HomeMy WebLinkAboutOrdinance 16501-07-2005ORDINANCE NO ~~ 1 O / ~~
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
AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT
WHEREAS the City of Fort Worth expects to pay expenditures nn connection with the
design, planning, acquisition and construction ofthe projects described nn Exhibit Ato this Ordinance
pnor to the issuance of the Certnficates of Obligation herennafter described, and
WHEREAS the Cnty Council hereby finds, consnders and declares that the reimbursement of
the payment by the City of such expenditures will be appropriate and consnstent with the lawful
ob~ectnves ofthe City and, as such, chooses to declare rats intention, in accordance wrath the provnsions
of Section 1 150-2 of the U S Treasury Regulations, to reimburse itself for such payments at such
time as it issues the herennafter described Certnficates of Obligation, and
WHEREAS rat is hereby officnally found and determnned that the meetnng at wliich tlis
Ordinance was considered was open to the public, and pubinc notice of the tame, place and purpose
of said meetnng was graven, 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 notnce, the form and
substance of which are hereby passed and approved.
Section 2 That the City Manager shall cause sand notnce to be published, in substantially the
form attached hereto nn a newspaper of general cnrculatnon nn the City of Fort Worth, Texas, for two
consecutnve weeks, the date of the first publication to be before the fourteenth day before the day
tentatively proposed for authorizing the nssuance of the Certnficates of Obligation as shown in said
notnce
Section 3 That the facilnties and improvements to be financed wrath proceeds from the
proposed Certnficates of Obligation are to be used for the purposes described nn the attached Notice
of Intention.
Sectnon 4 That all costs to be reimbursed pursuant to thus Ordinance wall be capital
expenditures the proposed Certificates of Obligation shall be nssued withnn 18 months of the later of
(i) the date the expenditures are paid or (ii) the date on which the property wrath respect to which
such expenditures were made is placed in service and the foregoing notwithstanding, the Certificates
of Obligation will not be nssued pursuant to this Ordinance on a date that ns more than three years
after the date any expendnture whnch is to be reimbursed is paid.
5 That this Ordinance shall be effective immediately from and after rts passage m accordance
with the provtsions of Section 2 of Chapter 25 of the Charter of the City and rt is accordingly so
ordained.
PASSED AND APPROVED this the 5th day of July 2005
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APPROVED AS TO FORM.
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City Attorney Czty of
Fort Worth, Texas r
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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 one or more series of the interest bearing certificates of obhgatzon 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 construction
of improvements to the Fort Worth Water Gardens, located m the vicinity of the Fort Worth
Convention Center the construction of streets and other improvements located within and outside
the City of Fort Worth, in connection with the use by the City of the Southeast landfill owned by the
City located at 699 Dick Price Road, the construction and equipping of the Evans Rosedale
Redevelopment Project, including, without limitation, the acquisition of land, the construction of
buildings and the acquisition of equipment for such buildings, to be located in the vicinity of the
intersection of Evans Avenue and Verbena Street for use as a library and public health department
offices, the construction and equipping of libraries throughout the City and the payment of fiscal,
engineering and legal fees incurred in connection therewith. The City Council tentatively proposes
to authorize the issuance of said serves (one or more) of Certificates of Obligation at its regular
meeting place in the City Hall at a meeting to commence at 10 o clock, a.m. on the 26th day of July
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 $16 000 000 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 lirruted pledge of surplus revenues (not to exceed $1 000) derived
from the operation of the City's mumcipal mater and sewer system.
CITY OF FORT WORTH, TEXAS
/s/ Mike Moncrief
Mayor
THE STATE OF TEXAS
COUNTIES OF TARR.ANT AND DENTON
CITY OF FORT WORTH
I, Marty Hendrix, 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
open, public meeting of the City Council of the City of Fort Worth, Texas held on July 5 2005 and
of the ordinance authorizing 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 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, as amended.
In testimony whereof, I have set my hand and have hereunto affixed the seal of said City of
Fort Worth, this 5th day of July 2005
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ity Secretary of the
City of Fort Worth, Texas
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THE STATE OF TEXAS
COUNTIES OF TARRANT AND DENTON
CITY OF FORT WORTH
On the 5th day of July 2005 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 with the following
members present, to-wrt
Mike Moncnef,
Salvador Espino
Chuck Silcox,
Becky Haslan,
Donavan Wheatfall,
Jungus Jordan,
Carter Burdette,
Kathleen Hicks,
Wendy Davis,
Charles Boswell,
David Yett,
Marty Hendrix,
James R. Keyes,
Mayor
Councilmembers,
Crty Manager
City Attorney
Crty Secretary
Director of Finance
thus constituting mare than a quorum present, and after the Crty Council had transacted certain
business, .the following business was transacted, to-wrt
Councilmember ~-h introduced an ordinance and moved its passage The motion was
seconded by Councilmember ~s,r~~ ~ The ®rdmance was read by the City Secretary The motion,
carrying with rt the passage of the ordinance prevailed by a vote of~YEAS,Q NAYS The ordinance
as passed is as follows