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R76-12 06-14-76Resolution No. 76-12 THE STATE OF TEXAS COUNTIES OF BRAZORIA AND HARRIS CITY OF PEARLAND The City Council of the City of Pearland, Texas, convened in regular meeting, open to the public, on the 14th day of June, 1976, at the City Hall, and the roll was called of the duly constituted officers and members of the City Council and the City Secretary of the City, to -wit: Carlton McComb Tom Reid Cecil W. Griffin Harry Farley Terry Gray Benny -a -7= -Frank Dorothy L. Cook Mayor Councilman and Mayor Pro Tem Councilman Councilman Councilman Gott -San City Secretary and all of said persons w re present, exce t the following sentees: none , i ab - thus constituting a quorum. Wfefeupon, among other business, the following was transacted at said meeting: a written reso- lution entitled: RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $240,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 (the "Resolution") was duly introduced for the consideration of the City Council and reviewed in full. It was then duly moved and seconded that the Resolution be passed; and, after due discussion, the motion, carrying with it the passage of the Resolution, prevailed and carried by the following vote: AYES: All members of the City Council shown present above voted "Aye". NOES: None. The Mayor thereupon announced that the Resolution had been duly and lawfully adopted. The Resolution thus adopted follows: RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $249,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS (the "City"), deems it advisable to issue Certificates of Obligation of the City in accordance with the notice herein- after set forth; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS THAT: Section 1. The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct. Section 2. The City Secretary is hereby authorized and directed to cause to be published in the manner required by law a notice of intention to issue Certificates of Obligation in substantially the following form: NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that the City Council of the City of Pearland, Texas (the "City"), will meet in the City Hall, City of Pearland, Texas, at 7:30 p.m. on July 12, 1976, to adopt a resolution authorizing the issuance of the City's certificates of obligation, payable from City ad valorem taxes,. in the maximum aggregate principal amount of $240,000, bearing interest at a rate not in excess of that prescribed by Article 717k-2, V.T.C.S., as amended, and maturing over a period of years not to exceed twenty (20) years from the date thereof, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 14th day of June, 1976. /s/ Dorothy L. Cook City Secretary CITY OF PEARLAND, TEXAS (SEAL) Section 3. The notice set forth in Section 2 above shall be published once a week for two (2) consecutive weeks in a newspaper which is of general circulation in the City of Pearland, the date of the first publication to be not less than fourteen (14) days prior to the date tentatively set in said notice for the passage of the resolution authorizing the issuance of such Certificates of Obligation. Section 4. The Mayor, City Secretary, and other officers 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. This resolution shall take effect immediately upon its passage. Section 6. It is hereby officially found and determined that the need of the City for such financing creates an emer- gency and an urgent public necessity for the holding, at the scheduled time, of the meeting of the City Council at which this resolution is adopted and for the adoption of this resolu- tion; and the NOTICE OF MEETING relating to said meeting and heretofore posted by the City Secretary,and the posting thereof, are hereby authorized, approved, and ratified. PASSED AND APPROVED this 14th day of June, 1976. ATTEST: City Secre y CITY OF FrhRLAND, TEXAS (SEAL) 11,474„,z, Mayor CITY OF PEARLAND, TEXAS • - A ' . . q I . CERTIFICATE FOR RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $240 ,000 CITY OF I PEARLAND , TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 . - THE STATE OF TEXAS • § . COUNTIES OF BRAZORIA AND HARRIS CITY OF PEARLAND . § . . . We, the undersigned officers ' of the CITY OF PEARLAND, V TEXAS (the "City" ) , do. hereby certify as , follows : • 1. That we are the duly chosen, qualified and acting' . officers of the City for the offices shown below our signatures. . and. that as such. we are. familiar with the facts herein certified .. 2 . That there is attached to and .follows this certificate - an excerpt of proceedings from the minutes of a meeting of the ' ' City Council of the City (the "City• Council" ) which .is a trueL full •and .complete excerpt of .all 'proceedings from the minutes of . . the City Council pertaining to the adoption of the resolution d.e- scribed therein; and that the persons named in such excerpt as the officers and members of the City Council or .as officers of . . : the City are the duly chosen, qualified and acting officers and members as indicated therein. . 0 . 3 . That a true and complete. copy of the resolution' (the, •. "Resolution" ) , as adopted 'at the meeting described in such excerpt ` - from the minutes, is attached to and follows such excerpt . . : • 4 . That the Resolution has been duly and lawfully adopted ' by the City Council and that the Mayor of the City has approved, • and hereby approves , the 'Resolution; that the Mayor and the City Secretary -of the City have duly signed and attested the Resolution -. and each, respectively, hereby declares that the signing of this . certificate shall' also constitute the signing of the Resolution • for all purposes; and that the Resolution,. as signed, has been • . . . duly recorded in the minutes of the City Council for such meeting. 5 . That each of the officers and' members. of the. City • Council was duly and . sufficiently notified officially and per- sonally, in advance, of the date, hour,' plate and subject .of . such meeting of the City. Council, and that the Resolution would be introduced and considered for passage at such meeting, and each of such officers and members consented, in .advance, to 'the . holding 'of such. meeting to consider and act upon such subject . . 6 . That written notice of the meeting of the City Council described in the excerpt from the .minutes was posted in ' the form and -manner required by law; and that such meeting was open to the public as required by law' at all times during which' the Resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act , Article' 6252-17, Vernon' s. Texas Civil Statutes , as amended . • SIGNED AND SEALED .this 14th dayTof June,- 1976. ' i . . City. ,/91 ' at 'IL (42 . . . ...e_... „....-.-- _12/teLL" / c-9- . Se, etary Mayor • . (SEAL) - . I RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $249, 000 CITY OF PEARLAND, ' TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 THE STATE 'OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND §'.. WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS . ,(the "City") , deems it advisable to issue Certificates of Obligation of the. City in accordance with: the notice .herein-- after set forth; • THEREFORE, BE IT RESOLVED BY .THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS THAT:. Section 1 . The facts and recitations contained in the preamble of this resolution. are hereby found and declared to be true and correct Section 2 . The City Secretary is hereby authorized and directed to cause to be published in the manner required by law a notice of intention to issue Certificates of Obligation in substantially the following form: ' I. 1 _ I • NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that the City Council of the City of Pearland, Texas (the "City") , will meet in the City Hall, City of Pearland , Texas , at 7 : 30 p .m . on July 12, 1976 , to _ . adopt a resolution authorizing the issuance of the City ' s certificates of obligation, payable from City ad valorem taxes, in the maximum aggregate principal amount of $240, 000, bearing interest at a rate not in excess of that prescribed by Article 717k-2, V.T.C .S. , as amended, and maturing over -a period of years not to exceed twenty (20) years from the date thereof, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this l4th day of June, . 1976 . /s/ Dorothy L. Cook. . City Secretary CITY OF PEARLAND, TEXAS. (SEAL) r•. Section 3 . The notice set forth in Section 2 above shall . - be published once a week for two (2) consecutive weeks in a newspaper which is of general circulation in the City of Pearland, the date of the first publication to be not less than fourteen (14) days prior to the date tentatively set in said notice for the passage of the resolution authorizing the issuance of such Certificates of Obligation. Section 4 . The Mayor, City Secretary, and other officers of the City are hereby authorized and directed to do any and all things necessary or desirable to carry out fhe provisions of this resolution. Section 5 . This resolution shall take effect immediately' upon its passage . Section 6 . It is hereby officially found and determine that the need of the City for such financing creates an emer gency and an urgent public necessity for the holding, at the scheduled time, of the meeting of the City Council at which this resolution is adopted and for the adoption of this resoiu- tion; and the NOTICE OF MEETING. relating to said meeting and heretofore posted by the City Secretary, and the posting thereof, are hereby authorized, approved, and ratified . PASSED AND APPROVED this 14th day of June, 1976. ATTEST: (ik G 7 ./Lei Mayor ",63_,,x//„._ CITY OF PEARLAND, TEXAS City Secre ry CITY OF P RLAND, TEXAS (SEAL) 'imh1 • NOTICE OF MEETING ' THE STATE OF TEXAS § • COUNTIES OF BRAZORIA AND 'H1RRIS § CITY OF PEARLAND § NOTICE is hereby given of a meeting of the City Council of the CITY OF . PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , to be held on the 14th day of June, 1976, at 7 : 30 p .m. in the : City Hall Pearland, Texas is for the purpose of considering and, if deemed advisable by the City Council, adopting resolutions authorizing publication of notice .of intention to issue Certificates of Obligation of the City and notice to bidders, and for the purpose of con- ducting, considering and acting.. upon such other business as shall come before the meeting . The need of the City for such financing creates an emer- gency and an urgent public necessity for the holding of the meeting and for the adoption of such resolutions at the meeting . . WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this /o day of June, 1976 . . • /s/ Dorothy L . CoOk • City Secretary CITY OF PEARLAND, TEXAS (SEAL) . i am\ (41, CERTIFICATE OF POSTING OF NOTICE OF MEETING THE STATE OF TEXAS COUNTIES OF BRAZORIA AND HARRIS CITY OF. PEARLAND I, the undersigned officer of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City") , do hereby execute this certificate for the benefit of all persons in- terested in the posting of notice of a meeting of the City Council of the City as required by the Open Meetings Act (Article 6252-17, Vernon' s Texas Civil Statutes, as amended) and the validity of all actions and proceedings taken at such meeting and I do hereby certify as follows : 1 . I am the duly chosen, qualified and acting officer of the City for the office shown beneath my signature, and in such capacity I am familiar with the matters contained in • this certificate . • 2 The attached and foregoing is a true and correct copy of the Notice of Meeting which was posted by me at o ' clock 2 .m. on the /0 day of , 1976, in a place readily accessible to the genen public at all times, to-wit : in the City Hall of the City. