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10/19/2015-CC-Agenda Packet-Regularge� zTEXAS AGENDA CITY COUNCIL MONDAY, OCTOBER 19, 2015 7#00 PM 502 ELM STREET 1. Call Meeting to Order, Invocation, Pledge of Allegiance. 2. Citizens Input: (Citizens are allowed 3 minutes to speak. The City Council is unable to respond or to discuss any issues brought up during this section). CONSENT AGENDA 3. a) Approval of Minutes: October 5, 2015 -City Council b) Disbursements 4. Consider any Items Removed From Consent Agenda. REGULAR AGENDA 5. Consider, Discuss and Possibly Approve Ordinance #10-2245 - Authorizing the Issuance of Combination Tax and Revenue Certificates of Obligation, Series 2015, Prescribing the Terms and Form Thereof, Providing for the Payment of Principal Thereof and the Interest Thereon, Awarding the Sale Thereof, Authorizing the Preparation and Distribution of an Official Statement to be Used in Connection With the Sale of the Certificates, Making Other Provisions Regarding Such Certificates, Including use of the Proceeds Thereof, and Matters Incident Thereto. 6. Consider, Discuss and Possibly Approve Resolution #R10-12-15 - For a Low Income Housing Tax Credit Program for the Reserves at Clear Creek. 7. EXECUTIVE SESSION: CLOSED MEETING Pursuant to the Open Meetings Act, Chapter 551, the City Council will Meet in a Closed Executive Session in Accordance With the Texas Government Code: Section 551.072 -Deliberation Regarding Real Property —103 Bolivar & 125 Bolivar 8. RECONVENE: OPEN MEETING Any Action Taken. 9. INFORMATION ITEMS: a) Financial and Investment Report — August 2015 b) All American Dogs Report — September 2015 c) ATMOS Rider GCR — Rate Filing Under Docket No. 10170 d) ATMOS Notice of Rate Change Request 10. Adjourn. I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and readily accessible to the general public at all times, and said notice was posted on the following date and time. /. �20/ij at in. and shall remain posted until meeting is adjourned. �9��tt►t s ; i iti s tats,�r� ,v. 011 S/illt. Tami Taber, City Secretary City of Sanger, Texas s plttgtuuttttet�t'S This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommodations or interpretive services must be made 48 hours prior to this meeting. Please contact the City Secretary's office at (940) 458-7930 for further information. MINUTES: CITY COUNCIL WORKSESSION October 5, 2015 PRESENT: Mayor Thomas Muir, Councilman Bill Boutwell, Councilman Russell Martin, Councilman Gary Bilyeu, Councilman David Clark and Councilman Allen Chick OTHERS PRESENT: City Manager Mike Brice, Tami Taber City Secretary, Joe Iliff Development Services Director, Jim Berman Parks and Rec Supervisor, Jim Bolz Water/Wastewater Supervisor, John Henderson Streets Supervisor, Jesse Maddox Fleet Mechanic, Neal Welch Public Works Superintendent and Joe Falls 1. Call Meeting to Order. Mayor Muir called the meeting to order at 6:04 p.m. 2. Presentation by the Public Works Department on Their Operations. Jim Berman, the Parks and Rec supervisor began with a Power Point presentation overviewing duties and events in his department. Porter Park was restriped, they trimmed their own trees, decorated the downtown park for Christmas, held the annual Easter egg hunt for over 500 kids, had the Hit, Pitch and Run which included 20 participants and the Arbor and Earth day celebration. His department has 6 employees including himself and they have mowed 2596 acres and completed 924 brush orders. New L.E.D. Christmas decorations will be put up in the downtown park this year, a new pond fountain at Porter Park and new swings and volleyball net at Switzer Park. Jim Bolz, Water and Wastewater supervisor has 6 water department employees including himself and 2 wastewater plant operators. His department takes care of 4 local wells, service orders and numerous water leaks. John Henderson, Street Department supervisor has a total of 3 employees which includes himself. His department takes care of maintaining streets and traffic signs. Jesse Maddox, Fleet Mechanic introduced himself to the City Council. 3. Overview of Items on Regular Agenda. 4. Adjourn. Mayor Muir adjourned the meeting at 7:10 p.m. MINUTES: CITY COUNCIL MEETING October 5, 2015 PRESENT: Mayor Thomas Muir, Councilman Bill Boutwell, Councilman Russell Martin, Councilman David Clark, Councilman Gary Bilyeu and Councilman Allen Chick OTHERS PRESENT: City Manager Mike Brice, Tami Taber City Secretary, Joe Miff Development Services Director, David Parsons, Ed McBirney and Raye Elerson 1. Call Meeting to Order, Invocation, Pledge of Allegiance. Mayor Muir called the meeting to order at 7:15 p.m. Councilman Clark led the Invocation followed by Councilman Martin leading the Pledge of Allegiance. 2. Citizens Input: (Citizens are allowed 3 minutes to speak. The City Council is unable to respond or to discuss any issues brought up during this section). CONSENT AGENDA 3. a) Approval of Minutes: September 21, 2015 -City Council b) Disbursements Councilman Bilyeu made a motion to approve. Seconded by Councilman Boutwell. Motion carried unanimously. 4. Consider any Items Removed From Consent Agenda. REGULAR AGENDA 5. Consider, Discuss and Possibly Approve Authorizing the City Manager to Sign Task Order 3R for the 2°d to 5th Street, 6" Sanitary Sewer Replacement Project. City Manager advised that this is currently a 6" line over 100 years old and will be replaced with a 10" line. Councilman Bilyeu made a motion to approve. Seconded by Councilman Martin. Motion carried unanimously. 6. Consider, Discuss and Possibly Approve Ordinance 10-2045 —Abandoning the Right of Way of an Alley Between 3rt Street and 5th Street, South of Austin Street. Councilman Bilyeu made a motion to approve. Seconded by Councilman Martin. Motion carried unanimously. 7. Consider, Discuss and Possibly Approve the Minor Plat of Parsons Addition, 2.075 Acres Located Between 3rd Street and 5th Street, South of Austin Street. Councilman Martin made a motion to approve. Seconded by Councilman Bilyeu. Motion carried unanimously. 8. Conduct a Public Hearing Regarding Rezoning of the Property Located at 220 S. 1st Street From SF40 Single Family Residential to PD-B4 Business District. Mayor Muir opened the Public Hearing at 7#45 p.m. Raye Elerson, 220 S. 1st, purchased this property at the end of April which is a single family residence even though it has been used as a business in the past. Mr. Elerson would like to change the zoning from SF to PD-B1. The property a acres with an existing 3,879 square foot warehouse and an 834 square foot one bedroom apartment. Originally this property was one property with the house located at 218 S. 1st Street and the warehouse was built behind the house. When the property was sold the property was divided into two and sold separately. His current plans are to rent out or live in the apartment and rent out the warehouse as commercial warehouse space. Mayor Muir closed the Public Hearing at 7:47 p.m. 9. Consider, Discuss and Possibly Approve Ordinance #10-21-15 -Rezoning of the Property Located at 220 S. 1st Street From SF-10 Single Family Residential to PD-B4 Business District. Councilman Martin made a motion to approve. Seconded by Councilman Bilyeu with the understanding that no additional apartment units other than the current unit to be allowed. Motion carried 4-1. Councilman Clark voted against. 10. Consider, Discuss and Possibly Approve the Final Plat of Sanger Circle Phase 4, 20.10 Acres, Located West of Marion Road and South of Lakepark Drive, Councilman Martin made a motion to approve. Motion carried unanimously. 11. INFORMATION ITEMS: None. 12. Adjourn. Mayor Muir adjourned the meeting at 8:07 p.m. ilman Seconded by CouncBoutwell. 10/07/2015 3:01 P14 A / P CHECK REGISTER PAGE: 1 PACKET: 07680 10/7/15 due by 10/19/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK at NA14E / I.D. DESC TYPE DATE 00600 CITY OF SANGER I-10/1/2015 8/18/15-9/17/15 D 10/07/2015 08280 A-1 PORTA PRIVY I-99068 PORTA POTTIES R 10/07/2015 19970 ACE HEATING AND AIR CONDITIONING, INC I-24889 REPAIR A/C R 10/07/2015 07860 ACT PIPE SUPPLY, INC I-098607 METER NIPPLES R 10/07/2015 I-100285 PARTS FOR STOCK R 10/07/2015 25070 ALL AMERICAN DOGS INC I-2330 SEPT SHELTER SERVICE R 10/07/2015 I-2338 INTAKE OVERAGE & SURRENDER SEP R 10/07/2015 02460 AT&T MOBILITY I-8/23/15-9/22/15 8/23/15-9/22/15 R 10/07/2015 00420 BOUND TREE MEDICAL, LLC I-81915775 E14S SUPPLIES R 10/07/2015 I-81915776 EMS SUPPLIES R 10/07/2015 25760 BROOKS DIVERSIFIED SYSTE14S COMPANY I-19113 QTR UL FIRE ALARM 14ONITORING R 10/07/2015 03110 CARDINAL TRACKING INC. I-109664 BADGE SYSTEM 12/l/15-11/30/16 R 10/07/2015 25640 CDW I-ZC81860 3 SY14OLOGIES R 10/07/2015 18740 CHILD S14ART ID I-353 ID CARD PYLE R 10Y0712015 00800 COSERV ELECTRIC I-8/17/15-9/16/15 8/17/15-9/16/15 R 10/07/2015 22420 CRASH DYNA14ICS I-2897 DODSON 4/4-4/8/16 FORENSIC R 10/07/2015 CHECK CHECK DISCOUNT A14OUNT NO# AMOUNT 39,902.38CR 000000 39,902.38 450.00CR 061125 450.00 294.72CR 061126 249.72 460.80CR 061127 703.00CR 061127 11163,80 3,400.00CR 061128 5,180.00CR 061128 8,580,00 726.91CR 061129 726.91 595.39CR 061130 131.30CR 061130 726.69 99.00CR 061131 99.00 2,763.90CR 061132 2,763.90 5,168.33CR 061133 5,168.33 10.00CR 061134 10.00 2,608.89CR 061135 2,608.84 700.00CR 061136 700.00 10/07/2015 3:01 P14 A / P CHECK REGISTER PAGE: 2 PACKET: 07680 10/7/15 due by 10/19/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK CHECK CHECK i NAME / I.D. DESC TYPE DATE DISCOUNT AI4OUNT N04 AMOUNT 26410 DENTON COUNTY CLERK I -LIENS 10/1/15 MOWING LIENS R 10/07/2015 150.00CR 061137 150,00 23010 FIVE STAR SUPPLY CO INC. I-4671 SUPPLIES R 10/07/2015 496,52CR 061138 496,52 18790 FUELMAN I-NP45455732 FUELMAN 9/21/15-9/27/15 R 10/07/2015 11892,98CR 061139 I-NP45583989 FUEL 9/28/15-10/4/15 R 10/07/2015 11526,89CR 061139 31419*87 01070 GALLS INC. I-004084118 POLO SHIRT, ZIPPER BOOT R 10/07/2015 229,92CR 061140 I-004101989 STRYKE UNIFORM PANTS R 10/07/2015 139.98CR 061140 369,90 20220 INGHAM LIBRARY SERVICES I-89311365 BOOKS R 10/07/2015 0,47CR 46,54CR 061141 I-89365984 BOOKS R 10/07/2015 4,31CR 426.99CR 061141 473,53 23830 JL DARLING CORPORATION I-418487 SUPPY R 10/07/2015 210,37CR 061142 210,37 26900 THE LANE CONSTRUCTION CORPORATION I-1652598 ASPHALT FOR SEPTEMBER R 10/07/2015 874,67CR 061143 874.67 16970 LONGHORN, INC. C-SS2883252.001 DIAPHRAGM RETURN R 10/07/2015 66.84 061144 I-S2883115.001 REPLACEMENT IRRIGATION PA R 10/07/2015 9.41CR 461.12CR 061144 394,28 01570 LOWE'S COMPANIES, INC. I-947213 FLOWERS FOR BEDS R 10/07/2015 202,88CR 061145 202,88 MIDWEST TAPE I-93207759 AUDIO BOOKS R 10/07/2015 31.99CR 061146 I-93225612 AUDIO BOOKS R 10/07/2015 31,99CR 061146 63,98 29230 MISTER SWEEPER LP I-236223 STREET SWEEP R 10/07/2015 486,50CR 061147 486,50 19500 NAPA AUTO PARTS I-431503 COOLANT R 10/07/2015 399,99CR 061148 399.99 08690 O'REILLY AUTO PARTS C-1959231776 BATTERY R 10/07/2015 248.99 061149 I-1959228714 TOOLS / SUPPLY R 10/07/2015 0,86CR 42.21CR 061149 I-1959229202 PARTS FOR VEHICLE REPAIRS R 10/07/2015 1.04CR 50,93CR 061149 I-1959229708 VEHICLE REPAIR PARTS R 10/07/2015 0,07CR 3642CR 061149 I-1959229726 OIL FILTER R 10/07/2015 0*10CR 4,77CR 061149 I-1959229729 TOOLS / SUPPLY R 10/07/2015 1,40CR 68,46CR 061149 I-1959229941 TOOLS / SUPPLY R 10/07/2015 0,28CR 13,58CR 061149 I-1959230329 TOOLS / SUPPLY R 10/07/2015 0,21CR 10.28CR 061149 I-1959230771 PARTS FOR VEHICLE REPAIRS R 10/07/2015 0,67CR 32,90CR 061149 I-1959231059 TOOLS / SUPPLY R 10/07/2015 1,23CR 60,39CR 061149 10/07/2015 3:01 P14 A / P CHECK REGISTER PACKET: 07680 10/7/15 due by 10/19/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT PAGE: 3 CHECK CHECK CHECK NA14E / I.D. DESC TYPE DATE DISCOUNT A14OUNT NO# I-1959231271 TOOLS / SUPPLY R 10/07/2015 0.55CR 27.17CR 061149 I-1959231412 BATTERY R 10/07/2015 4.62CR 226.37CR 061149 I-1959231775 BATTERY R 10/07/2015 9.98CR 244.01CR 061149 I-1959231777 BATTERY R 10/07/2015 4.62CR 226.37CR 061149 I-1959232541 TOOLS / SUPPLY R 10/07/2015 0.16CR 7.71CR 061149 I-1959232545 OPTIMA BATTERY R 10/07/2015 4.87CR 238.40CR 061149 I-1959232641 MECHANIC SUPPLIES R 10/07/2015 0.25CR 12.11CR 061149 I-1959232?92 MECHANIC SUPPLIES R 10/07/2015 0.18CR 25.54CR 061149 I-1959233082 I4ECILANIC SUPPLIES R 10/07/2015 0.33CR 16.04CR 061149 I-1959233188 MECHANIC SUPPLIES R 10/07/2015 2.50CR 122.49CR 061149 I-1959233429 14ISC PARTS R 10/07/2015 4.27CR 209.26CR 061149 I-1959233431 TOOLS / SUPPLY R 10/07/2015 1.52CR 74.97CR 061149 I-1959234124 MECHANIC SUPPLIES R 10/07/2015 0.28CR 13.70CR 061149 I-1959234259 TOOLS / SUPPLY R 10/07/2015 0.78CR 38.43CR 061149 *VOID* VOID CHECfC *VOID* VOID CHECK 02970 OFFICE DEPOT I-799562680001 I-794562680002 I-794562890001 25830 PACHECO KOCH, LLC I-33485 OFFICE SUPPLIES OFFICE SUPPLIES OFFICE SUPPLIES NORTH I-35 OUTFACE SEGIER 29210 POSITIVE PROhfOTIONS INC I-05325370 KID GIVE AGJAY ITEh15 02090 PUNCHES, CHRISTY I-TCCA 10/11-10/14/1 MEALS & CAR TCCA CONFERENCE 29240 RED RIVER MOTORSPORTS LTD I-169663 2016 KAWASAKI GATOR 16900 RED THE UNIFORC4 TAILOR I-OOOG5932 CLEW HIRE V 10/07/2015 V 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 R 10/07/2015 CHECK AA4OUNT 1,520.02 061150 **VOID** 061151 **VOID** 422.78CR 061152 22.71CR 061152 16.47CR 061152 5,872.50CR 061153 497.69CR 061159 96.00CR 061155 4,147.04CR 061156 751.85CR 061157 27750 SAAfANTHA SPRINGS BOTTLING I-262885 4JATER BOTTLES COURT R 10/07/2015 7.90CR 061158 I-268803 ANNUAL CONTRACT WATER COURT R 10/07/2015 70.00CR 061158 461.96 5,872.50 447.69 96.00 4,147.04 751.85 77.90 10/07/2015 3:01 PM A / P CHECK REGISTER PAGE: 4 PACKET: 07680 10/7/15 due by 10/19/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK CHECK CHECK Jt NA14E / I.D. DESC TYPE DATE DISCOUNT A140UNT NO# AMOUNT 01800 SANGER INSURANCE I-PEIRCY 15 NOTARY NOTARY FEES MEGHANN PEIRCY R 10/07/2015 99.00CR 