HomeMy WebLinkAboutOrdinance 20806-07-2013 THE STATE OF TEXAS
COUNTIES OF TARRANT, DENTON, PARKER,
WISE AND JOHNSON
CITY OF FORT WORTH
On the 16th day of July, 2013, the City Council of the City of Fort Worth, Texas, met in
regular, open, public meeting in the City Council Chamber in the City Hall, and roll was called
of the duty constituted members of the City Council, to-wit:
Betsy Price, Mayor
Salvador Espino,
W.B. "Zim" Zimmerman
Danny Scarth,
Gyna M. Bivens,
Jungus Jordan, Councilmembers,
Dennis Shingleton,
Kelly Allen Gray,
Joel Bums,
Tom Higgins, City Manager,
Sarah J. Fullenwider, City Attorney,
Mary J. Kayser, City Secretary,
Susan Alanis, Interim Chief Financial Officer
thus constituting a quorum present; and after the City Council had transacted certain business,
the following business was transacted, to-wit:
Councilmember introduced an ordinance and moved its passage. The
motion was seconded by Councilmember ill b . The Ordinance was read by the City
Secretary. The motion, carrying with it the passage of the ordinance prevailed by a vote of
YEAS, NAYS. The ordinance as passed is as follows:
ORDINANCENO"-_�L013
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION;
AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT
WHEREAS, the City of Fort Worth expects to pay expenditures in connection with the
design, planning, acquisition and construction of the projects described in Exhibit A to this
Ordinance prior to the issuance of the Certificates of Obligation hereinafter described; and
WHEREAS, the City Council hereby finds, considers and declares that the
reimbursement of the payment by the City of such expenditures will be appropriate and
consistent with the lawful objectives of the City and, as such, chooses to declare its intention, in
accordance with the provisions of Section 1.150-2 of the U.S. Treasury Regulations, to
reimburse itself for such payments at such time as it issues the hereinafter described Certificates
of Obligation; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Ordinance was considered was open to the public, and public notice of the time, place and
purpose of said meeting was given, all as required by Chapter 551, Texas Government Code.
NOW, THEREFORE, 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 Manager shall cause said notice to be published, in substantially
the form attached hereto, in a newspaper of general circulation in the City of Fort Worth, Texas,
for two consecutive weeks, the date of the first publication to be before the thirtieth (30th) day
before the day tentatively proposed for authorizing the issuance of the Certificates of Obligation
as shown in said notice.
Section 3. That the facilities and improvements to be financed with proceeds from the
proposed Certificates of Obligation are to be used for the purposes described in the attached
Notice of Intention.
Section 4. That all costs to be reimbursed pursuant to this Ordinance will be capital
expenditures; the proposed Certificates of Obligation shall be issued within 18 months of the
later of(i) the date the expenditures are paid or (ii) the date on which the property, with respect
to which such expenditures were made, is placed in service; and the foregoing notwithstanding,
the Certificates of Obligation will not be issued pursuant to this Ordinance on a date that is more
than three years after the date any expenditure which is to be reimbursed is paid.
Section 5. That this Ordinance shall be effective immediately from and after its passage
in accordance with the provisions o[Section 2nf Chapter 25o[the Charter of the City, and dim
accordingly xoordained.
PASSED AND APPROVED this the 18db day of July, 20l3.
ATTES
Fort Worth,Texas
00 ZY
APPROVED AS TO FORM: 0000060 elf
City Attgn
Fort Worth, Texas
(SEAL)
Signature Page—Ordinance Authorizing Publication Of Notice or intent to Issue Certificates of Obligation
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE
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 one or more series of the interest bearing certificates of obligation of
the City to be entitled "City of Fort Worth, Texas Combination Tax and Revenue Certificates of
Obligation", for the purpose of paying contractual obligations to be incurred by the City, to-wit,
the design, acquisition, construction, and equipping of improvements to the Will Rogers
Memorial Center of the City of Fort Worth as an addition to the Will Rogers Memorial Center
equestrian and parking system, including the development, design, construction, equipping,
renovating and improving of Will Rogers Memorial Center, including specifically, but not by
way of limitation, livestock/equestrian/events facilities and related infrastructure and utilities; the
construction of one or more canopies and pavilions; the purchase of security systems,
landscaping, communications systems and lighting, and costs related thereto; public art
enhancements; the funding of capitalized interest during construction and for up to one years
after completion of construction; and the payment of fiscal, engineering and legal fees incurred
in connection therewith, The City Council tentatively proposes to authorize the issuance of said
series (one or more) of Certificates of Obligation at its regular meeting place in the City Hall at a
meeting to commence at 10:00 o'clock a.m., on the 20th day of August, 2013. The maximum
amount of Certificates of Obligation indebtedness that may be authorized to be sold on said date
for such purposes described above is $13,000,000. The City Council presently proposes to
provide for payment of said series (one or more) of Certificates of Obligation from the levy of ad
valorem taxes and from a pledge of surplus revenues derived from an agreement entered into by
the City under authority of Section 22.0781, Texas Transportation Code, with respect to certain
revenues generated at D/FW International Airport.
CITY OF FORT WORTH, TEXAS
/s/Betsy Price
Mayor
TDUB STATE OF IB}{A8 �
COUNTIES OFTABRANT, DENTQNPARKER AND WISE �
CITY OF FORT WORTH �
I. Mary }{nyocr. City Secretary 0f the City of Fort Worth, in the State nf Texas, d0 hereby
certify that I have compared the attached and foregoing excerpt from the minutes o[the regular,
open, public meeting Df the City Council of the City ofFort Worth, Texas held oo July lh, 20l3,
and of the ordinance authorizing the publication of notice of intention to issue Certificates of
{Jb\igo1ino, which was duly passed at said meeting, and that said copy iuu true and correct copy
of said excerpt and the whole of said on\i0000n. Said ouoctio& was open to the public, and public
notice of the time, place, and purpose nf said meeting was given, all ua required hyChapter 55l,
Texas Government Code, oaamended.
In testimony `*bcruof, l have set my hand and have hereunto affix } of said City
of Fort Worth,this day of July, 2Al3.
City of Fort Worth, Texas IFO
(SEAL)
0000000 0
XAS