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this day of , 1976 . . City Secretary CITY OF PEARL ND, .TEXAS = - (SEAL) • I . I ' AVISO DE REUNION EL ESTADO DE TEXAS 0 • CONDADOS DE BRAZORIA Y HARRIS , ' CIUDAD DE PEARLAND SE AVISA POR EL PRESENTE que se llevara a cabo una reuni6n del Cabil.do Municipal de la CIUDAD DE PEARLAND , Condados de Brazoria y Harris , Texas (la "Ciudad) , el .dia 14 de • junio de 1976, a 1-as 7 : 30 p .m. , en el Municipio ( City Hall ) Pearland, Texas para considerar ,' y si to aconsejo el Cabildo Municipal , adoptar resoluciones autorizando la publicaci6n de un aviso de ' intenci6n de emitir Certificados de Obligaci6n de la • Ciudad un aviso a licitadores , y para conducir , considerar yactuar sobre 'cualquier .otro asunto que se presente a la • reuni6n. I I � ' I La necesidad de la Ciudad para dicha financiaci6n ha • creado una emergencia y .un urgenite requisito publico para convocar la reuni6n y para la ad!opci6n de dicha resoluciOn en la reuni6n . • DADO BAJO MI FIRMA Y EL SELILO OFICIAL DE LA CIUDAD., este dia `4 de junio de 1976 . • • • Secretaria Municipal CIUDAD DE PEA LAND , TEXAS - (SELLO ) • I - • CITY OF PEARLAND, TEXAS CERTIFICATES OF OBLIGATION SERIES 1976 $240, 000 * * * * 6 . 25% VINSON, ELKINS,SEARLS. CONNALLY & SMITH ATTORNEYS AT LAW FIRST CITY NATIONAL BANK AAL'ILDINS HOUSTON,TEXAS 77002 CITY OF PEARLAND, TEXAS CERTIFICATES OF OBLIGATION SERIES 1976 $240, 000 6 . 25% VINSON, ELKINS, SEARLS. CONNALLY & SMITH ATTORNEYS AT LAW FIRST CITY NATIONAL BANK BUILDING HOUSTON, TEXAS 77002 SEP 161976 WE HAVE ACTED as bond counsel for the CITY OF PEARLAND, TEXAS (the "City") , in connection with the certificates of obligation hereinafter described (the "Certificates") and in such capacity we have examined a transcript of certified pro- ceedings pertaining to the Certificates which contains certi- fied copies of the proceedings of the City Council of the City, and customary certificates of officers, agents and representa- tives of the City and other certified showings , all relating to the Certificates which are more fully described as follows : CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1, 1976, numbered consecu- tively from 1 to 48, both inclusive, in the denomi- nation of $5, 000 each, aggregating $240, 000, bearing interest at the rate of 6. 25% per annum, interest payable August 1, 1977, and annually thereafter on August 1 in each year as follows : $30,000 1978 20, 000 1979 25,000 1980/81 30, 000 1982 25,000 1983 30, 000 1984/85 25, 000 1986 WE HAVE ALSO EXAMINED the Constitution and laws of the State of Texas under which the City is acting as an incorpo- rated city of the State of Texas; and we have examined exe- cuted Certificate No . 1 of the Certificates . BASED ON SAID EXAMINATION, IT IS OUR OPINION that the transcript of certified proceedings evidences complete legal authority for the issuance of the Certificates in full compli- ance with the Constitution and laws of the State of Texas presently effective; that therefore the Certificates are valid and legally binding obligations of the City, and that all taxable property within the City is subject to the levy of ad valorem taxes, within the limits prescribed by law, to pay the principal of and interest on the Certificates . IT IS OUR FURTHER OPINION that the interest on the Cer- tificates is exempt from Federal income taxes under existing stP utes, regulations, rulings and court decisions . avi,...p4,,A4, f GENERAL CERTIFICATE THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I, the undersigned, City Secretary of the CITY OF PEARLAND, TEXAS (the "City" ) , do hereby make and execute this certificate for the benefit of the Attorney General of the State of Texas and all other persons interested in the City ' s $240, 000 CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1 , 1976, now in process of issuance. I certify that : 1. The following persons constitute the City Council of the City : Carlton McComb Mayor Tom Reid Councilman and Mayor Pro Tem Cecil W. Griffin Councilman Harry Farley Councilman Terry Gray Councilman Benny J . Frank Councilman Dorothy L. Cook City Secretary 2 . James 0 . DeShazer is City Tax Assessor-Collector of the City . 3 . The City on the 6th day of February, 1971, adopted a home-rule charter and since that day has operated as a home rule city under the laws of the State of Texas; and said charter has in no way been amended, altered, changed, or repealed since its adoption except for the amendments adopted on April 6, 1974 . 4 . The following is a true , correct , and complete statement of the indebtedness of the City payable from taxes , to-wit : Page 1 of 3 pages Purpose Date Interest Maturities Amt . Outst . Brazoria Co . WC&ID #3 WW&SS _ Ser . ' 61 4-1-61 4% $ 3M 4-1-1977/79 4 . 20% 10M 1981/87 $ 79 , 000 Brazoria Co . WC&ID #3 WW&SS Ser . ' 63 10-1-63 3-3/4% 15M 4-1-1977/78 17M 1979 47 ,000 WW&SSS Ser . ' 64 12-1-64 3. 60% 20M 6-1-1977/79 4oM 1980 35M 1981/83 3-3/4% 4oM 1984 3oM 1985/86 3 . 80% 35M 1987 45M 1988 5oM 1989/91 3 . 90% 55M 1992/94 700, 000 G.O . Ser . ' 66 6-1-66 4-1/2% 15M 6-1-1977/79 4-7/8% 15M 1980/84 3oM 1985 4 . 30% 3oM 1986/88 4 . 35% 3oM 1989/90 35M 1991 4 . 40% 35M 1992/93 40M 1994 1ooM 1995 545, 000 G .O . Ser. ' 68 8-1-68 4 . 80% 15M 2-1-1977 20M 1978/79 25M 1980/82 30M 1983/84 5% 3oM 1985/87 35M 1988/89 5 . 10% 40M 1990/91 5-1/4% 40M 1992 50M 1993/95 620, 000 St . Imp . Wts . Ser. ' 72 1-1-72 6-1/2% 10M 1-1-1977 10, 000 W.S . Imp . Wts . Ser . ' 72 1-1-72 6-1/2% 4M 1-1-1977 4 , 000 Page 2 of 3 pages Purpose Date Interest - Maturities Amt . Outst . Cert . of Oblig. 4-10-73 6-1/2% $ 9M 4-10-1977 $ 9, 000 Cert. of Oblig. 2-15-74 6% 5, 400 2-15-1977/79 16, 200 St. Imp . Wts . Ser. ' 74 8-1-74 6-1/2% 10M 8-1-1976/77 7M 1978 27 , 000 G. 0 . Ser . ' 75 6-1-75 5 . 90% 10M 2-1-1978 20M 1979 25M 1980/81 30M 1982 35M 1983/85 45M 1986/87 6% 50M 1988/89 6 . 10% 55M 1990 6 . 25% 60M 1991 6 . 40% 65M 1992 6. 50% 65M 1993 650 , 000 WW Rep . Wts . Ser . ' 75 7-1-75 6-1/2% 4M 7-1-1977 3M 1978 7 , 000 CERTIFICATES IN PROCESS OF ISSUANCE Cert . of Oblig. Ser . ' 76 7-1-76 6 . 25% 30M 8-1-1978 20M 1979 25M 1980/81 30M 1982 25M 1983 30M 1984/85 25M 1986 240, 000 TOTAL $ 2, 954, 200 WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 26th day of July, 1976 . City Secretor/ CITY OF PEAR, ND, TEXAS (SEAL) Page 3 of 3 pages I NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND 'HdRRIS § CITY OF PEARLAND § NOTICE is hereby given of a meeting of the City Council of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , to be held on the 14th day of June, 1976, at 7 : 30 p .m. in the : City Hall Pearland, Texas for the purpose of considering and, if deemed advisable by the City Council, adopting resolutions authorizing publication of notice of intention to issue Certificates of Obligation of the City and notice to bidders, and for the purpose of con- ducting, considering and acting upon such other business as shall come before the meeting . The need of the City for such financing creates an emer- gency and an urgent public necessity for the holding of the meeting and for the adoption of such resolutions at the meeting. WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this ,'O day of June , 1976 . /s/ Dorothy L . Cook City Secretary CITY OF PEARLAND, TEXAS (SEAL) I CERTIFICATE OF POSTING OF NOTICE OF MEETING THE STATE OF TEXAS d § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I , the undersigned officer of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas (the "City" ) , do hereby execute this certificate for the benefit of all persons in- terested in the posting of notice of a meeting of the City Council of the City as required by the Open Meetings Act (Article 6252-17 , Vernon' s Texas Civil Statutes , as amended) and the validity of all actions and proceedings taken at such meeting and I do hereby certify as follows : 1 . I am the duly chosen, qualified and acting officer of the City for the office shown beneath my signature , and in such capacity I am familiar with the matters contained in this certificate . 2 . The attached and foregoing is a true and correct copy of the Notice of Meeting which was posted by me at /o:oo o ' clock A .m. on the io day of , 1976 , in a place readily accessible to the gener public at all times , to-wit : 5 in the City Hall of the City . WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this /o day of _ , 1976 . • ity Secretary CITY OF PEARL, D, TEXAS (SEAL) CERTIFICATE OF POSTING OF NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I, the undersigned officer of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas (the "City" ) , do hereby execute this certificate for the benefit of all persons in- terested in the posting of notice of a meeting of the City Council of the City as required by the Open Meetings Act (Article 6252-17, Vernon ' s Texas Civil Statutes , as amended) and the validity of all actions and proceedings taken at such meeting and I do hereby certify as follows : 1 . I am the duly chosen, qualified and acting officer of the City for the office shown beneath my signature, and in such capacity I am familiar with the matters contained in this certificate . 