08-24-15 Regular Meeting of La Porte City Council

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RESOLUTION NO. 2015- RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION; AUTHORIZING DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT; AND AUTHORIZING CERTAIN OTHER MATTERS RELATING THERETO STATE OF TEXAS § COUNTY OF HARRIS § CITY OF LA PORTE § WHEREAS, the City Council (the "City Council") of the City of LaPorte, Texas (the "City"), is authorized to issue certificates of obligation to pay contractual obligations to be incurred for the construction of public works, for the purchase of materials, supplies, equipment, machinery, buildings, land and rights -of -way for authorized needs and purposes, and for the payment of contractual obligations for professional services pursuant to Subchapter C of Chapter 271, Texas Local Government Code, as amended; WHEREAS, the City Council has determined that it is in the best interests of the City and otherwise desirable to issue certificates of obligation in a principal amount not to exceed $8,000,000 styled "City of La Porte, Texas, Certificates of Obligation, Series 2015" (the "Certificates") in accordance with the notice hereinafter set forth; WHEREAS, in connection with the Certificates, the City Council intends to publish notice of its intent to issue the Certificates (the "Notice") in a newspaper of general circulation in the City; and WHEREAS, for purposes of providing for the sale of the Certificates, the City Council intends to authorize the preparation of a Preliminary Official Statement (the "Preliminary Official Statement") to be used in the public offering of the Certificates; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: Section 1. Preamble. The facts and recitations contained in the preamble of this Resolution are hereby found and declared to be true and correct. Section 2. Authorization of Notice. The City Secretary is hereby authorized and directed to deliver the Notice, in the form set forth in Exhibit A hereto, and to publish such Notice on behalf of the City 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 at least thirty-one (31) days before the date tentatively set in the Notice for the passage of the ordinance authorizing the issuance of the Certificates. Notwithstanding any other provision of this Resolution, the Mayor and City Manager are each hereby authorized to make or approve such revisions, additions, deletions, and variations to the Notice as, in the judgment of the Mayor and/or City Manager and in the opinion of Bond Counsel to the City, may be necessary HOU:3579976.1