061159 99,00 16240 SCHAD & PULTE I-198240 OXYGEN R 10/07/2015 76.00CR 061160 I-8216345 OXYGEN R 10/07/2015 26.00CR 061160 102,00 26700 SOUTHERN TIRE MART, LLC 1-48042392 FIRESTONE R 10/07/2015 92.31CR 061161 92,31 02690 TECHLINE, INC. I-1466131-00 100 W LED STREET LIGHT R 10/07/2015 31525.00CR 061162 I-1466511-00 SUPPLY R 10/07/2015 11992.80CR 061162 I-1466513-00 SUPPLY R 10/07/2015 1,648.00CR 061162 7,165.80 00100 TDIRS I-RETPY9.18.15 T14RS R 10/07/2015 16,412.34CR 061163 I-RETPY9.4.15 T14RS R 10/07/2015 16,168.87CR 061163 32,581,21 22430 WELLS FARGO BANK, NA I-090515 14ETER SYSTEM PAY14ENT R 10/07/2015 711869.50CR 061164 71,869,50 * * T 0 T A L S * * NO# DISCOUNTS CHECK AFST TOTAL APPLIED REGULAR CHECKS: 38 49,96 156,069,46 156,119,42 I, HANDWRITTEN CHECKS: 0 0,00 0,00 0,00 PRE -WRITE CHECKS: 0 0,00 0.00 0,00 DRAFTS: 1 0000 39,902638 39,902,38 VOID CHECKS: 2 0000 0,00 0,00 NON CHECKS: 0 0.00 0.00 0.00 j CORRECTIONS: 0 0,00 0,00 0,00 REGISTER TOTALS: 41 49,96 195,971.84 196,021,80 TOTAL ERRORS: 0 TOTAL WARNINGS: 0 10/14/2015 5:08 P14 A / P CHECK REGISTER PAGE: 1 PACKET: 07683 10/14/15 due by 10/26/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK CHECK CHECK t, A NA14E / I.D. DESC TYPE DATE DISCOUNT P14OUNT NO# AMOUNT 25940 ALAN PLUIR4ER ASSOCIATES, INC I-000000037853 PRO#1416-002-01 INV#35975 R 10/14/2015 19,061.89CR 061192 19,061.89 06210 ALERT -ALL CORP I-215080248 HEL14ENTS R 10/14/2015 550.000R 061193 550.00 21370 AMSOIL, INC I-16233959 RI SUPPLY R 10/14/2015 11090.80CR 061194 11090,80 00270 ANI14AL HOSPITAL ON MILAM RD, P.C. I-173664 EUTH. SlIALL INJURED CAT R 10/14/2015 78.000R 061195 78.00 28090 ARROW INTERNATIONAL, INC I-93358322 NEEDLES R 10/14/2015 560.05CR 061196 560.05 1 ATCHISON, SANDRA I-ATCHISON 10/3/15 COPff4JNITY R 10/14/2015 100.000R 061197 100.00 01550 ATMOS I-9/2/15-10/l/15 9/2/15-10/l/15 R 10/14/2015 272402CR 061198 272.02 28950 BURTON WELDING I -PORTER JOB # 1 PORTER FENCE REPAIR R 10/14/2015 41643.000R 061199 4,643.00 17820 C & K PAINT & BODY I-9/22/2015 REPAIR REAR BU14PER UNIT 11 R 10/14/2015 21351.57CR 061200 2,351.57 20410 CARE NOW CORPORATE I-955446 GREEN - WC R 10/14/2015 50.000R 061201 I-956492 NEW HIRES R 10/14/2015 214.000R 061201 264.00 -. CHRISTMAS DONE BRIGHT INC. I-IN-055764 DOWNTOWN DECORATION R 10/14/2015 11675.000R 061202 1,675.00 00590 CITY OF DENTON I -RADIO 9/2/15 REPAIRS OF CARS R 10/14/2015 97.47CR 061203 97.47 28180 D&D COIR4ERIC.AL LANDSCAPE MANAGEMENT I-11571 140WING BID #0205-15 R 10/14/2015 21371.58CR 061204 21371,58 00710 DATA BUSINESS FORMS INC. I-104730 PURCHASE ORDER BKS R 10/14/2015 319.000R 061205 319.00 10/14/2015 5:08 PM A / P CHECK REGISTER PAGE: 2 PACKET: 07683 10/14/15 due by 10/26/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK CHECK CHECK �. .. NA14E / I.D. DESC TYPE DATE DISCOUNT P14OUNT N04 AMOUNT 00840 DENTON PUBLISHING CO., INC. 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I-S2883252.003 IRRIGATION VALVE FOR POLI R 10/14/2015 45.13CR 061214 45.13 10730 MABAK DIRECTIONAL DRILLING,CORP. 1-5813 REPAIR R 10/14/2015 91650.00CR 061215 91650,00 METCALF, BRANDON I -BOOTS 2015 BOOT REIMB 2015 R 10/14/2015 100.00CR 061216 100.00 02970 OFFICE DEPOT I-794685199001 PAPER, CREAMER, SUGAR, ETC R 10/14/2015 129.98CR 061217 I-794685?89001 PENS R 10/14/2015 22.99CR 061217 I-395906054001 SUPPLIES R 10/14/2015 131.90CR 061217 I-795909071001 SUPPLIES R 10/14/2015 20.97CR 061217 I-795909072001 SUPPLIES R 10/14/2015 53.99CR 061217 I-796205054001 MARKER, BATTERIES R 10/14/2015 49.47CR 061217 I-796205054002 BATTERIES R 10/14/2015 22.71CR 061217 432.01 10/14/2015 5:08 214 A / P CHECK REGISTER PAGE: 3 PACKET: 07683 10/14/15 due by 10/26/15 VENDOR SET: 99 BANK POOL POOLED CASH ACCOUNT CHECK CHECK CHECK CHECK 3 NAME / I.D. 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I-1465602-00 SUPPLY R 10/14/2015 51400.000R 061225 I-1466108-00 TRANSFORMERS R 10/14/2015 21560.000R 061225 71960,00 * * T 0 T A L S * * N04 DISCOUNTS CHECK AMT TOTAL APPLIED REGULAR CHECKS: 34 0.00 96,441,05 96,441,05 ' HANDWRITTEN CHECKS: 0 0.00 0,00 0.00 PRE -WRITE CHECKS: 0 0.00 0,00 0.00 DRAFTS: 0 0,00 0,00 0,00 VOID CHECKS: 0 0,00 0,00 0,00 NON CHECKS: 0 0,00 0,00 0,00 CORRECTIONS: 0 0,00 0.00 0,00 REGISTER TOTALS: 34 0,00 96,441.05 06,441,05 TOTAL ERRORS: 0 TOTAL WARNINGS: 0 Tam[ Taber Sent: To: Subject: Mike & Tami: Ted Christensen <TChristensen@ govcapsecurities.com> Friday, October 02, 2015 11:39 AM Mike Brice; Tami Taber F N: Sanger agenda language Below is the agenda language for the meeting on the 19tn Thanks, Ted Christensen President Government Capital Securities Corporation 559 Silicon Drive, Suite 102 Southlake, TX 76092 (817) 722-0239 Direct (817) 300-9070 Mobile (817) 421-0487 FAX www,govca p.com From: Herzog, Marilyn J. [mailto:MHerzog@mcguirewoods.com] Sent: Friday, October 02, 2015 11:37 AM To: Ted Christensen Cc: Vu, Hoang Subject: RE: Sanger agenda language Here's the agenda language. Let us know if you need anything else. AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF SANGER, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2015; PRESCRIBING THE TERMS AND FORM THEREOF; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL THEREOF AND INTEREST THEREON; AWARDING THE SALE THEREOF; AUTHORIZING THE PREPARATION AND DISTRIBUTION OF AN OFFICIAL STATEMENT TO BE USED IN CONNECTION WITH THE SALE OF THE CERTIFICATES; MAKING OTHER PROVISIONS REGARDING SUCH CERTIFICATES, INCLUDING USE OF THE PROCEEDS THEREOF, AND MATTERS INCIDENT THERETO; <''rom: Ted Christensen [mailto:TChristensen@govcapsecurities.com] Sent: Friday, October 02, 2015 10:47 AM To: Vu, Hoang; Herzog, Marilyn J. Subject: Sanger agenda language 1 Hoang: lease email me the agenda language for the City of Sanger bond sale. Thanks, Ted Christensen President Government Capital Securities Corporation 559 Silicon Drive, Suite 102 Southlake, TX 76092 (817) 722-0239 Direct (817) 300-9070 Mobile (817) 421-0487 FAX www.govcap.com V Government Capital Securities Corporation ("GCSC'), member FINRA/SIPC. The information contained in this e-mail should not be construed as an offer, or a solicitation of an offer, to buy or sell any securities or other financial investments. The information presented should not and cannot be viewed as an indicator of future performance. The information contained in this e-mail is intended for the exclusive use of the addressee(s) and may contain confidential or privileged information. Any review, reliance or distribution by others or forwarding without the express permission of the sender is strictly prohibited. If you are not the intended recipient, please contact the sender and delete all copies. To the extent permitted by law, GCSC does not accept any liability arising from the use or retransmission of the information in this e-mail. Government Capital Securities Corporation ("GCSC'), member FINRA/SIPC. The information contained in this e-mail should not be construed as an offer, or a solicitation of an offer, to buy or sell any securities or other financial investments. The information presented should not and cannot be viewed as an indicator of future performance. The information contained in this e-mail is intended for the exclusive use of the addressee(s) and may contain confidential or privileged information. Any review, reliance or distribution by others or forwarding without the express permission of the sender is strictly prohibited. If you are not the intended recipient, please contact the sender and delete all copies. To the extent permitted by law, GCSC does not accept any liability arising from the use or retransmission of the information in this e-mail. ORDINANCE #10-2245 AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF SANGER, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2015; PRESCRIBING THE TERMS AND FORM THEREOF; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL THEREOF AND INTEREST THEREON; AWARDING THE SALE THEREOF; AUTHORIZING THE PREPARATION AND DISTRIBUTION OF AN OFFICIAL STATEMENT TO BE USED IN CONNECTION WITH THE SALE OF THE CERTIFICATES; MAKING OTHER PROVISIONS REGARDING SUCH CERTIFICATES, INCLUDING USE OF THE PROCEEDS THEREOF, AND MATTERS INCIDENT THERETO; BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SANGER: ARTICLE FINDINGS AND DETERMINATIONS Section 1.1: Findings and Determinations. The City Council hereby officially finds and determines that: (a) The City of Sanger, Texas (the "City"), acting through its City Council, is authorized pursuant to and in accordance with the provisions of Texas Local Government Code, Chapter 271, Subchapter C, as amended (the "Act"), to issue certificates of obligation to provide all or part of the funds (1) to pay all or any part of the contractual obligations to be incurred for contractual obligations to be incurred for the (i) rehabilitation, reconstruction, addition and expansion of the waste water treatment plant; (ii) rehabilitation and construction of wastewater lift stations and wastewater lines, (iii) construction of water lines and associated equipment and facilities; (iv) rehabilitation, reconstruction and construction of streets and drainage; and (v) rehabilitation of municipal facilities, and (2) for the payment of contractual obligations for professional services pursuant to Subchapter C of Chapter 271, Texas Local Government Code, as amended. (b) The City Council authorized the publication of a notice of intention to issue Combination Tax and Revenue Certificates of Obligation, Series 2015 (the "Certificates") to the effect that the City Council was tentatively scheduled to meet at 7:00 p.m. on October 19, 2015 at its regular meeting place to adopt an ordinance authorizing the issuance of the Certificates to be payable from (1) an ad valorem tax levied, within the limits prescribed by law, on the taxable property located within the City, and (ii) the surplus revenues to be derived from the City's water and sewer system (the "System") after the payment of all operation and maintenance expenses thereof (the "Net Revenues") in an amount not to exceed $10,000, provided that the pledge of Net Revenues is and shall be junior and subordinate in all respects to the pledge of Net Revenues to the payment of any obligation of the City, whether authorized heretofore or hereafter, which the City designates as having a pledge senior to the pledge of the Net Revenues to the payment of the Certificates. 70433173_1 (c) Such notice was published at the times and in the manner required by the Act. (d) No petition signed by at least live percent (5%) of the qualified voters of the City has been filed with or presented to any official of the City protesting the issuance of such Certificates on or before October 19, 2015, or the date of passage of this Ordinance. (e) The City has determined that it is in the best interests of the City and that it is otherwise desirable to issue the Certificates to provide all or part of the funds to pay contractual obligations to be incurred for the purposes authorized by the Act. ARTICLE II DEFINITIONS AND INTERPRETATIONS Section 2.1: Definitions. As used herein, the following terms shall have the meanings specified, unless the context clearly indicates otherwise: "Act" shall mean Texas Local Government Code, Chapter 271, Subchapter C, as amended. "Attorney General" shall mean the Attorney General of the State of Texas. "Certificate" or "Certificates" shall mean any or all of the City of Sanger, Texas Combination Tax and Revenue Certificates of Obligation, Series 2015, authorized by this Ordinance. "City" shall mean the City of Sanger, Texas and, where appropriate, its City Council. "City Council" shall mean the governing body of the City. "Code" shall mean the Internal Revenue Code of 1986, as amended. "Comptroller" shall mean the Comptroller of Public Accounts of the State of Texas. "DTC" shall mean The Depository Trust Company, New York, New York, or any successor securities depository. "DTC Participant" shall mean brokers and dealers, banks, trust companies, clearing corporations and certain other organizations on whose behalf DTC was created to hold securities to facilitate the clearance and settlement of securities transactions among DTC Participants. "Fiscal Year" shall mean the City's then designated fiscal year, which currently is the twelve-month period beginning on the first day of October of a calendar year and ending on the last day of September of the next succeeding calendar year and each such period may be designated with the number of the calendar year in which such period ends. 70433173_I "Interest Payment Date," when used in connection with any Certificate, shall mean February 1, 2016, and each February 1 and August I thereafter until maturity or earlier redemption of such Certificate. "Issuance Date" shall mean the date on which the Certificates are delivered to and paid foI by the Underwriter. "Ordinance" shall mean this Ordinance and all amendments hereof and supplements hereto. "Outstanding," when used with reference to the Certificates, shall mean, as of a particular date, all Certificates theretofore and thereupon delivered pursuant to this Ordinance except: (a) any Certificates canceled by or on behalf of the City at or before such date; (b) any Certificates defeased pursuant to the defeasance provisions of this Ordinance or otherwise defeased as permitted by applicable law; and (c) any Certificates in lieu of or in substitution for which a replacement Certificate shall have been delivered pursuant to this Ordinance. "Paying Agent/Registrar" shall mean BOKF, NA, and its successors in that capacity. "Record Date" shall mean the close of business on the fifteenth day of the calendar month immediately preceding the applicable Interest Payment Date. "Register" shall mean the registration books for the Certificates kept by the Paying