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HomeMy WebLinkAboutR-2000-07 PLEASE SEE THE MINUTES FOR MARCH 27, 2000 FOR THIS ITEM. e e Resolution 2000-07 RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION WHEREAS, the City Council (the "City Council") of the City of. La Porte, Texas (the "City"), finds that construction and equipment of a public library within the City and the payment of contractual obligations for professional services in connection therewith (to wit: architectural, engineering, financial advisory, and legal) would be beneficial to the inhabitants of the City and such property is needed to perform essential governmental functions, and the City Council has determined that certificates of obligation (the "Certificates of Obligation") should be issued pursuant to the applicable laws of the State of Texas, including Chapter 271, Texas Local Government Code, for such purposes; WHEREAS, prior to the issuance of the Certificates of Obligation, the City Council is required to publish notice of its intention to issue the Certificates of Obligation in a newspaper of general circulation in the City, the notice stating (i) the time and place the City Council tentatively proposes to pass the ordinance authorizing the issuance of the Certificates of Obligation, (ii) the maximum amount of Certificates of Obligation proposed to be issued, (iii) the purposes for which the Certificates of Obligation are to be issued, and (iv) the manner in which the City Council proposes to pay the Certificates of Obligation; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, THAT: SECTION 1. Attached hereto and marked "Exhibit A" is a form of notice, the form and substance of which are hereby adopted and approved. SECTION 2. The Mayor or the City Secretary shall cause the notice to be published, in substantially the form attached hereto, in a newspaper, as defined in Section 2051.044, Texas Government Code, of general circulation in the City for two consecutive weeks, the date of first publication to be at least 14 days prior to the date tentatively set for the ordinance authorizing the issuance of the Certificates of Obligation. SECTION 3. The Mayor and the City Secretary are hereby authorized and directed to execute the Certificate to which this Resolution is attached on behalf of the City Council and to do any or all things proper and necessary to carry out the intent thereof. SECTION 4. The City Council officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the offices of City of La Porte for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times during which this resolution and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. e e PASSED AND APPROVED this the 28th day of February 2000. ATTEST: City of La Porte, Texas Long Range Plan for the General Debt Service Fund Projected 2005-06 Projected 2004-05 Projected 2003-04 Projected 2002-03 Projected 2001-02 Projected 2000-01 Projected 1999-00 Estimated 1998-99 Projected 2007-08 Projected 2006-07 e ,706,203 133,288 711,014 714,210 807,072 132,020 ,089,080 ,923,821 35,000 ,089,114 ,867,787 35,000 ,076,829 ,813,385 35,000 959,678 ,742,734 33,200 150,000 Beginning Working Capital Plus Revenues: Property Taxes - Current Property Taxes - Delinquent Transfer from Golf Fund Transfer from Section 4B 2,297,142 35,000 - 999,038 260,489 110,903 3,702,572 2,230,235 35,000 - ,027,825 254,135 2,165,277 35,000 - ,056,038 2,102,211 35,000 - ,083,675 2,040,982 35,000 - 110,738 ,981,536 35,000 - 137,225 - ,163,138 224,619 70,790 3,417,368 - 799,350 194,750 70,792 2,967,679 - 173,875 190,000 69,994 2,282,254 247,937 46,216 3,550,468 241,890 46,424 3,509,200 235,990 52,460 3,475,170 230,234 73,581 3,457,576 - 191,500 69,289 2,186,723 Industrial Payments nterest Income Total Revenues 73,664 3,620,859 280,407 99,938 - 186,562 186,562 - 193,594 193,594 - 201,406 201,406 - 928,077 209,219 ,137,296 - ,137,513 217,031 ,354,544 - 77,625 - ,215,305 224,844 ,517,774 232,312 82,875 - ,134,297 232,656 ,682,140 246,937 88,125 - ,271,007 240,469 ,846,538 262,547 93,750 464,175 939,778 248,281 2,008,531 79 . ,290 738,953 158,984 2,069,572 Less Outstanding Issues: 1989 GO Bonds 1990 