22-012 RESOLUTION NO. 22-012
A RESOLUTION approving and authorizing publication of notice of intention to issue
certificates of obligation.
WHEREAS, the City Council of the City of Southlake, 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 (1) constructing, improving and renovating streets,
alleys, culverts and bridges, including drainage and erosion control, landscaping, screening walls,
curbs, gutters, sidewalks, lighting, signage and traffic signalization incidental thereto and the
purchase of land and rights-of-way therefor, (2) improving and extending the City's combined
Waterworks and Sewer System, including the purchase of land and rights-of-way therefor and
(3) professional services rendered in connection therewith; 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 City 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 City
Council proposes to pay the certificates;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS:
SECTION 1. That the City Secretary is hereby authorized and directed to cause notice
to be published of the City Council's intention to issue certificates of obligation, in one or more
series, in the principal amount not to exceed $9,600,000 for the purpose of paying contractual
obligations to be incurred for (1) constructing, improving and renovating streets, alleys, culverts
and bridges, including drainage and erosion control, landscaping, screening walls, curbs, gutters,
sidewalks, lighting, signage and traffic signalization incidental thereto and the purchase of land
and rights-of-way therefor, (2) improving and extending the City's combined Waterworks and
Sewer System, including the purchase of land and rights-of-way therefor and (3) professional
services rendered in connection therewith. 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. That 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. That 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.
SECTION 4. That this Resolution shall become effective immediately from and after its
passage.
105908671.1/1001208342
PASSED AND ADOPTED, this April 19, 2022
CITY OF SOUTHLAKE, TEXAS
May
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105908671.1/1001208342
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF SOUTHLAKE, TEXAS CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Southlake, Texas, shall convene at
6:00 p.m. on June 7, 2022, at City Hall, 1400 Main Street, Southlake, 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 NINE MILLION SIX
HUNDRED THOUSAND DOLLARS ($9,600,000) for the purpose of paying contractual
obligations to be incurred for (1) constructing, improving and renovating streets, alleys, culverts
and bridges, including drainage and erosion control, landscaping, screening walls, curbs, gutters,
sidewalks, lighting, signage and traffic signalization incidental thereto and the purchase of land
and rights-of-way therefor, (2) improving and extending the City's combined Waterworks and
Sewer System, including the purchase of land and rights-of-way therefor and (3) professional
services rendered in connection therewith; such certificates of obligation to be payable from ad
valorem taxes and a lien on and 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 $53,717,000; (ii) the current combined principal and
interest required to pay all of the City's outstanding public securities secured by and payable from
ad valorem taxes on time and in full is$ ; (iii)the estimated combined principal and interest
required to pay the certificates of obligation to be authorized on time and in full is $ ; (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 15, 20 . The
certificates of obligation 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.
City Secretary
City of Southlake, Texas
Exhibit A
105908671.1/1001208342