Agent/Registrar in which are maintained the names and addresses of, and the principal amounts registered to, each Registered Owner of Certificates. "Registered Owner" shall mean the person or entity in whose name any Certificate is registered in the Register. "Underwriter" shall mean the entity or entities specified in Section 7.1 hereof. Section 2.2: Interpretations. All terms defined herein and all pronouns used in this Ordinance shall be deemed to apply equally to singular and plural and to all genders. The titles and headings of the articles and sections of this Ordinance have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof. This Ordinance and all the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein and to sustain the validity of the Certificates and the validity of the levy of ad valorem taxes to pay the principal of and interest on the Certificates. ARTICLE III TERMS OF THE CERTIFICATES Section 3.1: Amount, Purpose and Authorization. (a) The Certificates shall be issued in fully registered form, without coupons, under and pursuant to the authority of the Act in the total authorized aggregate principal amount of SIX MILLION TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($6,250,000) for the purpose of providing all or part of 70433173_I the funds to pay contractual obligations to be incurred for the purposes described in paragraph 1.1(a) hereof. Section 3.2: Designation, Date and Interest Payment Dates, The Certificates shall be designated as the "City of Sanger, Texas Combination Tax and Revenue Certificates of Obligation, Series 2015," and shall be dated November 1, 2015. The Certificates shall bear interest at the rates set forth in Section 3.3 below, from the date of delivery calculated on the basis of a 360-day year of twelve 30-day months, payable on February 1, 2016, and each February 1 and August 1 thereafter until maturity or earlier redemption. If interest on any Certificate is not paid on any Interest Payment Date and continues unpaid for thirty (30) days thereafter, the Paying Agent/Registrar shall establish a new record date for the payment of such interest, to be known as a Special Record Date. The Paying Agent/Registrar shall establish a Special Record Date when funds to make such interest payment are received from or on behalf of the City. Such Special Record Date shall be fifteen (15) days prior to the date fixed for payment of such past due interest, and notice of the date of payment and the Special Record Date shall be sent by United States mail, first class, postage prepaid, not later than five (5) days prior to the Special Record Date, to each affected Registered Owner as of the close of business on the day prior to mailing of such notice. Section 3.3: Numbers Denomination Interest Rates and Maturities. The Certificates shall be initially issued bearing the numbers, in the principal amounts and bearing interest at the rates set forth in the following schedule, and may be transferred and exchanged as set out in this Ordinance. The Certificates shall mature on August 1 in each of the years and in the amounts set out in such schedule. Certificates delivered in transfer of or in exchange for other Certificates shall be numbered in order of their authentication by the Paying Agent/Registrar, shall be in the denomination of $5,000 or integral multiples thereof and shall mature on the same date and bear interest at the same rate as the Certificate or Certificates in lieu of which they are delivered. Certificate Year of Principal Interest Number Maturi Amount Rate R4 R-2 R-3 R-4 R-5 R-6 R-7 R4 M R-10 R41 R-12 R4 3 R-14 R4 5 70433173_1 Section 3.4: Redemption Prior to Maturity. (a) The Certificates maturing on and after August 1, 2026 are subject to redemption prior to maturity, at the option of the City, in whole or in part, on August 1, 2025, or any date thereafter, at par plus accrued interest to the date fixed for redemption. (b) The Certificates maturing on August 1 in the years 20, 205 20 , 20 and 20 (the "Term Certificates") are subject to mandatory sinking fund redemption in the following amounts (subject to reduction as hereinafter provided), on the following dates, in each case at a redemption price equal to the principal amount of the Certificates or the portions thereof so called for redemption plus accrued interest to the date fixed for redemption: Mandatory Redemption Dates Principal Amounts Term Certificates Maturing August 1, 20_ August 1, 20 August 1, 20_ (stated maturity) Mandatory Redemption Dates Principal Amounts Term Certificates Maturing August 1, 20_ August 1, 20 August 1, 20_ (stated maturity) Mandatory Redemption Dates Principal Amounts Term Certificates Maturing August 1, 20_ August 1, 20_ August 1, 20 (stated maturity) Air andatory Redemption Dates Principal Amounts Term Certificates Maturing August 1, 20_ August 1, 20_ August 1, 20_ August 1, 20_ (stated maturity) The particular Term Certificates to be redeemed shall be selected by the Registrar by lot or other customary random selection method, on or before June 15 of each year in which Term Certificates are to be mandatorily redeemed. The principal amount of Term Certificates to be mandatorily redeemed in each year shall be reduced by the principal amount of such Term Certificates that have been optionally redeemed and which have not been made the basis for a previous reduction. (c) Certificates may be redeemed in part only in integral multiples of $5,000. If a Certificate subject to redemption is in a denomination larger than $5,000, a portion of such Certificate may be redeemed, but only in integral multiples of $5,000. In selecting portions of Certificates for redemption, each Certificate shall be treated as representing that number of Certificates of $5,000 denomination which is obtained by dividing the principal amount of such Certificate by $5,000. Upon presentation and surrender of any Certificate for redemption in part, the Paying Agent/Registrar, in accordance with the provisions of this Ordinance, shall authenticate and deliver in exchange therefor a Certificate or Certificates of 5 70433173_1 like maturity and interest rate in an aggregate principal amount equal to the unredeemed portion of the Certificate so surrendered. (d) Notice of any redemption, identifying the Certificates or portions thereof to be redeemed, shall be sent by United States mail, first class, postage prepaid, to the Registered Owners thereof at their addresses as shown on the Register, not less than thirty (30) days before the date fixed for such redemption. By the date fixed for redemption, due provision shall be made with the Paying Agent/Registrar for the payment of the redemption price of the Certificates called for redemption. If such notice of redemption is given, and if due provision for such payment is made, all as provided above, the Certificates which are to be so redeemed thereby automatically shall be redeemed prior to their scheduled maturities, they shall not bear interest after the date fixed for redemption, and they shall not be regarded as being Outstanding except for the purpose of being paid with the funds so provided for such payment. Section 3.5: Manner of Payment Characteristics, Execution and Authentication. The Paying Agent/Registrar is hereby appointed the paying agent for the Certificates. The Certificates shall be payable, shall have the characteristics and shall be executed, sealed, registered and authenticated, all as provided and in the manner indicated in the FORM OF CERTIFICATES set forth in Article IV of this Ordinance. If any officer of the City whose manual or facsimile signature shall appear on the Certificates shall cease to be such officer before the authentication of the Certificates or before the delivery of the Certificates, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in such office. The approving legal opinion of McGuireWoods LLP, Houston, Texas, Bond Counsel, may be printed on the back of the Certificates over the certification of the City Secretary, which may be executed in facsimile. CUSIP numbers also may be printed on the Certificates, but errors or omissions in the printing of either the opinion or the numbers shall have no effect on the validity of the Certificates. Section 3.6: Authentication. Except for the Certificates to be initially issued, which need not be authenticated by the Registrar, only such Certificates as shall bear thereon a certificate of authentication, substantially in the form provided in Article IV of this Ordinance, manually executed by an authorized representative of the Paying Agent/Registrar, shall be entitled to the benefits of this Ordinance or shall be valid or obligatory for any purpose. Such July executed certificate of authentication shall be conclusive evidence that the Certificate so authenticated was delivered by the Paying Agent/Registrar hereunder. Section 3.7: Ownership. The City, the Paying Agent/Registrar and any other person may treat the person in whose name any Certificate is registered as the absolute owner of such Certificate for the purpose of making and receiving payment of the principal thereof and interest thereon and for all other purposes, whether or not such Certificate is overdue, and neither the City nor the Paying Agent/Registrar shall be bound by any notice or knowledge to the contrary. All payments made to the person deemed to be the Registered Owner of any Certificate in accordance with this Section shall be valid and effective and shall discharge the liability of the City and the Paying Agent/Registrar upon such Certificate to the extent of the sums paid. 70433173_1 Section 3.8: Registration, Transfer and Exchange. The Paying Agent/Registrar is hereby appointed the registrar for the Certificates. So long as any Certificate remains Outstanding, the Paying Agent/Registrar shall keep the Register at the City Administrator's office in which, subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar shall provide for the registration and transfer of the Certificates in accordance with the terms of this Ordinance. Each Certificate shall be transferable only upon the presentation and surrender thereof at the principal corporate trust office of the Paying Agent/Registrar, accompanied by an assignment My executed by the Registered Owner or his authorized representative in form satisfactory to the Paying Agent/Registrar. Upon due presentation of any Certificate for transfer, the Paying Agent/Registrar shall authenticate and deliver in exchange therefor, within seventy-two (72) hours after such presentation, a new Certificate or Certificates, registered in the name of the transferee or transferees, in authorized denominations and of the same maturity and aggregate principal amount and bearing interest at the same rate as the Certificate or Certificates so presented and surrendered. All Certificates shall be exchangeable upon the presentation and surrender thereof at the principal corporate trust office of the Paying Agent/Registrar for a Certificate or Certificates, maturity and interest rate and in any authorized denomination, in an aggregate principal amount equal to the unpaid principal amount of the Certificate or Certificates presented for exchange. The Paying Agent/Registrar shall be and is hereby authorized to authenticate and deliver exchange Certificates in accordance with the provisions of this Section. Each Certificate delivered by the Paying Agent/Registrar in accordance with this Section shall be entitled to the benefits and security of this Ordinance to the same extent as the Certificate or Certificates in lieu of which such Certificate is delivered. Ali Certificates issued in transfer or exchange shall be delivered to the Registered Owners thereof at the principal corporate trust office of the Paying Agent/Registrar or sent by United States mail, first class, postage prepaid. The City or the Paying Agent/Registrar may require the Registered Owner of any Certificate to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the transfer or exchange of such Certificate. Any fee or charge of the Paying Agent/Registrar for such transfer or exchange shall be paid by the City. The Paying Agent/Registrar shall not be required to transfer or exchange any Certificate called for redemption in whole or in part during the forty-five (45) day period immediately prior to the date fixed for redemption; provided, however, that this restriction shall not apply to the transfer or exchange by the Registered Owner of the unredeemed portion of a Certificate called for redemption in part. Section 3.9: Book -Entry Only sue. The definitive Certificates shall be initially issued in the form of a separate single fully registered Certificate for each of the maturities thereof. Upon initial issuance, the ownership of each such Certificate shall be registered in the name of Cede & Co., as nominee of DTC, and except as provided in Section 3.11 hereof, all of the Outstanding Certificates shall be registered in the name of Cede & Co., as nominee of DTC. 7 70433173_1 Upon delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this Ordinance with respect to interest checks being mailed to the Owner at the close of business on the Record Date, the word "Cede & Co." in this Ordinance shall refer to such new nominee of DTC. With respect to Certificates registered in the name of Cede & Co., as nominee of DTC, the City and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC Participant or to any person on behalf of whom such a DTC Participant holds an interest in the Certificates. Without limiting the immediately preceding sentence, the City and the Paying Agent/Registrar shall have no responsibility or obligation with respect to (a) the accuracy of the records of DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in the