GO Bonds 1991 GO Refunding Bonds 1994 GO Refunding Bonds 1998 GO Bonds Total Outstanding e 271,950 557,538 441,500 726,200 279,525 573,950 453,875 745,600 80 ,400 286,950 590,038 466,000 764,600 819,200 2,926,788 294,225 605,800 477,875 783,200 214,000 2,375,100 301,350 621,238 489,500 801,400 308,325 636,350 500,875 819,200 315,150 651,138 512,000 214,000 321,825 665,600 133,750 87,563 173,875 Issues Less Potential Issues: Potential $3.25 GO Issue in 2000 Potential $6.5 ST Issue in 2000 Potential $5 ST Issue in 2001 Potential $8 GO Issue in 2002 Potential $8 GO Issue in 2005 Total Potential Issues 783,200 2,780,388 2,854,350 - 2,213,488 - 2,264,750 - ,692,288 - 121.175 - 261,438 2,966,950 3,047,944 3,128,194 3,512,396 3,568,032 3,782,524 3,374,428 2,967,713 2,269,969 2,069,572 Total Outstanding & Potential Issues 2,441,825 ,706,203 133,288 711,014 714,210 807,072 132,020 ,089,080 ,089,114 ,076,829 Ending Working Capital 0.14 300 0.14 204 0.14 132 0.14 74 0.14 73 0.14 78 0.14 122 0.14 34 0.14 175 0.14 190 Estimated Tax Rate Working Capital Days of e e EXHIBIT A NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE is hereby given that it is the intention of the City Council (the "City Council") of the City of La Porte, Texas (the "City") to adopt an Ordinance providing for the issuance of interest-bearing obligations of the City presently contemplated to be designated and known as the "CITY OF LA PORTE, TEXAS CERTIFICATES OF OBLIGATION, SERIES 2000" (the "Certificates of Obligation") for the purpose of providing financing for construction and equipment of a public library within the City and of the payment of contractual obligations for professional services in connection therewith (to wit: architectural. engineering, financial advisory, and legal). The City Council tentatively proposes to authorize the issuance of the Certificates of Obligation at its regular meeting place in the City Hall, La Porte. Texas, at a meeting of the City Council to be commenced at 6:00 p.m.. on the 27th day of March, 2000. in an amount expected not to exceed $3,000,000. The City Council proposes to provide for payment of the Certificates of Obligation from a pledge of an annual ad valorem tax and not to exceed $1.000 ofthe revenues of the City's park and recreation system. /s/ Norman Malone Mayor, City of La Porte, Texas e e (Please attach newspaper clippings here.) AFFIDA VIT OF PUBLICATION THE STAlE OF TEXAS ~ COUNTY OF HARRIS ~ BEFORE ME, the undersigned authority, oil this day, personally appeared . ,an authorized officer or employee of the BAYSHORE SUN (the "Newspaper"), who being by me duly sworn, upon oath, deposes and says: The attached clippings of a NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION were published in the Newspaper on , 2000 and , 2000, and the attached newspaper cJippings are true and correct copies of said published notice. The Newspaper meets the qualifications set out in Section 2051.044, Texas Government Code, as follows: 1. The Newspaper devotes not less than 25% of its total column lineage to general interest items; 2. Is published at least once a week; 3. Is entered as second-class postal matter in Harris County where published; and 4. Has been published regularly and continuously for at least 12 months before March I, 2000. By: Authorized Officer or Employee 2000. SWORN TO AND SUBSCRIBED BEFORE ME, this day of Notary Public State of Texas (NOTARY SEAL) e e AKIN, GUMP. STRAUSS, HAUER & FELD, L.L.P. ATTORNEYS AT LAW AUSTIN BRUSSELS DALLAS HOUSTON LONDON LOS ANGELES MOSCOW NEW YORK PHILADELPHIA WASHINGTON, D.C. A REGISTERED LIMITED LIABIUTY PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS 300 CONVENT STREET SUITE 1500 SAN ANTONIO, TEXAS 78205 (210) 281-7000 FAX (210) 224-2035 Direct Dial: 12101 281-7004 February 23, 2000 Mr. Jeff Litchfield City of La Porte 604 West Fairmont La Porte, TX 77571 Re: City of La Porte, Texas Certificates of Obligation, Series 2000 Dear Jeff: Enclosed are the following documents: . 