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HomeMy WebLinkAboutOrdinance 14076ORDINANCE 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 2000, 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 in Exhibit A to this Ordinance pnor 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 appropnate 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 rt issues the hereinafter described Certificates of Obligation, and WHEREAS, rt rs 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 Crty 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 m the Crty of Fort Worthy Texas, for two consecutive weeks, the date of the first publication to be before the fourteenth day before the day tentatively proposed for authonzmg 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 wluch is to be reimbursed is paid. 5 That this Ordinance shall be effective immediately from and after its passage m accordance with the provisions of Section 2 of Chapter 25 of the Charter of the Crty, and ~t is accordingly so ordained. PASSED AND APPROVED this the 8th day of February, 2000 Mayor, Crty of Fort Worth, Texas AT ST rty Secretary, ty of Fort Worth, Texas APPROVED AS TO FORM. t City Attorney, Crty of Fort Worth, Texas r 4 1t.I"t t, ` . l ~ r ~~ ts 1 '~ a ~ Yn i ~ s ~ _ mat .1 ~ ` (SEAL) ". .~ , .xr'~, ~~~ rr~y,~S\~~\~ `' F_ 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 senes of the interest bearing certificates of obligation of the Crty 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 and the equipping of the Fort Worth Convention Center, located at 1111 Houston Street, in the City of Fort Worth, Texas, and the payment of fiscal, engineering and legal fees incurred in connection therewith. The City Council tentatively proposes to authorize the issuance. of said senes (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 29th day of February, 2000 The maximum amount of Certificates of Obligation indebtedness that may be authorized to be sold on said date for such purposes described above is $49,000,000 The City Council presently proposes to provide for payment of said series (one or more) of Certificates of Obligation from the levy of 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 City 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 Ban Mayor THE STATE OF TEXAS COUNTIES OF TARRANT AND DENTON CITY OF FORT WORTH I, Glona Pearson, Crty 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 rrunutes of the regular, open, public meeting of the City Council of the Crty of Fort Worth, Texas held on February 8, 2000, and of Ordinance No ~ 7 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 City of Fort Worth, this ~~ day of February, 2000 ~-Q~I.~L.e~ rty Secretary oft e Crty of Fort Worth, Texas (SEAL)