HomeMy WebLinkAboutOrdinance 14686ORDINANCE 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 2001A, 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 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 renmbursement 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 nntention, 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 rt issues the hereinafter described Certificates of Obligation, and
WHEREAS, rt is hereby officially found and deternuned that the meeting at which this
Ordinance was considered was open to the public, and public notice of the tame, 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" ns 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 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 wrtlin 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 rt is accordingly so
ordained.
PASSED AND APPROVED this the 10th day of July, 2001
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Mayor, Crty of Fort Worth, Texas
Fort Worth, Tex
APPROVED AS TO FORM.
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Crty Attorney, Crty of
Fort Worth, Texas
(SEAL)
EXHIBIT A
NOTICE OF INTENTION TO
ISSUE CERTIFiCATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that rt is the intention of the City Council of the City of Fort
Worth, Texas, to issue one or more serves 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 Crty, to-wit, the construction
of improvements to and the equipping of the Fort Worth Convention Center, located at 1111
Houston Street, m the Crty of Fort Worth, Texas, and the payment of fiscal, engineering and legal
fees incurred in connection therewith. The Crty Council tentatively proposes to authorize the
issuance of said serves (one or more) of Certificates of Obligation at its regular meeting place in the
Crty Hall at a meeting to commence at 10 o'clock, a.m., on the 31st day of July, 2001 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 Crty Council presently proposes to provide for
payment of said serves (one or more) of Certificates of Obligation from the levy of taxes and from
revenues derived from (i) the levy and collection of a portion of the City's hotel occupancy tax and
(ii) an agreement entered into by the Crty 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/ Kenneth Barr
Mayor
THE STATE OF TEXAS
COUNTIES OF TARRANT AND DENTON
CITY OF FORT WORTH
I, Glona Pearson, 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 rrunutes of the regular,
open, public meeting of the City Council of the City of Fort Worth, Texas held on July 10, 2001, and
of Ordinance No ~ ~~ g~
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 held in accordance with the provisions ofChapter
551, Texas Government Code In testimony whereof, I have set my hand and have hereunto affixed
the seal of said City of Fort Worth, this 10th day of July, 2001
Crty Secret of the
City of Fort Worth, Texas
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