Resolution 2007-36 RESOLUTION NO. 2007-36
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS APPROVING AND AUTHORIZING
PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION.
WHEREAS, the City Council of the City of Wylie, Texas, has determined that
certificates of obligation should be issued under and pursuant to the provisions of V.T.C.A.,
Local Government Code, Subchapter C of Chapter 271 (the "Act"), for the purpose of paying
contractual obligations to be incurred for (i) the construction of public works, to wit:
constructing and equipping improvements for fire station no. 3, and (ii) professional services
rendered in relation to such project and the financing thereof; and
WHEREAS, prior to the issuance of such certificates, the City Council is required to
publish notice of its intention to issue the same in accordance with the provisions of the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WYLIE, TEXAS:
SECTION 1: The City Secretary is hereby authorized and directed to cause notice to be
published of the Council's intention to issue certificates of obligation in one or more series
during a meeting scheduled to begin at 6:00 o'clock P.M. on the 27th day of November, 2007,
which certificates of obligation shall be issued in a principal amount not to exceed $2,000,000
for the purpose of paying contractual obligations to be incurred for (i) the construction of public
works, to wit: constructing and equipping improvements for fire station no. 3, and (ii)
professional services rendered in relation to such project and the financing thereof; and shall be
payable from ad valorem taxes and a limited pledge of the net revenues of the City's combined
Waterworks and Sewer System. The notice hereby approved and authorized to be published shall
read substantially in the form and content of Exhibit A hereto attached and incorporated herein
by reference as a part of this Resolution for all purposes.
SECTION 2: The City Secretary shall cause the aforesaid notice to be published in a
newspaper of general circulation in the City, once a week for two consecutive weeks, the date of
the first publication to be at least thirty-one (31) days prior to the date stated therein for the
passage of the ordinance authorizing the issuance of the certificates of obligation.
SECTION 3: It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by V.T.C.A., Government Code, Chapter 551, as amended.
SECTION 4: This Resolution shall be in force and effect from and after its passage on the
date shown below.
Resolution No. 2007-36(R)
Notice of Intention to issue
Combination Tax and Revenue
Certificates of Obligation Series 2007B
DULY PASSED AND ADOPTED by the City Council of the City of Wylie, Texas , this
~3ra day of October, 2007.
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Resolution No. 2007-36(R)
Notice of Intention to issue
Combination Tax and Revenue
Certificates of Obligation Series 2007B
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF
WYLIE, TEXAS CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Wylie, Texas, shall convene at 6:00 o'clock
P.M. on the 27th day of November, 2007, at the Wylie Municipal Complex, 2000 State Highway
78 North, Wylie Texas, and, during such meeting, the City Council will consider the passage of
an ordinance authorizing the issuance of certificates of obligation in one or more series in an
amount not to exceed $2,000,000 for the purpose of paying contractual obligations to be incurred
for (i) the construction of public works, to wit: constructing and equipping improvements for fire
sta.tion no. 3, and (ii) professional services rendered in relation to such project and the financing
thereof; such certificates to be payable from ad valorem taxes and a limited pledge of the net
revenues of the City's combined Waterworks and Sewer System. The certificates are to be
issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local
Government Code, Subchapter C of Chapter 271.
Carole Ehrlich
City Secretary
City of Wylie, Texas
75032814.1
Resolution No. 2007-36(R)
Notice of Intention to issue
Combination Tax and Revenue
Certificates of Obligation Series 2007B
TERM SHEET
$2,000,000 Certificates of Obligation
Series 2008
PRINCIPAL AMOUNT OF CERTIFICATES: $2,000,000
PURPOSE: Construction of Fire Station #3
BANK QUALIFIED: No
DATED DATE: December 1, 2007
INTEREST RATE: TBA
W~ TERM: 20 years; level debt service; semi- annual debt service payments.
TAX- EXEMPT INTEREST: Interest will be exempt for federal income taxes
purposes. Opinion to be given by Fulbright & Jaworski.
SECURITY: The loan constitutes a direct obligation of the City, payable from a
direct and continuing ad valorem tax levy.
REDEMTION: The City reserves the right, at its option to redeem the Obligations
in whole or in part at par plus accrued interest without penalty on any Interest
Payment Date
INTEREST PAYMENT DATE: Interest on the loan will be payable February 15
and August 15 of each year; beginning August 15, 2008 and continuing until the
principal has been retired.
PAYMENT OF PRINCIPAL: Principal on the loan will be payable beginning on
February 15, 2009 and payable each February 15 thereafter with the final
principal payment being made on February 15, 2028.
CONTACT INFORMATION: Larry Williamson; Finance Director; City of Wylie,
Texas; (972) 442-8141; farry.williamson@wy(ietexas.gov