R-2016-059 2016-04-25 RESOLUTION NO. 2016-59
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION, IN AN AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $14,200,000, 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 2016 in
an aggregate principal amount not to exceed $14,200,000 (the "Certificates") for the design,
engineering, acquisition and construction of certain public works and the purchase of certain
equipment for authorized needs and purposes;
WHEREAS, in connection with the Certificates, the City Council intends to publish
notices of intent to issue the Certificates (the "Notice") in a newspaper of general circulation in
the City; and
WHEREAS, the City Council has been presented with and has examined the proposed
forms of Notice and finds that the forms and substance thereof are satisfactory, and that the
recitals and findings contained therein are true,correct and complete.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS:
Section 1. Preamble. The facts and recitations contained in the preamble of this
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Resolution are hereby found and declared to be true and correct.
Section 2. Authorization of Notice. The City Secretary is hereby authorized and
directed to execute and deliver the Notice set forth in Exhibit A hereto and to publish such
Notice on behalf of the City once a week for two (2) consecutive weeks in a newspaper which is
of general circulation in the City, the date of the first publication of the Notice to be at least
thirty-one (31) days before the date tentatively set in the Notice for the passage of the ordinance
authorizing the issuance of the Certificates.
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.
[signature page follows]
PASSED AND APPROVED this 1 1 "day of April. A.D., 2016.
(, --)a-111 -.------6-i-e-(1)
Mayor
City of Pearland, Texas
ATTEST:
Ci .ecreta�f =0
C of Pear .Ind, Texas /\