Certificates, (b) the delivery to any DTC Participant or any other person, other than a Certificateholder, as shown on the Register, of any notice with respect to the Certificates, including any notice of redemption or (c) the payment to any DTC Participant or any other person, other than a Certificateholder as shown in the Register, of any amount with respect to principal of Certificates, premium, if any, or interest on the Certificates. Except as provided in Section 3.10 of this Ordinance, the City and the Paying Agent/Registrar shall be entitled to treat and consider the person in whose name each Certificate is registered in the Register as the absolute owner of such Certificate for the purpose of payment of principal of, premium, if any, and interest on Certificates, for the purpose of giving notices of redemption and other matters with respect to such Certificate, for the purpose of registering transfer with respect to such Certificate, and for all other purposes whatsoever. The Paying Agent/Registrar shall pay all principal of Certificates, premium, if any, and interest on the Certificates only to or upon the order of the respective owners, as shown in the Register as provided in this Ordinance, or their respective attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to payment of principal of, premium, if any, and interest on the Certificates to the extent of the sum or sums so paid. No person other than an owner shall receive a Certificate evidencing the obligation of the City to make payments of amounts due pursuant to this Ordinance. Section 3.10: Payments and Notices to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, as long as any Certificates are registered in the name A Cede & Co., as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on the Certificates, and all notices with respect to such Certificates shall be made and given, respectively, in the manner provided in the representation letter of the City to DTC. Section 3.11: Successor Securities Depository; Transfer Outside Book -Entry Only S s_�em. In the event that the City or the Paying Agent/Registrar determines that DTC is incapable of discharging its responsibilities described herein and in the representation letter of the City to DTC, and that it is in the best interest of the beneficial owners of the Certificates that they be able to obtain certificated Certificates, the City or the Paying Agent/Registrar shall (a) appoint a successor securities depository, qualified to act as such under Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC of the appointment of such successor securities depository and transfer one or more separate Certificates to such successor securities depository or (b) notify DTC of the availability through DTC of Certificates and 70433173_1 transfer one or more separate Certificates to DTC Participants having Certificates credited to their DTC accounts. In such event, the Certificates shall no longer be restricted to being registered in the Register in the name of Cede & Co., as nominee of DTC, but may be registered in the name of the successor securities depository, or its nominee, or in whatever name or names Certificateholders transferring or exchanging Certificates shall designate, in accordance with the provisions of this Ordinance. Section 3.12: Replacement Certificates. Upon the presentation and surrender to the Paying Agent/Registrar of a damaged or mutilated Certificate, the Paying Agent/Registrar shall authenticate and deliver in exchange therefor a replacement Certificate, of the same maturity, interest rate and principal amount, bearing a number not contemporaneously outstanding. The City or the Paying Agent/Registrar may require the Registered Owner of such Certificate to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Paying Agent/Registrar and the City. If any Certificate is lost, apparently destroyed or wrongfully taken, the City, pursuant to the applicable laws of the State of Texas and ordinances of the City, and in the absence of notice or knowledge that such Certificate has been acquired by a bona fide purchaser, shall execute, and the Paying Agent/Registrar shall authenticate and deliver, a replacement Certificate of the same maturity, interest rate and principal amount, bearing a number not contemporaneously outstanding, provided that the Registered Owner thereof shall have: (a) furnished to the City and the Paying Agent/Registrar satisfactory evidence of the ownership of and the circumstances of the loss, destruction or theft of such Certificate; (b) furnished such security or indemnity as may be required by the Paying Agent/Registrar and the City to save and hold them harmless; (c) paid all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or other governmental charge that may be imposed; and (d) met any other reasonable requirements of the City and the Paying Agent/Registrar. If, after the delivery of such replacement Certificate, a bona fide purchaser of the original Certificate in lieu of which such replacement Certificate was issued presents for payment such original Certificate, the City and the Paying Agent/Registrar shall be entitled to recover such replacement Certificate from the person to whom it was delivered or any person taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the City or the Paying Agent/Registrar in connection therewith. If any such mutilated, lost, apparently destroyed or wrongfully taken Certificate has become or is about to become due and payable, the City in its discretion may, instead of issuing a replacement Certificate, authorize the Paying Agent/Registrar to pay such Certificate. 70433173_I Each replacement Certificate delivered in accordance with this Section shall be entitled to the benefits and security of this Ordinance to the same extent as the Certificate or Certificates in lieu of which such replacement Certificate is delivered. Section 3.13: Cancellation. All Certificates paid or redeemed in accordance with this Ordinance, and all Certificates in lieu of which exchange Certificates or replacement Certificates are authenticated and delivered in accordance herewith, shall be canceled and destroyed upon the malting of proper records regarding such payment or redemption. The Paying Agent/Registrar shall periodically furnish the City with certificates of destruction of such Certificates. ARTICLE IV FORM OF CERTIFICATES The Certificates, including the Form of Comptroller's Registration Certificate, Form of Paying Agent/Registrar Authentication Certificate, and Form of Assignment, shall be in substantially the following forms, with such omissions, insertions and variations as may be necessary or desirable, and not prohibited by this Ordinance: 70433173_1 UNITED STATES OF AMERICA STATE OF TEXAS NUMBER R- REGISTERED 0 DENOMINATION REGISTERED CITY OF SANGER, TEXAS COMBINATION TAX AND REVENUE CERTIFICATE OF OBLIGATION SERIES 2015 INTEREST RATE: DELIVERY DATE: MATURITY DATE: CUSIP: DATED DATE: PRINCIPAL AMOUNT: November 11, 2015 November 1, 2015 OPPENHEIMER & CO. 20 :11: • AND NO/100 DOLLARS THE CITY OF SANGER, TEXAS, a municipal corporation of the State of Texas (the "City"), for value received, hereby promises to pay to the Registered Owner identified above or its registered assigns, on the maturity date specified above (or on earlier redemption as herein provided), upon presentation and surrender of this Certificate at the principal corporate trust office of BOKF, NA, Austin, Texas, or its successor (the "Paying Agent/Registrar"), the principal amount identified above (or so much thereof as shall not have been paid or deemed to have been paid upon prior redemption) payable in any coin or currency of the United States of America which on the date of payment of such principal is legal tender for the payment of debts due to the United States of America, and to pay interest thereon at the rate shown above, calculated on a basis of a 360-day year composed of twelve 30-day months, from the date of delivery. Interest on this Certificate is payable on February 1, 2016, and each February 1 and August 1 thereafter until maturity or earlier redemption of this Certificate, by check sent by United States mail, first class, postage prepaid, by the Paying Agent/Registrar to the Registered Owner of record as of the close of business on the fifteenth day of the calendar month immediately preceding the applicable interest payment date, as shown on the registration books kept by the Paying Agent/Registrar. Any accrued interest payable at maturity or earlier redemption shall be paid upon presentation and surrender of this Certificate at the principal corporate trust office of the Paying Agent/Registrar. THIS CERTIFICATE IS ONE OF A DULY AUTHORIZED SERIES OF CERTIFICATES (the "Certificates") in the aggregate principal amount of $6,250,000 issued pursuant to an ordinance adopted by the City Council of the City on October 19, 2015 (the "Ordinance") for the purpose of providing all or part of the funds (1) to pay all or any part of the contractual obligations to be incurred for contractual obligations to be incurred for the (i) rehabilitation, reconstruction, addition and expansion of the waste water treatment plant; (ii) rehabilitation and construction of wastewater lift stations and wastewater lines, (iii) construction 11 70433173_1 A water lines and associated equipment and facilities; (iv) rehabilitation, reconstruction and construction of streets and drainage; and (v) rehabilitation of municipal facilities, and (2) for the payment of contractual obligations for professional services pursuant to Subchapter C of Chapter M, Texas Local Government Code, as amended. THIS CERTIFICATE shall not be valid or obligatory for any purpose or be entitled to any benefit under the Ordinance unless this Certificate either (i) is registered by the Comptroller A Public Accounts of the State of Texas by due execution of the registration certificate endorsed hereon or (ii) is authenticated by the Paying Agent/Registrar by due execution of the authentication certificate endorsed hereon. THE CITY RESERVES THE RIGHT, at its option, to redeem, prior to their maturity, Certificates maturing on and after August 1, 2026, in whole or in part, on August 1, 2025, or any date thereafter, at par plus accrued interest to the date fixed for redemption. THE CERTIFICATES MATURING ON AUGUST 1 in the years 20, 20 , 20, 20 and 20 (the "Term Certificates") are subject to mandatory sinking fund redemption in the following amounts (subject to reduction as hereinafter provided), on the following dates, in each case at a redemption price equal to the principal amount of the Certificates or the portions thereof so called for redemption plus accrued interest to the date fixed for redemption: Term Certificates Maturing August 1, 20_ Term Certificates Maturing August 1, 20 Term Certificates Maturing August 1, 20_ Term Certificates Maturing August 1, 20_ Mandatory Redemption Dates Principal Amounts August 1, 20 August 1, 20 (stated maturity) Mandatory Redemption Dates Principal Amounts August 1, 20 August 1, 20 (stated maturity) Mandatory Redemption Dates Principal Amounts August 1, 20 August 1, 20_ (stated maturity) Mandatory Redemption Dates Principal Amounts August 1, 20 August 1, 20 August 1, 20_ (stated maturity) The particular Term Certificates to be redeemed shall be selected by the Registrar by lot or other customary random selection method, on or before June 15 of each year in which Term Certificates are to be mandatorily redeemed. The principal amount of Term Certificates to be mandatorily redeemed in each year shall be reduced by the principal amount of such Term Certificates that have been optionally redeemed and which have not been made the basis for aU previous reduction. 12 70433173_1 CERTIFICATES MAY BE REDEEMED IN PART only in integral multiples of $5,000. If a Certificate subject to redemption is in a denomination larger than $5,000, a portion of such Certificate may be redeemed, but only in integral multiples of $5,000. In selecting portions of Certificates for redemption, each Certificate shall be treated as representing that number of Certificates of $5,000 denomination which is obtained by dividing the principal amount of such Certificate by $5,000. Upon surrender of any Certificate for redemption in part, the Paying Agent/Registrar, in accordance with the provisions of the Ordinance, shall authenticate and deliver in exchange therefor a Certificate or Certificates of like maturity and interest rate in an aggregate principal amount equal to the unredeemed portion of the Certificate so surrendered. NOTICE OF ANY SUCH REDEMPTION, identifying the Certificates or portions thereof to be redeemed, shall be sent by United States mail, first class, postage prepaid, to the Registered Owners thereof at their addresses as shown on the books of registration kept by the Paying Agent/Registrar, not less than thirty (30) days before the date fixed for such redemption. By the date fixed for redemption, due provision shall be made with the Paying Agent/Registrar For the payment of the redemption price of the Certificates called for redemption. If such notice of redemption is given, and if due provision for such payment is made, all as provided above, the Certificates which are to be so redeemed thereby automatically shall be redeemed prior to their scheduled maturities, they shall not bear interest after the date fixed for redemption, and they shall not be regarded as being outstanding except for the purpose of being paid with the funds so provided for such payment. THIS CERTIFICATE IS TRANSFERABLE only upon presentation and surrender at the principal corporate trust office of the Paying Agent/Registrar, accompanied by an assignment duly executed by the Registered Owner or its authorized representative, subject to the terms and conditions of the Ordinance. THIS CERTIFICATE IS EXCHANGEABLE at the principal corporate trust office of the Paying Agent/ Registrar for a Certificate or Certificates of the same maturity and interest rate and in the principal amount of $5,000 or any integral multiple thereof, subject to the terms and conditions of the Ordinance. THE PAYING AGENT/REGISTRAR is not required to accept for transfer or exchange any Certificate called for redemption, in whole or in part, during the forty-five (45) day period immediately prior to the date fixed for redemption; provided, however, that such limitation shall not apply to the transfer or exchange by the Registered Owner of an unredeemed portion of a Certificate called for redemption in part. THE CITY OR PAYING AGENT/REGISTRAR may require the Registered Owner of any Certificate to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the transfer or exchange of a Certificate. Any fee or charge of the Paying Agent/Registrar for a transfer or exchange shall be paid by the City. THE REGISTERED OWNER of this Certificate by acceptance hereof, acknowledges and agrees to be bound by all the terms and conditions of the Ordinance. 