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RES 1589 07/14/2020 OF Cy9 �'° C V . r O iiiul1111111111111 T f X P s "City of Choicer" RESOLUTION NO. 1589 RESOLUTION AUTHORIZING PUBLICATION AND POSTING OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION TO FINANCE VARIOUS PUBLIC IMPROVEMENTS WHEREAS, the City Council of the CITY OF CIBOLO, TEXAS (the City) has determined that it is necessary and desirable to design, develop, construct, equip and improve City streets,being improvements to Cibolo Valley Drive (collectively,the Projects); and WHEREAS, the City Council of the City intends to finance the Projects from proceeds derived from the sale of one or more series of Combination Tax and Revenue Certificates of Obligation issued by the City pursuant to Sections 271.041 through 271.064, as amended, Texas Local Government Code; and WHEREAS,pursuant to Section 271.049, as amended, Texas Local Government Code,the City Council deems it advisable to give notice of intention to issue certificates of obligation in an amount not to exceed an aggregate principal amount of$7,500,000 for the purpose of paying, in whole or in part,the costs of the Projects,to pay all or a portion of the legal, fiscal and engineering fees in connection with the Projects, and to pay the costs of issuance related to the certificates of obligation; and WHEREAS, the City Council hereby finds and determines that the adoption of this Resolution is in the best interests of the residents of the City; now, therefore, BE IT RESOL VED B Y THE CITY COUNCIL OF THE CITY OF CIBOLO, TEXAS: SECTION 1. APPROVAL OF NOTICE OF INTENTION. Attached hereto as Exhibit A is a form of the Notice of Intention to Issue Combination Tax and Revenue Certificates of Obligation(the Notice),the form and substance of which is hereby adopted and approved. The City Manager and the City Secretary of the City are each authorized to make changes to the Notice as necessary prior to its publication and posting as described in Sections 3 and 4 below. SECTION 2. DESIGNATION OF SELF-SUPPORTING DEBT. In connection with providing the information contained in the Notice approved in Section 1 above, attached hereto as Exhibit B is a list of outstanding debt obligations of the City which the City hereby designates as self-supporting debt for the purposes of Section 271.049(e), Texas Local Government Code. SECTION 3. PUBLICATION OF NOTICE OF INTENTION IN NEWSPAPER. The City Secretary shall cause the Notice to be published in substantially the form attached hereto in The Seguin Gazette, being a newspaper (as defined by Subchapter C of Chapter 2051, as amended, Government Code)that is hereby found and determined to be of general circulation in the area of the City, on the same day in each of two consecutive weeks, the date of the first publication thereof to be at least 46 days before the date tentatively set for the passage of the ordinance authorizing the issuance of such certificates of obligation as shown in the Notice (the Authorizing Ordinance). SECTION 4. POSTING OF NOTICE OF INTENTION ON CITY'S WEBSITE. The City Secretary shall further cause the Notice to be posted on the City's internet website beginning at least 45 days before, and continuing through, the date tentatively set for the passage of the Authorizing Ordinance, as shown in the Notice. SECTION 5. REVOCATION OF CONLICTING ACTION. All ordinances and resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions of this Resolution shall be and remain controlling as to the matters resolved herein. SECTION 6. GOVERNING LAW. This Resolution shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. SECTION 7. SEVEABILITY. If any provision of this Resolution or the application thereof to any person or circumstance shall be held to be invalid, the remainder of this Resolution and the application of such provision to other persons and circumstances shall nevertheless be valid, and the City Council hereby declares that this Resolution would have been enacted without such invalid provision. SECTION 8. COMPLIANCE WITH OPEN MEETINGS ACT. 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 Chapter 551, as amended, Texas Government Code. SECTION 9. INCORPORATION OF RECITALS. The City Council hereby finds that the statements set forth in the recitals of this Resolution are true and correct, and the City Council hereby incorporates such recitals as a part of this Resolution. SECTION 10. EFFECTIVE DATE. This Resolution shall become effective immediately upon passage. [The remainder of this page intentionally left blank] PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF CIBOLO, TEXAS AT A REGULAR MEETING HELD ON THE 14"DAY OF JULY,2020. Stosh Boyl ayor City of Cibolo Attest: Peggy Cimics, TRMC, City Secretary City of Cibolo Signature Page to Notice of Intention Resolution Relating to City of Cibolo,Texas Combination Tax and Revenue Certificates of Obligation,Series 2020 EXHIBIT A CITY OF CIBOLO,TEXAS NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION The City Council of the City of Cibolo, Texas (the "City") does hereby give notice of intention to issue one or more series of City of Cibolo, Texas