Res 083-2000 6/20/2000RESOLUTION NO.
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the City deems it advisable to give notice of intention to issue one or
more series of Certificates of Obligation in the maximum principal amount of $7,000,000
for paying all or a portion of the City's contractual obligations for permanent public
improvements to the Multi- purpose Event Center for the coliseum project; and
WHEREAS, it is hereby officially found and determined that the meeting at which
this Resolution was passed 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, TEXAS, THAT:
SECTION 1. Attached hereto is a form of the Notice of Intention to issue
Certificates of Obligation, the form and substance of which is hereby adopted and
approved.
SECTION 2. That the City Clerk shall cause said notice to be published in
substantially the form attached hereto, in a newspaper of general circulation in said
City, and published in said City, on the same day in each of two consecutive weeks, the
date of the first publication thereof to be at least 14 days prior to the time set for the first
reading of the ordinance authorizing the issuance of such certificates of obligation as
shown in said notice.
SECTION 3. That the City's financial advisor, Sentry Management, and its
Bond Counsel, McCall, Parkhurst & Horton L.L.P., are hereby authorized and directed
to prepare documentation necessary for the issuance of the Certificates of Obligation,
including all ordinances, resolutions and offering documents required for the issuance
of the Certificates of Obligation, and to make other appropriate arrangements in
connection with the sale of the Certificates of Obligation, including qualifying the
Certificates for bond insurance, seeking one or more investment ratings for the
Certificates and preparing materials for the sale of the Certificates of Obligation.
SECTION 4. That this Resolution shall become effective immediately upon
adoption.
PASSED AND APPROVED this the 20th day of June 2000.
ATTEST:
City Clerk
MAYOR
CITY OF WICHITA FALLS
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION
The City of Wichita Falls does hereby given notice of intention to issue one or more
series of Combination Tax and Revenue Certificates of Obligation, in the maximum
principal amount not to exceed $7,000,000 for paying all or a portion of the City's
contractual obligations for permanent public improvements to the Multi- Purpose Event
Center for the coliseum project and for the payment of legal, fiscal and engineering fees
in connection with this project. The City proposes to adopt an ordinance providing that
the Certificates of Obligation shall be secured by a pledge of funds received from the
levy and collection of ad valorem taxes in the City as provided by law, and from a
pledge of the undesignated surplus City Revenues from the City's portion of the net
revenues of the Multi- Purpose Event Center remaining after payment of all operation
and maintenance expenses thereof, and all debt service, reserve, and other
requirements in connection with any of the City's revenue bonds or other obligations
(now or hereafter outstanding), which are payable from all or any part of the City's
interest in the net revenues of the Multi- Purpose Event Center. The City Council
intends to consider for passage an Ordinance authorizing the issuance of Combination
Tax and Revenue Certificates of Obligation, at the City Hall, 1300 7th Street, Wichita
Falls, Texas, at a meeting to be held August 1, 2000.
City of Wichita Falls
Mayor