HomeMy WebLinkAboutRes 2025-05-1774 Notice of Intention to Issue up to $85,500,000 Combination Tax & Revenue Certificates of ObligationCERTIFICATE FOR RESOLUTION
We, the undersigned officers of the City of Anna, Texas, hereby certify as follows:
1. The City Council of said City convened in Regular Session on the 131h day of May, 2025,
at the scheduled meeting place thereof, and the roll was called of the duly constituted officers and
members of said City Council, to -wit:
Pete Cain, Mayor Lee Miller, Council Member
Stan Carver II, Mayor Pro Tem Jody Bills, Council Member
Elden Baker, Deputy Mayor Pro-Tem Kelly Patterson-Hemdon, Council Member
Kevin Toten, Council Member
Ryan Henderson, City Manager Carrie Land, City Secretary
and all of said persons were present, except it ? TT cczso n - H e,rh
constituting a quorum. Whereupon, among other b siness, the following was transacted at said meeting:
a written Resolution
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
UP TO $85,500,000 COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION TO PROVIDE FUNDS FOR NEW POLICE STATION AND
WASTEWATER TREATMENT PLANT EXPANSION PROJECTS; AND RESOLVING
OTHER MATTERS RELATING TO THE SUBJECT
was duly introduced for consideration and passage. 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: 5 NOES:_ ABSTENTIONS: I
2. A true, full and correct copy of the aforesaid Resolution passed at the meeting described
in the above and foregoing paragraph 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 members of said City Council as indicated therein;
each of said officers and member 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 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 Chapter 551, Texas Government
Code.
3. That the Mayor of said City has approved and hereby approves the aforesaid Resolution;
that the Mayor and the City Secretary of said City have duly signed said Resolution; and that the Mayor
and the City Secretary of said City hereby declare that their signing of this Certificate shall constitute the
signing of the attached and following copy of said Resolution for all purposes.
SIGNED AND SEALED THE 13TH DAY OF MAY, 2025.
(SEAL)
RESOLUTION NO. 2025-05- 1 %i
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE UP TO $85,500,000 COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION TO PROVIDE FUNDS FOR NEW
POLICE STATION AND WASTEWATER TREATMENT PLANT
EXPANSION PROJECTS; AND RESOLVING OTHER MATTERS
RELATING TO THE SUBJECT
WHEREAS, this City Council deems it advisable to authorize publication of notice of
intent to issue certificates of obligation for the purposes hereinafter set forth; and
WHEREAS, the City of Anna (the "City") expects to pay expenditures in connection
with the projects described in "Exhibit A" to this Resolution prior to the issuance of the
certificates of obligation hereinafter described;
WHEREAS, this City Council hereby finds, considers and declares that the
reimbursement of the payment by the City of such expenditures will be appropriate and
consistent with the lawful objectives of the City and, as such, chooses to declare its intention, in
accordance with the provisions of Section 1.150-2 of the U.S. Treasury Regulations, to
reimburse itself for such payments at such time as it issues the hereinafter described certificates
of obligation;
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was considered was open to the public, and public notice of the time, place and
purpose of said meeting was given, all as required by Chapter 551, Texas Government Code.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS:
Section 1. Attached hereto and marked "Exhibit A" is a form of notice, the form and
substance of which are hereby passed and approved.
Section 2. The City Secretary shalt cause said notice to be published in substantially the
form attached hereto, in a newspaper, as defined by Subchapter C, Chapter 2051, Texas
Government Code, of general circulation in the area of said City, once a week for two
consecutive weeks, with the date of the first publication to be before the 45th day before the date
tentatively set for the passage of the ordinance authorizing the issuance of the certificates, and, if
the City maintains an Internet website, continuously on the City's website for at least 45 days
before the date tentatively set for the passage of the ordinance authorizing the issuance of the
certificates.
Section 3. All costs to be reimbursed pursuant hereto will be capital expenditures; the
proposed certificates of obligation shall be issued within 18 months of the later of (i) the date the
expenditures are paid or (ii) the date on which the property, with respect to which such
expenditures were made, is placed in service; and the foregoing notwithstanding, the certificates
of obligation will not be issued pursuant to this Resolution on a date that is more than three years
after the date any expenditure which is to be reimbursed is paid.
Section 4. This Resolution shall be effective immediately upon adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS,
this 13th day of May, 2025.
ATTEST:
Y. 6�L� �
Carrie Land, City ecret ry
Pete Cain, Mayor
�* TFIE CITY OF *\
Aftifta
TE""S y�
1913 * '` [CITY SEAL]
EXHIBIT A
CITY OF ANNA, TEXAS
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Amia, Texas, at its meeting to
commence at 6:00 P.M. on July 221 2025, at the Anna Municipal Complex — City Council
Chambers, 120 W. 7th Street, Anna, Texas, tentatively proposes to adopt an ordinance
authorizing the issuance of interest bearing certificates of obligation, in one or more series, in an
amount not to exceed $85,500,000 for paying all or a portion of the City's contractual
obligations incurred in connection with (i) constructing, acquiring and equipping a new police
station; (ii) acquiring, constructing, installing, and equipping additions, improvements,
extensions, and equipment for the City's sewer system, including the Hurricane Creek Regional
Wastewater Treatment Plant and related infrastructure improvements, and the acquisition of land
and interests in land as necessary therefor; and (iii) legal, fiscal and engineering fees in
connection with such projects. The ordinance may authorize an authorized officer of the City to
effect the sale and delivery of the certificates of obligation on a date subsequent to the adoption
of the ordinance. The maximum interest rate for the certificates may not exceed the maximum
legal interest rate. The maximum maturity date for the certificates shall not exceed the
maximum maturity permitted by law. The estimated combined principal and interest required to
pay the certificates to be authorized on time and in full is $175,205,488. The current principal of
all outstanding debt obligations of the City is $179,556.000. The current combined principal and
interest required to pay all outstanding debt obligations of the City on time and in full is
$277.612,808. The City proposes to provide for the payment of such certificates of obligation
from the levy and collection of ad valorem taxes in the City as provided by law and from a
pledge of certain surplus revenues of the City's waterworks and sewer system, remaining after
payment of all operation and maintenance expenses thereof, and all debt service, reserve, and
other requirements in connection with all of the City's revenue bonds or other obligations (now
or hereafter outstanding), which are payable from all or any part of the net revenues of the City's
waterworks and sewer system. The certificates of obligation are to be issued, and this notice is
given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C
of Chapter 271.
CITY OF ANNA, TEXAS
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