6.11F:\FINAN\GRA325116001\CER2_RES. OS/28/98:(5:56pm) r �,;z;" �� [�b� SIGNED AND SEALED this ---t-- �� Ciry Sec etary, City of evine,Texas (CITY SEAL] �� 6.1\F:\FINAN\GRA325\t 6001\CER2_RES. -2- OS/28/98:(5:56pm)