HomeMy WebLinkAboutOrdinance 14493AN ORDINANCE
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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 2001, 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 of the 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 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, 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 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 City Manager shall cause said notice to be published, in substantially the
form attached hereto, in 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 in 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 in 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 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 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 23rd day of January, 2001
C LU-~
Mayor, City of Fort Worth, Texas
ATT T
City Secretary, ity of
Fort Worth, Texas
APPROVED AS TO FORM
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City Attorney, City 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 City Council of the City of Fort Worth,
Texas, to issue one or more series 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 City, to-wit, the acquisition ,of traffic
signals for use at various intersections of streets within the City and the acquisition of rights-of-way by
the City to enable the construction of an exit ramp off of Interstate 30 at Lancaster Avenue, 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 27th
day of February, 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 $5,500,000 The City Council
presently proposes to provide for payment of said series (one or more) of Certificates of Obligation from
the levy of taxes and' from a limited pledge of surplus revenues derived from the operation of the City's
municipal water and sewer system
CITY OF FORT WORTH, TEXAS
/s/ Kenneth Barr
Mayor
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