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Home My WebLink About21-1597 01-12-2021 RESOLUTION NO. 21-1597 A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION IN AN AMOUNT NOT TO EXCEED $5,650,000 FOR PUBLIC IMPROVEMENTS TO CITY STREETS. WHEREAS, the City Council (the "City Council") of the City of Euless, Texas (the "City"), has determined that certificates of obligation should be issued under and pursuant to the provisions of Subchapter C of Chapter 271 of the Texas Local Government Code, as amended (the "Act"), for the purpose of paying contractual obligations to be incurred for (i) the construction of public works; and/or, (ii) the purchase of materials, supplies, equipment, machinery, land, and rights-of-way for authorized needs and purposes; and/or (iii) for professional services, all as specified below; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in accordance with the provisions of the Act. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: SECTION 1. The City Secretary is hereby authorized and directed to cause notice to be published of the City Council's intention to issue certificates of obligation in one or more series in a principal amount not to exceed $5,650,000, for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: constructing, resurfacing, enlarging, equipping, and improving various streets, roads, bridges, overpasses, alleyways, thoroughfares, sidewalks, and pathways within the City, including lane markings, signage, street drainage, utility line relocations and extensions, curbs, gutters, ADA accessibility, traffic signals, lighting and landscaping related thereto and the acquisition of necessary rights-of-way and land in connection therewith; and (ii) professional services rendered in relation to such projects and the financing thereof; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues derived from the operation of the City's combined Waterworks and Sewer System. The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2. The City Secretary shall cause the aforesaid notice to be published (i) in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least forty-six (46) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation and (ii) continuously on the City's website for at least forty-five (45) days before the date stated therein for the passage of the ordinance authorizing the issuance of the certificate of obligation. APPROVED AND ADOPTED at a regular meeting of the Euless City Council on January 12, 2021, by a vote of 7 ayes, 0 nays, and 0 abstentions. APPROVED: ��da Martin, Mayor ATTEST: Ri Sutter;, AMC, CMC, City Secretary Resolution No. 21-1597, Page 2 of 3 EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2021 TAKE NOTICE that the City Council of the City of Euless, Texas, shall convene at 7:00 o'clock P.M. on the 9th day of March, 2021, at its regular meeting place in the City Hall located at 201 N. Ector Dr., Euless, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in a principal amount not to exceed FIVE MILLION SIX HUNDRED FIFTY THOUSAND DOLLARS ($5,650,000), for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: constructing, resurfacing, enlarging, equipping, and improving various streets, roads, bridges, overpasses, alleyways, thoroughfares, sidewalks, and pathways within the City, including lane markings, signage, street drainage, utility line relocations and extensions, curbs, gutters, ADA accessibility, traffic signals, lighting and landscaping related thereto and the acquisition of necessary rights-of-way and land in connection therewith; and (ii) professional services rendered in relation to such projects and the financing thereof; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the City's water and sewer system. In accordance with Texas Local Government Code Section 271.049, (i) the current principal amount of all of the City's outstanding public securities secured by and payable from ad valorem taxes is $62,665,000; (ii) the current combined principal and interest required to pay all of the City's outstanding public securities secured by and payable from ad valorem taxes on time and in full is $81,079,901.55; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $7,272,509; (iv) the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity date of the certificates to be authorized is February 15, 2041. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended. Kim Sutter, City Secretary City of Euless, Texas Resolution No. 21-1597, Page 3 of 3 i Star Telegram MEDIA Arlington Citizen-Journal I The Keller Citizen I La Est �� Mansfield News-Mirror Star-Telegram NortheastWeatherford c`ar-Telegram ram g I 9 star-telegram .corn 1808 Throckmorton St. I Ft Worth , Tx. 76102-6315 AFFIDAVIT OF PUBLICATION Account # Ad Number Identification PO Amount Cols Depth 600565 0004852085 NOTICE OF INTENTION TO ISSUE CITY OF E $61 . 88 1 79 . 