Res 2015-090/directing publication of Notice of Intention to issue Certificates of Obligation

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RESOLUTION NO. 2015 -90R 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 deem s 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 tle public and public notice of the tinE, place and subject of said n -reting was given, all as requires by Tex. Govt 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 defi ned in Te x. Gov't Code Ann. §2051.044, of general circulation in the area of said City, one e a week for two consecutive weeks, the date of the first publication thereof to be before the 30th da y before the date tentatively set f or passage of the ordinance authorizing the issuance of such certificates. Section 3. Ef fective Date. This Resolution shall becom e effective immediately upon adoption. The Mayor and City Clerk are hereby authorized and directed to execute this Resolution on behalf of the City andto 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 (1) one -tenth of one percent of the principal am ount 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 Finace 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 Governm ent Code. The appropriate member of the City's staff is hereby instructed to take the necessary measures to make this payment. The City is alsoauthorized to reimburse the appropriate City funds for such payrrrnt from proceeds of the certificates of obligation. [Execution Page Follows] San Marcos. 15.lntcnt Resolution