Res 1627 10/25/2022 CofO 4.8 -- OF.. C/
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"City of Choice"
RESOLUTION NO. 1627
AUTHORIZING AND APPROVING PUBLICATION AND POSTING OF
NOTICE OF INTENTION TO - ISSUE CITY OF' CIBOLO, TEXAS
COMBINATION TAX AND-- LIMITED - .PLEDGE ' REVENUE
CERTIFICATES OF OBLIGATION IN A MAXIMUM AGGREGATE
PRINCIPAL AMOUNT NOT TO EXCEED $4,800,000 AND PROVIDING
AN EFFECTIVE DATE
WHEREAS, the City Council (the Governing Body):of the City of Cibolo, Texas (the
City) has determined that itis advisable and necessary to.issue and sell one:or more series of
certificates of obligation (the Certificates), the interest on which may or may not be included in
the gross income of the holders thereof for purposes of federal income taxation, in an aggregate
amount not to exceed $4,800,000 as provided pursuant to the provisions of the Certificate of
Obligation Act of 1971, as amended, Texas Local Government.Code, Section 271.041 through
271.064, for the purpose:of paying contractual obligations of the City to be incurred for making
permanent public improvements and for other public purposes, to-wit: (1) designing, acquiring,
constructing,renovating, improving,.equipping,repairing, enlarging, and/or.extending the City's
facilities, including public works and public safety. facilities; as well as necessary capital
maintenance and utilities relocation, drainage, and landscaping necessary or incidental,thereto,
(2) acquiring public works and public safety vehicles, (a) purchasing real property, materials;,
supplies, equipment, information.technology, machinery, landscaping,.Land, and rights of way
for authorized:needs and purposes related to the aforementioned capital improvements,-and (4)
the payment of professional .services I related to the acquisition, design, construction, project
-management, and-financing of the aforementioned projects; and
WHEREAS, prior to the issuance of the Certificates,the Governing Body is required to
publish notice of its intention to issue the Certificates in a newspaper of general circulation and,
if the City maintains an Internet website, post such notice of intention on the City's Internet
website, such notice stating: (i) the time-and place the City Council tentatively proposes to pass
the resolution authorizing the issuance of the. Certificates; (ii) the purposes for which the
Certificates are to be issued; (iii) the manner in which the City Council proposes to pay- the
Certificates; (iv)the then-current principal amount.of all outstanding ad valorem debt obligations
of the City;(v) the-then-current combined principal and interest required to'pay all outstanding
ad valorem debt-obligations of the:City on time and in full, which may be based on the City's
expectations relative to the interest due on any variable rate ad valorem debt obligations; (vi)the
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maximum principal amount:of the Certificates to be authorized; (vii) the estimated interest rate
for the=Certificates to be authorized or that the maximum interest rate for the Certificates may not
exceed the maximum;legal interest rate; and(viii)the maximum maturity date of the Certificates
to be authorized; and
WHEREAS, the:Governing Body hereby finds and::determines that such documents
pertaining to the sale of the Certificates should be approved; and the City should proceed with
the giving of notice of intention to issue the Certificates in the time, form, and manner provided
by law; and
WHEREAS, the GoverningBody 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 ORDAINED BY THE CITY COUNCIL OF THE CITY OF CIBOLO,
SECTION Li The City Secretary is hereby authorized to cause to be published notice of
the Governing Body's intention to issue the Certificates in one ormore series (the interest on
which on which may or may not be-included in the gross income of the holders -thereof for
purposes of federal income taxation) and in aggregate amount not to exceed $4,800,000-for the
purpose of paying contractual obligations of the City to be incurred-for making.permanent public
improvements and for other public purposes, to-wit: (1) designing, acquiring, constructing,
renovating, improving,;equipping, repairing, enlarging, and/or extending the City's facilities,
including public works and public safety facilities, as well.as necessary capital maintenance and
utilitiesrelocation,drainage,:and landscaping necessary-or incidental thereto,(2)acquiring public
works and public safety vehicles, (3) purchasing real property,.materials, supplies, equipment,
information technology,machinery, landscaping, land, and rights of way,for,authorized needs
and purposes related to the aforementioned capital improvements, and (4) the payment of
professional services related to the acquisition, design, construction, project management, and
financing of the aforementioned projects.- :The Certificates will be payable from the levy of an .
annual ad valorem tax, within the limitations prescribed by law,upon all taxable property within
the City and additionally from a pledge of and lien on certain revenues derived from the operation
of the City's municipally owned combined.utility system. The notice hereby :approved:'and
authorized,to be published shall read substantially in the form and content of Exhibit A.attached .
hereto,.which notice is incorporated Herein by reference as a part of this Resolution for-all
purposes.
