HomeMy WebLinkAboutResolution 2019-039 RESOLUTION NO. 2019-039
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NORTH
RICHLAND HILLS, TEXAS, APPROVING AND AUTHORIZING
PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council of the City of North Richland Hills, Texas, has determined
that certificates of obligation should be issued, in one or more series, under
and pursuant to the provisions of Texas Local Government Code,
Subchapter C of Chapter 271, as amended (the "Act"), for the purpose of
paying contractual obligations to be incurred for(i) constructing, renovating,
equipping, and improving various City streets, including drainage,
landscaping, curbs, gutters, sidewalks, entryways, signage, lighting and
traffic signalization incidental thereto and the acquisition of land and rights-
of-way therefor, (ii) acquiring fleet vehicles and equipment for various City
departments, including fire/emergency services department and public
works department, (iii) constructing, renovating and improving City facilities,
(iv) constructing, acquiring, purchasing, renovating, enlarging, equipping,
and improving the City's water and sewer system facilities, including the
acquisition of land and rights-of-way therefor, (v) constructing, improving
and equipping the City's golf course and related infrastructure and facilities,
and (vi) professional services rendered in relation to such projects and the
financing thereof (collectively such purposes are referred to herein as the
"Project"); 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
NORTH RICHLAND HILLS, TEXAS, THAT:
SECTION 1. The City Secretary or the Assistant City Secretary is hereby authorized and
directed to cause notice to be published of the Council's intention to issue
certificates of obligation in one or more series in a principal amount not to
exceed $9,850,000, for the purpose of paying contractual obligations to be
incurred for the Project; 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 or the Assistant 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
Resolution No.2019-039
Page 1 of 3
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 certificates of obligation.
SECTION 3. This Resolution shall take effect and be in full force and effect from and after
the date of its adoption, and it is so resolved; and all Resolutions of the City
Council of the City in conflict herewith are hereby amended or repealed to
the extent of such conflict.
PASSED AND APPROVED on this 23rd day of September, 2019.
CITY F ORT IC AND HILLS
By:
Os ar vi , Mayor
;4 UUunhturair�/,,/
ATTEST: `�.1`� �. Ic .®'''%%
, �
Alicia Richardson, Cifyr\Secret y ;et
//im 11l1IiiIl1l ti
APPROVED AS TO FORM AND LEGALITY:
Maleshia B. McGinnis, City Attorney
APPROVED AS TO CONTENT:
Mark C. Mills, Director of Finance
Resolution No.2019-039
Page 2 of 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICHLAND HILLS, TEXAS
CERTIFICATES OF OBLIGATION, SERIES 2019
TAKE NOTICE that the City Council of the City of North Richland Hills, Texas, shall
convene at 7:00 o'clock P.M. on the 12th day of November, 2019, at the City Hall, 4301
City Point Drive, North Richland Hills, 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 an amount not to exceed $9,850,000, for the purpose
of paying contractual obligations to be incurred for(i) constructing, renovating, equipping,
and improving various City streets, including drainage, landscaping, curbs, gutters,
sidewalks, entryways, signage, lighting and traffic signalization incidental thereto and the
acquisition of land and rights-of-way therefor, (ii) acquiring fleet vehicles and equipment
for various City departments, including fire/emergency services department and public
works department, (iii) constructing, renovating and improving City facilities, (iv)
constructing, acquiring, purchasing, renovating, enlarging, equipping, and improving the
City's water and sewer system facilities, including the acquisition of land and rights-of-
way therefor, (v) constructing, improving and equipping the City's golf course and related
infrastructure and facilities, and (vi) 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 combined Waterworks 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 $121,140,000; (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 $149,692,262; (iii) the estimated
combined principal and interest required to pay the certificates of obligation to be
authorized on time and in full is $12,179,807; (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, 2039. 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.
Alicia Richardson, City Secretary
City of North Richland Hills, Texas
Resolution No.2019-039
Page 3 of 3
sc
Star-Telegram oc �
MEDIA d 2D19
Arlington Citizen-Journal I The Keller Citizen I La Estrella
Mansfield News-Mirror I Star-Telegram Northeast I Weatherford Star-Telegram
star-telegram.com 1808 Throckmorton St.I Ft Worth,Tx.76102-6315
AFFIDAVIT OF PUBLICATION
Account it Ad Number Identification PO Amount Cols Depth
600579 0004394016 NOTICE OF INTENTION TO ISSUE CITY OF N 'ICATES OF OBLIGATION,SERIF $149.48 1 86.00 Li
Attention: Traci Henderson THE STATE OF TEXAS
CITY OF NORTH RICHLAND HILLS County of Tarrant
PO BOX 820609
NORTH RICHLAND HILLS,TX 761820609 Before me,a Notary Public in and for
said County and State,this day
•
personally appeared VICTORIA
NOTICE.OF II+l7ENTi0N TO ISSUE RODELA,Bid and Legal Coordinator
CITY•OF{NORTH RICHLAND
HILLS,TEXAS CERTIFICATES for the Star-Telegram,published by
OF'DBLIGATION SERIES'2014 - .--- _
TiMIE NOTICE that the City Council i NOTICE OF INTENTION TO ISSUE ' the Star-Telegram,Inc.at Fort Worth,
of the-.City of.North Richland CITY OF NORTH RICHLAND
Hills Texas, hall Convene at HILLS in Tarrant County,Texas;and who,TEXAS CERTIFICATES Y
7:I0 o'clock P.ft, on the 12th OF OBLIGATION,SERIES 2019
day of November-_20E9 at the TAKE NOTICE that the City Council after being duly sworn,did depose
Cit h Richland
4301 Lily Point Drive, of- .the City of North' Richland I
North Richland Hills,Texas and, and say that the attached clipping of
Council meeting, the City Hills, Texas, shall convene at i
7:00 o'clock P.M. on the 12th I an advertisement was published in
Council will'consider the.pas-
sage of an ordinate authorizing f day of November,2019,at the
the issbance of certllicates.or City Halt;4301 city Point Drive, I the above named paper on the listed
obligation,in doe'or.more sex= North Richland Hills,Texas,and, I dates:
ies,in an moved not toexceet during such meeting, the City
$9,05a;000,for the p repos,e of 1 Council will consider the pas-
paying contractual obligations sage of an ordinance authorizing
to be;rncurred fgr:(i)construct- the issuance of certificates of
log;:renovating,requlpping,and obligation,in one or more ser--,
improving various City streets, = les,',in an amount not to exceed.
