R-2014-080 2014-07-28RESOLUTION NO. 2014-80
A Resolution authorizing publication of notice of intention to issue
Certificates of Obligation, in an aggregate principal amount not to
exceed $5,000,000, for the acquisition, construction and
improvement of certain public works, authorizing distribution of a
preliminary official statement relating to such series of certificates
and authorizing certain other matters relating thereto.
STATE OF TEXAS
COUNTIES OF BRAZORIA, FORT BEND AND HARRIS
CITY OF PEARLAND
WHEREAS, the City Council (the "City Council") of the City of Pearland, Texas
(the "City"), is authorized to issue certificates of obligation to pay contractual obligations
to be incurred for the construction of public works, for the purchase of materials,
supplies, equipment, machinery, buildings, land and rights-of-way for authorized needs
and purposes, and for the payment of contractual obligations for professional services
pursuant to Subchapter C of Chapter 271, Texas Local Government Code, as
amended;
WHEREAS, the City Council has determined that it is in the best interests of the
City and otherwise desirable to issue the City of Pearland, Texas Certificates of
Obligation, Series 2014 in an aggregate principal amount not to exceed $5,000,000 (the
"Certificates") for the design, engineering, acquisition and construction of certain public
works and the purchase of certain equipment for authorized needs and purposes;
WHEREAS, in connection with the Certificates, the City Council intends to
publish notices of intent to issue the Certificates (the "Notice") in a newspaper of
general circulation in the City; and
WHEREAS, the City Council has been presented with and has examined the
proposed forms of Notice and finds that the forms and substance thereof are
satisfactory, and that the recitals and findings contained therein are true, correct and
complete.
Page 5 for CO Notice of Intent
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. Preamble. The facts and recitations contained in the preamble of
this Resolution are hereby found and declared to be true and correct.
Section 2. Authorization of Notice. The City Secretary is hereby authorized
and directed to execute and deliver the Notice set forth in Exhibit A hereto and to
publish such Notice on behalf of the City once a week for two (2) consecutive weeks in
a newspaper which is of general circulation in the City, the date of the first publication of
the Notice to be at least thirty-one (31) days before the date tentatively set in the Notice
for the passage of the ordinances authorizing the issuance of the each series 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 Other Matters Relating Thereto. The Mayor, City
Secretary and other officers and agents of the City are hereby authorized and directed
to do any and all things necessary or desirable to carry out the provisions of this
Resolution.
Section 5. Effective Date. This Resolution shall take effect immediately upon
passage.
Section 6. Public Meeting. It is officially found, determined and declared that
the meeting at which this Resolution is adopted was open to the public and public notice
of the time, place and subject matter of the public business to be considered at such
meeting, including this Resolution, was given all as required by the Texas Government
Code, Chapter 551, as amended.
Page 6 for CO Notice of Intent
PASSED, APPROVED and ADOPTED this the 28th day of July, A.D., 2014.
ATTEST:
•
NG LO
SEC TARY
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
TOM REID
MAYOR
Page 7 for CO Notice of Intent
Resolution No. R2014-80
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES
NOTICE IS HEREBY GIVEN that the City Council of the City of Pearland, Texas
(the "City") will meet at its regular meeting place at City Hall, Pearland, Texas at 6:30
p.m. on the 22nd day of September, 2014, which is the time and place tentatively set for
the passage of an ordinance and such other action as may be deemed necessary to
authorize the issuance of the City's certificates of obligation, payable from ad valorem
taxation and a limited (in an amount not to exceed $10,000) subordinate pledge of
certain revenues of the water and sewer system of the City, in the maximum aggregate
principal amount of $5,000,000, 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) improvements, renovations and additions to the existing public works service center
located at East Orange Street and Old Alvin Road; (iii) acquisition of land for and the
design and construction of two new fire stations located at Yost Road and FM 518 and
at Harkey Road and Fite Road; (iv) project management for parks, street and facility
capital projects within the City; (v) renovations to the existing City Hall Complex; and (vi)
professional services rendered in connection with the above listed projects.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this day of
July, 2014.
Page 8 for CO Notice of Intent