2 . The attached and foregoing , is a true and correct copy of the Notice of Meeting which was pc ed by me at 4z' o ' clock `7.m. on the // day of , 1976, in a place readily accessible to t e gene 1 public at all times , to-wit : „ p,, ,,) ,tea( , in the City Hall of the City . ydITNESS M HAND AND THE OFFICIAL SEAL OF THE CITY, this i / day of � _ , _ , 1976 . ity Secretary CITY OF PEAR D, TEXAS (SEAL) • CERTIFICATE FOR RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $240 ,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 THE STATE OF TEXAS ° § COUNTIE: OF BRAZORIA AND HARRIS § CITY OF PEARLAND § We, the undersigned officers of the CITY OF PEARLAND, TEXAS (the "City" ) , do hereby certify as follows : 1 . That we are the duly chosen, qualified and acting officers of the City for the offices shown below our signatures. and that as such we are familiar with the facts herein certified . 2 . That there is attached to and follows this certificate an excerpt of proceedings from the minutes of a meeting of the City Council of the City (the "City Council" ) which is a true, full and complete excerpt of all proceedings from the minutes of the City Council pertaining to the adoption of the resolution de- scribed therein; and that the persons named in such excerpt as the officers and members of the City Council or as officers of the City are the duly chosen, qualified and acting officers and members as indicated therein. 3 . That a true and complete copy of the resolution (the "Resolution" ) , as adopted at the meeting described in such excerpt from the minutes, is attached to and follows such excerpt . 4 . That the Resolution has been duly and lawfully adopted by the City Council and that the Mayor of the City has approved, and hereby approves, the Resolution; that the Mayor and the City Secretary of the City have duly signed and attested the Resolution and each, respectively, hereby declares that the signing of this certificate shall also constitute the signing of the Resolution for all purposes; and that the Resolution, as signed, has been duly recorded in the minutes of the City Council for such meeting. 5 . That each of the officers and members of the City Council was duly and sufficiently notified officially and per- sonally, in advance, of the date, hour, place and subject of such meeting of the City Council, and that the Resolution would be introduced and considered for passage at such meeting, and each of such officers and members consented, in advance, to the holding of such meeting to consider and act upon such subject . 6 . That written notice of the meeting of the City Council described in the excerpt from the minutes was posted in the form and manner required by law; and that such meeting was open to the public as required by law at all times during which the Resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act , Article. 6252-17, Vernon' s Texas Civil Statutes , as amended . SIGNED AND SEALED this 14th day of June, 1976 . 161)(,W,--1A.-)27-e City S etary Mayor (SEAL) . THE STATE OF TEXAS COUNTIES OF BRAZORIA AND HARRIS 45 CITY OF PEARLAND . 0 The City Council of the City of Pearland, Texas , convened in regular meeting, open to the public, on the 14th day of June, 1976, at the City Hall, and the roll was called of the duly constituted officers and members of the City Council and the City Secretary of the City, to-wit: Carlton McComb Mayor Tom Reid Councilman and Mayor Pro Tem Cecil W. Griffin Councilman Harry Farley Councilman Terry Gray Councilman Benny J. Frank Councilman Dorothy L. Cook City Secretary and all of said persons were present, except the following ab- sentees: none thus constituting a quorum. Whereupon, among other business , the following was transacted at said meeting: a written reso- lution entitled: RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $240 ,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 (the "Resolution") was duly introduced for the consideration of the City Council and reviewed in full. It was then duly moved and seconded that the Resolution be passed; and, after due discussion, the motion, carrying with it the passage of the Resolution, prevailed and carried by the following vote: AYES: All members of the City Council shown present above voted "Aye" . NOES : None. The Mayor thereupon announced that the Resolution had been duly and lawfully adopted. The Resolution thus adopted follows : • RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE $240,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS (the "City" ) , deems it advisable to issue Certificates of Obligation of the City in accordance with the notice herein- after set forth; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS THAT: Section 1 . The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct . Section 2 . The City Secretary is hereby authorized and directed to cause to be published in the manner required by law a notice of intention to issue Certificates of Obligation in substantially the following form: NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that the City Council of the City of Pearland, Texas (the "City") , will meet in the City Hall, City of Pearland, Texas , at 7 : 30 p .m. on July 12 , 1976 , to adopt a resolution authorizing the issuance of the City ' s certificates of obligation, payable from City ad valorem taxes, in the maximum aggregate principal amount of $240,000 , bearing interest at a rate not in excess of that prescribed by Article 717k-2, V.T.C .S . , as amended, and maturing over,a period of years not to exceed twenty (20) years from the date thereof, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 14th day of June, 1976 . /s/ Dorothy L. Cook City Secretary CITY OF PEARLAND, TEXAS (SEAL) Section 3 . The notice set forth in Section 2 above shall be published once a week for two (2) consecutive weeks in a newspaper which is of general circulation in the City of Pearland, the date of the first publication to be not less than fourteen (14) days prior to the date tentatively set in said notice for the passage of the resolution authorizing the issuance of such Certificates of Obligation. Section 4 . The Mayor, City Secretary, and other officers 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 . This resolution shall take effect immediately upon its passage . Section 6 . It is hereby officially found and determined that the need of the City for such financing creates an emer- gency and an urgent public necessity for the holding, at the scheduled time, of the meeting of the City Council at which this resolution is adopted and for the adoption of this resolu- tion; and the NOTICE OF MEETING relating to said meeting and heretofore posted by the City Secretary, and the posting thereof, are hereby authorized, approved, and ratified . PASSED AND APPROVED this 14th day of June, 1976 . ATTEST: ^a‘ Mayor CITY OF PEARLAND, TEXAS City Secre ry CITY OF P RLAND, TEXAS (SEAL) J. RESOLUCION AUTORIZANDO LA PUBLICACION DE AVISO DE INTENCION DE EMITIR CERTIFICADOS DE OBLIGACION , SERIE 1976 , DE LA CIUDAD DE PEARLAND , TEXAS , EN LA CANTIDAD DE $240 ,000 EL ESTADO DE TEXAS CONDADOS DE BRAZORIA Y HARRIS CIUDAD DE PEARLAND CONSIDERANDO QUE el Cabildo Municipal de la CIUDAD DE PEARLAND , TEXAS ( la "Ciudad" ) , aconseja la emisi6n de Certificados de Obligaci6n de acuerdo con el aviso descrito pigs adelante ; AHORA, POR LO TANTO , HA RESUELTO EL CABILDO MUNICIPAL DE LA CIUDAD DE PEARLAND, TEXAS , QUE : Secci6n 1 . Los hechos y las declaraciones contenidos en el preambulode esta resoluci6n por el presente se declaran fieles y correctos . Secci6n 2 . El Secretario de la Ciudad queda autorizado por el presente y dirigido para publicar un aviso de intenci6n de emitir Certificados de Obligaci6n en la forma dispuesta por ley en la siguiente forma: Secci6n 3 . El aviso expuesto en la Secci6n 2 de este sera publicado una vez a la semana por dos ( 2 ) semanas con- secutivas en un peri6dico de circulaci6n general en la Ciudad de Pearland , haciendose la primera publicaci6n no menos que catorce (14 ) dias antes de la fecha tentativamente fijada en dicho aviso para la adopci6n de la resoluci6n que autoriza la emisi6n de dichos Certificados de Obligaci6n . Secci6n 4 . El Alcalde , la Secretaria de la Ciudad y otros oficiales de la Ciudad quedan aqui autorizados y dirigidos para hacer todo y cuanto sea necesario o deseable para cumplir con las disposiciones de esta resoluci6n. Secci6n 5 . Esta resoluci6n entrarg en vigencia in- mediatamente a ser adoptada. Secci6n 6 . Por el presente se declara y se determina oficialmente que la necesidad de la Ciudad para dicha finan- ciaci6n ha creadouna emergencia y un urgente requisito publico para la convocaci6n de la reuni6n del Cabildo Municipal en la fecha fijada en la cual es adoptada esta resoluci6n y para la adopcion misma de esta resoluci6n ; y el AVISO DE REUNION con respecto a dicha reuni6n , anteriormente fijado por la Secretaria de la Ciudad , y el fijar del mismo , son actos autorizados , aprobados , y ratificados . PASADA Y ADOPTADA este dia 14 de junio de 1976. /fdo/ Carlton McComb ATESTACION : Alcalde CIUDAD DE PEARLAND , TEXAS /fdo/ Dorothy L. Cook Secretaria de la Ciudad CIUDAD DE PEARLAND , TEXAS ( SELLO ) . Published June 24 and July. i ,{$OTtC* OF K14Te1lTION Tel AVISO DE INTENCION DE SSUfi--cIl�, T ATIS 9pI OEMIBLIOIT:A"WWITFItA003 DE JBLIGATION CION NOTICE IS HEREBY SE AVISA POtt-' ` ELGIVEN that the City Council of AFFIDAVIT OF PRESENTS quo,et (...abifdo>'he City of Pearland, Texas Municipal de le Ciudad de.tthe "City"), will meet in the Pearlandi----Texar - (ta--City Hail, City of Pearland, THE STATE OF TEXAS § "Ciudad"),tendrauna reunion Texas,at 7:30 PM on July 12, en el Municipio, Ciudad de.1976, to adopt a resolution Pearland, Texas, a las 7:30 authorizing the issuance of the COUNTY OF BRAZORIA § p.m.,el the 12 de Who de1976, City's certificates . of para adopter una resolution obligation, payable from City autorizando la emision de los ad valorem taxes,. in the certificados de obligation de is maximum aggregate principol Ciudad, a ser pagadot de los amount of S240,000, bearing BEFORE ME, the under s igne impuestos al valor de la interest at a rate not in excess Ciudad en la maxima cantidad of that prescribed by Article principal total de S240,000, con 717k7k-2, V.T.C.S.. as amen• sonally appeared eared interes a no exceder to ded, and maturing over a dispuesto por el Articulo 717k. period of years not to exceed 2,V.T.C.S.,segun enmendado, twenty (20) years from the y de vencimiento a un plazo de date thereof,for the purpose of (Editor/Publisher) of the Sun anos a no exceder veinte (20) E evidencing the indebtedness of anos a partir de la fecha de los! the City for all or any part of mismos, pare comprobar la the cost of the purchase of sworn, upon oath, deposes and .deuda de la Ciudad per todo a land, rights-of-Way- for the cualquier parte del costa de roads, bridges and streets of comprar terreno, las ser- the City, and the cost of The attached clippiryidumbres de los caminos, , professional services incurred puentes y canes de la Ciudad,y in connection therewith. one in Spanish) of eel costo de servicios i WITNESS MY HAND AND profesionales contreidos con THE OFFICIAL. SEAL OF TO ISSUE CERTIFICATErespecto a to rnismo. I, THE CITY, this 14th ds<1• of published in the Sur EN FE DE LO CUAL June, 1976. FIRMO Y PONGO EL SELLO ` /s/Dorothy i .Cook which is of general OFIClALDELACIUDADe$to City Secretary City of Pearland, TE TEXAS 14 de junto de 1976. C►ty.OE.P_EARLAND, ado/Dorothy L.Cook l issues, to-wl Secretaria de la Ciudad TEXCi i S eoro..E et►ittA `,' A (SEU.0)' , 1976, and the attached newspaper clippings are true and correct copies of said published notice . SWORN TO AND SUBSCRIBED BEFORE ME, thi day of 1976 . 