Resolution 2020-61tRESOLUTION NO.2020-61(R)
A RESOLUTION 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 (the "City") has determined that
certificates of obligation should be issued under and pursuant to the provisions of Texas Local
Government Code, Subchapter C of Chapter 271, as amended, for the purpose of paying
contractual obligations to be incurred for (i) construction, improvement, expansion and equipping
fire -fighting facilities and (ii) professional services rendered in connection with 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 a newspaper of general circulation in the City,
said notice stating (i) the time and place the Council tentatively proposes to pass the ordinance
authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued,
(iii) the purposes for which the certificates are to be issued and (iv) the manner in which the
Council proposes to pay the certificates;
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 a principal amount not to
exceed the amount set forth in Exhibit A attached hereto for the purpose of paying contractual
obligations to be incurred for (i) construction, improvement, expansion and equipping fire -fighting
facilities and (ii) professional services rendered in connection with such project and the financing
thereof, and such certificates 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 (i) 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 forty-six (46) days prior to the date stated therein for the passage
of the ordinance authorizing the issuance of the certificates of obligation and (ii) posted
continuously on the City's website for at least forty-five (45) days before 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 Texas Government Code, Chapter 551, as amended.
I SECTION 4: This Resolution shall be in force and effect from and after its passage on the
date shown below.
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DULY PASSED AND ADOPTED, by the City Council of the City of Wylie, Texas on '
this the 17th day of November, 2020.
(�2
Matthew Porter, Mayor
ATTEST TO:
Stephanie Storm, City Secretary
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I
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 February 9, 2021, at the Wylie Municipal Complex Council Chambers, 300
Country Club Road, Building 100, Wylie Texas, and, during such meeting, the City Council will
consider the passage of one or more ordinances authorizing the issuance of certificates of
obligation, in one or more series, in a principal amount not to exceed $5,600,000 for the purpose
of paying contractual obligations to be incurred for (i) construction, improvement, expansion and
equipping fire -fighting facilities and (ii) professional services rendered in connection with such
project and the financing thereof, and such certificates shall be payable from ad valorem taxes and
a limited pledge of the net revenues of the City's combined Waterworks and Sewer System. In
accordance with Texas Local Government Code Section 271.049, (i) the current principal amount
of all of the City's outstanding public securities secured by and payable from ad valorem taxes is
$76,870,000; (ii) the current combined principal and interest required to pay all of the City's
outstanding public securities secured by and payable from ad valorem taxes on time and in full is
$93,507,657; (iii) the estimated combined principal and interest required to pay the certificates of
obligation to be authorized on time and in full is $7,235,054.17; (iv) the maximum interest rate for
' the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity
date of the certificates to be authorized is February 15, 2041. The certificates are to be issued, and
this notice is given, under and pursuant to the provisions of Texas Local Government Code,
Subchapter C of Chapter 271, as amended.
The proposed certificates of obligation will be issued without further notice and without
approval of the voters of the City unless a sufficient petition, signed by at least five percent of the
qualified voters of the City, protesting the issuance of the certificates of obligation is filed with the
City Secretary, prior to consideration of this matter by the Wylie City Council at the above time
and date. In the event of the timely filing of a sufficient petition the City Council may not authorize
issuance of the certificates of obligation unless the issuance is first approved at an election ordered,
held and conducted in the manner provided for bond elections under Chapter 1251, Government
Code.
Stephanie Storm
City Secretary
City of Wylie, Texas
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