Loading...
HomeMy WebLinkAboutRes 2019-02-547 Special Assessment Revenue Bonds, Series 2019 (Hurricane Creek PID Major Imp Area)RESOLUTION APPROVING A PRELIMINARY PRIVATE PLACEMENT MEMORANDUM FOR THE SALE OF "CITY OF ANNA, TEXAS SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2019 (HURRICANE CREEK PUBLIC IMPROVEMENT DISTRICT MAJOR IMPROVEMENT AREA PROJECT)" WHEREAS, the City of Anna, Texas (the "City") intends to issue its City of Anna, Texas Special Assessment Revenue Bonds, Series 2019 (Hurricane Creek Public Improvement District Major Improvement Area Project) (the "Bonds") to finance certain public improvements within the City; WHEREAS, FMSbonds, Inc. (the "Placement Agent"), with assistance from its counsel, City Staff, the City's Bond Counsel, and City's Financial Advisor, has prepared a Preliminary Private Placement Memorandum for dissemination to potential purchasers of the Bonds prior to the availability of the final Private Placement Memorandum for the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF ANNA, TEXAS: 1. The Preliminary Private Placement 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 Placement Agent 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 Private Placement Memorandum shall not be released to the public without the approval of the Finance Director, which approval 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 Financial Advisor. 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 Private Placement 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 Placement Agent, 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 26th DAY OF FEBRUARY, 201 . Nate Pike, Mayor City of Anna, Texas ATTEST: Z XL V : _(CITY SEAL) Carrie L. Smith, City Secretary City of Anna, Texas * ' . RESOLUTION APPROVING A PRELIMINARY PRIVATE PLACEMENT MEMORANDUM FOR THE SALE OF "CITY OF ANNA, TEXAS SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2019 (HURRICANE CREEK PUBLIC IMPROVEMENT DISTRICT MAJOR IMPROVEMENT AREA PROJECT)" WHEREAS, the City of Anna, Texas (the "City") intends to issue its City of Anna, Texas Special Assessment Revenue Bonds, Series 2019 (Hurricane Creek Public Improvement District Major Improvement Area Project) (the "Bonds") to finance certain public improvements within the City; WHEREAS, FMSbonds, Inc. (the "Placement Agent"), with assistance from its counsel, City Staff, the City's Bond Counsel, and City's Financial Advisor, has prepared a Preliminary Private Placement Memorandum for dissemination to potential purchasers of the Bonds prior to the availability of the final Private Placement Memorandum for the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF ANNA, TEXAS: 1. The Preliminary Private Placement 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 Placement Agent 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 Private Placement Memorandum shall not be released to the public without the approval of the Finance Director, which approval 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 Financial Advisor. 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 Private Placement 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 Placement Agent, 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 26th DAY OF FEBRUARY, 2019. ATTEST: d 4 -Z�a Carrie L. Smith, City Secretary City of Anna, Texas Nate Pike, Mayor City of Anna, Texas 0 %%WkilI1I11 OF CAY SEAL) • S