RES 2014-07TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2014-07
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
TROPHY CLUB, TEXAS REPEALING RESOLUTION NO. 2014-
05 AND ADOPTING THIS RESOLUTION RELATING TO THE
GIVING OF NOTICE OF INTENTION TO ISSUE TOWN OF
TROPHY CLUB, TEXAS COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2014; PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club, Texas (the "Town"), pursuant to Chapter
271, Subchapter C, Texas Local Government Code, as amended, is authorized to issue
its certificates of obligation for the purpose of paying contractual obligations to be
incurred for the purposes set forth below; and
WHEREAS, the Town Council of the Town has found and determined that a
notice of intention to issue certificates of obligation should be published in accordance
with the requirements of applicable law; and
WHEREAS, on February 17, 2014 the Town Council previously approved and
adopted Resolution No. 2014-05 relating to the giving of notice for the issuance by the
Town of certificates of obligation; and
WHEREAS, the Town Council now desires to repeal Resolution No. 2014-05 and
to adopt this Resolution in order to amend the project description, the amount, and the
sale date of the certificates of obligation for Combination Tax And Revenue Certificates
Of Obligation, Series 2014;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS, THAT:
Section 1. The findings and determinations set forth in the preambles hereto
are hereby incorporated by reference for all purposes.
Section 2. Exhibit A to Resolution No. 2014-05 passed by the Town Council
on February 17, 2014 is hereby repealed and replaced in its entirety by the following:
NOTICE OF INTENTION TO ISSUE TOWN OF TROPHY CLUB, TEXAS
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION,
SERIES 2014
NOTICE IS HEREBY GIVEN that on April 7th, 2014, the Town Council of the
Town of Trophy Club, Texas, at 6:00 p.m. at a regular meeting of the Town Council to
be held in the Council Chambers at the Trophy Club Municipal Building, 100 Municipal
Drive, Trophy Club, Texas 76262, the regular meeting place of the Town Council,
intends to pass an ordinance authorizing the issuance of not to exceed $2,500,000
principal amount of Certificates of Obligation (excluding premium) for the purpose of
paying contractual obligations to be incurred for the following purposes, to wit: (a)
purchasing land for a joint police and town hall facility; (the "Project"); and (b) paying
professional services of attorneys, financial advisors and other professionals in
connection with the Project and the issuance of the Certificates. The Certificates shall
be issued in one or more series, shall bear interest at a rate not to exceed fifteen
percent (15%) per annum, and shall have a maximum maturity date of not later than
forty (40) years after their date. Said Certificates shall be payable from the levy of a
direct and continuing ad valorem tax against all taxable property within the Town
sufficient to pay the interest on this series of Certificates as due and to provide for the
payment of the principal thereof as the same matures, as authorized by Chapter 271,
Subchapter C, Texas Local Government Code, as amended, and from all or a part of
the surplus revenues of the Town's municipal drainage utility system, such pledge of
surplus revenues being limited to $1,000.
THIS NOTICE is given in accordance with law and as directed by the Town
Council of the Town of Trophy Club, Texas.
GIVEN THIS February 26, 2014
/s/ Tammy Ard, Town Secretary
Town of Trophy Club, Texas
Section 3. The Town Secretary of the Town is hereby authorized and directed
to issue a notice of intention to issue certificates of obligation in substantially the form
set forth in Section 2, and the revised Exhibit A, herein.
Section 4. The foregoing notice shall be published once a week for two
consecutive weeks, the date of the first publication being before the thirtieth (30th) day
prior to the date set forth in the foregoing notice for passage of the ordinance
authorizing the Combination Tax and Revenue Certificates of Obligation. Such notice
shall be published in a newspaper of general circulation in the area of the Town of
Trophy Club, Texas.
Section 5. That this resolution shall take effect from and after the date of its
.. — M
PASSED, APPROVED AND EFFECTIVE this 26th day of February, 2014.
Mgy-& -C 0-nnie Wtiiite
Town of Trophy Club, Texas
RES 2014-07
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0
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APPROVED AS TO FORM:
1 1
i 1 • 1 `�..�s_`��i.W1i� t�
Adams,Patricia A. rAttorney
Town of r •Club,
RES 2014-47
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