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HomeMy WebLinkAboutOrdinance 10929• • ORDINANCE NO. O~ DIRECTING PUBLICATION OF NOTICE OF INTENT TO ISSUE TAX AND REVENUE CERTIFICATES OF OBLIGATION; AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT WHEREAS, it is hereby officially found and determined that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or urgent public necessity being that the publication of Notice of Intention to Issue Certificates of Obligation to provide funds for the improvements described in the Notice referred to below is required as soon as possible and without delay; and that said meeting was open to the public, and public notice of the time, place and purpose of said meeting was given, all as required by Vernon's Ann. Civ. St. Art. 6252-17, as amended. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1. That attached hereto and marked "Exhibit A" is a form of notice, the form and substance of which are hereby passed and approved. Section 2. That the City Secretary shall cause said notice to be published, in substantially the form attached hereto, in the "Fort Worth Star-Telegram", a newspaper of general circulation in the City of Fort Worth, Texas, for two consecutive weeks, the date o.f the first publication to be before the fourteenth (14th) day before the date tentatively proposed for authorizing the issuance of the Certificates of Obligation as shown in said notice. PASSED the 8th day of October, 1991. ~, ~~ ~ ~~ ~~~~ ~. ~ ~~ ~ "~ ~ ~~ "' `ATTEST : ~~ r v' ~ sY ;~. /~~ r ~ ~ -,.~ _~ ;,~ '. ity~S~cr~tar-y ~~' City of ;~:For't Worth, Texas Mayor, C ty of Fort Worth, Texas APPROVED AS TO FORM AND LEGALITY: City Attorney City of Fort Worth, Texas r X11 ~E ~r s~c~Erw~r • • EXHIBIT A NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Fort Worth, Texas, to issue the interest bearing certificates of obligation of the City entitled "City of Fort Worth, Texas Combination Tax and Revenue Certificates of Obligation, Series 1991", for the purpose of providing funds for the construction of a City central dispatch facility, the acquisition of equipment, including, but not limited to, a city- wide two-way radio communications system, related to the operation of said dispatch facility, and the payment of the engineering, legal, and fiscal costs related thereto. The City Council tentatively proposes to authorize the issuance of said Certificates of Obligation at its regular meeting place in the City Hall at a regular meeting to commence at 10:00 A.M. on November 12, 1991. The maximum amount of Certificates of Obligation indebtedness that may be authorized for such purpose is $13,500,000. The City Council presently proposes to provide for payment of such Certificates of Obligation by the levy of ad valorem taxes and from revenues. l~r~" ~~C~~ 1 SECREj~RY I ~ FT. VIOL ~~'.. ~.,. • • I, the undersigned, City Secretary of the City of Fort Worth, in the State of Texas, do hereby certify that I have compared the attached and foregoing excerpt from the minutes of the regular meeting of the City Council of the City of Fort Worth, Texas which was held on October 8, 1991, and of an ordinance which was duly passed at said meeting, and that said copy is a true and correct copy of said excerpt and the whole of said ordinance. Said meeting was open to the public, and public notice of the time, place and purpose of said meeting was given, all in accordance. with Vernon's Annotated Civil Statutes, Article 6252-17, as amended. In testimony whereof, I have set my hand and have hereunto affixed the seal of said City of Fort Worth, this 8th day of October, 1991. _~- 0~~~~ City Secretary of the City of ~. Fort Worth, Texas .~" ~-~- ,' ~'-SEAL) ~ ^~ . ., -~ ~, .. w /a r M ~,: ~. ~`f~ ~ ~ REC41~ p1~ SECR€T~RY .uAS reR cILE 1 A~~o~NTI~~ ~ city of For~~~~ worth, Texas i RANSFORTATION~PU](1~i~~ ~~ '~~~I I~'~ '~~.~\~III~~~~ • `~`~/En A~., ~,;INI$7RA"7ibN i1N 4Nrf /ra r /~ -DATE REFEREN E NUMBER L NAME PA E 10/08/91 G-9335 1306LIG 1 of 1 SUBJECT ORDINANCE APPROVING AND AUTHORIZING GIVING NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATIONS RECOMMENDATION: It is recommended that the City Council adopt the attached ordinance approving and authorizing the giving of notice of intention to issue $13.5 million City of Fort Worth Combination Tax and Revenue Certificates of Obligation, Series 1991. DISCUSSION: On September 20, 1988, the City Council authorized the Communication Division to submit to Region 40 for the last forty (40) 800 MHz channels available in the region in arder to replace the current outdated two-way radio communication system. On February 19, 1991, Informal Report No. 7512 was presented to the City Council providing background information on the new system, the problems experienced with the current system, how the new system would function, what parts of the current system could be used in the new system and other general information. On October 1, 1991, Informal Report No. 7554 was presented to the City Council for final approval of the concept. At this same session, staff reviewed with the Council various alternatives to financing $11.2 million for the communication equipment and $1.3 million for facilities to house the equipment. The staff and the City's financial advisor recommended that certificates of obligation be issued by the City to provide funds for both requirements. The publication of a "notice of intention to issue" is the next step in this process. On November 12, 1991 competitive bids will be taken and the Council will be requested to award the sale of the certificates of obligation on the basis of the most attractive interest rate. cB:t ~F~ RECQAD ~1' SECRETARY FT. WORTR, Tp~, Su tte or C ty Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by to CITY COUNCIL Charles Boswell 8500 ' ~ Originat ng Depart~ent Nea • ;lr~~nance ~ ,dnnfier, o.,~ ~~~ ~ 1991 Judson Bailiff 8185 rom For Ad itional Inforoation ~, Contact: Judson Bai 1 i ff 8185 City Secretary of the G~ ?eaat Printed on recycled paper ..~,"