HomeMy WebLinkAboutRES 2000-052 RESOLUTION NO. 2000-52
A RESOLUTION RELATING TO THE GIVING OF NOTICE OF
INTENTION TO ISSUE CITY OF GRAPEVINE, TEXAS
COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION, SERIES 2000A AND PROVIDING AN
EFFECTIVE 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 2000A
"NOTICE IS HEREBY GIVEN that on November 7, 2000, 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 $8,000,000 principal amount of Certificates of
Obligation for the purpose of paying contractual obligations for: (i) construction, repairs,
improvements, equipment and upgrades to the City's storm drainage system; (ii) authorized capital
needs of the City, to wit: (a) computer equipment, (b) security systems, (c) fire safety equipment,
(d) street maintenance equipment; (e) police department office furniture; (f) park and golf course
maintenance equipment,(g)water and wastewater equipment,and(h)City vehicles;(iii)construction,
improvements,resurfacing and repairs to Main Street; (iv)engineering and design work for a parking
garage to be located in the downtown area of the City(collectively,the"Project"); and (v) 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
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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,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 17,2000.
/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 October 17,2000.
Mayor, City of Grapevine,Texas
ATTEST:
Cj), C ew f 44
City Se6retary, City (fa rapevine,Texas
APPROVED AS TO FORM:
By
City Attorney, City of Grapevine,Texas
Signature Page for Intent Resolution
MINUTES AND CERTIFICATION PERTAINING TO
PASSAGE OF A RESOLUTION
STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF ARLINGTON §
On the 17th day of October,2000,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 -- C — ,thus constituting a quorum.
Whereupon,among other business,a written resolution bearing the following caption was introduced:
RESOLUTION EXPRESSING INTENT TO
FINANCE EXPENDITURES TO BE INCURRED
PERTAINING TO ISSUANCE OF
COMBINATION TAX REVENUE CERTIFICATES OF OBLIGATION,
SERIES 2000A
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: Q
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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 17th day of October,
2000.
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City Secr
City of Grapevine, Texas
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Signature Page for Minutes and Certification for Reimbursement Resolution