HomeMy WebLinkAboutOrdinance 8103.~ _ J- +:
ORDINANCE NO _~~
BY THE CITY COUNCIL OF THE CITY OF
DIRECTING PUBLICATION OF NOTICE OF
ISSUE TAX AND REVENUE CERTIFICATES
ORDAINING OTHER MATTERS RELATING Z'O
AND DECLARING AN EMERGENCY
FORT WORTH, TEXAS
INTENTION TO
OF OBLIGATION
THE SUBJECT
WHEREAS it is hereby officially found and determined
that a ease 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 neces-
sity being the publication of Notice of Intention to Issue
Certificates of Obligation to provide funds for the construc-
tion of a public parking garage 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
i 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 Manager shall cause said
notice to be published in substantially the form attached
hereto in the Commercial Recorder a newspaper of general
circulation in the City of Fort Worth Texas for two consec-
utive weeks the date of the first publication to be June
4 1980 which date is at least fourteen (14) days prior to
the day tentatively proposed for authorizing the issuance of
the Certificates of Obligation as shown in said notice
This ordinance shall be considered an affirmative
official action for the issuance of the above described
Certificates of Obligation in accordance with the purpose of
the Certificates of Obligation Act and Section 1 103-8 (a)
(5) of the Income Tax regulations of the United States
PASSED the 3rd day of June, 1980
Mayor City of Fort Worth- Texas
ATTEST
City Secretary City of Fort
W th, Texas
APPROV AS 0 F AND L
~ F~ ~ R~ EGALITY
ty Attd ey,/City of-For
rth Te as
~7' *~ z .
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E1`~3IBIT "A"
NOTICE OF INTENT TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS E~.REBY 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 en-
titled "City of Fort worth Texas Tax and Revenue Cert~fi-
cates of Obligation Series 1980 for the purpose of pro-
viding apart of the funds for the construction of a public
parking garage (the same being the pedestrian plaza and
parking garage referred to .n the Fort worth Clty Council
Resolution adopted July 17 1979 and being a structure
parking area and facility located in the immediate vicinity
of the Tarrant County Convention Center and to be used in
connection with such Convention Center for public off-street
parking or storage of motor vehicles) 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 ~ ^ ^' ^~ ~^'~- 9 30
A M on the 24th day of June 1980 The maximum amount of
Certificates of Obligation Indebtedness that may be authorized
for such purpose is~ $ 2 000 000 The City Council presently
proposes to provide for payment of such Certificates of
Obligation by the levy of taxes and from revenues
l/ r
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DATE REFERENCE
NUMBER SUBJECT Consideration of Giving Notice O PAGE
6/03/80
G-571 Intenti~ to Issue Certificates of Obli-
lof 1
gction to Provide Funds for Completion o
Parking Garage and Plaza
Under the Certificates of Obligation Act it is encumbent upon the city to
publish notice of the City's intent to issue such certificates for a period
of two weeks prior to any issuances of such evidence of indebtedness
Council will recall that such notice was previously given on March 11 1980
(Ordinance No 8065)
The necessity for such an iss uance persists and market conditions have improved
warrgnting a reconsideration of the City Council giving notice+of in-
tention to issue Certificates of Obligation to provide funds..for the con-
struction of a public parking garage and plaza The issuance of these certi-
ficates of gbligation will complete financing of the UDAG parking garage and
public plaza consistent with Council action taken on March 13, 1980 (M&C
G-5014)
Recommendation
The adoption of the attached ordinance accomplishing the foregoing objective
is recommended
DAI j c
'pPPROV
UNCIL
C1TY CO
C3. eczetary f the
of Fort Worth, Tex4>~
G
SUBMITTED FOR T
CITY MANAGER'S ~l
OFFICE BY: y~
DISPOSITION BY COUNCIL:
PROCESSED BY
,
^ APPROVED
ORIGINATING
DEPARTMENT HEAD: D3vld IVOry
AnnR~lr'~ ^ OTHER (DESCRIBE)
~~~s~R~~~~~ ~
CITY SECRETARY
CONTACTTIONAL INFOR~~~~t~ Ivory Ext 6123
DATE