HomeMy WebLinkAboutOrdinance 14687ORDINANCE 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 2001B, AND ORDAINING OTHER MATTERS RELATING TO THE
SUBJECT
WHEREAS, the City of Fort Worth expects to pay expenditures m connection with the
design, planning, acquisition and construction ofthe projects 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 ofthe 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, 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 City
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 Crty, and rt is accordingly so
ordained.
PASSED AND APPROVED this the 10th day of July, 2001
Mayor, City of Fort Worth, exas
AT ST
City Secretary, rty of
Fort Worth, Texas
APPROVED AS TO FORM.
l
Crty Attorney, Crty
Fort Worth, Texan
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EXHIBIT A
NOTICE OF INTENTION TO
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that rt is the intention of the Crty Council of the Crty of Fort
Worth, Texas, to issue one or more series of the interest bearing 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 City, to-wit, the construction
of street, drainage and utility improvements to the Will Rogers Memorial Center, located at 3401
West Lancaster Avenue, m the Crty of Fort Worth, Texas, and the payment of fiscal, engineering and
legal fees incurred m connection therewith. The City Council tentatively proposes to authorize the
issuance of said series (one or more) of the certificates of obligation at its regular meeting place m
the City 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 $4,000,000 The City Council presently proposes to
provide for payment of said series (one or more) of Cernficates of Obligation from the levy of taxes
and from a limited pledge of revenues (not to exceed $1,000) derived from the operation of the City's
water and sewer system.
CITY OF FORT WORTH, TEXAS
/s/ Kenneth Barr
Mayor
r
THE STATE OF TEXAS
COUNTIES OF TARRANT AND DENTON
CITY OF FORT WORTH
I, Gloria Pearson, City Secretary of the Crty of Fort Worth, m 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 Crty Council of the Crty of Fort Worth, Texas held on July 10, 2001, and
of Ordinance No ~ 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 m
accordance with the provisions of Chapter 551, Texas Government Code In testimony whereof, I
have set my hand and have hereunto affixed the seal of said Crty of Fort Worth, this 10th day of July,
2001
rty Secreta o the
City of Fort Worth, Texas
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