HomeMy WebLinkAboutRES 03-048 RESOLUTION 03-048
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTY OF JEFFERSON §
THE CITY OF BEAUMONT §
WHEREAS, The City of Beaumont, Texas (herein referred to as the "City"), acting
through its governing body (hereinafter referred to as the "City Council"), is authorized to issue
certificates of obligation to pay contractual obligations to be incurred in connection with authorized
street and drainage improvements, building improvements and park improvements within the City
(herein referred to as the "Project"), and for professional services rendered in connection therewith
pursuant to Texas Local Government Code Sections 271.041 -271.064, as amended; and
WHEREAS, the City Council of the City has determined that it is in the best interest of the
City and otherwise is desirable to issue a series of certificates of obligation in a principal amount
not to exceed $9,000,000 to be known as the "City of Beaumont, Texas, Certificates of Obligation,
Series 2003" (hereinafter referred to as the "Certificates") to finance the Project and to pay for
professional services rendered in connection therewith; and
WHEREAS, in connection with the issuance of the Certificates, the City Council intends to
publish notice of the intent of the City to issue the Certificates in accordance with the requirements
of the Texas Local Government Code Section 271.049, as amended; and
WHEREAS,the City Council has been presented with and has examined the proposed form
of notice to be published and finds that the form and substance thereof are satisfactory and that the
recitals and findings contained therein are true, correct and complete;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BEAUMONT, TEXAS:
Section 1. The facts and recitations contained in the preamble of this resolution are hereby
found and declared to be true and correct.
Section 2. The City Council hereby approves the form of the Notice of Intention to Issue
Certificates of Obligation presented to the City Council in substantially the form attached hereto as
Exhibit "A" and incorporated herein by reference (the "Notice"). The City Council hereby
authorizes the Mayor or any other member of the City Council or any other official of the City to
execute and deliver the Notice on behalf of the City, with such changes therein and additions
thereto as the person executing same may approve, such approval to be conclusively evidenced by
such execution thereof. The City Council hereby authorizes and directs the Mayor, the City Clerk
or any other official of the City to cause the Notice to be published in the manner required by law in
a newspaper of general circulation in the City.
Section 3. The Notice set forth in Exhibit "A" attached hereto shall be published in both
English and Spanish once a week for two (2) consecutive weeks in a newspaper which is of general
circulation in the City, the date of the first publication to be not less than fourteen(14) days prior to
the date tentatively set in the Notice for the passage of the ordinance authorizing the issuance of
such Certificates of Obligation.
Section 4. The Mayor, the City Clerk, and other officials of the City are hereby authorized
and directed to do any and all things necessary or desirable to carry out the provisions of this
resolution.
Section 5. This resolution shall take effect immediately upon its passage.
Section 6. It is officially found, determined and declared that the meeting at which this
Resolution is adopted was open to the public and public notice of the time, place and subject matter
of the public business to be considered at such meeting,including this Resolution, was given, all as
required by the Texas Government Code Chapter 551, as amended.
PASSED AND APPROVED this 18th day of February, 2003.
Mayor
THE CITY OF BEAUMONT, TEXAS
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City Clerk
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EXHIBIT "A"
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of The City of Beaumont, Texas (the
"City"), will meet in the Beaumont City Hall, 801 Main Street, Beaumont, Texas, at 1:30 p.m., on
the 18th day of March, 2003, which is the time and place tentatively set for the passage of an
ordinance and to take such other action as may be deemed necessary to authorize the issuance of
the City's Certificates of Obligation, Series 2003, in the maximum aggregate principal amount of
$9,000,000, payable from the City ad valorem taxes and from a subordinate lien and limited pledge
of certain net revenues of the City's water and sewer system,bearing interest at a rate or rates, not in
excess of that prescribed by law, and maturing over a period of years not to exceed forty(40) years
from the date thereof, for the purpose of evidencing the indebtedness of the City for all or any part
of the cost of (i) authorized street and drainage improvements; (ii) building improvements and
repairs to Art Museum of Southeast Texas, including but not limited to repairs to or replacement of
the roof, (iii) building improvements and repairs to the Julie Rogers Theater, including but not
limited to, replacement of the existing fire alarm system; (iv) improvements and repairs to public
park facilities, including but not limited to, resurfacing of and renovations to tennis courts, new
playground equipment, drainage improvements, sidewalks, landscaping, drinking fountains,
pavilions, electrical service, lighting, water playground, construction of a baseball/soccer field,
installation of water spray devices and related site improvements; and (v) the cost of professional
services incurred in connection therewith.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 18th day of
February, 2003.
/s/Evelyn Lord
Mayor
THE CITY OF BEAUMONT, TEXAS
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