13 70433173_1 IT IS HEREBY DECLARED AND REPRESENTED that this Certificate has been duly and validly issued and delivered; that all acts, conditions and things required or proper to be performed, exist and to be done precedent to or in the issuance and delivery of this Certificate have been performed, exist and have been done in accordance with law; that the Certificates do not exceed any constitutional or statutory limitation; and 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, within the limits prescribed by law, against all taxable property in the City and have been irrevocably pledged for such payment. IT IS FURTHER DECLARED AND REPRESENTED that the surplus revenues to be derived from the City's water and sewer system, after the payment of all operation and maintenance expenses thereof (the "Net Revenues"), in an amount not to exceed $10,000, are pledged to the payment of the principal of and interest on the Certificates, provided that the pledge of Net Revenues is and shall be junior and subordinate in all respects to the pledge of Net Revenues to the payment of any obligation of the City, whether authorized heretofore or hereafter, which the City designates as having a pledge senior to the pledge of the Net Revenues to the payment of the Certificates. The City also reserves the right to issue, for any lawful purpose at any time, in one or more installments, bonds, certificates of obligation and other obligations of any kind, secured in whole or in part by a pledge of Net Revenues, that may be prior and superior in right to, on a parity with, or junior and subordinate to the pledge of Net Revenues securing the Certificates. REFERENCE IS HEREBY MADE TO THE ORDINANCE, a copy of which is filed with the Paying Agent/Registrar, for the full provisions thereof, to all of which the Registered Owners of the Certificates assent by acceptance of the Certificates. IN WITNESS WHEREOF, the City has caused its corporate seal to be impressed or placed in facsimile hereon and this Certificate to be signed by the Mayor, countersigned by the City Secretary by their manual, lithographed or printed facsimile signatures. CITY OF SANGER TEXAS Mayor (SEAL) COUNTERSIGNED: City Secretary 14 70433173_1 FORM OF COMPTROLLER'S REGISTRATION CERTIFICATE The following form of Comptroller's Registration Certificate shall be attached or affixed to each of the Certificates initially delivered: THE STATE OF TEXAS REGISTER NO. OFFICE OF THE COMPTROLLER OF PUBLIC ACCOUNTS I hereby certify that this certificate has been examined, certified as to validity and approved by the Attorney General of the State of Texas, and that this certificate has been registered by the Comptroller of Public Accounts of the State of Texas. WITNESS MY SIGNATURE AND SEAL OF OFFICE this Comptroller of Public Accounts of the State of Texas [SEAL] FORM OF PAYING Aur. DPEGISTRAR'S AUTHENTICATION CERTIFICATE The following form of authentication certificate shall be printed on the face of each of the Certificates other than those initially delivered: AUTHENTICATION CERTIFICATE By: Authorized Signature Date of Authentication: 70433173_1 FORM OF ASSIGNMENT The following form of assignment shall be printed on the back of each of the Certificates: ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto (Please print or type name, address, and zip code of Transferee) (Please insert Social Security or Taxpayer Identification Number of Transferee) the within bond and all rights thereunder, and hereby irrevocably constitutes and appoints attorney to transfer such bond on the books kept for registration thereof, with full power of substitution in the premises. DATED: Signature Guaranteed: Registered Owner NOTICE: The signature above must correspond to the name of the Registered Owner as shown on the face of this bond in NOTICE: Signature must be guaranteed by a every particular, without any alteration, member firm of the New York Stock Exchange enlargement or change whatsoever. or a commercial bank or trust company. ARTICLE V SECURITY FOR THE CERTIFICATES Section 5.1: Pledge and Levy of Taxes and Revenues. (a) To provide for the payment of principal of and interest on the Certificates, there is hereby levied, within the limits prescribed by law, for the current year and each succeeding year thereafter, while the Certificates or any part of the principal thereof and the interest thereon remain outstanding and unpaid, an ad valorem tax upon all taxable property within the City sufficient to pay the interest on the Certificates and to create and provide a sinking fund of not less than 2% of the principal amount of the Certificates or not less than the principal payable out of such tax, whichever is greater, with full allowance being made for tax delinquencies and the costs of tax collection, and such taxes, when collected, shall be applied to the payment of principal of and interest on the Certificates by deposit to the Combination Tax and Revenue Certificates of Obligation, Series 2015 Debt Service Fund and to no other purpose. (b) The City hereby declares its purpose and intent to provide and levy a tax legally sufficient to pay the principal of and interest on the Certificates, it having been determined that the existing and available taxing authority of the City for such purpose is adequate to permit a legally sufficient tax. As long as any Certificates remain outstanding, all moneys on deposit in, or credited to, the Combination Tax and Revenue Certificates of Obligation, 70433173_1 Series 2015 Debt Service Fund shall be secured by a pledge of security, as provided by law for cities in the State of Texas. (c) In addition, pursuant to the authority of Chapter 1502, Texas Government Code, as amended, the City also hereby pledges the surplus revenues to be derived from the City's water and sewer system, after the payment of all operation and maintenance expenses thereof the "Net Revenues"), in an amount not to exceed $10,000, to the payment of the principal of and interest on the Certificates, provided that the pledge of Net Revenues is and shall be junior and subordinate in all respects to the pledge of Net Revenues to the payment of any obligation of the City, whether authorized heretofore or hereafter, which the City designates as having a pledge senior to the pledge of the Net Revenues to the payment of the Certificates. The City also reserves the right to issue, for any lawful purpose at any time, in one or more installments, bonds, certificates of obligation and other obligations of any kind, secured in whole or in part by a pledge of Net Revenues, that may be prior and superior in right to, on a parity with, or junior and subordinate to the pledge of Net Revenues securing the Certificates. Section 5.2: Debt Service Fund. The Combination Tax and Revenue Certificates of Obligation, Series 2015 Debt Service Fund is hereby created as a special fund solely for the benefit of the Certificates. The City shall establish and maintain such fund at an official City depository and shall keep such fund separate and apart from all other funds and accounts of the City. Any amount on deposit in the Certificates of Obligation, Series 2015 Debt Service Fund shall be maintained by the City in trust for the Registered Owners of the Certificates. Such amount, plus any other amounts deposited by the City into such fund and any and all investment earnings on amounts on deposit in such fund, shall be used only to pay the principal of, premium, if any, and interest on the Certificates. Section 5.3: Further Proceedings. After the Certificates to be initially issued have been executed, it shall be the duty of the Mayor to deliver the Certificates to be initially issued and aii pertinent records and proceedings to the Attorney General for examination and approval. After the Certificates to be initially issued shall have been approved by the Attorney General, they shall be delivered to the Comptroller for registration. Upon registration of the Certificates to be initially issued, the Comptroller (or a deputy lawfully designated in writing to act for the Comptroller) shall manually sign the Comptroller's registration certificate prescribed herein to be affixed or attached to the Certificates to be initially issued, and the seal of said Comptroller shall be impressed, or placed in facsimile, thereon. ARTICLE VI CONCERNING THE PAYING AGENT/REGISTRAR Section 6.1: Acceptance. BOKF, NA, Austin, Texas, is hereby appointed as the initial Paying Agent/Registrar for the Certificates pursuant to the terms and provisions of the Paying Agent/Registrar Agreement by and between the City and the Paying Agent/Registrar. The Paying Agent/Registrar Agreement shall be substantially in the form attached hereto as Exhibit A. the terms and provisions of which are hereby approved, and the Mayor is hereby authorized to execute and deliver such Paying Agent/Registrar Agreement on behalf of the City 17 70433173_1 in multiple counterparts and the City Secretary is hereby authorized to attest thereto and affix the City's seal. Such initial Paying Agent/Registrar and any successor Paying Agent/Registrar, by undertaking the performance of the duties of the Paying Agent/Registrar hereunder, and in consideration of the payment of any fees pursuant to the terms of any contract between the Paying Agent/Registrar and the City and/or the deposits of money pursuant to this Ordinance, shall be deemed to accept and agree to abide by the terms of this Ordinance. Section 6.2: Trust Funds. All money transferred to the Paying Agent/Registrar in its capacity as Paying Agent/Registrar for the Certificates under this Ordinance (except any sums representing Paying Agent/Registrar's fees) shall be held in trust for the benefit of the City, shall be the property of the City and shall be disbursed in accordance with this Ordinance. Section 6.3: Certificates Presented. Subject to the provisions of Section 6.4, all matured Certificates presented to the Paying Agent/Registrar for payment shall be paid without the necessity of further instructions from the City. Such Certificates shall be canceled as provided herein. Section 6.4: Unclaimed Funds Held by the Pang Agent/Re i� stray. Funds held by the Paying Agent/Registrar that represent principal of and interest on the Certificates remaining unclaimed by the Registered Owner thereof after the expiration of three years from the date such funds have become due and payable (a) shall be reported and disposed of by the Paying Agent/Registrar in accordance with the provisions of Title 6 of the Texas Property Code, as amended, to the extent such provisions are applicable to such funds, or (b) to the extent such provisions do not apply to the funds, such funds shall be paid by the Paying Agent/Registrar to the City upon receipt by the Paying Agent/Registrar of a written request therefor from the City. The Paying Agent/Registrar shall have no liability to the Registered Owners of the Certificates by virtue of actions taken in compliance with this Section. Section 6.5: Paying A eng t/Re�istrar May Own Certificates. The Paying Agent/Registrar in its individual or any other capacity, may become the owner or pledgee of Certificates with the same rights it would have if it were not the Paying Agent/Registrar. Section 6.6: Successor Paying Agents/Registrars. The City covenants that at all times while any Certificates are Outstanding it will provide a legally qualified bank, trust company, financial institution or other agency to act as Paying Agent/Registrar for the Certificates. The City reserves the right to change the Paying Agent/Registrar for the Certificates on not less than sixty (60) days' written notice to the Paying Agent/Registrar, as long as any such notice is effective not less than 60 days prior to the next succeeding principal or interest payment date on the Certificates. Promptly upon the appointment of any successor Paying Agent/Registrar, the previous Paying Agent/Registrar shall deliver the Register or a copy thereof to the new Paying Agent/Registrar, and the new Paying Agent/Registrar shall notify each Registered Owner, by United States mail, first class, postage prepaid, of such change and of the address of the new Paying Agent/Registrar. Each Paying Agent/Registrar hereunder, by acting in that capacity, shall be deemed to have agreed to the provisions of this Ordinance. 