1. Six copies of the Certificate for Resolution. Please fill in the information on one copy, and we will complete the others here. 2. Three copies of an Affidavit of Publication. Please be sure the newspaper uses this form as it contains information required by the Attorney General's office. Paul will be there for the meeting on Monday. Please call if you have any questions. Very truly yours, ~~J Doris M. Alderman Assistant to M. Paul Martin Enclosures CERTIFICATE FOR RESOLUTION .c - .. opv . , or \C1'I.~~ l ~ ~~v'\~ +0 (J. A,J,fv v\\.thv e We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: I. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, How3!d Ebow, Charlie Yount' Deotis Gay, and Peter Griffiths. . All members of the Council were present, except --h..lto..; fhfl-e . constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be fmally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the ResQlution prevailed and carried by the following vote: YEs:L NOES:_ ABSTENTIONS:_. , 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the. Meeting was given, all as required by Chapter 551, Texas Government Code, as lPllended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TInS ~OvJldU{) City Secretary City of La Porte, Texas ~M ~A ayor City of La Porte, Texas (CITY SEAL) e e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except -Al...\-O'" l'or.f-er , constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES:~ NOES:~ ABSTENTIONS:~. 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TInS February 28, 2000. ~a.. a. .J4~ Ci Secretary City of La Porte, Texas <bt~~~ City of La Porte, Texas (CITY SEAL) e e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except , constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES: NOES: ABSTENTIONS:_. 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TIllS February 28, 2000. ~o.., a. .)4JLJQ). City ecretary City of La Porte, Texas ~-- ~ -7f7&L /~ City of La Porte, Texas (CITY SEAL) e e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except , constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES: NOES: ABSTENTIONS:_. 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members ofthe Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED THIS February 28, 2000. Ity ecretary City of La Porte, Texas ~///(~ City of La Porte, Texas (CITY SEAL) . e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: I. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Norman Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except , constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHO~ZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES: NOES: ABSTENTIONS:_. 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED THIS February 28, 2000. City ecretary City of La Porte, Texas b~? M or City of La Porte, Texas (CITY SEAL) e e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except , constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES:_ NOES: ABSTENTIONS: . 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TIllS February 28, 2000. ;L~~f-~ ~ City of La Porte, Texas (CITY SEAL) e e CERTIFICATE FOR RESOLUTION We, the undersigned Mayor and City Secretary of the City of La Porte, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened in regular session, open to the public, on February 28, 2000, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Nonnan Malone, Mayor, and the following City Councilmembers: Chuck Engelken, Alton Porter, Guy Sutherland, Edward Clarke, Howard Ebow, Charlie Young, Deotis Gay, and Peter Griffiths. All members of the Council were present, except . constituting a quorum. Whereupon among other business, the following was transacted at the Meeting: a written resolution entitled RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION (the "Resolution") was duly introduced for the consideration of the Council and read in full. It was then duly moved and seconded that the Resolution be finally passed and adopted; and after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the following vote: YES:_ NOES: ABSTENTIONS: . 2. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. Martha Gillett is the duly appointed and acting City Secretary of the City. SIGNED AND SEALED TIllS February 28, 2000. . ~o.. () J4dM., City ecretary City of La Porte, Texas ~ a)' r City of La Porte, Texas (CITY SEAL)