Combination Tax and Revenue Certificates of Obligation (the "Certificates") in the maximum aggregate principal amount not to exceed $7,500,000 for the purpose of paying, in whole or in part, contractual obligations to design, develop, construct, equip and improve City streets, being improvements to Cibolo Valley Drive (collectively,the"Projects"),and for paying all or a portion of the legal,fiscal and engineering fees in connection with the Projects and the costs of issuance related to such Certificates. The City proposes to provide for the payment of such Certificates from the levy and collection of ad valorem taxes in the City as provided by law and from a lien on and pledge of certain revenues received by the City from the ownership and operation of the City's utility system. The current principal of all currently outstanding debt obligations of the City is $ , the combined principal and interest required to pay all currently outstanding debt obligations of the City on time and in full is $ , the estimated combined principal and interest required to pay the proposed Certificates on time and in full is $ , the estimated interest rate for the Certificates is _% per annum, and the maximum maturity date of the proposed Certificates is , 20_. (The prior statements regarding currently outstanding debt obligations of the City do not include debt that the City has designated as self-supporting and payable from revenues other than ad valorem taxes.For more information regarding the debt designated as self-supporting, please contact the City's Finance Director.) The City Council proposes to authorize the issuance of such Certificates at 6:30 p.m. on , 2020, at a Regular Meeting, at City Hall, Cibolo, Texas. The Certificates are to be issued, and this notice is given, under and pursuant to the provisions of the Certificate of Obligation Act of 1971 (Sections 271.041 through 271.064, as amended Texas Local Government Code), Chapter 1502, as amended, Texas Government Code, and the City's Home Rule Charter. /s/Peggy Cimics City Secretary City of Cibolo, Texas EXHIBIT B Outstanding Amount Designated Title of Obligation Principal Amount($) as Self-Supporting ($) General Obligation Refunding Bonds, Series 2010 95,000 General Obligation Refunding Bonds, Series 2012 1,065,000 General Obligation Bonds, Series 2013 6,025,000 . General Obligation Bonds, Series 2014 2,195,000 General Obligation& Refunding Bonds, Series 7,930,00 2015 General Obligation Bonds, Series 2016 2,890,000 Combination Tax&Limited Pledge Revenue 1,685,000 Certificates of Obligation, Taxable Series 2017 General Obligation Refunding Bonds, Series 2017 7,330,000 General Obligation Bonds, Series 2018 3,260,000 Combination Tax&Limited pledge Revenue 5,810,000 Certificates of Obligation, Series 2019 TOTALS 52,685,000 CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS § COUNTY OF GUADALUPE § CITY OF CIBOLO § I, the undersigned City Secretary of the CITY OF CIBOLO, TEXAS (the City), hereby certify as follows: 1. The City Council of the City (the City Council) convened in Regular Meeting on July 14, 2020, (the Meeting), and the roll was called of the duly constituted officers and members of the City Council, to wit: Stosh Boyle Mayor Jennifer Schultes Councilmember Steve Quinn Councilmember Reggie Bone Councilmember Ted Gibbs Councilmember Mark Allen Councilmember Tim Wolver Councilmember Joel Hicks Councilmember and all of said officers and members of the City Council were present,except the following absentees: Councilmember Jennifer Schultes , thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a written Resolution No. 1589 (the Resolution) entitled RESOLUTION AUTHORIZING PUBLICATION AND POSTING OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION TO FINANCE VARIOUS PUBLIC IMPROVEMENTS was duly introduced for the consideration of the City Council.It was then duly moved and seconded that the Resolution be adopted; and, after due discussion, said motion carrying with it the adoption of the Resolution,prevailed and carried by the following vote: AYES: 5 NOES: 1 ABSTENTIONS: 0 A true, full and correct copy of the Resolution adopted at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; the Resolution has been duly recorded in the City Council's minutes of the Meeting; the above and foregoing paragraph is a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage of the Resolution; the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the City Council as indicated therein; each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the Meeting, and that the Resolution would be introduced and considered for passage at the Meeting, and each of said officers and members consented, in advance,to the holding of the Meeting for such purpose; and the Meeting was open to the public and public notice of the time,place and purpose of the Meeting was given,all as required by Chapter 551, Texas Government Code. [The remainder of this page intentionally left blank] IN WITNESS WHEREOF,I have signed my name officially and affixed the seal of the City,this 14th day of July,2020. Peggy Cimics, TRMC, City Secretary City of Cibolo, Texas (CITY SEAL)