70433173_l ARTICLE VII PROVISIONS CONCERNING SALE AND APPLICATION OF PROCEEDS OF CERTIFICATES Section 7.1: Sale of Certificates• Execution of Purchase Agreement. The Certificates are hereby sold and shall be delivered to Oppenheimer & Co. for a price of $ (representing the par value thereof, plus a net original issue premium of $ on the Certificates, and less an underwriting discount of $ ), in accordance with the terms of and conditions in the Purchase Agreement. The Purchase Agreement, substantially in the form attached hereto as Exhibit C, is hereby approved. The Mayor and other appropriate officials of the City are hereby authorized and directed to execute the Purchase Agreement on behalf of the City, and the Mayor and all other appropriate officials, agents and representatives of the City are hereby authorized to do any and all things necessary or desirable to satisfy the conditions set out therein and to provide for the issuance and delivery of the Certificates. It is hereby found and determined that the teams of the sale of the Certificates contained in the Purchase Agreement are the most advantageous terms reasonably obtainable by the City at this time. Section 7.2: Approval, Registration and Delivery. The Mayor is hereby authorized to have control and custody of the Certificates and all necessary records and proceedings pertaining thereto pending their delivery, and the Mayor and other officers and employees of the City are hereby authorized and directed to make such certifications and to execute such instruments as may be necessary to accomplish the delivery of the Certificates and to assure the investigation, examination and approval thereof by the Attorney General and the registration of the initial Certificates by the Comptroller. Upon registration of the Certificates, the Comptroller (or the Comptroller's certificates clerk or an assistant certificates clerk lawfully designated in writing to act for the Comptroller) shall manually sign the Comptroller's Registration Certificates prescribed herein to be attached or affixed to each Certificates initially delivered and the seal of the Comptroller shall be impressed or printed or lithographed thereon. Section 7.3: Offering_ Documents; Ratings. The City hereby approves the form and contents of the Preliminary Official Statement and the final Official Statement, dated as of the date hereof, relating to the Certificates, and any addenda, supplement or amendment thereto, and ratifies and approves the distribution of such Preliminary Official Statement substantially in the foam attached hereto as Exhibit B and Official Statement in the offer and sale of the Certificates and in the reoffering of the Certificates by the Underwriter, with such changes therein or additions thereto as the officials executing same may deem advisable, such determination to be conclusively evidenced by their execution thereof. The Mayor is hereby authorized and directed to execute, and the City Secretary is hereby authorized and directed to attest, the final Official Statement. It is further hereby officially found, determined and declared that the statements and representations contained in the Preliminary Official Statement and final Official Statement are true and correct in all material respects, to the best knowledge and belief of the City Council, and that, as of the date thereof, the Preliminary Official Statement was an official statement of the City with respect to the Certificates that was deemed "final" by an authorized official of the City except for the omission of no more than the information permitted by subsection (b)(1) of Rule 15c2-12 of the Securities and Exchange Commission. 19 70433173_I Further, the City Council hereby ratifies, authorizes and approves the actions of the Mayor, the City's financial advisor and other consultants in seeking a rating on the Certificates from Moody's Investors Service, Inc. and such actions are hereby ratified and confirmed. Section 7.4: Application of Proceeds of Certificates. Proceeds from the sale of the Certificates shall, promptly upon receipt by the City, be applied as follows: (1) A portion of the proceeds shall be applied to pay expenses arising in connection with the issuance of the Certificates; and (2) The remaining proceeds shall be applied, together with other funds of the City, to provide funds to pay contractual obligations to be incurred for the purposes set forth in Section 3.1 of this Ordinance. Section 7.5: Covenants to Maintain Tax Exempt Status. (a) Definitions. When used in this Section, the following terms have the following meanings: "Code" means the Internal Revenue Code of 1986, as amended by all legislation, if any, enacted on or before the Issue Date. "Computation Date" has the meaning stated in section 1.148-1(b) of the Regulations. "Gross Proceeds" has the meaning stated in section 1.148-1(b) of the Regulations. "Investment" has the meaning stated in section 1.148-1(b) of the Regulations. "Issue Date" for the Certificates or other obligations of the City is the respective date on which such obligations of the City are delivered against payment therefor. "Net Sale Proceeds" has the meaning stated in section 1.148-1(b) of the Regulations. "Nonpurpose Investment" has the meaning stated in section 1.148-1(b) of the Regulations. "Proceeds" has the meaning stated in section 1.148-1(b) of the Regulations. "Rebate Amount" has the meaning stated in section 1.148-3 of the Regulations. "Regulations" means the temporary or final Income Tax Regulations applicable to the Certificates issued pursuant to sections 141 through 150 of the Code. Any reference to a section of the Regulations shall also refer to any successor provision to such section hereafter promulgated by the Internal Revenue Service pursuant to sections 141 through 150 of the Code and applicable to the Certificates. I� 1 70433173_1 "Yield of (1) any Investment shall be computed in accordance with section 1.148-5 of the Regulations, and (2) the Certificates shall be computed in accordance with section 1.1484 of the Regulations. (b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use of or omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner which, if made or omitted, respectively, would cause the interest on any Certificates to become includable in the gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the generality of the foregoing, unless and until the City shall have received a written opinion of counsel nationally recognized in the field of municipal bond law to the effect that failure to comply with such covenant will not adversely affect the exemption from federal income tax of the interest on any Certificate, the City shall comply with each of the specific covenants in this Section. (c) No Private Use or Private Payments. Except as permitted by section 141 of the Code and the regulations and rulings thereunder, the City shall, at all times prior to the last stated maturity of the Certificates, (1) exclusively own, operate, and possess all property the acquisition, construction, or improvement of which is to be financed directly or indirectly with Gross Proceeds of the Certificates and not use or permit the use of such Gross Proceeds or any property acquired, constructed, or improved with such Gross Proceeds in any activity carried on by any person or entity other than a state or local government, unless such use is solely as a member of the general public, or (2) not directly or indirectly impose or accept any charge or other payment for use of Gross Proceeds of the Certificates or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with such Gross Proceeds other than taxes of general application and interest earned on investments acquired with such Gross Proceeds pending application for their intended purposes. (d) No Private Loan. Except to the extent permitted by section 141 of the Code and the regulations and rulings thereunder, the City shall not use Gross Proceeds of the Certificates to make or finance loans to any person or entity other than a state or local government. For purposes of the foregoing covenant, Gross Proceeds are considered to be "loaned" to a person or entity if (1) property acquired, constructed or improved with Gross Proceeds is sold or leased to such person or entity in a transaction which creates a debt for federal income tax purposes, (2) capacity in or service from such property is committed to such person or entity under a take -or -pay, output, or similar contract or arrangement, or (3) indirect benefits, or burdens and benefits of ownership, of such Gross Proceeds or such 21 70433173_I property are otherwise transferred in a transaction which is the economic equivalent of a loan. (e) Not to Invest at Higher Yield. Except to the extent permitted by section 148 of the Code and the regulations and rulings thereunder, the City shall not, at any time prior to the earlier of the final stated maturity or final payment of the Certificates, directly or indirectly invest Gross Proceeds of such Certificates in any Investment (or use such Gross Proceeds to replace money so invested), if as a result of such investment the Yield of all Investments allocated to such Gross Proceeds whether then held or previously disposed of, exceeds the Yield on the Certificates. (f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of the Code and the regulations and rulings thereunder, the City shall not take or omit to take any action which would cause the Certificates to be federally guaranteed within the meaning of section 149(b) of the Code and the regulations and rulings thereunder. (g) Information Report. The City shall timely file with the Secretary of the Treasury the information required by section 149(e) of the Code with respect to the Certificates on such forms and in such place as such Secretary may prescribe. (h) Payment of Rebate Amount. Except to the extent otherwise provided in section 148(f) of the Code and the regulations and rulings thereunder, the City shall: (1) account for all Gross Proceeds (including all receipts, expenditures and investments thereof) on its books of account separately and apart from all other funds (and receipts, expenditures and investments thereof) and shall retain all records of such accounting for at least six years after the final Computation Date, The City may, however, to the extent permitted by law, commingle Gross Proceeds of the Certificates with other money of the City, provided that the City separately accounts for each receipt and expenditure of such Gross Proceeds and the obligations acquired therewith, (2) calculate the Rebate Amount with respect to the Certificates, not less frequently than each Computation Date, in accordance with rules set forth in section 148(f) of the Code, section 1.148.3 of the Regulations, and the rulings thereunder and shall maintain a copy of such calculations for at least six years after the final Computation Date, (3) as additional consideration for the purchase of the Certificates by the initial purchaser thereof and the loan of the money represented thereby, and in order to induce such purchase by measures designed to ensure the excludability of the interest thereon from the gross income of the owners thereof for federal income tax purposes, pay to the United States the amount described in paragraph (2) above at the times, in the installments, to the place, in the manner and accompanied by such forms or other information as is or may be required by section 148(f) of the Code and the regulations and rulings thereunder, and (4) exercise reasonable diligence to assure that no errors are made in the calculations required by paragraph (2) and, if such error is made, to discover and 22 70433173_1 promptly to correct such error within a reasonable amount of time thereafter, including payment to the United States of any interest and any penalty required by the Regulations. V) Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the regulations and rulings thereunder, the City shall not, at any time prior to the earlier of the final stated maturity or final payment of the Certificates, enter into any transaction that reduces the amount required to be paid to the United States pursuant to Subsection (h) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at aim's length and had the Yield of the Certificates not been relevant to either party. (j) Not Hedge Bonds. The City will not invest more than 50 percent of the Proceeds of the Certificates in Nonpurpose Investments having a guaranteed yield for four years or more. On the Issue Date of the Certificates, the City will reasonably expect that at least 85 percent of the Net Sale Proceeds will be used to carry out the governmental purpose of such series within three years after such Issue Date. (lc) The City will not issue or use the Certificates as part of an "abusive arbitrage device" (as defined in Section 1.1484 0(a) of the Regulations). Without limiting the foregoing, the Certificates are not and will not be a part of a transaction or series of transactions that attempts to circumvent the provisions of Section 148 of the Code and the Regulations, by (i) enabling the City to exploit the difference between tax-exempt and taxable interest rates to gain a material financial advantage, or (ii) increasing the burden on the market for tax-exempt obligations. (1) Proper officers of the City charged with the responsibility for issuing the Certificates are hereby directed to make, execute and deliver certifications as to facts, estimates or circumstances in existence as of the date of issuance of the Certificates and stating whether there are facts, estimates or circumstances that would materially change the City's expectations. On or after the date of issuance of the Certificates, the City will take such actions as are necessary and appropriate to assure the continuous accuracy of the representations contained in such certificates. (m)The City hereby designates the Certificates as "qualified tax-exempt obligations" as defined in