11/ ,G4(‘4f.e74 , Notary Public in le r 'Williams Brazoria County, texas (NOTARY SEAL) • NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § NOTICE is hereby given of a meeting of the City Council of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , to be held on the 12th day of July, 1976, at 7 : 30 p .m. in the : City Hall Pearland, Texas for the purpose of considering and, if deemed advisable by the City Council, adopting ordinances authorizing issuance of Certificates of Obligation of the City and for the purpose of conducting, considering and acting upon such other business as shall come before the meeting. The need of the City for such financing creates an emer- gency and an urgent public necessity for the holding of the meeting and for the adoption of such ordinances at the meeting. WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this day of July, 1976. /s/ Dorothy L. Cook City Secretary CITY OF PEARLAND, TEXAS (SEAL) CERTIFICATE OF POSTING OF NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I, the undersigned officer of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , do hereby execute this certificate for the benefit of all persons in- terested in the posting of notice of a meeting of the City Council of the City as required by the Open Meetings Act (Article 6252-17, Vernon ' s Texas Civil Statutes , as amended) and the validity of all actions and proceedings taken at such meeting and I do hereby certify as follows : 1 . I am the duly chosen, qualified and acting officer of the City for the office shown beneath my signature , and in such capacity I am familiar with the matters contained in this certificate . 2. The attached and foregoing is a true and correct copy of the Notice of Meeting which was pos ed by me at ..5,'/S— o ' clock /' .m. on the g day of , 1976, in a place readily essible to ;he gene l pub is at all times , to-wit : `�� 5 in the City Hall of the City . WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this day of , 1976 . ity Secretary CITY OF PEARL D, TEXAS (SEAL) NOTICE TO THE PUBLIC The regular meeting of July 12, 1976 will be reconvened on July 16 , 1976 at 5 : 30 P. M. for the consideration and possible action on the following items of unfinished business : FIRST READING OF ORDINANCE NO. 332, AN ORDINANCE AUTHORIZING THE ISSUANCE OF $240 ,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION. FIRST READING OF ORDINANCE NO . 333 , AN ORDINANCE AUTHORIZING THE ISSUANCE OF $195 ,000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION. Posted this 12th day of July , A . D. 1976 at 10 :10 P. M. on the Bulletin Board of the City Hall , 2335 N. Texas Avenue, Pearland, Texas . -- ---\) sZ- , , , (a4 Dorothy L. Co City Secretary City of Pearland , Texas CERTIFICATE FOR ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § We, the undersigned officers of the CITY OF PEARLAND, TEXAS (the "City" ) , do hereby certify as follows : 1 . That we are the duly chosen, qualified and acting officers of the City for the offices shown below our signatures and that as such we are familiar with the facts herein certified . 2 . That there is attached to and follows this certificate an excerpt of proceedings from the minutes of a meeting of the City Council of the City (the "City Council" ) which is a true, full and complete excerpt of all proceedings from the minutes of the City Council pertaining to the adoption of the ordinance de- scribed therein; and that the persons named in such excerpt as the officers and members of the City Council or as officers of the City are the duly chosen, qualified and acting officers and members as indicated therein. 3. That a true and complete copy of the ordinance (the "Ordinance" ) , as adopted at the meeting described in such excerpt from the minutes , is attached to and follows such excerpt . 4 . That the Ordinance has been duly and lawfully adopted by the City Council and that the Mayor of the City has approved, and hereby approves , the Ordinance; that the Mayor and the City Secretary of the City have duly signed and attested the Ordinance and each, respectively, hereby declares that the signing of this certificate shall also constitute the signing of the Ordinance for all purposes; and that the Ordinance, as signed , has been duly recorded in the minutes of the City Council for such meeting. 5 . That each of the officers and members of the City Council was duly and sufficiently notified officially and per- sonally, in advance, of the date, hour, place and subject of such meeting of the City Council, and that the Ordinance would be introduced and considered for passage at such meeting, and each of such officers and members consented, in advance, to the holding of such meeting to consider and act upon such subject . 6 . That written notice of the meeting of the City Council described in the excerpt from the minutes was posted in the form and manner required by law; and that such meeting was open to the public as required by law at all times during which the Ordinance and the subject matter thereof were discussed , considered and formally acted upon, all as required by the Open Meetings Act , Article 6252-17, Vernon' s Texas Civil Statutes, as amended. SIGNED AND SEALED this 16th day of July, 1976 . r , /----)A-er- l..i ->-7<!2( --e21.., .(1) -- )114Pg72d---1 City etretary Mayor (SEAL) THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § The City Council of the City of Pearland, Texas , convened in regular meeting, open to the public , on the 12th day of July, 1976, at the City Hall, and the roll was called of the duly constituted officers and members of the City Council and the City Secretary of the City, to-wit : Carlton McComb. Mayor Tom Reid Councilman and Mayor Pro Tem Cecil W. Griffin Councilman Harry Farley Councilman Terry Gray Councilman Benny J. Frank Councilman Dorothy L. Cook City Secretary Dorothy S. Thompson Assistant City Secretary and all of said persons were present , except the following ab- sentees : Cecil W. Griffin, thus constituting a quorum. After certain business was transacted the Mayor announced publicly that said meeting was recessed and would be reconvened on the 16th day of July, 1976, at 5 : 30 p .m. at the same place . The meeting was duly reconvened at such time and place, and all of the persons listed above were present , except the following absentees :Councilmen Farley & Griffin. City Secretary Dorot,hy L. Cook thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written ordi- nance entitled: ORDINANCE NO . 332 ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT (the "Ordinance" ) was duly introduced for the consideration of the City Council and reviewed in full . It was then duly moved and seconded that the Ordinance be passed; and, after due discussion, the motion, carrying with it the' passage of the Ordinance, prevailed and carried by the following vote : AYES : All members of the City Council shown present above voted ''Aye" . NOES : None . The Mayor thereupon announced that the Ordinance had been duly and lawfully adopted on first reading. The Ordinance thus adopted follows : ORDINANCE NO. 332 ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS (the "City") , authorized the publication of a notice of inten- tion to issue certificates of obligation to the effect that the City Council will meet in the City Hall of the City on July 12, 1976, to adopt a resolution authorizing the issuance of certificates of obligation, payable from City ad valorem taxes, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith; and WHEREAS, such notice was published at the times and in the manner required by the Constitutions and laws of the State of Texas and of the United States of America, respectively, particularly Article 2368a.1, Vernon's Texas Civil Statutes , as amended; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND THAT: Section 1 . The facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct . Section 2 . The City ' s negotiable certificates of obliga- tion, to be designated CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 (hereinafter called the "Certificates") , are hereby authorized to be issued and delivered in the prin- cipal amount of $240, 000 for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services in- curred in connection therewith. Section 3 . The Certificates shall be dated July 1, 1976, shall be numbered consecutively from 1 through 48, shall be in the denomination of $5, 000 each and shall mature serially on August 1 of each of the years, and in the amounts , respec- tively, set forth in the following schedule : YEAR AMOUNT 1978 $30,000 1979 20, 000 1980 25, 000 1981 25,000 1982 30,000 1983 25, 000 1984 30, 000 1985 30, 000 1986 25, 000 Section 4 . The Certificates shall bear interest from their date to maturity or redemption at the rate of 6 . 25% per annum, evidenced by interest coupons which shall appertain to the Certificates and which shall be payable on the dates in- dicated in the FORM OF CERTIFICATE set forth in this ordinance . Section 5 . The Certificates, and the interest coupons ap- pertaining thereto, shall be payable, shall have the character- istics, and shall be signed and executed (and the Certificates shall be sealed) , all as provided and in the manner indicated in the FORM OF CERTIFICATE set forth in this ordinance . -2- Section 6. The form of the Certificates, including the form of registration certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each of the Certificates, and the form of the aforesaid inter- est coupons which shall appertain and be attached initially to each of the Certificates, shall be, respectively, substan- tially as follows : FORM OF CERTIFICATE : NO . $5,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTIES OF BRAZORIA AND HARRIS CITY OF PEARLAND, TEXAS CERTIFICATE OF OBLIGATION SERIES 1976 ON AUGUST 1, 19 , the CITY OF PEARLAND (the "City") , in the Counties of Brazoria and Harris, in the State of Texas, promises to pay to bearer the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 6 . 