CC Resolution No. 2994 RESOLUTION NO. 2994
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION; APPROVING THE
PREPARATION OF ONE OR MORE PRELIMINARY OFFICIAL
STATEMENTS; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the City Council of the City of Baytown, Texas (the "City"), deems it
advisable to issue certificates of obligation (the "Certificates") of the City in accordance with the
notice hereinafter set forth; and
WHEREAS, the issuance of the Certificates for projects that may be treated as self-
supporting from revenue sources other than ad valorem taxes may be financially beneficial to the
City; and
WHEREAS,the City desires to approve the preparation of one or more preliminary official
statements (the "Preliminary Official Statements") and one or more notices of sale (the "Notices
of Sale"), if any, in anticipation of its issuance of the Certificates; NOW, THEREFORE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1. The findings, determinations, definitions and recitations set out in the
preamble to this resolution are found to be true and correct and are hereby adopted by City Council
and made a part hereof for all purposes.
Section 2. The City Clerk is hereby authorized and directed to cause to be published
and posted in the manner required by law and in substantially the form attached hereto as Exhibit
A, a notice of the City's intention to issue the Certificates (the"Notice").
Section 3. The Notice shall be published once a week for two (2) consecutive weeks
in a newspaper that is of general circulation in the City,the date of the first publication to be before
the 451"day before the date tentatively set in the Notice for the passage of the ordinance authorizing
the issuance of the Certificates. In addition, the Notice shall be posted continuously on the City's
website for at least 45 days before the date tentatively set in the Notice for the passage of the
ordinance authorizing the issuance of the Certificates.
Section 4. For purposes of section 1.150-2(d) of the Treasury Regulations, this Notice
serves as the City's official declaration of intent to reimburse itself from proceeds of the
Certificates in the maximum principal amount and for expenditures paid in connection with the
projects, each as set forth in Exhibit A hereof. Any such reimbursement will only be made (i) for
an original expenditure paid no earlier than 60 days prior to the date hereof and (ii) not later than
18 months after the later of(A) the date the original expenditure is paid or(B)the date the project
to which such expenditure relates is placed in service or abandoned, but in no event more than
three years after the date the original expenditure is paid.
-1-
Section 5. For the purposes of the Notice,the City hereby designates as self-supporting
those public securities listed in the attached Exhibit B,the debt service on which the City currently
pays from sources other than ad valorem tax collections. The City plans to continue to pay these
public securities based on this practice; however, there is no guarantee this practice will continue
in future years.
Section 6. The Mayor,the Director of Finance,the City Manager and other appropriate
officials of the City, the City's financial advisor, Hilltop Securities Inc., and the City's bond
counsel, Bracewell LLP, are authorized and directed to proceed with the preparation of one or
more Preliminary Official Statements and Notices of Sale, if any, relating to the sale of the
Certificates and to make other necessary arrangements for the sale of the Certificates at a future
meeting the City Council of the City.
Section 7. The City hereby authorizes the City Manager or the Director of Finance to
approve the final form of and deem final any such Preliminary Official Statements within the
meaning and for the purposes of paragraph (b)(1) of Rule 15c2-12 of the United States Securities
and Exchange Commission.
Section 8. The Mayor, the City Manager, the Director of Finance, the City Clerk, 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 9. This resolution shall take effect immediately from and after its passage by
the City Council of the City of Baytown.
[Remainder of Page Intentionally Left Blank]
-2-
INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the
City of Baytown, Texas this 8th day of May, 2025.
C ARLES J H O , Mayor
ATTEST:
ANGELA 9ACKSON, City Clerk
O�®�,Y'�CtUdN A
U�ee e° oe e�f9
e �
o .
[$E •
°
yn �Sy°ae eee �,
APPROVED AS 0 FORM:
I
SCOTT LE O City Attorney
Signature Page to Resolution No. [ ]
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Baytown, Texas (the
"City"), will meet at City Hall, 2401 Market Street, Baytown, Texas, 77520, at 6:30 p.m. on July
10, 2025, which is the time and place tentatively set for the passage one or more ordinances and
such other action as may be deemed necessary to authorize the issuance, from time to time, of one
or more series of the City's certificates of obligation (the"Certificates") in a maximum aggregate
principal amount not to exceed $83,000,000 payable from ad valorem taxes and from a limited
pledge of a subordinate lien on the net revenues of the City's waterworks and sanitary sewer
system, bearing interest at any rate or rates not to exceed the maximum interest rate now or
hereafter authorized by law, as shall be determined within the discretion of the City Council of the
City at the time of issuance of the Certificates, and maturing over a period not to exceed forty(40)
years from the date of issuance, for the purposes of evidencing the indebtedness of the City for all
or any part of the costs associated with (i) the design, construction, acquisition, equipment and
improvement of a fire station, (ii) the design, construction, acquisition, equipment and
improvement of the City's waterworks and sanitary sewer system, including lift station
improvements, wastewater treatment plant improvements, water meter replacements, and water
and sewer line replacements and rehabilitation, and (iii) the cost of professional services incurred
in connection thereto. The estimated combined principal and interest required to pay the
Certificates on time and in full is approximately $137,832,764. Such estimate is provided for
illustrative purposes only and is based on an assumed interest rate of 4.770 o. Market conditions
affecting interest rates vary based on a number of factors beyond the control of the City, and the
City cannot and does not guarantee a particular interest rate associated with the Certificates. As of
the date of this notice, the aggregate principal amount outstanding of tax-supported debt
obligations of the City (excluding public securities secured by an ad valorem tax but designated
by the City as self-supporting in Resolution No. [ ], dated May 8, 2025, which resolution is
available from the City upon request) is $95,653,186, and based on the City's expectations, as of
the date of this notice the combined principal and interest required to pay all of the outstanding
tax-supported debt obligations of the City (excluding public securities secured by an ad valorem
tax but designated by the City as self-supporting) on time and in full is $127,260,512.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 8th day of May,
2025.
