05-05-09-Resolution-Notice of Intent Bonds 3.2M Land Acquisition City Park-05/18/2009RESOLUTION R 05-05-09
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION IN A PRINCIl'AL AMOUNT
NOT TO EXCEED $3,200,000, AND AUTHORIZING CERTAIN OTHER
MATTERS RELATING THERETO
STATE OF TEXAS §
COUNTIES OF DENTON
CITY OF BANGER §
WI REAS, the City Council (the "City Council") of the City of Sanger, Texas (the
"City"), is authorized to issue certificates of obligation to pay contractual obligations to be
incurred for the acquisition of land located at 1801 S. Stemmons Freeway for a city park,
construction of athletic fields on such city park, and for water, sewer, drainage and street
improvements, and for the payment of contractual obligations for professional services pursuant
to Subchapter C of Chapter 271, Texas Local Government Code, as amended;
WI-lEREAS, the City Council has determined that it is in the best interests of the City and
otherwise desirable to issue certificates of obligation in a principal amount not to exceed
$3,200,000 styled "City of Sanger, Texas Certificates of Obligation, Series 2009" (the
"Certificates");
WHEREAS, in connection with the Certificates, the City Council intends to publish
notice of intent to issue the Certificates (the "Notice") in a newspaper of general circulation in
the City; and
WI -AREAS, the City Council has been presented with and has examined the proposed
form of Notice and finds that the form and substance thereof are satisfactory, and that the recitals
and findings contained therein are true, correct and complete.
BE IT THEREFORE RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BANGER, TEXAS:
Section 1. Preamble. The facts and recitations contained in the preamble of this
Resolution are hereby found and declared to be true and correct.
Section 2. Authorization of Notice. The City Secretary is hereby authorized and
directed to execute and deliver the Notice set forth in Exhibit A hereto and to publish such
Notice on behalf of the City once a week for two (2) consecutive weeks in a newspaper which is
of general circulation in the City, the date of the first publication to be before the 30th day before
the date tentatively set for the passage of the ordinance authorizing the issuance of the
Certificates.
Section 3. Engagement of Professionals. This City Council hereby approves the
engagement of Andrews Kurth LLP, as bond counsel ("Bond Counsel") in connection with the
issuance of the Certificates.
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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 Gover runent Code.
SIGNED AND SEALED this May 18, 2009.
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City Secretar ,t, ; ;g ' •.s.f, `. ,..
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CITY OF SANGER, TEXAS
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES
NOTICE IS HEREBY GIVEN that the City Council of the City of Sanger, Texas (the
"City") will meet at its regular meeting place at City Hall, Sanger, Texas at 7:00 p.m. on the 6th
day of July, 2009, which is the time and place tentatively set for the passage of an ordinance and
such other action as may be deemed necessary to authorize the issuance of the City's certificates
of obligation, payable from ad valorem taxation and a limited (in an amount not to exceed
$10,000) subordinate pledge of certain revenues of the water and sewer system of the City, in the
maximlun aggregate principal amount of $3,200,000, bearing interest at any rate or rates not to
exceed the maximum interest rate now or hereafter authorized by law, as shall be determined
within the discretion of the City Council at the time of issuance and maturing over a period of
years not to exceed forty (40) years from the date thereof, for the purpose of evidencing the
indebtedness of the City to pay all or any part of the contractual obligations to be incurred for the
acquisition of land located at 1801 S. Steminons Freeway for a city park, construction of athletic
fields on such city park, and for water, sewer, drainage and street improvements and for the
payment of contractual obligations for professional services.
City Secretary
City of Sanger, Texas
HOU:2916354.1
CERTICICATE FOR RESOLUTION
THE STATE OF TEXAS §
COUNTY OF DENTON §
CITY OF SANGER §
We, the undersigned officers of the City of Sanger, Texas (the "City"), hereby certify as
follows:
l . The City Council of the City convened in a regular meeting on May 1 �, 2009, 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;
Joe Higgs
Glenn Ervin
Andy Garza
Thomas Muir
Robert Patton
Russell Martin
Mayox
Mayor Pro Tem
Alderman
Alderman
Alderman
Alderman
and all of such persons were present, except ,thus constituting a quorum.
Whereupon, among other business, the following was transacted at said meeting: a written
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION IN A PRINCIPAL AMOUNT
NOT TO EXCEED $3,200,000, AND AUTHORIZING CERTAIN OTHER
MATTERS RELATING THERETO
(the "Resolution") was duly introduced for the consideration of the City Council and read in full.
It was then duly moved and seconded that such Resolution be adopted; and, after due discussion,
the motion, carrying with it the adoption of the Resolution, prevailed and carried by the
following vote:
AYES: — NAYS: _ ABSTENTIONS:
2. That a true, full and correct copy of the Resolution adopted at the meeting described
in the above and foregoing paragraph is attached to and follows this certificate; that the
Resolution 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 Resolution; 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 Resolution 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
HOU:2916354.1
Section 4. Authorization of Other Matters Relating_ Thereto. The Mayor, City
Secretary and other officers and agents of the City are hereby authorized and directed to do any
and all things necessary or desirable to carry out the provisions of this Resolution.
Section 5. Effective Date. This Resolution shall take effect immediately upon
passage.
Section 6. Public Meeting. It is officially found, determined and declared that the
meeting at which this Resolution is adopted was open to the public and public notice of the time,
place and subject matter of the public business to be considered at such meeting, including this
Resolution, was given all as required by the Texas Govermnent Code, Chapter 551, as amended,
[Remainder• of Page Intentionally Left Blank]
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HOU:2916354.1
PASSED AND APPROVED this 18th da.y of May, 2009.
ATTEST:
City Se
City of
of Sanger, Texas
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