HomeMy WebLinkAboutRES 2009-040 RESOLUTION NO. 2009-40
��
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 COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2009A AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the City of Grapevine, Texas (the "City"), pursuant to Subchapter C,
Chapter 271, 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. That the findings and determinations set forth in the preambles
hereto are hereby incorporated by reference for all purposes.
Section 2. That 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 2009A
NOTICE IS HEREBY GIVEN that on December 1, 2009, 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
$2,050,000 principal amount of Certificates of Obligation for the purpose of paying
contractual obligations to be incurred for the following purposes, to wit: (i) acquisition of
equipment, including mobile data recorders, for municipal court purposes, (ii) park and
recreation improvements, including improvements to The Vineyards Campground (items
(i) and (ii) together, the "Project"), and (iii) payment of 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 Subchapter C,
Chapter 271, 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.
THIS NOTICE is given in accordance with law and as directed by the City
Council of the City of Grapevine, Texas.
GIVEN THIS October 20, 2009.
/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 thirtieth
(30th) 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.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 20th day of October, 2009.
APPROVED:
William D. Tate
Mayor
AT�EST;
Linda Huff
��,� City Secretary
RES. NO. 2009-40 2
�.,�
APPROVED AS TO FORM:
_,
Cathy, Cunningha �
Assis ant City Attorney
,.�...�
�
RES. NO. 2009-40 3
r MINUTES AND CERTIFICATION PERTAINING TO
PASSAGE OF A RESOLUTION
�.:.�
On October 20, 2009 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 Chris Coy ) Council
C. Shane Wilbanks, Mayor Pro Tem Sharron Spencer ) Members
Mike Lease )
Darlene Freed )
Roy Stewart )
and all of said persons were present, with the exception of Council Member Roy
Stewart, 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 2009A
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: 6
NAYS: 0
ABSTENT: 1
,�,�
�
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 October 20, 2009.
City Secretary
City of Grapevine, Texas
�;��