HomeMy WebLinkAboutOrdinance 14917ORDINANCE NO
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 2002 AND ORDAINING OTHER MATTERS RELATING TO THE
SUBJECT
WHEREAS the Crty of Fort Worth expects to pay expenditures in connection with the
design, planning, acquisition and construction of the projects described m Exhibit A to this Ordinance
prior to the issuance of the Certificates of Obligation hereinafter described, and
WHEREAS the Crty 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 ofthe Crty 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 rt issues the hereinafter described Certificates of Obligation, and
WHEREAS rt 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, m substantially the
form attached hereto m the Fort Worth Star Telegram a newspaper of general circulation in 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 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 m 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 its passage in accordance
with the provisions of Section 2 of Chapter 25 of the Charter of the City and it is accordingly so
ordained.
PASSED AND APPROVED this the 8th day of January 2002
Mayor City of Fort Worth, Texas
ST
City Secreta Crty of
Fort Worth, Texas
APPROVED AS TO FORM.
~~~~
Crty Attorney Crty of .
Fort Worth, Texas
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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 Crty Council of the Crty of Fort
Worth, Texas, to Issue one or more series of the interest beanng certificates of obligation of the Crty
to be entitled Crty of Fort Worth, Texas Combination Tax and Revenue Certificates of Obligation
for the purpose of paying contractual obligations to be Incurred by the Crty to-wit, the acquisition
and Installation throughout the Clty ofFort Worth of a storm warning system (sirens and other related
equipment), the acquisition and installation of a communications tower for use by the City`s public
safety departments, the construction of street Improvements, to-wit improvements to Trinity
Boulevard, Basswood Boulevard, North Beach Street (Basswood to Shiver), West Rosedale, Forest
Park to Main Street, an entry roadway to the West Community Park development located near Lake
Worth at I-820 and Silver Creek Road, Improvements at N Tarrant Parkway and I 35 Interchange,
N Tarrant Parkway US 377 to Harmon Road, the Granbury/Wabash Avenue/Trail Lake/Seminary
Drive intersection, and Lancaster Avenue at I 35 and the construction of new streets and storm
drains throughout the Crty the acquisition of traffic signals, the construction of sidewalk
Improvements throughout the Crty the construction of park improvements, to-wit, the extension of
the Trinity River Trail, the costs associated with the relocation of Fire Station #8 resulting from the
West Rosedale/Forest Park to Main Street street improvements, the acquisition and construction of
aviation noise mitigation improvements at Meacham Field, the engineering costs associated with
developing Improvements to the Lancaster Avenue corridor the acquisition and construction of 9th
Street pedestrian and streetscape enhancements from Throckmorton to Jones, the acquisition and
construction of North Main Street pedestnan and bicycle improvements from Sth to 7th and North
Main to existing Tnnity Trails, the acquisition and improvement of West Bevy Village pedestrian
improvements from University to Forest Park, the acquisition and construction of the 9th Street bus
transfer facility at Library Plaza, 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 o clock, a.m. on the 29th day of January 2002 The maximum amount of
Certificates of Obligation Indebtedness that may be authorized to be sold on said date for such
purposes described above is $26 000 000 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 denved from the operation of the City's muruci_pal
water and sewer system.
CITY OF FORT WORTH, TEXAS
isl Kenneth Barr
Mayor