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HomeMy WebLinkAboutOrdinance 138304-~.~~~`~1'1,~ i383 d ORDINANCE DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE WATER AND SEWER SYSTEM SUBORDINATE LIEN REVENUE BONDS, AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT WHEREAS, it is hereby officially found and determined that it is necessary under Texas law to authorize the publication of Notice of Intention to Issue Subordinate Lien Revenue Bonds to provide funds for the improvements described in the Notice referred to below; 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 descnbed Certificates of Obligation, and WHEREAS, that said 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, as amended. 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 Secretary 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 (14th) day before the date tentatively proposed for authorizing the issuance of the Revenue Bonds as shown in said notice Section 3 That the facilities and improvements to be financed with proceeds from the proposed Revenue Bonds 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 Revenue Bonds 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 Revenue Bonds 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. PASSED the 15th day of June, 1999 ~~ ~~~ Mayor, City of Fort Worth, Texas A -EST City Secretary City of Fort Worth, Texas (SEAL) ~~;.;~ ~;.,~r~ .~. ~~ ~~ ~a APPROVE AS TO FORM AND LEOA- ITY City Attorney City of Fort Worth, Texas EXHIBIT A NOTICE OF INTENTION TO ISSUE REVENUE BONDS NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Fort Worth, Texas, to issue the interest bearing revenue bonds of the City entitled "City of Fort Worth, Texas Water and Sewer System Subordinate Lien Revenue Bonds, Series 1999", for the purpose of providing funds for extensions and improvements to the City's wastewater treatment facilities. The City Council tentatively proposes to authorize the issuance of said revenue bonds at its regular meeting place in the City Hall at a regular meeting to commence at 7 00 o'clock p m. on the 13th day of July, 1999 The maximum amount of revenue bond indebtedness that may be authorized for such purpose is $38,000,000 The City Council presently proposes to provide for payment of such revenue bonds from surplus revenues of the City's Water and Sewer System. The proposed revenue bonds are to be sold to the Texas Water Development Board as part of its State Revolving Fund program to provide low-interest loans to political subdivisions to construct wastewater treatment facility improvements. 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 June 15, 1999, and of Ordinance No ..~8~ 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 15th day of June, 1999 ~~ ~~J'J~`~~ ~~ ~' ~~, ~~~ ~ r ~ -"~ `' °' ~; .~ n +~ ~. ~: ~r!rrr~.t„~rr~~~t~~'~'~'~ks~ City Secretary of the City of Fort Worth, Texas (SEAL) 1330 ORDINANCE DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE WATER AND SEWER SYSTEM SUBORDINATE LIEN REVENUE BONDS, AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT WHEREAS, it is hereby officially found and determined that it is necessary under Texas law to authorize the publication of Notice of Intention to Issue Subordinate Lien. Revenue Bonds to provide funds for the improvements described in the Notice referred to below, and that said 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, as amended 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 Secretary 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 (14th) day before the date tentatively proposed for authorizing the issuance of the Revenue Bonds as shown in said notice PASSED the 15th day of June, 1999 l Mayor, City of Fort Worth, Texas AT EST .~,t/L.,~r~ City Secretary City of Fort Worth, Texas (SEAL) APP VED AS TO FO AN LEGALITY City Attorney City of Fort Worth, Texas CITY OF-FORT WORTH EXHIBIT A NOTICE OF INTENTION TO ISSUE REVENUE BONDS NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Fort Worth, Texas, to issue the interest bearing revenue bonds of the City entitled "City of Fort Worth, Texas Water and Sewer System Subordinate Lien Revenue Bonds, Series 1999", for the purpose of providing funds for extensions and improvements to the City's wastewater treatment facilities The City Council tentatively proposes to authorize the issuance of said revenue bonds at its regular meeting place in the City Hall at a regular meeting to commence at 7 00 o'clock p m on the 13th day of July, 1999 The maximum amount of revenue bond indebtedness that may be authorized for such purpose is $38,000,000 The City Council presently proposes to provide for payment of such revenue bonds from surplus revenues of the City's Water and Sewer System The proposed revenue bonds are to be sold to the Texas Water Development Board as part of its State Revolving Fund program to provide low-interest loans to political subdivisions to construct wastewater treatment facility improvements CITY OF FORT WORTH, TEXAS s Kenneth Barr Mayor CITY OF FORT WORTH