R2009-123- 2009-08-10RESOLUTION NO. R2009-123
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION IN AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $12,500,000 FOR THE
ACQUISITION, CONSTRUCTION AND IMPROVEMENT OF CERTAIN
PUBLIC WORKS, AUTHORIZING DISTRIBUTION OF PRELIMINARY
OFFICIAL STATEMENTS RELATING TO SUCH SERIES OF
CERTIFICATES AND AUTHORIZING CERTAIN OTHER MATTERS
RELATING THERETO
STATE OF TEXAS
COUNTIES OF BRAZORIA 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, and is authorized to issue certificates of
obligation, to acquire, construct, or improve land, buildings, or other permanent improvements
for use by an institution of higher education pursuant to Chapter 1434, Texas 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 a series of certificates of obligation, the City of Pearland, Texas
Certificates of Obligation, Series 2009B in an aggregate principal amount not to exceed
$12,500,000 (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
notice of intent to issue the Certificates (the "Notice") in a newspaper of general circulation in
the City;
WHEREAS, for purposes of providing for the sale of the Certificates, the City Council
intends to authorize the preparation of a Preliminary Official Statements (the "Preliminary
Official Statement") to be used in the public offering of the Certificates; and
WHEREAS, the City Council has been presented with and has examined the proposed
form of Notice and finds that the form 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:
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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 each 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.
Section 3. Engagement of Professionals. This City Council hereby approves the
engagement of Andrews Kurth LLP, as bond counsel ("Bond Counsel") in connection with the
issuance of the Certificates.
Section 4. Authorization of a Preliminary Official Statement. This City Council
hereby approves the preparation and distribution by the City's financial advisor to prospective
purchasers of the Certificates of the Preliminary Official Statement, as the same may be
completed, modified, or supplemented with the approval of the Mayor or other authorized
officers and agents of the City.
Section 5. 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 6. Effective Date. This Resolution shall take effect immediately upon
passage.
Section 7. 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 loth day of August, 2009.
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Mayor
City of Pearland, Texas
ATTEST:
Secr
y of 'garland, Texas
(SE
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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 7:30 p.m. on the
28th day of September, 2009, 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 pledge of certain
revenues received by the City received in connection with an agreement with an institution of
higher education, in the maximum aggregate principal amount of $12,500,000, 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) the construction of a
multi -purpose municipal building located at the intersection of McHard Road and Pearland
Parkway, a portion of which will be used for City offices and a portion of which will be leased to
an institution of higher education, the University of Houston, to promote a public purpose related
to higher education, (ii) the payment of capitalized interest on the certificates of obligation for a
period authorized by State law, and (iii) professional services rendered in connection with the
above listed projects.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this loth day of
August, 2009.
Secr ry
y of arland, Texas
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