section 265(b)(3) of the Code. In furtherance of such designation, the City represents, covenants and warrants the following: (a) that during the calendar year in which the Certificates are issued, the City (including any subordinate entities) has not designated or will designate obligations that when aggregated with the Certificates, will result in more than $10,000,000 of "qualified tax-exempt obligations" being issued; and (b) that the City reasonably anticipates that the amount of tax-exempt obligations issued, during the calendar year in which the Certificates are issued, by the City (or any subordinate entities) will not exceed $10,000,000. (n) The covenants and representations made or required by this Section are for the benefit of the Certificate holders and any subsequent Certificate holder, and may be relied upon by the Certificate holders and any subsequent Certificate holder and bond counsel to the City. 23 70433173_1 (o) In complying with the foregoing covenants, the City may rely upon an unqualified opinion issued to the City by nationally recognized bond counsel that any action by the City or reliance upon any interpretation of the Code or Regulations contained in such opinion will not cause interest on the Certificates to be includable in gross income for federal income tax purposes under existing law. Notwithstanding any other provision of this Ordinance, the City's representations and obligations under the covenants and provisions of this Section 7.5 all survive the defeasance and discharge of the Certificates for as long as such matters are relevant to the exclusion of interest on the Certificates from the gross income of the owners for federal income tax purposes. Section 7.6: Related Matters. In order that the City shall satisfy in a timely manner all of its obligations under this Ordinance, the Mayor, the Mayor, City Secretary and all other appropriate officers, agents, representatives and employees of the City are hereby authorized and directed to take all other actions that are reasonably necessary to provide for the issuance and delivery of the Certificates, including, without limitation, executing and delivering on behalf of the City all certificates, consents, receipts, requests, notices, and other documents as may be reasonably necessary to satisfy the City's obligations under this Ordinance and to direct the transfer and application of funds of the City consistent with the provisions of this Ordinance. ARTICLE VIII CONTINUING DISCLOSURE UNDERTAKING Section 8.1: Continuing Disclosure Undertaking. The City shall provide annually to the MSRB, within six (6) months after the end of each fiscal year and in an electronic format prescribed by the MSRB and available via the Electronic Municipal Market Access (" EMMA") system at www,emma,msrb.org, financial information and operating data with respect to the City A the general type described in the Official Statement, being the information described in Exhibit D attached hereto. Any financial statements so to be provided shall be (a) prepared in accordance with generally accepted accounting principles for governmental units as prescribed by the Government Accounting Standards Board from time to time, as such principles may be changed from time to time to comply with state or federal law or regulation and (b) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If audited financial statements are not available at the time the financial information and operating data must be provided, then the City shall provide unaudited financial statements for the applicable fiscal year to the MSRB and shall provide to the MSRB audited financial statements, when and if the same become available. If the City changes its Fiscal Year, it will notify the MSRB of the change (and of the date of the new fiscal year end) prior to the next date by which the City otherwise would be required to provide financial information and operating data pursuant to this Article. The financial information and operating data to be provided pursuant to this Article may be set forth in full in one or more documents or may be included by specific reference to documents (i) available to the public on the MSRB's internet web site or (ii) filed with the SEC. 24 70433173_1 Section 8.2: Material Event Notices. The City shall notify the MSRB in an electronic format prescribed by the MSRB, in a timely manner (not in excess of ten (10) days after the occurrence of the event), of any of the following events with respect to the Certificates: (i) Principal and interest payment delinquencies; Non-payment related defaults, if material; (iii) Unscheduled draws on debt service reserves reflecting financial difficulties; (iv) Unscheduled draws on credit enhancements reflecting financial difficulties; (v) Substitution of credit or liquidity providers or their failure to perform; (vi) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Certificates, or other material events affecting the tax status of the Certificates; (vii) Modifications to rights of holders of the Certificates, if material; (viii) Bond calls, if material, and tender offers; (ix) Defeasances; (x) Release, substitution, or sale of property securing repayment of the Certificates, if material; (xi) Rating changes; (xii) Bankruptcy, insolvency, receivership or similar event of the City; (xiii) The consummation of a merger, consolidation, or acquisition involving the City or the sale of all or substantially all of the assets of the City, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and (xiv) Appointment of a successor or additional trustee or the change of name of a trustee, if material. The City shall notify the MSRB in an electronic format prescribed by the MSRB, in a timely manner, of any failure by the City to provide financial information or operating data in accordance with this Section by the time required by such Section. Section 8.3: Identifying Information. All documents provided to the MSRB shall be accompanied by identifying information, as prescribed by the MSRB. Section 8.4: Limitations Disclaimers and Amendments. The City shall be obligated to observe and perform the covenants specified in this Article for so long as, but only for so long as, the City remains an "obligated person" with respect to the Certificates within the meaning of the Rule, except that the City in any event will give the notice required by this Article of any Bond calls and defeasance that cause the City to be no longer such an "obligated person." 25 70433173_1 The provisions of this Article are for the sole benefit of the Holders and beneficial owners of the Certificates, and nothing in this Article, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. The City undertakes to provide only the financial information, operating data, principal statements, and notices which it has expressly agreed to provide pursuant to this Article and does not hereby undertake to provide any other information that may be relevant or material to a complete presentation of the City's financial results, condition, or prospects or hereby undertake to update any information provided in accordance with this Article or otherwise, except expressly provided herein. The City does not make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell Certificates at any future date. UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS ARTICLE, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE. No default by the City in observing or performing its obligations under this Article shall constitute a breach of or default under this Ordinance for purposes of any other provision of this Ordinance. Nothing in this Article is intended or shall act to disclaim, waive, or otherwise limit the duties of the City under federal and state securities law. The provisions of this Section may be amended by the City from time to time to adapt to changed circumstances that arise from a change in legal requirements, a change in law, or a change in the identity, nature, status, or type of operations of the City, but only if (1) the provisions of this Section, as so amended, would have permitted an underwriter to purchase or sell the Certificates in the primary offering of the Certificates in compliance with the Rule, taking into account any amendments or interpretations of the Rule to the date of such amendment, as well as such changed circumstances, and (2) either (a) the Registered Owners of a majority in aggregate principal amount (or any greater amount required by any other provision of this Ordinance that authorizes such an amendment) of the Outstanding Certificates consent to such amendment or (b) a person that is unaffiliated with the City (such as nationally recognized bond counsel) determines that such amendment will not materially impair the interests of the Registered Owners and beneficial owners of the Certificates. If the City so amends the provisions of this Section, it shall include with any amended financial information or operating data next provided in accordance with this Section an explanation, in narrative form, of the reasons for the amendment and of the impact of any change in the type of financial information or operating data so provided. The City may also amend or repeal the provisions of this Section if the SEC amends or repeals the applicable provisions of the Rule or a court of final jurisdiction enters judgment that such provisions of the Rule are invalid, and the City also may amend the provisions of this Section in its discretion in any other manner or circumstance, but in any case only if and to the extent that the provisions of this sentence would not have prevented an 26 70433173_1 underwriter from lawfully purchasing or selling Certificates in the primary offering of the Certificates, giving effect to (a) such provisions as so amended and (b) any amendments or interpretations of the Rule. Section 8.5: Definitions. As used in this Article, the following terms have the meanings ascribed to such terms below: "MSRB" means the Municipal Secures Rulemaking Board. "Rule" means SEC Rule 15c2-125 as amended from time to time. "SEC" means the United States Securities and Exchange Commission. ARTICLE IX MISCELLANEOUS Section 9.1: Defeasance. Subject to Section 10.8 hereof, the City may defease the provisions of this Ordinance and discharge its obligations to the Registered Owners of any or all of the Certificates to pay the principal of and interest thereon in any manner permitted by law, including by depositing with the Paying Agent/Registrar or with the Comptroller of Public Accounts of the State of Texas either: (a) cash in an amount equal to the principal amount of such Certificates plus interest thereon to the date of maturity or redemption; or (b) pursuant to an escrow or trust agreement, cash and/or (i) direct noncallable obligations of United States of America, including obligations that are unconditionally guaranteed by the United States of America; (ii) noncallable obligations of an agency or instrumentality of the United States, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the governing body of the issuer adopts or approves the proceedings authorizing the issuance of refunding bonds, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent; or (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the governing body of the issuer adopts or approves the proceedings authorizing the issuance of refunding bonds, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent, which, in the case of (i), (ii) or (iii), may be in book -entry form, and the principal of and interest on which will, when due or redeemable at the option of the holder, without further investment or reinvestment of either the principal amount thereof or the interest earnings thereon, provide money in an amount which, together with other moneys, if any, held in such escrow at the same time and available for such purpose, shall be sufficient to provide for the timely payment of the principal of and interest thereon to the date of maturity or earlier redemption; provided, however, that if any of the Certificates are to be redeemed prior to their respective dates of maturity, provision shall have been made for giving notice of redemption as provided in this Ordinance. Upon such deposit, such Certificates shall no longer be regarded to be Outstanding or unpaid. Any surplus amounts not required to accomplish such defeasance shall be returned to the City. 27 70433173_1 Section 9.2: Ordinance a Contract - Amendments. This Ordinance shall constitute a contract with the Registered Owners from time to time, be binding on the City, and shall not be amended or repealed by the City so long as any Certificate remains Outstanding except as permitted in this Section. The City may, without the consent of or notice to any Registered Owners, from time to time and at any time, amend this Ordinance in any manner not detrimental to the interests of the Registered Owners, including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In addition, the City may, with the consent of Registered Owners who own in the aggregate 51% of the principal amount of the Certificates then Outstanding, amend, add to, or rescind any of the provisions of this Ordinance; provided that, without the consent of all Registered Owners of Outstanding Certificates, no such amendment, addition, or rescission shall (i) extend the time or times of payment of the principal of and interest on the Certificates, reduce the principal amount thereof, the redemption price, or the rate of interest thereon, or in any other way modify the terms of payment of the principal of or interest on the Certificates, (ii) give any preference to any Certificate over any other Certificate, or (iii) reduce the aggregate principal amount of Certificates required to