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HomeMy WebLinkAboutOrdinance 14077ORDINANCE 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 2000A, 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 8th day of February, 2000 C ,~~.u-, Mayor, City of Fort Worth, Texas ATT ST Ci 'Secretary, ' y of Fort Worth, Texas APPROVED AS TO FORM ~, w tJ a ~~ v ~ , ~ ~~ City Attorney, City of w Fort Worth, Texas (SEAL) ~ - ,~ ; ~, a ;~+,,,~ r ~.1 J '`~. ~ a, C ~ ~"' *~ 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 construction of improvements to taxiways at Meacham Field and improvements to Spinks Field, airports owned by the City of Fort Worth, 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 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 $1,000,000 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 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 THE STATE OF TEXAS COUNTIES OF TARRANT AND DENTON CITY OF FORT WORTH I, Gloria 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 minutes of the regular, open, public meeting of the City Council of the City of Fort Worth, Texas held on February 8, 2000, 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 in 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 City Secretary of the City of Fort Worth, Texas ~ ~ ; 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