00 Li Attention : Lindsay Wells THE STATE OF TEXAS CITY OF EULESS County of Tarrant 201 N ECTOR DR EULESS , TX 760393543 Before me , a Notary Public in and for said County and State , this day personally appeared VICTORIA NOTICE OF INTENTION TO ISSUE CITY OF EULESS , TEXAS RODELA , Bid and Legal Coordinator TAX AND REVENUE CERTIFICATES OF OBLIGATION ,ENUEfor the Star-Telegram , published by SERIES 2021 TAKE NOTICE that the City the Star-Telegram , Inc. at Fort Worth , Council of the City of Euless, in Tarrant County , Texas ; and who , Texas , shall convene at 7 : 00 o '- _ _ _ � ' . ,, r � clock P . M . on the 9th day of c after being duly sworn , did depose March , 2021, at its regula .,, ... . : , meeting place in the City Hal - µ .. . ., . . . and say that the attached clipping of located at 201 N . Ector Dr . , Eu legd%S & public notkes • leg &S t sublic notices less, Texas , and, during suct .r an advertisement was published in meeting, the City Council wil less, Texas, and, during such may not exceed the maximum consider the passage of an ordi - meeting , the City Council will legal interest rate; and ( v) the the above named paper on the listed nance authorizing the issuance consider the passage of an ordi - maximum maturity date of the of certificates of obligation , in nance authorizing the issuance certificates to be authorized is dates : one or more series , in a principal of certificates of obligation , in February 15 , 2041 . The certifi - amount not to exceed FIVE MIL - one or more series , in a principal cates are to be issued, and this LION SIX HUNDRED FIFTY amount not to exceed FIVE MIL - notice is given , under and pur - THOUSAND DOLLARS LION SIX HUNDRED FIFTY suant to the provisions of Texas ( $ 5, 650, 000 ), for the purpose of THOUSAND DOLLARS Local Government Code, Sub - paying contractual obligations ($5 , 650,000), for the purpose of chapter C of Chapter 271, as to be incurred for ( i ) the con - paying contractual obligations amended . 2 Insertion (s ) struction of public works, to to be incurred for ( i ) the con - Kim Sutter , City Secretary wit: constructing , resurfacing, struction of public works, to City of Euless, Texas enlarging , equipping , and im - wit : constructing , resurfacing , Published On : proving various streets, roads, enlarging , equipping , and im - January 14 , 2021 , January 21 , 2021 bridges, overpasses, alleyways, proving various streets, roads, thoroughfares, sidewalks, and bridges, overpasses , alleyways , pathways within the City, in - thoroughfares, sidewalks, and cluding lane markings, signage, pathways within the City , in - street drainage, utility line relo- cluding lane markings, signage, cations and extensions , curbs, street drainage, utility line relo- gutters, ADA accessibility, traf- cations and extensions , curbs, fic signals, lighting and land - gutters , ADA accessibility, traf- scaping related thereto and the fic signals , lighting and land- acquisition of necessary rights- scaping related thereto and the of-way and land in connection acquisition of necessary rights- therewith ; and ( ii ) professional of-way and land in connection services rendered in relation to therewith; and ( ii ) professional such projects and the financing services rendered in relation to thereof; such certificates to be such projects and the financing payable from ad valorem taxes thereof; such certificates to be and a limited pledge of the net payable from ad valorem taxes revenues of the City ' s water , and a limited pledge of the net \ICE0 Al and sewer system . In accord - revenues of the City' s water ance with Texas Local Govern - and sewer system . In accord r ) el.. - meat Code Section 271 . 049, ( i ) ance with Texas Local Govern - the current principal amount of ment Code Section 271 . 049, ( i ) ( Principal p Clerk) all of the City ' s outstanding the current principal amount of public securities secured by and all of the City' s outstanding payable from ad valorem taxes public securities secured by and SUBSCRIBED AND SWORN TO is $ 62, 665, 000; ( ii ) the current payable from ad valorem taxes BEFORE ME , THIS 21st day of combined principal and interest is $62, 665, 000; ( ii ) the current required to pay all of the City' s combined principal and interest January in the year of 2021 niif ct ndinn niihlic securities required to pay all of the City' s NOTICE OF INTENTION TO outstanding public securities ISSUE CITY OF EULESS, TEXAS secured by and payable from ad TAX AND REVENUE valorem taxes on time and in CERTIFICATES OF OBLIGATION , full is $81, 079 ,901 . 55 ; ( iii ) the , SERIES 2021 estimated combined principal .. . .. , , - : . • -- - . 0 a and interest required to pay the . ? TAKE NOTICE that the City certificates of obligation to be , r- ^ Council of the City of Euless , authorized on time and in full is %�; SY ,fir i COTT � � Texas , shall convene at 7 : 00 0 , clock P . M . on the 9th day of $7 , 272, 509; ( iv) the maximum , . M� �0 I # � 37�$ J� 1, March , 2021, at its regular interest rate for the certificates ; '� • meeting place in the City Hall 4+ ' Expires October 23 2022 Notary Pub te '- I located at 201 N . Ector Dr . , Eu - 0 __ . :- - . ` . _ . - Kim Sutter, City Secretary Extra charge for lost or duplicate affidavits. City of Euless , Texas Legal document please do not destroy !