Res 072-2013 7/16/2013RESOLUTION NO. 72 -2013
RESOLUTION DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO
ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTY OF WICHITA §
CITY OF WICHITA FALLS §
WHEREAS, the City of Wichita Falls (the "City ") deems it advisable to give notice of intention
to issue one or more series of interest bearing certificates of obligation, in the maximum principal amount
of $13,000,000, for paying all or a portion of the City's contractual obligations incurred in connection
with: (i) constructing, installing, acquiring and equipping additions, extensions and improvements to the
City's waterworks and sewer system, and (ii) paying legal, fiscal and engineering fees in connection with
such projects; and
WHEREAS, the City Council hereby finds, considers and declares that the reimbursement of the
payment by the City of such expenditures will be appropriate and consistent with the lawful objectives of
the City and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-
2 of the U.S. Treasury Regulations, to reimburse itself for such payments at such time as it issues the
certificates of obligation; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was considered was open to the public, and public notice of the time, place and purpose of
said meeting was given, all as required by Chapter 551, Texas Government Code.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WICHITA FALLS, THAT:
1. Attached hereto is a form of Notice of Intention to Issue Combination Tax and Revenue
Certificates of Obligation, the form and substance of which is hereby adopted and approved.
2. The City Clerk shall cause said notice to be published in substantially the form attached
hereto, in a newspaper, as defined by Subchapter C, Chapter 2051, Texas Government Code, of general
circulation in the area of said City, once a week for two consecutive weeks, the date of the first
publication thereof to be at least 30 days prior to the date tentatively set for the adoption of the ordinance
authorizing the issuance of such certificates of obligation as shown in said notice.
3. All costs to be reimbursed pursuant to this resolution will be capital expenditures. The
proposed certificates of obligation shall be issued within 18 months of the later of (i) the date the
expenditures are paid or (ii) the date on which the property, with respect to which such expenditures were
made, is placed in service; and the foregoing notwithstanding, the certificates of obligation will not be
issued pursuant to this resolution on a date that is more than three years after the date any expenditure
which is to be reimbursed is paid.
4. This Resolution shall become effective immediately upon its adoption.
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ADOPTED, APPROVED AND EFFECTIVE this 16 °i day of July, 2013
ATTEST:
.4e.f,'46 City Clerk, City of Wichita Falls, Texas
Mayor, City of Wichita Falls, Texas
[CITY SEAL]
Exhibit A
CITY OF WICHITA FALLS, TEXAS
NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Wichita Falls, Texas, at its meeting to
commence at 8:30 a.m. on August 20, 2013, at its regular meeting place in the City Hall, 1300 7`h Street,
Wichita Falls, Texas, tentatively proposes to authorize the issuance of interest bearing certificates of
obligation of the City, in one or more series, in an amount not to exceed $13,000,000, for the purpose of
paying all or a portion of the City's contractual obligations incurred in connection with: (i) constructing,
installing, acquiring and equipping additions, extensions and improvements to the City's waterworks and
sewer system and (ii) paying legal, fiscal and engineering fees in connection with such projects. The City
proposes to provide for the payment of said series (one or more) of such certificates of obligation from a
pledge of ad valorem taxes levied and collected in the City as provided by law and from the surplus
revenues of the City's waterworks and sewer system, remaining after payment of all operation and
maintenance expenses thereof, and all debt service, reserve, and other requirements in connection with all
of the City's revenue bonds or other obligations (now or hereafter outstanding), which are payable from
all or any part of the net revenues of the City's waterworks and sewer system. The ordinance may
authorize an authorized officer of the City to effect the sale and delivery of the certificates of
obligation on a date subsequent to the adoption of the ordinance. The Certificates of Obligation are
to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local
Government Code, Subchapter C of Chapter 271.
CITY OF WICHITA FALLS, TEXAS