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CC Resolution No. 2411RESOLUTION NO. 2411 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 NOTICES OF SALE; 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 City Council of the City also deems it advisable to issue one or more series of general obligation refunding bonds (the "Refunding Bonds ") for the purpose of refunding certain outstanding obligations of the City in order to achieve debt service savings; and WHEREAS, the City desires to approve the preparation of one or more preliminary official statements (the "Preliminary Official Statements ") and notices of sale ( "Notices of Sale ") in anticipation of its issuance of the Certificates and the Refunding Bonds; NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: The findings, 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 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 which is of general circulation in the City, the date of the first publication to be at least thirty -one (3 1) days before the date tentatively set in the notice for the passage of the ordinance authorizing the issuance of the Certificates. Section 4: The City reasonably expects to reimburse itself for costs that have been or will be paid subsequent to the date that is 60 days prior to the date hereof and that are to be paid in connection with the projects listed in Exhibit A (the "Financed Project ") from proceeds of the Certificates. Section 5: The Finance Director and other appropriate officials of the City, the City's financial advisor, First Southwest Company, and bond counsel, Bracewell LLP, are authorized and directed to proceed with the preparation of the Preliminary Official Statements and the Notices of Sale and to make other necessary arrangements for the sale of the Certificates and Refunding Bonds at a future meeting of the City Council of the City. Section 6. The Mayor, the Finance Director, 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 7. This resolution shall take effect immediately from and after its passage by the City Council of the City. (Signature page follows) #5166409.3 -2- INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of Baytown, Texas this 14th day of April, 2016. Ard&..... S. EP.4W1111/.F ONCARLOS, 'ayor ATTEST: 4 46 ,1 LET I BRYSCH, City C1- APPROVED AS TO FORM: IG ACIO RAMIREZ, SR., it ttomey #5166409.3 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 the 26th day of May, 2016, which is the time and place tentatively set for the passage of an ordinance and such other action as may be deemed necessary to authorize the issuance of the City's certificates of obligation, in the maximum aggregate principal amount not to exceed NINETEEN MILLION AND NO /100 DOLLARS ($19,000,000), 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 of obligation, and maturing over a period not to exceed thirty (30) 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 the (i) construction of improvements to and the equipment of, streets, thoroughfares, sidewalks, and other public ways of the City, including street lighting, streetscape, utility relocation and related storm drainage improvements; and acquiring rights -of -way in connection therewith; (ii) construction of improvements to and the equipment of the City's waterworks and sewer system, and (iii) cost of professional services incurred in connection therewith. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 14th day of April, 2016. (SEAL) FEZ Leticia Brysch City Clerk City of Baytown, Texas • 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: 1. The City Council of the City of Baytown, Texas, convened in a regular meeting on the 12th of March, 2015, 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: Stephen H. DonCarlos Mayor Mercedes Renteria, III Council Member, District 1 Chris Presley Council Member, District 2 Brandon Capetillo Council Member, District 3 Terry Sain Council Member, District 4 Robert C. Hoskins Council Member, District 5 David McCartney Council Member, District 6 and all of said persons were present, except the following absentee(s): flotic thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written RESOLUTION NO.a Li l l 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 NOTICES OF SALE; 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". 0 Member(s) of City Council shown present above voted"No". 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 #5176269.1 • 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 14th day of April, 2016. City Clerk ����� City of Baytown, Texas