Angela Jackson
City Clerk
City of Baytown, Texas
A-1
EXHIBIT B
SELF-SUPPORTING DEBT
Total Principal Amount Designated as Self-Supporting: $104,236,815
The total principal amount of self-supporting debt is comprised of some or all of the debt from
the following series of obligations:
Series Designation
Combination Tax and Revenue Certificates of Obligation, Series 2014 $ 21,630,000
General Obligation and Refunding Bonds, Series 2014 $ 1,565,136
General Obligation and Refunding Bonds, Series 2015 $ 4,581,252
General Obligation Refunding Bonds, Series 2016 $ 7,090,427
Combination Tax and Revenue Certificates of Obligation, Series 2016 $ 10,960,000
Combination Tax and Revenue Certificates of Obligation, Series 2019 $ 14,450,000
General Obligation Refunding Bonds, Series 2019 $ 1,795,000
General Obligation Refunding Bonds, Series 2019A $ 775,000
Combination Tax and Revenue Certificates of Obligation, Series 2020 $ 7,180,000
General Obligation Refunding Bonds, Series 2020 $ 1,635,000
General Obligation Refunding Bonds, Series 2021A $ 6,795,000
Combination Tax and Revenue Certificates of Obligation, Series 2024 $ 25,780,000
B-1
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS §
COUNTIES OF HARRIS AND CHAMBERS §
I,the undersigned officer of the City Council of the City of Baytown,Texas, hereby certify
as follows:
I. The City Council of the City of Baytown, Texas, convened in a regular meeting on
the 8th day of May, 2025, at the regular meeting place thereof, within said City, and the roll was
called of the duly constituted officers and members of said City Council, to wit:
Charles Johnson Mayor
Laura Alvarado Council Member, District I
Sarah Graham Council Member, District 2
Ken Griffith Council Member, District 3
James Franco Council Member, District 4
Jacob Powell Council Member, District 5
Mike Lester Council Member, District 6
and all of said persons were present,except the following absentee(s): ,thus
constituting a quorum. Whereupon, among other business, the following was transacted at said
meeting: a written
RESOLUTION NO. [ ]
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION; APPROVING THE
PREPARATION OF ONE OR MORE PRELIMINARY OFFICIAL
STATEMENTS; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
was duly introduced for the consideration of said City Council and read in full. It was then duly
moved and seconded that said resolution be adopted; and, after due discussion, said motion,
carrying with it the adoption of said resolution, prevailed and carried by the following vote:
Member(s) of City Council shown present above voted"Aye".
Member(s) of City Council shown present above voted "No".
Member(s) of City Council shown present abstained from voting.
2. A true, full and correct copy of the aforesaid resolution adopted at the meeting
described in the above and foregoing paragraph is attached to and follows this certificate; that said
resolution has been duly recorded in said City Council's minutes of said meeting; that the above
and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said
meeting pertaining to the adoption of said resolution; that the persons named in the above and
foregoing paragraph are the duly chosen, qualified and acting officers and members of said City
Council as indicated therein; that each of the officers and members of said City Council was duly
and sufficiently notified officially and personally, in advance, of the date, hour, place and purpose
of the aforesaid meeting, and that said resolution would be introduced and considered for adoption
at said meeting, and each of said officers and members consented, in advance, to the holding of
said meeting for such purpose; that said meeting was open to the public as required by law; and
that public notice of the date, hour, place and subject of said meeting was given as required by
Chapter 551, Texas Government Code.
SIGNED AND SEALED this 8th day of May, 2025.
City Clerk
[SEAL] City of Baytown, Texas
-2-
0 0 0 0 r, 0 0 O o o to o o o 00 q 9-4
0 O 00 O O O o o Ln o o o o Ln 1n
O O O
V W O C O C O tD O C O N 1.Ln f�
0 o 0 O os 0 o 0 o o 0 o o o 00 I.. I�
O O O O N O O O O in -cT o o o m N
y Ul O 1f1 Ln I- ul Ln ^ -i M N � Ln Ln .-1 N 1�
i.L M d' LN ^ a M m .--I' u'1 .--1 Ol N lf1 N
r-1 rl r-I -4 %0 00
V1
C
W C
_O
W
>
O
3 ( L
(0 �
N
m �
E C C
Vf O
in 0
•� Y h0 O C
J a, m o a W a
C L 04 M a4� 00 a cvii
Y
E l7 4-10 E vv41 C
•W }' O O �o C W u OA ? 4
0 CL °' Q m ,c a c mv 0
Q L 4-1 CO m E E fO Q. W Y W FL-
a c v Q
o2S o2S o v v W v W W o�S
E a a Q ° L W c E m E m u
n '^ " in r' O o o fl W m _
_ ~
H C
C •C C 7 � O L m N
W ^4 'c c .2 W W o L 3 0
C W 3 W , C m a a n; °; o •` a W H
O li v, > $ W W 0 v'Ji O 06 c
i Q _ ++ ++ L N L
(u L W L J 7 'J C C � "O ou v�i V 4
iz (D H- Q ~ J Z W VO
W L
W
� 7Q 3
0 W
t Ln
LL
F 04
L L
C W a1
S m
LL
•
10
ou
0