Res 2014-045/Directing publication of notice of intention to issue certificates of obligation

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RESOLUTION NO. 2014-45R A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION; AND OTHER MATTERS RELATED THERETO WHEREAS, this City Council deems it advisable to give notice of intention to issue certificates of obligation of the City of San Marcos, Texas, as hereinafter provided; and WHEREAS, it is officially found and determined that the meeting at which this resolution has been considered and acted upon was open to the public and public notice of the tune, place and subject of said meeting was given, all as required by Tex. Gov't Code Ann. Ch. 551; Now, Therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: Section 1. Form of Notice. Attached hereto is a form of "Notice of Intention to Issue Certificates of Obligation," the form and substance of which are hereby adopted and approved. Section 2. Publication of Notice. Said Notice shall be published, in substantially the form attached hereto, in a newspaper, as defined in Tex. Gov't Code Ann. §2051.044, of general circulation in the area of said City, once a week for two consecutive weeks, the date of the first publication thereof to be before the 30th day before the date tentatively set for passage of the ordinance authorizing the issuance of such certificates. Section 3. Effective Date. This Resolution shall become effective immediately upon adoption. The Mayor and City Clerk are hereby authorized and directed to execute this Resolution on behalf of the City and to do any and all things proper and necessary to carry out the intent of this Resolution. Section 4. Attorney General Fee. The City Council hereby authorizes the disbursement of a fee equal to the lesser of (i) one -tenth of one percent of the principal amount of each series of obligations being issued or (ii) $9,500 for each series, provided that such fee shall not be less than $750, to the Attorney General of Texas Public Finance Division for payment of the examination fee charged by the State of Texas for the Attorney General's review and approval of public securities and credit agreements, as required by Section 1202.004 of the Texas Government Code. The appropriate member of the City's staff is hereby instructed to take the necessary measures to make this payment. The City is also authorized to reimburse the appropriate City funds for such payment from proceeds of the certificates of obligation. [Execution Page Follows] SanMarcos,14.Intent Resolution