26-004 ResolutionRESOLUTION NO. 26-004
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, extending and equipping the
City's combined waterworks and sewer system, including the purchase of land and rights -of -way
therefor, (2) 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 acquisition of land, equipment 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 $14,000,000 for the purpose of paying contractual
obligations to be incurred for (1) constructing, improving, extending and equipping the City's
combined waterworks and sewer system, including the purchase of land and rights -of -way
therefor, (2) 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 acquisition of land, equipment 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.
301798174.2/1001380828
PASSED AND ADOPTED, this February 17, 2026
CITY OF SOUTHLAKE, TEXAS
Mayor
ATTEST:
qCi&crZetaG-
301798174/1001380828
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 April 21, 2026, 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 FOURTEEN MILLION
DOLLARS ($14,000,000) for the purpose of paying contractual obligations to be incurred for
(1) constructing, improving, extending and equipping the City's combined waterworks and sewer
system, including the purchase of land and rights -of -way therefor, (2) 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 acquisition of land, equipment 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 $61,860,000; (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 $72,948,973; (iii) the estimated combined principal
and interest required to pay the certificates of obligation to be authorized on time and in full is
$22,353,594; (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, 2046. 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
301798174.2/1001380828
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS §
COUNTY OF TARRANT AND DENTON §
CITY OF SOUTHLAKE §
I, the undersigned, City Secretary of the City of Southlake, Texas, DO HEREBY CERTIFY
as follows:
1. On the 17th day of February, 2026, a regular meeting of the City Council of the City
of Southlake, Texas was held at a meeting place in the City; the duly constituted members of the
Council being as follows:
SHAWN McCASKILL
RANDY WILLIAMSON
KATHY TALLEY
RANDY ROBBINS
FRANCES SCHARLI
AUSTIN REYNOLDS
CHUCK TAGGART
MAYOR
MAYOR PRO TEM
DEPUTY MAYOR PRO TEM
COUNCIL MEMBERS
and all of said persons were present at said meeting, except the following:
Among other business considered at said meeting, the attached resolution entitled:
"RESOLUTION NO. 26-004
A RESOLUTION approving and authorizing publication of notice of intention to
issue certificates of obligation."
was introduced and submitted to the Council for passage and adoption. After presentation and
due consideration of the resolution, and upon a motion being made and seconded, the resolution
was finally passed and adopted by the Council to be effective immediately by the following vote:
I voted "For" _Q_ voted "Against" _Q_ abstained
all as shown in the official minutes of the Council for the meeting held on the aforesaid date.
2. The attached resolution is a true and correct copy of the original on file in the official
records of the City; the duly qualified and acting members of the City Council of said City on the
date of the aforesaid meeting are those persons shown above and, according to the records of
my office, advance notice of the time, place and purpose of the meeting was given to each
member of the Council; and that said meeting and the deliberation of the aforesaid public business
was open to the public and written notice of said meeting, including the subject of the above
entitled resolution, was posted and given in advance thereof in compliance with the provisions of
Texas Government Code, Chapter 551, as amended.
301907310.2/ 100138082 8
IN WITNESS WHEREOF, I have hereunto signed my name officially and affixed the seal
of said City, this the 17th day of February, 2026.
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