R2002-0139 09-09-02 RESOLUTION NO. R2002-139
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, APPROVING A BOND ORDER OF BRAZORIA COUNTY
MUNICIPAL UTILITY DISTRICT NO. 3 AUTHORIZING THE ISSUANCE OF
$2,920,000 UNLIMITED TAX AND REVENUE BONDS, SERIES 2002.
WHEREAS, Brazoria County Municipal Utility District No. 3 (the "District")is located
within the extraterritorial jurisdiction of the City of Pearland, Texas (the "City"); and
WHEREAS, by Resolution No. R 80-5, dated January 28, 1980, the City consented
to the creation of the District, and placed certain conditions on the issuance of bonds by
the District, including the approval by the City Council of the District's resolution authorizing
the issuance of such bonds; and
WHEREAS, the City Council has considered such a bond resolution in connection
with the issuance of the District's proposed $2,920,000 Unlimited Tax and Revenue Bonds,
Series 2002, and has found it to be acceptable; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
All of the matters and facts set forth in the preamble hereof are true
Section 1.
and correct.
Section 2.
The bond order of the board of directors of Brazoria County Municipal
Utility District No. 3, authorizing the issuance of its $2,920,000 Unlimited Tax and Revenue
Bonds, Series 2002, is hereby approved.
Section 3. The Mayor of the City of Peariand is hereby authorized to execute
such letters or other documents required to be provided to the Attorney General of Texas in
connection with the issuance of such bonds by the District.
Section 4. This Resolution shall take effect immediately from and after its
passage in accordance with the provisions of the Charter of the City of Pearland and it is
accordingly ~o resolved.
RESOLUTION NO. R2002-139
PASSED, APPROVED and ADOPTED this the 9 day of September
A. D., 2002.
TOM REID
MAYOR
ATTEST:
c~yrY S~ETARY
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
2
This Official Notice of Sale does not alone constitute an offer to sell, but is merely notice of sale of the bonds
described herein. The offer to sell such bonds is being made by means of this Official Notice of Sale, the Official
Bid Form and the Official Statement.
OFFICIAL NOTICE OF SALE
$2,920,000
BRAZORIA COUNTY MUNICIPAL UTILITY DISTRICT NO. 3
(A political subdivision of the State of Texas located within Brazoria County, Texas)
WATERWORKS AND SEWER SYSTEM COMBINATION
UNLIMITED TAX AND REVENUE BONDS
SERIES 2002
BONDS OFFERED FOR SALE AT COMPETITIVE BID: The Board of Directors (the "Board') of Brazoria
County Municipal Utility District No. 3 (the "District'), is offering for sale at competitive bid $2,920,000
Waterworks and Sewer System Combination Unlimited Tax and Revenue Bonds, Series 2002 (the ' Bonds").
PLACE AND TIME OF SALE: The Board will open and publicly read sealed bids for the purchase of the Bonds
at the offices of Paul A. Philbin & Assoc., P.C., 6363 Woodway, Suite 725, Houston, Texas 77057 at 12:00
Noon, Houston Time, Wednesday, September 18, 2002. Sealed bids which must be submitted in duplicate on the
Official Bid Form and plainly marked "Bid for Bonds,' are to be addressed to ' President and Board of Directors,
Brazoria County Municipal Utility District No. 3." All bids must be delivered to the above address prior to the
above scheduled time for bid opening. Any bid received after such scheduled time for bid opening will not be
accepted and will be returned unopened.
AWARD AND SALE OF THE BONDS: The District will take action to adopt an order (the 'Bond Order")
authorizing the issuance and awarding sale of the Bonds or will reject all bids promptly after the opening of bids.
The Board reserves the right to reject any or all bids and to waive any irregularities, except time of filing.
THE BONDS
DESCRIPTION OF CERTAIN TERMS OF THE BONDS: The Bonds will be dated October 1, 2002, with interest
payable on September 1, 2003 (eleven -month interest payment), and on each March 1 and September 1 thereafter
until the earlier of maturity or prior redemption. The Bonds will be issued only in fully registered form Principal
will be payable to the registered owner(s) of the Bonds (the "Bondholder(s)") upon presentation and surrender at
the principal payment office of the paying agent/registrar, initially, JPMorgan Chase Bank, in Dallas Texas, or any
successor paying agent/registrar (hereinafter sometimes called the "Paying Agent" or the ' Registrar") Unless
otherwise agreed between the Paying Agent and the Bondholder, interest on the Bonds will be payable by check or
draft of the Paying Agent, dated as of the interest payment date, and mailed by the Paying Agent to the
Bondholders, as shown on the records of the Registrar at the close of business on the 15th day of the calendar month
next preceding each interest payment date (the "Record Date"). The Bonds will mature serially on September 1
in each of the following years in the following amounts:
*
Year
2003*
2004*
2005*
2006*
2007*
2008*
2009*
2010*
2011*
Amount
$ 55,000
100,000
105,000
115,000
120,000
130,000
135,000
145,000
155,000
Year
2012*
2013*
2014*
2015*
2016*
2017*
2018*
2019*
2020*
Amount
$160,000
170,000
180,000
195,000
205,000
215,000
230,000
245,000
260,000
At the option of the Underwriter (hereinafter defined) as specified in the Official Bid Form, any or all of the
foregoing maturities of the Bonds may be designated as term bonds subject to mandatory sinking fund redemption
provided that the mandatory sinking fund amount in each year shall equal the amounts shown above as maturing
in such year.