R-2016-20 authorizing publication of a notice of Intention to Issue Certificate of Obligation

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RESOLUTION NO. 2016-20 RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION STATE OF TEXAS § COUNTY OF HARRIS § CITY OF LA PORTE § WHEREAS, the City Council (the "City Council") of the City of La Porte, Texas (the "City") 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 $10,635,000 styled "City of La Porte, Texas, Combination Tax and Surplus Revenue Certificates of Obligation, Series 2017" (the "Certificates") pursuant Subchapter C of Chapter 271, Texas Local Government Code, in accordance with the notice hereinafter set forth; 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 or convenient to carry out or assist in carrying out the purposes of this Resolution, or as may be required for approval of the Certificates by the Attorney General of Texas; provided, however, that any change to the Notice resulting in material substantive amendments shall be subject to the prior approval of City Council. Section 3. Authorization of Other Matters Relating Thereto. The Mayor, City Secretary and other officers and agents of the City are hereby authorized and directed to do any and all things necessary or desirable to carry out the provisions of this Resolution. Section 4. Effective Date. This Resolution shall take effect immediately upon its passage. HOU:3738151.1