HomeMy WebLinkAboutOrdinance 16321-03-2005ORDINANCE NO 1 lo3a - b3- °~ b b S
BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
SERIES 2005 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 ofthe protects described m 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, m 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 Crty Manager shall cause said notice to be published, m substantially the
form attached hereto, in a newspaper of general circulation m the Crty of Fort Worth, Texas, for two
consecutive weeks, the date of the first publication to be before the fourteenth day before the day
tentatively proposed for authorizing the issuance of the Certificates of Obligation as shown m 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 m 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 wrtlun 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.
5 That this Ordinance shall be effective immediately from and after rts passage m accordance
with the provisions of Section 2 of Chapter 25 of the Charter of the City and rt is accordingly so
ordained.
PASSED AND APPROVED this the 8th day of March, 2005
ATTEST
Crty Secretary Crt f
Fort Worth, Texas
APPROVED AS TO FORM.
City Attorney Crty of
Fort Worth, Texas
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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 one or more series of the interest bearing certificates of obhgatron of the City
to be entitled 'City ofFort Worth, Texas Combination Tax and Revenue Certificates of Obligation"
for the purpose of paying contractual obligations to be incurred by the City to-wrt, the acquisition
of a building located at 1111 Monroe Street, Fort Worth, Texas (commonly known as the 'Zipper
Building") for use as a municipal building in which departments of the City will office, and the
construction of unprovements to and the acquisition of equipment for such building; 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 7 o'clock, p.m. on the Sth day
of April, 2005 The maximum amount of Certificates of Obligation indebtedness that may be
authorized to be sold on said date for such purposes described above is $8,000,000 The City
Council presently proposes to provide for payment of said senes (one or more) of Certificates of
Obligation from the levy of ad valorem taxes and from a limited pledge of surplus revenues (not to
exceed $1 000) denved from the operation of the City's municipal water and sewer system.
CITY OF FORT WORTH, TEXAS
/s1 Mike Moncrief
Mayor
THE STATE OF TEXAS
COUNTIES OF TA,RRANT AND DENTON
CITY OF FORT WORTH
I, Marty Hendnx, Crty Secretary of the City of Fort Worth, m the State of Texas, do hereby
certify that I have compared the attached and foregoing excerpt from the rrunutes of the regular
open, public meeting of the Crty Council of the Crty of Fort Worth, Texas held on March 8 2005
and of the ordinance authonzmg the publication of notice of intention to issue Certificates of
Obligation, 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 wa's 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, as amended.
In testimony whereof, I have set my hand and have hereunto afl"ixed the seal of said Crty of
Fort Worth, this 8th day of March, 2005
City Secretary f the
City of Fort Worth, Texas
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