Res 2006-174 - Laserfiche WebLink

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I I I 2006- 17 4R A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, RELATING TO TIMING OF THE ISSUANCE OF CERTIFICATES OF OBLIGATION WHEREAS, by resolution adopted on August 15, 2006, this City Council directed publication of notice of its intention to issue one or more series of certificates of obligation of the City of San Marcos, Texas (the "City"), not to exceed $23,000,000 in principal amount for the purpose of paying contractual obligations to be incurred for the public purpose of paying contractual obligations incurred or to be incurred for: (1) constructing, acquiring and equipping a conference center facility and related improvements including parking facilities and utility and infrastructure improvements to be located in the vicinity of the northeast side of the intersection of McCarty Lane and IH-35; (2) capitalizing interest on the certificates of obligation and (3) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation (the "Certificates"), at its meeting to commence at 7:00 P.M. on September 19,2006; WHEREAS, this City Council postponed the date and time at which it proposed to issue such Certificates to October 17, 2006; and WHEREAS, in order to allow additional time to review the construction numbers related to the conference center project, the City Council has determined that it is necessary and proper to conclude the process of issuing the Certificates and the City Council will reinstitute notice and other proceedings relating to the issuance of the Certificates once the project schedule is finalized; 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 time, 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. The statements contained in the preamble ofthis resolution are true and correct and are adopted as findings of fact and operative provisions hereof. Section 2. The City Council hereby declares the process of issuing the Certificates concluded and the City Council will reinstitute notice and other proceedings relating to the issuance of the Certificates once the project schedule is finalized. PASSED, APPROVED AND EFFECTIVE this October 17,2006. ~ ATTEST: [CITY SEAL] San Man:os 06A - Resolution - RegiU'ding Timing