25% per annum, evidenced by interest coupons pay- able August 1, 1977 , and annually thereafter on each August 1 while this Certificate is outstanding. The principal of this Certificate and the interest coupons appertaining hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this Certifi- cate or proper interest coupon at the PEARLAND STATE BANK, Pearland, Texas, which shall be the paying agent for this series of Certificates . -3- THIS CERTIFICATE is one of a series of negotiable, coupon certificates, dated July 1, 1976, numbered consecutively from 1 through 48, in the denomination of $5,000 each, aggregating $240, 000, issued in accordance with the Constitution and laws of the State of Texas, particularly Article 2368a.1, Vernon' s Texas Civil Statutes, as amended, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads , bridges and streets of the City, and the cost of professional services incurred in connection therewith, and pursuant to an ordinance adopted by the City Council of the City on the 12th day of July, 1976 . IT IS HEREBY certified, recited, and covenanted that this Certificate has been duly and validly authorized, issued, and delivered; that all acts, conditions, and things required or proper to be performed, exist, and be done precedent to or in the issuance and delivery of this Certificate, have been per- formed, existed, and been done in accordance with law; that this Certificate is a general obligation of the City, issued on the full faith and credit thereof; that annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Certificate, as such interest comes due and such principal matures , have been levied and ordered to be levied against all taxable property in the City and have been pledged irrevocably for such payment within the limits prescribed by law; that this Certificate shall be a debt of the City within the meaning of Article XI, Sections 5 and 7 of the Constitution of Texas; and that , when delivered, this -4- FORM OF INTEREST COUPON: NO. $ ON AUGUST 1, 19 , the CITY OF PEARLAND, in the Counties of Brazoria and Harris, State of Texas, promises to pay to bearer the amount shown on this interest coupon, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the PEARLAND STATE BANK, Pearland, Texas, said amount being interest due that day on the Certificate of Obligation bearing the number hereinafter designated of that issue of CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1, 1976. Certificate No . xxxxxxxxxx xxxxxxxxxx City Secretary Mayor Section 7 . A special fund or account , to be designated the "City of Pearland, Texas, Certificates of Obligation, Series 1976, Interest and Sinking Fund" (hereinafter called the "Interest and Sinking Fund'' ) , is hereby created and shall be established and maintained by the City at an official de- pository bank of the City. The Interest and Sinking Fund shall be kept separate and apart from all other funds and ac- counts of the City and shall be used only for paying the in- terest on and principal of the Certificates . All ad valorem taxes levied and collected for and on account of the Certifi- cates shall be deposited, as collected, to the credit of the Interest and Sinking Fund. During each year while any of the Certificates or interest coupons appertaining thereto are out- standing and unpaid, the City Council of the City shall compute -6- and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay the interest on the Certificates as such interest comes due and to provide and maintain a sinking fund adequate to pay the principal of the Certificates as such principal matures but never less than 2% of the original principal amount of the Certificates as a sinking fund each year; and said tax shall be based on the latest approved tax rolls of the City, with full allowance being made for tax delinquencies and the cost of tax collection. Said rate and amount of ad valorem tax are hereby levied, and are hereby ordered to be levied, against all taxable property in the City for each year while any of the Certificates or interest coupons appertaining thereto are outstanding and unpaid; and said tax shall be assessed and collected each such year and deposited to the credit of the Interest and Sinking Fund . Said ad valorem taxes sufficient to provide for the payment of the interest on and principal of the Certificates, as such interest comes due and such principal matures, are hereby pledged irrevocably for such payment within the limits prescribed by law. Section 8 . Immediately following delivery of the Cer- tificates to the purchaser thereof, the accrued interest and premium, if any, shall be deposited in the Interest and Sinking Fund . Section 9 . The City certifies that based upon all facts, estimates and circumstances now known or reasonably expected to be in existence on the date the Certificates are delivered and paid for, the City reasonably expects that the proceeds of the Certificates will not be used in a manner that would -7- cause the Certificates or any portion of the Certificates to be an "arbitrage certificate" under Section 103(d) (2) of the Internal Revenue Code of 1954, as amended, and the temporary and proposed regulations heretofore prescribed thereunder, including, without limitation, Sections 1 . 103-13 and 1 . 103-14 of the proposed regulations published in the Federal Register on May 3, 1973 . Furthermore, all officers, employees and agents of the City are authorized and directed to provide cer- tifications of facts, estimates and circumstances which are material to the reasonable expectations of the City as of the date the Certificates are delivered and paid for, and any such certifications may be relied upon by counsel, by the owners or holders of the Certificates, or by any person interested in the exemption of interest on the Certificates from Federal income taxation. Moreover, the City covenants that it shall make such use of the proceeds of the Certificates, regulate investments of proceeds of the Certificates, and take such other and further action as may be required so that the Cer- tificates shall not be "arbitrage certificates" under Section 103 (d) of the Internal Revenue Code of 1954, as amended, and regulations prescribed from time to time thereunder . Section 10 . The Mayor of the City is hereby authorized to have control of the Certificates and all necessary records and proceedings pertaining to the Certificates pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas and their registration by the Comptroller of Public Accounts of the State of Texas . Upon registration of the Certificates, the Comptroller of Public Accounts (or a deputy designated in writing to act for -8- the Comptroller) shall manually sign the Comptroller ' s Regis- tration Certificate prescribed herein to be printed and en- dorsed on each Certificate; and the seal of the Comptroller shall be impressed, or placed in facsimile, on each of the Certificates . Section 11 . The Certificates are hereby sold and shall be delivered to UNDERWOOD, NEUHAUS & CO . , INCORPORATED, Houston, Texas, for the par value thereof and accrued interest thereon to date of delivery, subject to the unqualified approving opinions, as to the legality of the Certificates, of the Attorney General of the State of Texas and of Vinson, Elkins, Searls, Connally & Smith, Houston, Texas, market attorneys . Section 12 . The approving opinion of Vinson, Elkins, Searls, Connally & Smith, Houston, Texas, may be printed on the back of each of the Certificates, but errors or omissions in such opinion shall have no effect on the validity of the Certificates . Section 13 . The Mayor and all other appropriate officers of the City are hereby authorized and directed to do any and all things necessary or convenient to carry out the provisions of this ordinance . Section 14 . This ordinance shall take effect immediately upon its passage on second reading . Section 15 . It is hereby officially found and determined that the need of the City for such financing creates an emer- gency and an urgent public necessity for the holding, at the scheduled time, of the meeting of the City Council at which -9- this ordinance is adopted and for the adoption of this ordi- nance; and the NOTICE OF MEETING relating to said meeting and heretofore posted by the City Secretary, and the posting thereof, is hereby authorized, approved, adopted, ratified, and confirmed. PASSED AND APPROVED this 16th day of July, 1976 . ATTEST: /s/ Carlton McComb Mayor /s/ Dorothy L. Cook CITY OF PEARLAND, TEXAS City Secretary CITY OF PEARLAND, TEXAS (SEAL) -10- NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § NOTICE is hereby given of a meeting of the City Council of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , to be held on the 26th day of July, 1976, at 7 : 30 p .m. in the : City Hall Pearland, Texas for the purpose of considering and, if deemed advisable by the City Council, adopting ordinances authorizing issuance of Certificates of Obligation of the City and for the purpose of conducting, considering and acting upon such other business as shall come before the meeting. The need of the City for such financing creates an emer- gency and an urgent public necessity for the holding of the meeting and for the adoption of such ordinances at the meeting. WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this day of July, 1976 . /s/ Dorothy L . Cook City Secretary CITY OF PEARLAND, TEXAS (SEAL) I . , CERTIFICATE OF POSTING OF NOTICE OF MEETING THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I, the undersigned officer of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas (the "City" ) , do hereby execute this certificate for the benefit of all persons in- terested in the posting of notice of a meeting of the City Council of the City as required by the Open Meetings Act (Article 6252-17, Vernon' s Texas Civil Statutes, as amended) and the validity of all actions and proceedings taken at such meeting and I do hereby certify as follows : 1 . I am the duly chosen, qualified and acting officer "of the City for the office shown beneath my signature , and in such capacity I am familiar with the matters contained in this certificate . 2 . The attached and foregoing is a true and correct copy of the Notice of Meeting which was posted by me at / . ,,, o ' clock , .m. on the c day of 0 % , 1976, in a place readily accessible to thy genes l pub /c at all times, to-wit : sc. .4.,,,_.,,_,.. ..