HomeMy WebLinkAboutResolution 2024-042 RESOLUTION NO. 2024-042
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 (the "City"), 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) designing,
constructing, improving, and equipping park and recreation facilities that are
generally accessible to the public and are part of the City park system, 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 City Council's intention to
issue certificates of obligation, in one or more series, in a principal amount
not to exceed $5,700,000, 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. 2024-042
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 9th day of September, 2024.
CITY OF NORTH RICHLAND HILLS
By- _ �6`%`
.
Ja McCarty, Mayor
ATTEST:
VA.(' - : n
Alicia Richardson :y0 h• .f>>.
City Secretary/Chief GovernkertiOffieerSd4e?
APPROVED AS TO FORM AND LEGALITY:
Bradley A e le, Interim City Attorney
APPROVED AS TO CONTENT:
Jay, I, Fir nc Director
Resolution No. 2024-042
Page 2 of 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICHLAND HILLS, TEXAS
CERTIFICATES OF OBLIGATION, SERIES 2025
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 9th day of December, 2024, 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 $5,700,000, for the purpose
of paying contractual obligations to be incurred for (i) designing, constructing, improving,
and equipping park and recreation facilities that are generally accessible to the public and
are part of the City park system, 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 $129,685,000; (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 $161,375,128; (iii) the estimated
combined principal and interest required to pay the certificates of obligation to be
authorized on time and in full is $7,698,008; (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, 2045. 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. 2024-042
Page 3 of 3
The Beaufort Gazette Durham I The Herald-Sun The Modesto Bee
The Belleville News-Democrat Fort Worth Star Telegram The Sun News-Myrtle Beach
Bellingham Herald The Fresno Bee Raleigh News Sr Observer
McClatchyCentre Daily Times The Packet Rock Hill I The Herald
Sun Herald The Kansas City Star The Sacramento Bee
Idaho StatesmanLexingtonngton Herald-Leader San Luis Obispo Tnbune
Bradenton Herald The Telegraph-Macon Tacoma ( The News Tribune
The Charlotte Observer Merced Sun-Star Tri-City Herald
The State Miami Herald The Wichita Eagle
Ledger-Enquirer Et Nuevo Herald The Olympian
AFFIDAVIT OF PUBLICATION
Account 0 Order Number Identification Order PO Amount Cols Depth
19363 591821 Print Legal Ad-IPL01937640-IPL0193764 Traci Henderson $133.62 1 58 L
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 Mary
Castro,Bid and Legal Coordinator for the Star-
treasury@nrhtx.com;thenderson@nrhtx.com Telegram,published by the Star-Telegram,Inc.at
Fort Worth,in Tarrant County,Texas;and who,
NOSCE ISSUE NTE TIO N TO after being duly sworn,did depose and say that
NORTH RICHLAND HILLS,Tex- the attached clipping of an advertisement was
OBLIGATION,SERIES 2025 published in the above named paper on the listed
TAKE NOTICE that the City Council of dates:
the City of North Richland Hills,Texas,
shall convene at 7:00 o'clock P.M.on
the 9th day of December,2024,at the
City Hall,4301 City Point Drive,North 2 insertion(s)published on:
Richland Hills, Texas, and, during
such meeting, the City Council will 09/13/24,09/22/24
consider the passage of an ordinance
authorizing the issuance of certificates
of obligation,in one or more series,in
an amount not to exceed$5,700,000,
for the purpose of paying contrac-
tual obligations to be incurred for(I)
designing, constructing, improving,
and equipping park and recreation
facilities that are generally accessi-
ble to the public and are part of the
City park system,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 com-
bined Waterworks and Sewer System. M '+ o
In accordance with Texas Local Gov O _ _ /
emment Code Section 271.049,(i)the
current principal amount of all of the
City's outstanding public securities
secured by and payable from ad va-
lorem taxes is$129,685,000;(ii)the
current combined principal and in-
terest required to pay all of the City's Sworn to and subscribed before me this 20th day of
outstanding public securities secured September in the year of 2024
by and payable from ad valorem taxes p
on time and in full is$161,375,128;(iii)
the estimated combined principal and
interest required to pay the certificates
of obligation to be authorized on time
and in full is$7,698,008;(iv)the max-
imum 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 15,2045.The t
certificates are to be issued,and this �� Haiciik "
notice is given,under and pursuant to
the provisions of Texas Local Govern-
ment Code,Subchapter C of Chapter Notary Public in and for the state of Texas.residing in
271,as amended. Dallas County
Alicia Richardson,City Secretary
City of North Richland Hills,Texas
1PL0193764 =-p.r r,,4,, STEPHANIE HATCHER
Sep 13,22 2024 r
_ :*= My Notary ID#133534406
I.";: d. Expires January 14,2026
Extra charge for lost or duplicate affidavits.
Legal document please do not destroy!