be held by Registered Owners for consent to any such amendment, addition, or rescission. Section 9.3: Legal Holidays. In any case where the date interest accrues and becomes payable on the Certificates or principal of the Certificates matures or the date fixed for redemption of any Certificates or a Record Date shall be in the City a Saturday, Sunday, legal holiday or a day on which banking institutions are authorized by law to close, then payment of interest or principal need not be made on such date, or the Record Date shall not occur on such date, but payment may be made or the Record Date shall occur on the next succeeding day which is not in the City a Saturday, Sunday, legal holiday or a day on which banking institutions are authorized by law to close with the same force and effect as if (i) made on the date of maturity or the date fixed for redemption and no interest shall accrue for the period from the date of maturity or redemption to the date of actual payment or (ii) the Record Date had occurred on the fifteenth day of that calendar month. Section 9.4: No Recourse Against City Officials. No recourse shall be had for the payment of principal of or interest on any Certificates or for any claim based thereon or on this Ordinance against any official of the City or any person executing any Certificates. Section 9.5: Further Proceedings. The Mayor, Mayor Pro-Tem, City Secretary and other appropriate officials of the City are hereby authorized and directed to do any and all things necessary and/or convenient to carry out the terms of this Ordinance. Section 9.6: Severability. If any Section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such Section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. Section 9.7: Open Meeting. It is hereby found, determined and declared that a sufficient written notice of the date, hour, place and subject of the meeting of the City Council at which this Ordinance was adopted was posted at a place convenient and readily accessible at all times to the general public at City Hall for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code, and that this 70433173_l meeting has been open to the public as required by law at all times during which this Ordinance and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 9.8: Repealer. All orders, resolutions and ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent of such inconsistency. Section 9.9: Effective Date. This Ordinance shall be in force and effect from and after its passage on the date shown below. 70433173_1 PASSED AND APPROVED on first reading this October 19, 20154 CITY OF SANGER, TEXAS Mayor ATTEST City Secretary (SEAL) Exhibit A -Paying Agent/Registrar Agreement Exhibit B - Preliminary Official Statement Exhibit C - Purchase Agreement Exhibit D - Description of Annual Financial Information S-1 70433173_1 EXHIBIT A PAYING AGENT/REGISTRAR AGREEMENT See Tab No. 8 70433173_1 ExxisiT B PRELIMINARY OFFICIAL STATEMENT See Tab No. 6 70433173_1 EXHIBIT C PURCHASE AGREEMENT See Tab No. 5 70433173_1 EXHIBIT D DESCRIPTION OF ANNUAL FINANCIAL INFORMATION The following info mation is referred in Article VIII of this Ordinance. Annual Financial Statements and Operating Data The financial information and operating data with respect to the City to be provided annually in accordance with such Article are as specified (and included in the Appendix or under the headings of the Official Statement referred to) below: (1) The financial statements of the City, portions of which are appended to the Official Statement as Appendix D, but for the most recently concluded fiscal year. (2) The information included under Tables 1 through 10, inclusive of Appendix A of the Official Statement. Accounting Principles The accounting principles referred to in such Article are generally those described in Appendix D to the Official Statement as such principles may be changed from time to time to comply with state law or regulation. 70433173_1 CERTIFICATE FOR ORDINANCE THE STATE OF TEXAS § COUNTIES OF DENTON § CITY OF SANGER § We, the undersigned officers of the City of Sanger, Texas (the "City"), hereby certify as follows: 1. The City Council of the City convened in a regular meeting on October 19, 2015, at the regular meeting place thereof, within the City, and the roll was called of the duly constituted officers and members of the City Council, to wit: Thomas Muir Russell Martin Gary Bilyeu William Boutwell Allen Chicle David Clark Mayor Mayor Pro Tern Councilman Councilman Councilman Councilman and all of such persons were present except ,thus constituting quorum. Whereupon, among other business, the following was transacted at said meeting: written AN ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF BANGER, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2015; PRESCRIBING THE TERMS AND FORM THEREOF; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL THEREOF AND INTEREST THEREON; AWARDING THE SALE THEREOF; AUTHORIZING THE PREPARATION AND DISTRIBUTION OF AN OFFICIAL STATEMENT TO BE USED IN CONNECTION WITH THE SALE OF THE CERTIFICATES; MAKING OTHER PROVISIONS REGARDING SUCH CERTIFICATES, INCLUDING USE OF THE PROCEEDS THEREOF, AND MATTERS INCIDENT THERETO; AND DECLARING AN EMERGENCY 0 0 (the "Ordinance") was duly introduced for the consideration of the City Council and read in full. It was then duly moved and seconded that the Ordinance be adopted on first reading; and, after due discussion, such motion, carrying with it the adoption of the Ordinance, prevailed and carried by the following vote: AYES: NAYS: ABSTENTIONS: 2. That a true, full and correct copy of the Ordinance adopted at the meeting described in the above and foregoing paragraph is attached to and follows this certificate; that the 70433173_1 Ordinance has been duly recorded in the City Council's minutes of such meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the City Council's minutes of such meeting pertaining to the adoption of the Ordinance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the City Council as indicated therein; that each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the date, hour, place and subject of the aforesaid meeting, and that the Ordinance would be introduced and considered for adoption at such meeting, and each of such officers and members consented, in advance, to the holding of such meeting for such purpose; that such meeting was open to the public as required by law; and that public notice of the date, hour, place and subject of such meeting was given as required by the Open Meetings Law, Chapter 551, Texas Government Code, SIGNED AND SEALED this October 19, 2015. Tami Taber, City Secretary CITY OF SANGER, TEXAS (SEAL) Thomas Muir, Mayor CITY OF SANGER, TEXAS 70433173_1 Resolution #11104245 Whereas UP G Clear Creek Partners, LLC has proposed a development for affordable rental housing in the City of Sanger; and Whereas, there is a need for affordable housing for the City of Sanger's citizens of modest means; and Whereas, OPG Clear Creek Partners, LLC intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for 2016 Low Income Housing Tax Credit Program funds for The Reserves at Clear Creek. Whereas, there is a requirement for a de minimis commitment of development funding by the Local Political Subdivision. Whereas, the City of Sanger supports construction at the site indicated by the developer at the October 19, 2015, City Council Work Session. Be it resolved that: This resolution affirms the City of Sanger's support for the above named development; and Confirms the City of Sanger will provide a loan, grant, reduced fee or contribution of other value for the benefit of the development in the amount of $10. Resolved on the day of October 2015. Tami Taber, City Secretary Thomas Muir, Mayor r+ T (D rt =- O CD o rD aq rD rD rt �+ r0+ v rt O C d (D (D (D s rr; r�r -Q O' < (D < fD y, Ut W (D (D N (D + rD p (D (D m N x n n �^ < X N QO R0 (D X (D (�'� W II. (�D 7 7 < (D (D ft r+ O r+ N h LA 0 ' (D O0 -Cs O rr mo W O X O a! rr (D T L v (D (D v N aS (D O =+; O O.. O O (n O 1-1 LA D 0 (D LA Ul `lDy' X Q001 ,< 0 ON O o Ul O'rt rr a ° s Q m zr c (D 00 � r+ (D F-� cD A In O) N F" IP J O. LA N. 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IF OPA IF ME ^' (( IF{ W I Wl 111 IF It I _IM i E j lotME EM ME `C p It ` -p 00 O O O( N i V W F l to Ln f WM1,FkAp,I .p i ,� FEEL t €TF j 4 S MILL1.9,9I LIMIT FIT,I .. ,_. dr r LT IF LF j W f 11 1 ' 00QE tD O t--��0 N O O j N N 1 N Np E_ TiIF E Mr_ - _ - - = -- L E�� t i I jj t E I j W W I i i K� MMj W} f:V ( 0 Wf_ CSC; �_t cU; p `COco }! �! f {� .N QJ N w w O 1p i O N t t-1 con) i co ---_ f! t � ipi jj{ 3 _ i tJ 1 k : j ai r j I N OE O; Ot { � IOWA 00 1{ i 1 w I N ? co crt ( O ' O N 00 00Lon 512 I 1 !i N 00 O W .p I—i -P In lr1 € uj N 't a , } s , O . a 00 V W W Vi � W N ; s ' Adh Chris Felan Vice President Rates & Reoulatory Affairs September 25, 2015 City Official Re: Rider GCR -Rate Filing under Docket No. 10170 Enclosed is Atmos Energy Corp., Mid -Tex Division's Statement of Rider GCR applicable for the October 2015 billing periods. This Statement details the gas cost component of the residential, commercial, and industrial sales rates for customers within your city. This filing is for informative purposes only and no action is required on your city's part. Should you have any questions, please let me know. Sincerely, Attachment Atmos Energy Corporation 5420 LBJ Freeway, Suite 1862 Dallas, TX 75240 P 214-303-9106 F 214-206-2126 Christopher.Felan@atmosenergy.com 0 > CO W oO Z Z z O..Owu)¢E- �f5CC) w O � N O U Ulu O C}7 x0 aU0 W W v z W zo�0o� wow w-j O Q Q= W U ¢ per_ C� m m m m c ,0 0 0 a m O) 0 0) 00 (0 (.0 O (0 (0 (1) P� O 69 (0 M 64 M O O (M O M U) Co •C O O L (� r M O 00 O W p WT O N' N' N' (IF; to N 'd; N CL t0 O (0 (0 (fl r O M M O '- U) to N 64 64 N N' V)- ffl 69 64 O N N 64 61) c I- N a) iu iu m a> � � U U U V U U U U o tO O t0 N O N M O (M O M ,p.) � rt a rt 00 00 u M V O � 00 E N' tx tfj c 06 Id N (0 t0 m 0 O N N 0) O O O O V a U M^ 6 64 6 V fA 69 64 a`) M CL U 0 iu `o U cu N LL N m o U U U (� ns n��n NON (~0 O O O O C N O O 00 OO N M N O N 00 0 N' N' � � p) h N M LO N (0 t!) tl) 60 6c? Nam.' 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U U O— x ° N— p LU E E E � ,E ro E E 0 X� w aa� aai U a W Ewa C) En .� .N o o n o us a m c0 x x a) o a) o �l W w w � w f-m W w � F- ¢ (7 a LE LL to md z U to .G z 1- N N � O a) C C J _1 O LL J o L- `O o U LL 0 0 LN U a) ti o 0 a 0 U � o C7 U .. QCa w a (D w 0 0 U w C O C N M N' t0 (0 I� M _i N N N N N NOTICE OF RATE CHANGE REQUEST On October 1, 2015 CenterPoint Energy Houston Electric L.U. ( CenterPoint Energy") filed its Application for Interim Update of Wholesale Transmission Rates pursuant to 16 Tex. Admin. Code § 25.192(h). CenterPoint Energy's Application seeks an interim adjustment to the previously approved transmission cost of service and wholesale transmission rate due to transmission investment in excess of the level currently authorized in rates. If approved, the total rate base interim increase will be $107,609,605, with a total revenue requirement interim increase of $16,790,138 and an interim wholesale transmission rate of $5,005.83 per MW. The proposed interim revenue requirement increase represents an approximate 5.6% increase in CenterPoint Energy's wholesale transmission revenue requirement. CenterPoint Energy has requested an effective date for the interim wholesale transmission rate of November 5, 2015. Because the Application requests a revision to CenterPoint Energy's wholesale transmission rate to reflect changes in its invested capital, affected customers include all distribution service providers who pay wholesale transmission charges pursuant to the Substantive Rules of the Public Utility Commission of Texas. A complete copy of CenterPoint Energy's Application is available for inspection at 1111 Louisiana, Houston Texas, 77002. Persons who wish to intervene in or comment upon these proceedings should notify the Public Utility Commission of Texas as soon as possible, as an intervention deadline will be imposed. A request to intervene or request for further information should be made to the Public Utility Commission of Texas, P.O. Box 13326, Austin, Texas 78711-3326 and reference Docket No. 45214. Further information may also be obtained by calling the Public Utility Commission of Texas at (512) 936-7120 or (888) 7824477. Hearing -and -speech -impaired individuals with text telephones (TTY) may contact the commission at (512) 936-7136. CenterPoint Energy has requested an intervention deadline of 21 days after the filing of the application. If CenterPoint Energy's request is granted, the intervention deadline will be October 22, 2015. CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC Resolution #11104245 Whereas OPG Clear Creek Partners, LLC has proposed a development for affordable rental housing in the City of Sanger; and Whereas, there is a need for affordable housing for the City of Sanger's citizens of modest means; and Whereas, OPG Clear Creek Partners, LLC intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for 2016 Low Income Housing Tax Credit Program funds for The Reserves at Clear Creek. Whereas, there is a requirement for a de minimis commitment of development funding by the Local Political Subdivision. Whereas, the City of Sanger supports construction at the site indicated by the developer at the October 19, 2015, City Council Work Session. Be it resolved that: This resolution affirms the City of Sanger's support for the above named development; and Confirms the City of Sanger will provide a loan, grant, reduced fee or contribution of other value for the benefit of the development in the amount of $10. Resolved on the day of October 2015. Tami Taber, City Secretary Thomas Muir, Mayor