-_, 3 in the City Hall of the City . WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this _22,. day of , 1976 . lty Secretary CITY OF PEAR D, TEXAS (SEAL) CERTIFICATE FOR ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § We, the undersigned officers of the CITY OF PEARLAND, TEXAS (the "City" ) , do hereby certify as follows : 1 . That we are the duly chosen, qualified and acting officers of the City for the offices shown below our signatures and that as such we are familiar with the facts herein certified . 2. That there is attached to and follows this certificate an excerpt of proceedings from the minutes of a meeting of the City Council of the City (the "City Council" ) which is a true, full and complete excerpt of all proceedings from the minutes of the City Council pertaining to the adoption of the ordinance de- scribed therein; and that the persons named in such excerpt as the officers and members of the City Council or as officers of the City are the duly chosen, qualified and acting officers and members as indicated therein. 3 . That a true and complete copy of the ordinance (the "Ordinance" ) , as adopted at the meeting described in such excerpt from the minutes, is attached to and follows such excerpt . 4 . That the Ordinance has been duly and lawfully adopted by the City Council and that the Mayor of the City has approved, and hereby approves , the Ordinance; that the Mayor and the City Secretary of the City have duly signed and attested the Ordinance and each, respectively, hereby declares that the signing of this certificate shall also constitute the signing of the Ordinance for all purposes; and that the Ordinance, as signed , has been duly recorded in the minutes of the City Council for such meeting. 5 . That each of the officers and members of the City Council was duly and sufficiently notified officially and per- sonally, in advance, of the date, hour, place and subject of such meeting of the City Council, and that the Ordinance would be introduced and considered for passage at such meeting, and each of such officers and members consented, in advance, to the holding of such meeting to consider and act upon such subject . 6 . That written notice of the meeting of the City Council described in the excerpt from the minutes was posted in the form and manner required by law; and that such meeting was open to the public as required by law at all times during which the Ordinance and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act , Article 6252-17, Vernon' s Texas Civil Statutes , as amended . SIGNED AND SEALED this 26th day of July, 1976 . Thealh)11-jfilk-6711 City S r tar Mayor (SEAL) 1 THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § The City Council of the City of Pearland, Texas, convened in regular meeting, open to the public , on the 26th day of July, 1976, at the City Hall, and the roll was called of the duly constituted officers and members of the City Council and the City Secretary of the City, to-wit : Carlton McComb. Mayor Tom Reid Councilman and Mayor Pro Tem Cecil W. Griffin Councilman Harry Farley Councilman Terry Gray Councilman Benny J . Frank Councilman Dorothy L. Cook City Secretary and all of said persons were present , except the following ab- sentees : thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written ordi- nance entitled: ORDINANCE NO . 332 ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT (the "Ordinance") was duly introduced for the consideration of the City Council and reviewed in full . It was then duly moved and seconded that the Ordinance be passed; and, after due discussion, the motion, carrying with it the passage of the Ordinance, prevailed and carried by the following vote : AYES : All members of the City Council shown present above voted "Aye" . NOES : None . The Mayor thereupon announced that the Ordinance had been duly and lawfully adopted on second and final reading. The Ordi- nance thus adopted follows : ORDINANCE NO . 332 ORDINANCE AUTHORIZING ISSUANCE OF $240, 000 CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS (the "City" ) , authorized the publication of a notice of inten- tion to issue certificates of obligation to the effect that the City Council will meet in the City Hall of the City on July 12, 1976, to adopt a resolution authorizing the issuance of certificates of obligation, payable from City ad valorem taxes, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land , rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith; and WHEREAS, such notice was published at the times and in the manner required by the Constitutions and laws of the State of Texas and of the United States of America, respectively, particularly Article 2368a.1, Vernon's Texas Civil Statutes , as amended; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND THAT: Section 1 . The facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct . Section 2 . The City ' s negotiable certificates of obliga- tion, to be designated CITY OF PEARLAND, TEXAS , CERTIFICATES OF OBLIGATION, SERIES 1976 (hereinafter called the "Certificates" ) , are hereby authorized to be issued and delivered in the prin- cipal amount of $240, 000 for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads , bridges and streets of the City, and the cost of professional services in- curred in connection therewith. Section 3 . The Certificates shall be dated July 1, 1976, shall be numbered consecutively from 1 through 48, shall be in the denomination of $5, 000 each and shall mature serially on August 1 of each of the years, and in the amounts , respec- tively, set forth in the following schedule : YEAR AMOUNT 1978 $30, 000 1979 20, 000 1980 25, 000 1981 25, 000 1982 30, 000 1983 25, 000 1984 30,000 1985 30, 000 1986 25 , 000 Section 4 . The Certificates shall bear interest from their date to maturity or redemption at the rate of 6 . 25% per annum, evidenced by interest coupons which shall appertain to the Certificates and which shall be payable on the dates in- dicated in the FORM OF CERTIFICATE set forth in this ordinance . Section 5 . The Certificates, and the interest coupons ap- pertaining thereto, shall be payable, shall have the character- istics, and shall be signed and executed (and the Certificates shall be sealed) , all as provided and in the manner indicated in the FORM OF CERTIFICATE set forth in this ordinance . -2 Section 6. The form of the Certificates, including the form of registration certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each of the Certificates, and the form of the aforesaid inter- est coupons which shall appertain and be attached initially to each of the Certificates , shall be, respectively, substan- tially as follows : FORM OF CERTIFICATE: NO . $5, 000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTIES OF BRAZORIA AND HARRIS CITY OF PEARLAND, TEXAS CERTIFICATE OF OBLIGATION SERIES 1976 ON AUGUST 1, 19 , the CITY OF PEARLAND (the "City" ) , in the Counties of Brazoria and Harris, in the State of Texas, promises to pay to bearer the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 6 . 25% per annum, evidenced by interest coupons pay- able August 1, 1977 , and annually thereafter on each August 1 while this Certificate is outstanding. The principal of this Certificate and the interest coupons appertaining hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this Certifi- cate or proper interest coupon at the PEARLAND STATE BANK, Pearland, Texas, which shall be the paying agent for this series of Certificates . -3- THIS CERTIFICATE is one of a series of negotiable, coupon certificates, dated July 1, 1976, numbered consecutively from 1 through 48, in the denomination of $5,000 each, aggregating $240, 000, issued in accordance with the Constitution and laws of the State of Texas , particularly Article 2368a.1, Vernon' s Texas Civil Statutes, as amended, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads , bridges and streets of the City, and the cost of professional services incurred in connection therewith, and pursuant to an ordinance adopted by the City Council of the City on the 12th day of July, 1976 . IT IS HEREBY certified, recited, and covenanted that this Certificate has been duly and validly authorized, issued, and delivered; that all acts , conditions, and things required or proper to be performed, exist , and be done precedent to or in the issuance and delivery of this Certificate, have been per- formed, existed, and been done in accordance with law; that this Certificate is a general obligation of the City, issued on the full faith and credit thereof; that annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Certificate, as such interest comes due and such principal matures , have been levied and ordered to be levied against all taxable property in the City and have been pledged irrevocably for such payment within the limits prescribed by law; that this Certificate shall be a debt of the City within the meaning of Article XI, Sections 5 and 7 of the Constitution of Texas; and that , when delivered, this -4- Certificate shall be deemed and construed (i) to be a "Security" within the meaning of Chapter 8, Investment Securities , Uniform Commercial Code (Chapter 785, Acts of the 60th Legislature, Regular Session, 1967 ) , and (ii) to be a general obligation of the City within the meaning of Chapter 784 , Acts of the 61st Legislature of Texas, Regular Session, 1969 . IN WITNESS WHEREOF, this Certificate of Obligation and the interest coupons appertaining hereto have been signed with the facsimile signature of the Mayor and countersigned with the facsimile signature of the City Secretary of the City, respec- tively, and the official seal of the City has been duly impressed, or placed in facsimile, on this Certificate . COUNTERSIGNED : xxxxxxxxxx Mayor xxxxxxxxxx CITY OF PEARLAND, TEXAS City Secretary CITY OF PEARLAND, TEXAS (SEAL) FORM OF REGISTRATION CERTIFICATE: COMPTROLLER 'S REGISTRATION CERTIFICATE§ REGISTER NO . I hereby certify that this Certificate of Obligation has been examined, certified as to validity, and approved by the Attorney General of the State of Texas , and that this Certifi- cate of Obligation has been registered by the Comptroller of Public Accounts of the State of Texas . WITNESS my signature and seal this xxxxxxxxxx (SEAL) Comptroller of Public Accounts of the State of Texas -5- FORM OF INTEREST COUPON: NO. $ ON AUGUST 1, 19 , the CITY OF PEARLAND, in the Counties of Brazoria and Harris, State of Texas, promises to pay to bearer the amount shown on this interest coupon, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the PEARLAND STATE BANK, Pearland, Texas, said amount being interest due that day on the Certificate of Obligation bearing the number hereinafter designated of that issue of CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1, 