SECTION 2. The City Secretary shall.cause thenotice described.in Section: l to be.
published in.a newspaper of general circulation in the City, once a week for two (2) consecutive
weeks; the date of the.first publication shall be at least forty-six(46) days prior;to.the date.stated
therein for.passage of the Resolution authorizing'the issuance of the Certificates. Additionally;
the City-Secretary shall cause the notice described in Section 1 to be posted continuously on the
City':s:website.for at least forty-five (45) days prior to the date stated therein for passage of the
Resolution authorizing the issuance of the Certificates.
SECTION 3. The City Secretary is directed to maintain a copy of this Resolution in the
City's official records in a manner that will allow any member of the general:public to:review
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this Resolution during the normal business hours of the City during the period beginning thirty
(30) days after the adoption hereof and ending on the date of issuance of the Certificates.
SECTION 4: 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 5. This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
SECTION-6. 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 .
Councilhereby declares that this Resolutionwould have been enacted:without such invalid
provision.
SECTION 7. 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 8. 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 9.. This Resolution shall become effective immediately upon passage. . .
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PASSED AND ADOPTED on the 25th day of October, 2022.
CITY.OF CIBOLO, TEXAS
Stosh Boyle
Mayor
ATTEST:
Peggy Ciinics, TRMC
City Secretary
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EXHIBIT A
CITY.OF CIBOLO,TEXAS NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND LIMITED PLEDGE REVENUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that:the City Council of the City of Cibolo,Texas will convene at
its regular.meeting place in the City's Municipal Building at 200 S. Main; Cibolo, Texas 78108 at 6:30.
P.M.,Cibolo,-Texas time,.on January 24,2023 (in the event the City Council will be unable to meet at;the
City Council Chambers,City Hall,the City will post information on its website for attending the meeting
by telephone, teleconference; or.other electronic means as well. as any additional information regarding
the meeting should.-the time, date, or location change), and.during such meeting, the City.-Council will
consider the passage of a Resolution and take such actions as may be deemed_necessaryto authorize the
issuance of one or more series of:certificates of obligation (the interest on which may or may not be
included in the gross income of the holders thereof for purposes of federal income taxation)iri an aggregate
principal amount not to exceed $4,800;000 for the purpose or purposes of paying contractual obligations
of the-City to be incurred for making permanent public improvements and for.other public purposes, to
wit: (1)designing,acquiring,constructing,renovating,.improving,equipping,repairing;enlarging;and/or
extending:the City's facilities, including.public works and public safety facilities,as well as necessary -
capital maintenance and utilities relocation,drainage,and.landscaping necessary or incidental thereto;-(2)
acquiring public=works_ and public safety vehicles, (3) purchasing real property, materials, supplies,
equipment,information technology,machinery, landscaping,land,and rights of way for authorized needs
and purposes related to the aforementioned capital:improvements, and (4) the payment of professional
services related to-.the acquisition; design, construction, project management,- and financing of the
aforementioned projects(collectively,the"Projects"),and for paying all or a portion of the legal,financial
and engineering fees in connection with the Projects and the costs of issuance related to such hereinafter
defined Certificates.Each series of certificates(together,the"Certificates")will be payable from the levy
of an annual ad-valorem tax,within the limitations prescribed by law,upon all taxable property within the
City and, additionally, from a pledge of and lien on certain revenues derived from the operation of the
City's municipally owned combined utility system.. In accordance with Section 271.049, as:amended,
Texas Local Government Code, (i) the current principal,amount of all of the City's outstanding public
securities secured by and:payable from ad valorem taxes is $54,020,000.00;{ii) the, current combined
principal and interest required to pay all of the City's outstandingpublic securities secured by and payable .
from ad valorem taxes on time and in full is $65;204;275.25; (iii) the:estimated:combined.principal and
interest required to pay the.Certificates to be authorized on time and in full is $7,528,500.00; (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 August 1,2043. 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, as amended, Texas Local-Government Code Section 27:1:041 through Section 271.064, and
Chapter.1502,Texas Government Code, as amended,and the City's Home Rule Charter.
/s/Peg_a Cimics
City,-Secretary
City of Cibolo, Texas
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