CC Resolution No. 2525RESOLUTION NO. 2525
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION; AND PROVIDING FOR THE
EFFECTIVE DATE THEREOF.
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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 desires to approve the preparation of a term sheet 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, 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 sixty (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, the Treasurer and other appropriate officials of the
City, the City's financial advisor, Hilltop Securities Inc., and bond counsel, Bracewell LLP, are
authorized and directed to proceed with the preparation of the term sheet for the Certificates and
to make other necessary arrangements for the sale of the Certificates at a future meeting of the
City Council of the City.
Section 6. The Mayor, the Finance Director, Treasurer, 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.
INTRODUCED, READ and PASSED by the affirmative v of the City Council of the
City of Baytown, Texas this 28th day of June, 2018.
S PHEN H. DONCARLOS, Ma or
ATTEST:
LE ICIA BRYSCH, City Jerk
APPROVED AS TO FORM:
KAREN L. HORNER, First Assistant City Attorney
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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 in the City Council Chambers at City Hall, 2401 Market Street, Baytown,
Texas, 77520, at 6:30 p.m. on the 9a' day of August, 2018, 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 eight million and no/100 dollars ($8,000,000), 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 fifteen (15) 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 public safety facilities,
including the City's fire training facility; and (ii) costs of professional services incurred in
connection therewith.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 28th day of
June, 2018.
Leticia Brysch
City Clerk
City of Baytown, Texas
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