HomeMy WebLinkAboutOrdinance 11927AN ORDINANCE ~ // ~' ~ 7
BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS,
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION, SERIES 1995, AND ORDAINING OTHER
MATTERS RELATING TO THE SUBJECT
WHEREAS, it is hereby officially found and deternuned that the holding of the meeting at
which this Ordinance is to be considered is required as soon as possible and without delay for the
unmediate and efficient utilization of physical resources in the City and for the efficient and effective
administration of the City's affairs, and that said meeting 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 COUNCII, 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 T~orth 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 City expects to pay expenditures in connection with the design, planning,
acquisition and construction of the project described in Exhibit A (the "Project") prior to the issuance
of the Certificates of Obligation, the City further finds, considers and declares that the reimbursement
of the City for the payment 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 Treasury Regulations, to reimburse itself for such payments as such time
as it issues the Certificate of Obligations to finance the Project; no tax-exempt obligations, however,
will be issued by the City in furtherance of the intent expressed by this Ordinance after a date which
is later than 18 months after 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.
Section 4 That all ordinances or parts thereof in conflict herewith are hereby repealed.
Section 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 18th day of April, 1995
ay r, Ci o ort Worth, exas
ATTEST
~~
City Secretary, City of
Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY
~~ ~~
City Attorney, City of
Fort Worth, Texas
.~.
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 serves of the interest beanng certificates of obligation of the City
to be entitled "City of Fort Worth, Texas Combination Tax and Revenue Certificates of Obligation
(Alliance Airport Project)", for the purpose of paying contractual obligations to be incurred by the
City, to-wit, the construction of airport runway and other improvements at Alliance Airport located
at 2250 Alliance Boulevard in the City (the "Project") 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 City Hall at a meeting to commence at 10 o'clock, a.m., on the 30th day of May, 1995
The maximum amount of Certificates of Obligation indebtedness that may be authorized for such
purpose is $6,500,000 A public heanng, as required by the provisions of Section 147(f) of the
Internal Revenue Code of 1986, shall be held on May 30, 1995, at 9'00 a.m., in the pre-Council
Conference Room on the 2nd floor of City Hall on the issuance of the Certificates of Obligation. All
persons interested in such matter are invited to submit written comments to the City at the address
set forth below prior to the tune set for the public heanng or to attend the public heanng and express
any comments they may have regarding the Project or the issuance of the Certificates of Obligation.
The City Council presently proposes to provide for payment of said senes (one or more) of
Certificates of Obligation from the levy of taxes and from surplus revenues derived from the operation
of the City's municipal airports.
CITY OF FORT WORTH, TEXAS
1000 Throckmorton
Fort Worth, Texas 76102
/s/ Kay Granger
Mayor