HomeMy WebLinkAboutRes 2021-07-943 Preliminary Limited Offering Memorandum for the Sale of Special Assessment Revenue Bonds, Series 2021s. 0091-nrt. aye
RESOLUTION APPROVING A PRELIMINARY LIMITED OFFERING
MEMORANDUM FOR THE SALE OF "CITY OF ANNA, TEXAS SPECIAL
ASSESSMENT REVENUE BONDS, SERIES 2021 (SHERLEY TRACT PUBLIC
IMPROVEMENT DISTRICT NO. 1 MAJOR IMPROVEMENT AREA PROJECT)"
WHEREAS, the City of Anna, Texas (the y") intends to issue its City of Anna, Texas
Special Assessment Revenue Bonds, Series 2021 (Sherley Tract Public Improvement District No. 1 Major
Improvement Area Project) (the "Bonds") to finance certain public improvements within the City;
WHEREAS, FMSbonds, Inc. (the "Underwriter"), with assistance $•om its counsel, City Staff, the
City's Bond Counsel, and City's Financial Advisor, has prepared a Preliminary Limited Offering
Memorandum for dissemination to potential purchasers of the Bonds prior to the availability of the final
Limited Offering Memorandum for the Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF ANNA,
TEXAS:
1. The Preliminary Limited Offering Memorandum for the Bonds, substantially in the form
attached hereto as Exhibit A, is hereby approved with such changes, addenda, supplements or
amendments as may be approved by the Finance Director in consultation with the City's consultants
retained by the City to assist in the issuance of the Bonds including Bond Counsel and the Financial
Advisor, and the Underwriter is hereby authorized to distribute such document among potential
purchasers of the Bonds and other interested persons in connection with the initial marketing and
placement of the Bonds; provided that such Preliminary Limited Offering Memorandum shall not be
released to the public without verification that the Acquisition and Development Loan (as defined in
Exhibit A) has been closed and funded, which verification shall be made in consultation with the City's
consultants retained by the City to assist in the issuance of the Bonds, including Bond Counsel and the
City Attorney.
2. Pursuant to Rule 15c2-12 of the United States Securities and Exchange Commission (17 C.F.R.
§ 240.15c2-12) ("Rule 15c2-12"), the City hereby deems the Preliminary Limited Offering Memorandum
to be final as of its date, except for the omission of no more than the following information as permitted
by Rule 15c2-12: the offering prices of the Bonds, interest rates for the Bonds, selling compensation of
the Underwriter, the aggregate principal amount of the Bonds, the principal amount per maturity of the
Bonds, the delivery date for the Bonds, ratings for the Bonds, and the identity of the ultimate purchasers.
PASSED AND APPROVED THIS 13th DAY OF JULY, 2021.
ATTEST:
Carrie L. City Secretary
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Nate Pike, Mayor
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EXHIBIT A
PRELIMINARY PRIVATE PLACEMENT MEMORANDUM