HomeMy WebLinkAboutRes 2008-09-06 Directing Publication of Intention to Issue CO.pdfCITY OF ANNA, TEXAS
RESOLUTION NO. 20084)9-%
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS,
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS
RELATING TO THE SUBJECT
WHEREAS, the City of Anna expects to pay expenditures in connection with the design, planning,
acquisition and construction of the projects described in Exhibit A to this Resolution prior to the issuance of
the Certificates of Obligation hereinafter described, and
WHEREAS, the 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; and
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 L That attached hereto and marked "Exhibit A" is a form oftni ice, the form and substance of
which are hereby passed and approved.
Section 2. That the City Secretary shall cause said notice to be published in substantially the form
attached hereto, in a newspaper of general circulation in said City, and published in said City, on the same day
in each oftwo consecutive weeks, the date ofthe first publication thereofto be at least 30 days prior to the time
set for the issuance of such certificates of obligation as shown in said notice.
Section 3. That the facilities and improvements to be financed with proceeds from the proposed
Certificates of Obligation are to be used for the purposes described in the attached Notice of Intention.
Section 4. That all costs to be reimbursed pursuant to this Resolution will be capital expenditures; the
proposed Certificates of Obligation shall be issued within 18 months ofthe laterof(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 S. That this Resolution shall be effective immediately upon adoption.
PASSED, APPROVED AND EFFECTIVE September 23, 2008.
Ci Seeretary, Natha Wile
Mayor Pro Tem, Kevin Anderson
[CITY SEAL]
Exhibit A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
OF THE CITY OF ANNA, TEXAS
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Anna, Texas, to issue
one or more series of the interest bearing certificates ofobligation ofthe City for the purpose of paying all or a
portion of the City's contractual obligations incurred in connection with: (i) acquiring land and improving,
renovating and constructing a building to be used for police, utilities and other City departments; (ii)
constructing, furnishing and equipping a building for the public works deparmtent; and (iii) paying legal,
fiscal, engineering and architectural fees in connection with these projects. The City Council tentatively
proposes to adopt an ordinance authorizing the issuance ofsaid certificates ofobligation at the regular meeting
place thereof, City Hall Administration Building, I 1 I North Powell Parkway, Anna, Texas, at a meeting to
commenceat7:00p.m.,on October28,2008. The maximum mount ofcerificates of obligation indebtedness
that may be authorized to be sold on said date for such purposes described above is $910,000. 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 limited surplus revenues of the City's waterworks and
sewer system, remaining after payment ofall 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
sewersystem. The certificates ofobligation areto be issued, and this notice is given, underand pursuant to the
provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271.
CITY OF ANNA, TEXAS