HomeMy WebLinkAboutResolution 2020-029RESOLUTION NO. 2020-029
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, and (ii) 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 $2,310,000, 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
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.
Resolution No. 2020-029
Page 1 of 3
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 27th day of July, 2020.
CI'
ATTEST:
�O:
Alicia Richardson, C*.*1C'E
APPROVED AS TO FORM AND LEGALITY:
Maleshia B. McGinnis, City Attorney
APPROVED AS TO CONTENT:
Mark C. Mills, Director of Finance
Resolution No. 2020-029
Page 2 of 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICHLAND HILLS, TEXAS
CERTIFICATES OF OBLIGATION, SERIES 2020
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 14th day of September, 2020, 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 $2,310,000, 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, 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 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 $117,830,000; (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
$146,757,214; (iii) the estimated combined principal and interest required to pay the
certificates of obligation to be authorized on time and in full is $2,786,605; (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, 2040. 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. 2020-029
Page 3 of 3
Star-Telegi
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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 Throclunorton St I Ft Worth, Tx. 76102-6315
AFFIDAVIT OF PUBLICATION
Account#
1 Ad Number
I Identification
Po
I Amount
I cols
Der)th
600579
0004709005
NOTICE OF INTENTION TO ISSUE CITY OF N
$125.96
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72.00 Li
Attention: Mark C. Mills
CITY OF NORTH RICHLAND HILLS
PO BOX 820609
NORTH RICHLAND HILLS, TX 761820609
NOTICE OF INTENTION TO
ISSUE CITY OF NORTH RICHLAND
HILLS, TEXAS
CERTIFICATES OF OBLIGATION,
SERIES 2020
TAKE NOTICE . that the City
Council of the City of North
Richland Hills, Texas, shall con-
vene at 7:00 o'clock P.M. on the
14th day of September, 2020, at
the City Hall, 4301 City Point
Drive, North Richland Hills,
Texas, and, during such meet-
ing, the City Council will consid-
er the passage of an ordinance
authorizing the issuance of cer-
tificates of obligation, in one or
more series, in an amount not
to exceed $2,310,000, for the
Purpose of paying contractual
obligations to be incurred for (1)
constructing, renovating, equip-
ping, and improving various City
atthrfoad(1)pofsiwyeer, n1professio-
nal services rendered In relation
to such projects and the financ-
ing thereof; such certificates to
be payable from ad valorem tax-
es and a limited pledge of the
net revenues of the City's com-
bined Waterworks and Sewer
System. In accordance with
Texas Local Government Code
Section 271.049, (1) the current
Principal amount of all of the
City's outstanding public securi-
ties secured by and payable
from ad valorem taxes is
$117,830,000; (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 $146,757,214; (111) the es-
timated combined principal and
interest required to pay the cer-
tificates of obligation to be au-
thorized on time and in full is
may not exceed the maximum
legal interest rate; and (v) the
maximum maturity date of the
certificates to be authorized is
February 15, 2040. The certifi-
cates are to be issued, and this
notice is given, under and pur-
suant to the provisions of Texas
Local Government Code, Sub-
chapter C of Chapter 271, as
amended.
Alicia Richardson,
City Secretary
City of North Richland Hills,
Texas
THE STATE OF TEXAS
County of Tarrant
Before me, a Notary Public in and for
said County and State, this day
personally appeared VICTORIA
RODELA, Bid and Legal Coordinator
for the Star -Telegram, published by
the Star -Telegram, Inc. at Fort Worth_,
in Tarrant County, Texas; and who,
after being duly sworn, did depose
and say that the attached clipping of
an advertisement was published in
the above named paper on the listed
dates:
2 Insertion(s)
Published On:
July 29, 2020, August 05, 2020
(Principal Clerk)
SUBSCRIBED AND SWORN TO
BEFORE ME, THIS 5th day of
AMANDA DAWN GRISHAM
My Notary ID # 132031326
Expiras May 30, 2023
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