R2017-122 2017-06-12 RESOLUTION NO. 2017-122
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, IN AN AGGREGATE _
PRINCIPAL AMOUNT NOT TO EXCEED $6,455,000, FOR THE
ACQUISITION, CONSTRUCTION AND IMPROVEMENT OF CERTAIN
PUBLIC WORKS, AUTHORIZING DISTRIBUTION OF A PRELIMINARY
OFFICIAL STATEMENT RELATING TO SUCH SERIES OF CERTIFICATES
AND AUTHORIZING CERTAIN OTHER MATTERS RELATING THERETO
STATE OF TEXAS §
COUNTIES OF BRAZORIA, FORT BEND AND HARRIS §
CITY OF PEARLAND §
WHEREAS,the City Council (the"City Council")of the City of Pearland, Texas(the"City"), is
authorized to issue certificates of obligation to pay contractual obligations to be incurred for the
construction of public works, for the purchase of materials, supplies, equipment, machinery,
buildings, land and rights-of-way for authorized needs and purposes, and for the payment of
contractual obligations for professional services pursuant to Subchapter C of Chapter 271, Texas
Local Government Code, as amended;
WHEREAS, the City Council has determined that it is in the best interests of the City and
otherwise desirable to issue the City of Pearland, Texas Certificates of Obligation, Series 2017 in
an aggregate principal amount not to exceed $6,455,000 (the "Certificates") for the design,
engineering, acquisition and construction of certain public works and the purchase of certain
equipment for authorized needs and purposes;
WHEREAS, in connection with the Certificates, the City Council intends to publish notices of
intent to issue the Certificates(the"Notice") in a newspaper of general circulation in the City; and
WHEREAS, the City Council has been presented with and has examined the proposed forms of
Notice and finds that the forms and substance thereof are satisfactory, and that the recitals and
findings contained therein are true,correct and complete.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,TEXAS:
Section 1. Preamble.The facts and recitations contained in the preamble of this Resolution
are hereby found and declared to be true and correct.
Section 2. Authorization of Notice. The City Secretary is hereby authorized and directed to
execute and deliver the Notice set forth in Exhibit A hereto and to publish such Notice on behalf
of the City once a week for two (2) consecutive weeks in a newspaper which is of general
circulation in the City, the date of the first publication of the Notice to be at least thirty-one (31)
days before the date tentatively set in the Notice for the passage of the ordinance authorizing the
issuance of the Certificates.
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Section 3. Engagement of Professionals. This City Council hereby approves the engagement of
Andrews Kurth Kenyon LLP, as bond counsel ("Bond Counsel") in connection with the issuance
of the Certificates.
Section 4.Authorization of Other Matters Relating Thereto. The Mayor,City Secretary and other
officers and agents of the City are hereby authorized and directed to do any and all things necessary
or desirable to carry out the provisions of this Resolution.
Section 5. Effective Date. This Resolution shall take effect immediately upon passage.
Section 6. Public Meeting. It is officially found, determined and declared that the meeting at
which this Resolution is adopted was open to the public and public notice of the time, place and
subject matter of the public business to be considered at such meeting, including this Resolution,
was given all as required by the Texas Government Code, Chapter 551, as amended.
[signature page follows]
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PASSED AND APPROVED this the 12th day of June,A.D., 2017.
Mayor
City of Pearland, Texas
ATTEST:
i'1. :34' 4
/Secr-/of Pearland, Texas
(SEAL)
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES
NOTICE IS HEREBY GIVEN that the City Council of the City of Pearland, Texas (the "City")
will meet at its regular meeting place at City Hall, Pearland,Texas at 6:30 p.m. on the 14th day of
August,2017,which is the time and place tentatively set for the passage of an ordinance and such
other action as may be deemed necessary to authorize the issuance of the City's certificates of
obligation, payable from ad valorem taxation and a limited (in an amount not to exceed $10,000)
subordinate pledge of certain revenues of the water and sewer system of the City, in the maximum
aggregate principal amount of$6,455,000 bearing interest at any rate or rates, not to exceed the
maximum interest rate now or hereafter authorized by law, as shall be determined within the
discretion of the City Council at the time of issuance and maturing over a period of years not to
exceed forty (40) years from the date thereof, for the purpose of evidencing the indebtedness of
the City to pay all or any part of the contractual obligations to be incurred for the construction of
public works and the purchase of materials, supplies, equipment, machinery, buildings, land and
rights-of-way for authorized needs and purposes and for the payment of contractual obligations for
professional services,to wit: (i) construction and improvements to certain streets and roads within
the City including improvements to SH 288 Northbound Frontage Road and the purchase of
necessary rights-of-ways; (ii) certain improvements to parks and trails within the City including
improvements to Independence Park and the extension of Green Tee Terrace Trail; (iii) certain
improvements and renovations to existing City facilities including an expansion of and renovations
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to the Tom Reid Library and renovations to the City Hall Complex; (iv) construction of Fire
Station#1 on McHard Road near Pearland Parkway and (iv) professional services rendered in
connection with the above listed projects.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY,this 12th day of
June, 2017.
Sec ��
ty of 'earland, exas
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