1976. Certificate No . xxxxxxxxxx xxxxxxxxxx City Secretary Mayor Section 7 . A special fund or account , to be designated the "City of Pearland, Texas, Certificates of Obligation, Series 1976, Interest and Sinking Fund" (hereinafter called the "Interest and Sinking Fund" ) , is hereby created and shall be established and maintained by the City at an official de- pository bank of the City. The Interest and Sinking Fund shall be kept separate and apart from all other funds and ac- counts of the City and shall be used only for paying the in- terest on and principal of the Certificates . All ad valorem taxes levied and collected for and on account of the Certifi- cates shall be deposited, as collected, to the credit of the Interest and Sinking Fund. During each year while any of the Certificates or interest coupons appertaining thereto are out- standing and unpaid, the City Council of the City shall compute -6- and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay the interest on the Certificates as such interest comes due and to provide and maintain a sinking fund adequate to pay the principal of the Certificates as such principal matures but never less than 2% of the original principal amount of the Certificates as a sinking fund each year; and said tax shall be based on the latest approved tax rolls of the City, with full allowance being made for tax delinquencies and the cost of tax collection. Said rate and amount of ad valorem tax are hereby levied, and are hereby ordered to be levied, against all taxable property in the City for each year while any of the Certificates or interest coupons appertaining thereto are outstanding and unpaid; and said tax shall be assessed and collected each such year and deposited to the credit of the Interest and Sinking Fund . Said ad valorem taxes sufficient to provide for the payment of the interest on and principal of the Certificates , as such interest comes due and such principal matures, are hereby pledged irrevocably for such payment within the limits prescribed by law. Section 8 . Immediately following delivery of the Cer- tificates to the purchaser thereof, the accrued interest and premium, if any, shall be deposited in the Interest and Sinking Fund . Section 9 . The City certifies that based upon all facts , estimates and circumstances now known or reasonably expected to be in existence on the date the Certificates are delivered and paid for, the City reasonably expects that the proceeds of the Certificates will not be used in a manner that would -7- cause the Certificates or any portion of the Certificates to be an "arbitrage certificate" under Section 103(d) (2) of the Internal Revenue Code of 1954, as amended, and the temporary and proposed regulations heretofore prescribed thereunder, including, without limitation, Sections 1 . 103-13 and 1 . 103-14 of the proposed regulations published in the Federal Register on May 3, 1973 . Furthermore, all officers, employees and agents of the City are authorized and directed to provide cer- tifications of facts, estimates and circumstances which are material to the reasonable expectations of the City as of the date the Certificates are delivered and paid for, and any such certifications may be relied upon by counsel, by the owners or holders of the Certificates, or by any person interested in the exemption of interest on the Certificates from Federal income taxation. Moreover, the City covenants that it shall make such use of the proceeds of the Certificates, regulate investments of proceeds of the Certificates, and take such other and further action as may be required so that the Cer- tificates shall not be "arbitrage certificates" under Section 103(d) of the Internal Revenue Code of 1954, as amended, and regulations prescribed from time to time thereunder . Section 10 . The Mayor of the City is hereby authorized to have control of the Certificates and all necessary records and proceedings pertaining to the Certificates pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas and their registration by the Comptroller of Public Accounts of the State of Texas . Upon registration of the Certificates, the Comptroller of Public Accounts (or a deputy designated in writing to act for -8- the Comptroller) shall manually sign the Comptroller ' s Regis- tration Certificate prescribed herein to be printed and en- dorsed on each Certificate; and the seal of the Comptroller shall be impressed, or placed in facsimile, on each of the Certificates . Section 11 . The Certificates are hereby sold and shall be delivered to UNDERWOOD, NEUHAUS & CO . , INCORPORATED, Houston, Texas, for the par value thereof and accrued interest thereon to date of delivery, subject to the unqualified approving opinions , as to the legality of the Certificates , of the Attorney General of the State of Texas and of Vinson, Elkins, Searls, Connally & Smith, Houston, Texas, market attorneys . Section 12 . The approving opinion of Vinson, Elkins, Searls, Connally & Smith, Houston, Texas, may be printed on the back of each of the Certificates , but errors or omissions in such opinion shall have no effect on the validity of the Certificates . Section 13 . The Mayor and all other appropriate officers of the City are hereby authorized and directed to do any and all things necessary or convenient to carry out the provisions of this ordinance. Section 14 . This ordinance shall take effect immediately upon its passage on second reading . Section 15 . It is hereby officially found and determined that the need of the City for such financing creates an emer- gency and an urgent public necessity for the holding, at the scheduled time, of the meeting of the City Council at which -9- this ordinance is adopted and for the adoption of this ordi- nance; and the NOTICE OF MEETING relating to said meeting and heretofore posted by the City Secretary, and the posting thereof, is hereby authorized, approved, adopted, ratified, and confirmed . PASSED AND APPROVED this 26th day of July, 1976 . ATTEST: /s/ Carlton McComb Mayor /s/ Dorothy L. Cook CITY OF PEARLAND, TEXAS City Secretary CITY OF PEARLAND, TEXAS (SEAL) -10- CERTIFICATE OF ASSESSED VALUATION THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § CITY OF PEARLAND § I , the undersigned, the duly appointed, qualified, and acting Tax Assessor-Collector of the CITY OF PEARLAND of Brazoria and Harris Counties , Texas, do hereby certify that the following is a true and correct statement of the assessed valuation of taxable property in said City, excluding that portion of certain property which is exempt from taxation because of ownership by disabled veterans and persons over 65 years of age, as shown by the duly approved tax rolls for the year 1976, which are the last approved tax rolls for said City on file in my office, to-wit : $72,349,174 WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY, this day of August , 1976 . ��-- rJ- x Assessor-Collector CITY OF PEARLAND, TEXAS (SEAL) SIGNATURE IDENTIFICATION AND NO-LITIGATION CERTIFICATE THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § We, the undersigned officers of the CITY OF PEARLAND, TEXAS , certify that we officially signed, by our facsimile signatures , on behalf of said City, the following described certificates of obligation, to-wit : CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 , dated July 1, 1976, numbered consecutively from 1 through 48, in the denomination of $5, 000 each, aggregating $240, 000, and matur- ing serially on August 1 in each of the years 1978 through 1986 (the "Certificates" ) being on the date of such signing and on the date hereof the duly chosen, qualified, and acting officers authorized to exe- cute the Certificates , and holding the official titles set forth below opposite our signatures . We further certify that said facsimile signatures have been affixed to the Certificates with our full knowledge and consent , and we hereby respectively adopt the same as our own signatures . We further certify that , to our knowledge, no litigation of any na- ture is now pending or threatened, either in the State or Federal courts contesting or attacking the Certificates or restraining or enjoining their issuance, execution or delivery, or restraining or enjoining the levy and/or collection and/or pledge of the funds from which the Certificates are payable, or in any manner questioning the authority or proceedings for the issuance, execution or delivery of the Certificates, or affecting the title of the present officials , and that no proceedings or authority for the issuance, execution or delivery of the Certificates have been repealed, rescinded or revoked . The undersigned officers whose facsimile signatures do appear on each of the coupons attached to the Certificates further certify that said facsimile signatures have been so affixed with their full knowledge and consent , and are hereby respectively adopted . We further certify that the seal which has been impressed, or placed in facsimile, upon each of the Certificates is the legally adopted, proper and only official seal of the issuer of the Certificates, said official seal being impressed on this certificate . We further certify that no petition or other request has been filed with or presented to any official of the issuer of the Certificates re- questing that any of the proceedings authorizing the Certificates be sub- mitted to a referendum or other election. We further certify that the information and data contained in the General Certificate dated July 26, 1976 , is still true and correct as of this date . WITNESS OUR HANDS AND SAID SEAL, this / ' /day of _ , 1976. ahn..2) P11.44L- '-Dorothy L. C Carlton McComb City Secret y Mayor (SEAL) The signatures of the above officers are hereby certified to be genuine . PEARLAND STATE BANK P. 0. Box 66 Nam(Mr'Fa► ;n exas 77581. Signa e of Bank Officer Gity Title of Bank Officer (BANK SEAL) lk- :! E....OF .. TIEIN Ariff r 11)1Pa 111741aY PCGIENII lAL W J T I X"S AT:WVI, Tilf:X4t.f3 7E3711 `ems r'u' September 14, 1976 4tTI' i\E7 G IE\EItA1. THIS IS TO CERTIFY that the following described Certificates of Obligation, together with authenticated copies of the proceedings relating to and authorizing the issuance of same, have been submitted to me for examination in accordance with the requirements of the statutes of the State of Texas , to-wit: CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976 , issued by virtue of an ordinance adopted by the City Council of said City on the 12th day of July, 1976 ; for the purpose of evi- dencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads , bridges and streets of the City, and the cost of professional services incurred in connection therewith; dated July 1, 1976; numbered consecutively from 1 to 48, inclusive, in the denomination of Five Thousand Dollars ($5,000) each, aggregating the principal sum of Two Hundred Forty Thousand Dollars ($240 ,000) ; maturing serially on August 1 in each of the years as follows : 1978 $30 ,000 1979 20 ,000 1980/81 25 ,000 1982 30 ,000 1983 25 ,000 1984/85 30 ,000 1986 25 , 000 bearing interest from date to maturity or redemption at the rate of 6 . 