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HomeMy WebLinkAboutRES 13-138 AAb RESOLUTION NO. 13-138 RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERMCATES 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 capital improvements and equipment purchases within the City(herein referred to as the"Project"), as more particularly described in the notice attached hereto as Exhibit "A", and for professional services rendered in connection therewith pursuant to Texas Local Government Code Sections 271.041 -271.065,as amended,and for costs of issuance and related fees;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$43,000,000 to be known as the"City of Beaumont,Texas,Certificates of Obligation, Series 2013" (hereinafter referred to as the "Certificates") to finance the Project and to pay for professional services rendered in connection therewith, and for costs of issuance and related fees; 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 AAb a newspaper of general circulation in the City. Section 3. The Notice set forth in Exhibit"A"attached hereto shall be published in English 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 thirty(30)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 25''day of June,2013. 6YW&-IY �' yor THE C F BEAUMONT,TEXAS A T: City Clerk THE CITY OF BEAUMONT,TEXAS s - 2 - AAb EXHIBIT 64A" See document under tab AAc—Notice of Intent to Issue. -3 - AAc 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 pan., on the 30th day of July, 2013, 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 2013 the maximum principal amount of $43,000,000 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 but only to the extent of and in an amount not to exceed $1.0,000 in the aggregate, 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 to finance all or any part of the cost of the following projects, which projects will be financed in such order of priority as determined by the City Council: (1) City street improvements, including street construction, extension, reconstruction, widening, replacement, resurfacing, and rehabilitation, and the construction of related sidewalks, curbs, gutters, ditches, drainage improvements, lighting, and landscape improvements; (2) construction of laterals, improvements to inlets, manholes, and pipe on Campus Avenue, Zavalla Drive, East Woodrow Street, Kenneth Avenue, Saxe Street, and Florida Avenue; (3) construction of drainage improvements on City property or City right-of-way in the Caldwood Addition including installation or replacement of inlets and laterals on Bristol, Sunbury, Medford, Canterbury, Cross, North Caldwood, Central Caldwood, South Caldwood and West Caldwood Streets; (4) construction or improvements on City property or City right-of-way for two remaining phases of the High School Ditch Project including drainage improvements in area bounded by IH- 10 on. the north, South Street on the south, First Street on the east and Eleventh Street on the west; (5) conduct storm water master drainage plan study through a professional services agreement to update the current plan for drainage projects; (C)relocation of Fire Station No. 2 from Ironton Street to Helbig Street; (7) construction of hike and bike trails on easement owned by City between Major Drive and Dowlen Road for public use; (8) relocation of Fire Station No. 1. to Gulf and Caldwell Streets; (9) complete construction of new Public Health Complex (on City-owned property on College near 4"' Street), and ftunishings and equipment; (10) construction of new Senior Center to be owned by the City for public use to replace existing Best Years Center; (11) relocation of Fire Station No. 11 to the vicinity of Royal and Neches Streets; (12) Improvement to Riverfront Park along Neches River between Elizabeth Street and the KCS Bridge for public use, on City owned property; (13) the cost of professional services incurred in connection with the respective projects; and (14) costs of issuance of debt and related fees. EXHIBIT "A"