iincluding dratnage,Jandscapingr $9,850,000,for the purpose of 2 Insertion(s)
curbs/glitter S likleinelks,entry- payin9 contractual obligations
araysi signatle,lightinn and•traf- to be incurred for(I)construct-
fic . signa1lizahon_ incidental ing,.renovating,equipping,and Published On:
thoroto,and the acquisitleri'OF Improving various City streets,
18)1 eqd rights-of-waytherefor including drainage;landscaping, September 26,2019,October 03,
Yu)ecgiuring#feet vehicles aryl curbs,gutters,:sidewalks,entry;
equipmnent for Yariou5-City:de- I ways,signage,lighting and fief 2019
Pre/eients, Inctuding me signal ization incidental:'
'fire/ewer ency services depart thereto and the acquisition of
merit anttgpublic wor3( depart- land and rights-of-way therefor,
Mont, (ill) constructing, (ii)acquiring,renovating and i structin City q ing fleet vehicles and
facilities,(N]constructing Sc- equipment for various City'de- If
qutrlpg, Purchasing,renovating, partments including
enlarging,•equipping and im= '• fire/emergency services depart- i
proving the City's water.and meet and public.works depart- I
sewer system facilities,.hid* went, (ii0 constructing,
ing'.the'acquiisition:ofland cod renovating and:improving.City
rightsei;way:therefor,(y)con- facilities,(iv)constructing,ec-
.strutting,improving and equip,- quiring,purchasing,renovating,
ping the City's golf course and enlarging equipping, and im-
totated.mfrastructure and forth- proving the City's water and
ties:and(Cl)professional sets- sewer system facilities,Includ-
Ices rendered n relation tv such trig the acquisition of land and
pvrojects and the financing rights-of-way therefor,(v)con-thereoft ectt certificates to Pe strutting,improving and equip- .13
payable from•ad:.vatoeem to%es ping the City's golf course and •
and a limited pledge of the.net related infrastructure and facia- (Principal Clerk)
r4vendes of'the City s„combinedi i ties,.and`(vi)professional,serv-
1k'atenvortks and Sewer System. i ices rendered in.relation•to such SUBSCRIBED AND SWORN TO
.In accordance with TexasLoceG : projects and the financing
'Government Cede Section ' thereof;such certificates to be.
271.049,(1)-thecurrentp�incipal BEFORE ME,THIS 3rd dayof
amount of all of the[Its l out-
standing + Payable from ad valorem•taxes
and a limited pledge of the net • <.er in the year of 2019 public securities ad ,
cured by and pairable,�fom ail revenues of the City's combined
valorem taxes Is$421,140,ODp; I •
Waterworks and Sewer System. r
(ii)the current combined princi- In accordance with Texas Local
pal and interest required to.p3'! Government Code Section - lei('
'ail•of the City's outstanding. 271.049,(i)the current principal /
public securities secured by and amount of all of,the City's out-
►• il
go:able from•ad Valorem taxes standing public securities. se- jp
an time and in full is cured by and payable from ad �_�� J► -l.•
$149,692,252i(iir)-the estimat- valorem taxes is,$121,140,000;
ed combined principal and inter- (ii)the current combined princi- I %DO60-,
est required to pay the certill- pal and interest required to pay
cates of obligation to be author- all of the City's outstanding i"i'B.f.i;,- AMANDA DAWN GRISHAM
ilea.on time and m fill' is public securities,secured by and,l- 1�
E2,179,807• iv)'Cite maximum c.; :.=
payable from and valorem taxes �� - My Notary ID$132031326
Interest no tote ee the certificates mamum ,$1 time . the full i- ' VS e4 Expires Y
may not exceed'the maximum ^,' $+•• May 30,2023
legal interest rate,''and(v)the ed cor tined;(tic estimat- ;''pr'',.••�
maximum maturity date of the ed combined principal and inter- I
certificates td:be authorized is cestot required to pay the certifi-
cates of obligation to be author- Extra charge for lost or
February 35,2039. The Gerbil- 9 duplicate affidavits,
sates are to be Issue and this ized on time and •'in full!. Is
�' $interest
(iv)the maximum. Legal document please do not destroy)
notice 9s r�fi�reot,under and pus- lI interest rate for the certificates.
I may,not exceed the maximum,
I legal"..interest rate;and(v)'the
Imaximum maturity date of-the i
certificates to be authorized is I
February 15,2039. The certifi-
Cates are to be issued,and this I
1 notice is given,under and pur-,
suant to the provisions of Texas'
Local Government Code, Sub-
i chapter C of Chapter 271, as
I amended.
(Alicia Richardson,City Secretary
{City_of_North_Richland Hills,Texas