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CC Resolution No. 2559RESOLUTION NO. 2559 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 A PRELIMINARY OFFICIAL STATEMENT AND A NOTICE 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 desires to approve the preparation of a preliminary official statement (the "Preliminary Official Statement") and the preparation of a notice of sale ("Notice of Sale"), 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 60 days prior to the date hereof and that are to be paid in connection with the projects listed in Exhibit "A" from proceeds of the Certificates. Section 5: The Finance Director 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 Preliminary Official Statement and the Notice of Sale, if any, 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, 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 of Baytown, Texas. INTRODUCED, READ AND PASSED by the affirmative vote of the City Council of the City of Baytown, this the 24th day of January, 2019. t u BRANDO CAPETILLO, Mayor ATTEST: LETICIA BRYSCH, City Clerk APPROVED AS TO FORM ACIO RAMIREZ, SR., CLq Attorney 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 Chamber at City Hall, 2401 Market Street, Baytown, Texas, 77520, at 6:30 p.m. on the 28th day of February, 2019, 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 N0/100 DOLLARS ($19,000,000.00), 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 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 the (i) design, development, construction, acquisition and equipment of the City of Baytown convention center facilities and related infrastructure, including surface parking, roadways and water, sewer and drainage infrastructure; and (ii) costs of professional services incurred in connection therewith. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 24th day of January, 2019. Leticia Brysch City Clerk City of Baytown, Texas A-1