25% per annum, payable August 1, 1977 , and annually thereafter on each August 1 while said certificates are out- standing; both principal ar_d interest payable at the Pearland State Bank, Pearland, Texas . From a careful examination of said Certificates of Obligation and proceedings and the Constitution and laws of the State of Texas on the subject of the execution and issuance thereof, I find the following facts , to-wit: (1) That the City of Pearland, Texas, was at the time of the adoption of the ordinance above referred to and is , as of this date, legally incorporated. (2) That a sufficient tax on each hundred dollars valuation of taxable property in said City has been legally levied to pay the interest on said certificates and to create a sinking fund - 2 - for their liquidation at maturity. (3) That the ordinance authorizing the issuance of said certificates is in proper form and was legally adopted. (4) That said certificates are proper in form and in accordance with the ordinance authorizing their issuance . IT IS MY JUDGMENT, and I so find, that all of the require- ments of the laws under which said certificates were issued have been met; that said certificates were issued in conformity with the Constitution and laws of the State of Texas; and that said certificates are valid and binding obligations of said City of Pearland, Texas. WHEREFORE, said Certificates of Obligation are hereby approved. IN TESTIMONY WHEREOF, I have hereunto signed my name officially and caused the seal of my office to be impressed hereon, in the City of Austin, Texas . At rney General of the State of Texas #14858 Book #60 • Form 1 F08-0.07 OFFICE OF COMPTROLLER OF THE STATE OF TEXAS >i 1, Boa Bullock Comptroller of Public Accounts for the State of Texas, do hereby certify that the foregoing hereof is a true and correct copy of the opinion of the Attorney General approving the City of Pear1a , Certificates of Obligation, Series 1976 Texas, numbered consecutively from 1 to u of the denomination of$ 5 00.00 each, dated July 1 19 76 , due Sea foregoing interest 6' percent, under and by authority of which said bonds were registered in this office, on the 14th day of September 19 76 , as the same appears of record 711 on page 663 Bond Register of the Comptroller's Office, Vol. * —. ,Register Number 43283 Given under my hand and seal of office, at Austin,Texas, the Iitb day of September 76 , 19 Comptroller of Public Accounts of the State of Texas NO ARBITRAGE CERTIFICATION OF CITY OF PEARLAND , TEXAS THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § I, the undersigned officer of the CITY OF PEARLAND, TEXAS (the "City" ) , make this certification for the benefit of all persons interested in the exemption from federal income taxa- tion of the interest to be paid on the CITY OF PEARLAND , TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1, 1976, in the aggregate principal amount of $240, 000 (the "Certifi- cates") , now in the process of issuance, and do hereby certify as follows : 1 . That I am the duly chosen, qualified and acting officer of the City for the office shown below by signature; that as such I am familiar with the facts herein certified and that I am duly authorized to execute and deliver this certificate . 2 . I am charged, along with others , with responsibility for issuing the Certificates and this certification may be re- lied upon as the certification of the City pursuant to Section 1 . 103-13 (a) (2 ) (ii) of the Treasury Regulations in the Federal Register, Vol . 38, No . 85 , May 3 , 1973 , pp . 10944-51, as amended in the Federal Register, Vol . 40, No . 233 , December 3 , 1975 (the "Prop . Treas . Regs . " ) . 3 . This certification is based on the facts , estimates, and circumstances in existence on the date of the issue of the Certificates, and the expectations set forth herein are reason- able in the light of such facts , estimates and circumstances . Page 1 of 4 pages 4 . The terms and phrases used in this certification have the same meaning as those terms and phrases used in Section 103 (d) of the Internal Revenue Code of 1954 , as amended (the "Code" ) , and the Prop . Treas . Regs . 5 . The City is a local governmental unit within the meaning of Section 1 . 103-13 (a) (2) (ii) of the Prop . Treas . Regs . 6 . The Certificates are being issued for the purpose of evidencing the indebtedness of the City for all or any part of the cost of the purchase of land, rights-of-way for the roads, bridges and streets of the City, and the cost of professional services incurred in connection therewith (the "Project" ) and it is reasonably estimated that the original proceeds of the Certificates will not exceed the amount necessary for this pur- pose, if_ at all, by more than five percent (5%) of such amount . 7 . It is expected that spendable proceeds will not ex- ceed the construction and acquisition costs of the Project . 8 . The City has not and does not elect , pursuant to Prop . Treas . Regs . §1 . 103-13 (b) ( 5) (i) (B) , to waive the provisions of Prop . Treas . Regs . §1 . 103-14 (b) (1)-( 5) relating to the temporary period and to investment during that period without limitation as to yield . 9 . (a) It is expected that more than eighty-five per- cent (85%) of spendable proceeds will be expended on the Project before the end of the three (3) year temporary period in compliance with the requirements of Prop . Treas . Regs .. §1. 103-14 (b ) (2 ) (i) . (b) It is expected that the City will incur within six (6 ) months of the date hereof substantial binding obliga- tions for the acquisition and construction of the Project . Page 2 of 4 pages (c ) The City will proceed with the work on the Project with due diligence to completion in compliance with Prop . Treas . Regs . §1 . 103-14 (b) (4 ) . 10 . It is expected that any income derived from the in- vestment or reinvestment of any proceeds of the Certificates, and from investment of such investment income, will within three (3 ) years from the date of original delivery of the Cer- tificates or within one (1) year after receipt of such invest- ment income, whichever is later, either be utilized for the payment of the cost of acquiring and constructing the Project , or for payment of interest on and principal of the Certificates . 11 . It is not expected that any indirect proceeds of the Certificates , as defined in Paragraphs (A) and (B) of Prop . Treas . Regs . §1 . 103-13 (b) ( 2) (iii) , will be unreasonably accumu- lated during the term of the Certificates; that is, it is not expected that accumulated indirect proceeds , together with accumulated original and investment proceeds will be sufficient to enable the City to retire substantially all of the Certifi- cates at a date which is significantly earlier than the last maturity date of the Certificates . 12 . In view of all of the foregoing statements , it is not expected that the proceeds of the Certificates will be used in a manner that would cause the Certificates to be arbitrage certificates under Section 103(d) of the Code, and Prop . Treas . Regs . §§1. 103-13 and 1. 103-14 . 13 . The City has not been notified of any listing or pro- posed listing of it by the Commissioner of Internal Revenue, by publication in the Internal Revenue Bulletin or otherwise , to Page 3 of 4 pages the effect that its arbitrage certification may not be relied upon with respect to issues of governmental obligations to be issued by it subsequent to the date of publication of such . notice, and the City has not been given any notice of similar import . Dated and sealed upon delivery of the Certificates and receipt of the proceeds thereof, this la day of , 1976 . 4ia4U 50 aid/ Mayor CITY OF PEARLAND, TEXAS (SEAL) Page 4 of 4 pages TREASURER 'S RECEIPT THE STATE OF TEXAS § COUNTIES OF BRAZORIA AND HARRIS § I, the undersigned Treasurer of the CITY OF PEARLAND, TEXAS, certify as follows: 1 . That on STEP 1 P 1q7 , I delivered to the purchaser thereof the following certificates of obligation: CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976, dated July 1, 1976 , numbered consecutively from 1 through 48 , in the denomination of $5, 000 each, aggregating $240 ,000, and matur- ing serially on August 1 in each of the years 1978 through 1986 (the "Certificates" ) . 2 . At the time of such delivery, there were no matured coupons attached to the Certificates , and all unmatured coupons were attached to the Certificates . 3 . At the time of such delivery, I received from said purchaser full payment for the Certificates in keeping with the ordinance autho- rizing the issuance thereof and the ordinance awarding the sale thereof, said full purchase price being par plus accrued interest from date to delivery . IN WITNESS WHEREOF, Ichave hereunto set my hand and the official seal of said City, on 16 1976 . Q4fj (SEAL) Treasurer NO-LITIGATION CERTIFICATE We, the undersigned officers of said CITY OF PEARLAND, TEXAS, do hereby certify that at the time of delivery of the Certificates , as set forth in the Treasurer ' s Receipt above, there was not pending, and, to our knowledge, there was not threatened, any litigation affecting the validity of the Certificates, or the levy and/or collection and/or pledge of funds for the payment thereof, or the organization or boundaries of said City, or the title of the officers thereof to their respective offices, and that no additional certificates of obligation, bonds , warrants , or other indebtedness have been issued since the date of the statement of indebtedness or non-encumbrance certificate submitted to the Attorney General of Texas in connection with the approval of the Certificates . WITNESS OUR HANDS AND THE OFFICIAL SEAL OF SAID CITY, on > 1 & 1976 Mayor : (SEAL) City Secretary : The foregoing signatures of the above Treasurer, Mayor, and City Secretary are hereby certified to be genuine . PEARLAND STATE BANF9 P. O. Box � .;; L BANK Pearland, Tezase af 7/581ank P. 0. Box 66 Pearland. Texas Z75811 City (BANK SEAL) Signatu of k Officer Tit e of Bank Officer r. a �fi+�'?,� r _• ' t„ am, . ' .. 'Y Vrt` (f4K •` ��;r ,.V 11EA.. r'�.I.f10Zk$La '.r{), ;a,: . 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