RE 2020-0609.2 Directing Publication of Notice of Intention to Issue Certificates of Obligation
CERTIFICATE FOR RESOLUTION NO. 2020-0609.2
THE STATE OF TEXAS
COUNTIES OF DALLAS AND DENTON
CITY OF COPPELL
We, the undersigned officers of the City of Coppell, Texas (the "City"), hereby certify as
follows:
1. The City Council of the City (the "Council") convened in a special meeting on
June 9, 2020, at the designated meeting place, and the roll was called of the duly constituted
officers and members of said Council, to wit:
Karen Selbo Hunt, Mayor Wes Mays
Mark Hill, Mayor Pro Tem Gary Roden
Cliff Long Nancy Yingling
Biju Mathew
Ashley Owens, Deputy City Secretary
and all of said persons were present except Brianna Hinojosa-Smith and, therefore, a quorum
was present. Whereupon, among other business, the following was transacted at said meeting: a
written
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS RELATING TO
THE SUBJECT
was duly introduced for the consideration of the Council. It was then duly moved and seconded
that said Resolution be adopted and, after due discussion, said motion, carrying with it the
adoption of said Resolution, prevailed and carried with all members present voting "AYE"
except the following:
NAY: ABSTAIN:
2. A true, full and correct copy of the aforesaid Resolution adopted at the meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; that
said Resolution has been duly recorded in the Council's minutes of said meeting; that the above
and foregoing paragraph is a true, full and correct excerpt from the Council's minutes of said
meeting pertaining to the adoption of said Resolution; that the persons named in the above and
foregoing paragraph are the duly chosen, qualified and acting officers and members of the
Council as indicated therein; that each of the officers and members of the Council was duly and
sufficiently notified officially and personally, in advance, of the time, place and purpose of the
aforesaid meeting, and that said Resolution would be introduced and considered for adoption at
said meeting, and each of said officers and members consented, in advance, to the holding of
said meeting for such purpose, and that said meeting was open to the public and public notice of
the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas
Government Code.
3. The Council has approved and hereby approves the aforesaid Resolution; and the
Mayor and the City Secretary of the City hereby declare that their signing of this Certificate shall
constitute the signing of the attached and following copy of said Resolution for all purposes.
SIGNED AND SEALED THIS JUNE 9, 2020.
A, ;i/�ii,�.� � � , 1��
hristel Pettinos, City Secret. K: en Se bo Hunt, M:yor
City of Coppell City of Coppell
- (City Seal)
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS
RELATING TO THE SUBJECT
THE STATE OF TEXAS
COUNTIES OF DALLAS AND DENTON
CITY OF COPPELL
WHEREAS, the City Council of the City of Coppell, Texas (the "City"), deems it
advisable to give notice of intention to issue certificates of obligation of the City (the
"Certificates of Obligation"), as hereinafter provided; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was passed was open to the public and public notice of the time, place and purpose of
said meeting was given, all as required by Chapter 551, Texas Government Code;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS:
Section 1. Attached hereto and marked Exhibit A is the form of Notice of Intention to
Issue Certificates of Obligation of the City (the "Notice"), the form and substance of which are
hereby passed and approved.
Section 2. The City Secretary shall cause the Notice, in substantially the form attached
hereto, to be published in a newspaper of general circulation in the City, and published in the
City, once a week for two consecutive weeks, the date of the first publication thereof to be before
th
the 45 day before the date tentatively set for the passage of the ordinance or ordinances
authorizing the issuance of the Certificates of Obligation.
Section 3. The City Secretary shall cause the Notice, in substantially the form attached
hereto, to be posted continuously on the City's Internet website for at least 45 days before the
date tentatively set for the passage of the ordinance or ordinances authorizing the issuance of the
Certificates of Obligation.
Section 4. This Resolution shall be effective immediately upon adoption.
----------------------------------
Exhibit A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
OF THE CITY OF COPPELL, TEXAS
NOTICE IS HEREBY GIVEN that the City Council of the City of Coppell, Texas (the
"City"), at its meeting to commence at 7:30 p.m., on August 11, 2020, at City Hall, 255 Parkway
Boulevard, Coppell, Texas, tentatively proposes to adopt one or more ordinances authorizing the
issuance of interest bearing certificates of obligation, in one or more series, in an amount not to
exceed $33,650,000 for paying all or a portion of the City's contractual obligations incurred in
connection with: (i) constructing and improving streets and roads, including related drainage,
signalization, landscaping, sidewalks, lighting, utility relocation and replacement, bridges,
signage and streetscape improvements; (ii) constructing, acquiring and installing drainage
improvements; (iii) constructing, improving and equipping public safety facilities for the fire
department, including the design, construction, renovation and equipment of fire stations and the
acquisition of land and rights-of-way therefor; (iv) acquiring, constructing, installing and
equipping additions, improvements, extensions and equipment for the City's waterworks and
sewer system; and (v) paying legal, fiscal and engineering fees in connection with such projects.
The City proposes to provide for the payment of such certificates of obligation from the levy and
collection of ad valorem taxes in the City as provided by law and from a limited pledge of the
surplus revenues of the City's waterworks and sewer system (the "System") that remain after
payment of all operation and maintenance expenses thereof, and after all debt service, reserve
and other requirements in connection with all revenue bonds or other obligations (now or
hereafter outstanding) of the City have been met, to the extent that such obligations are payable
from all or any part of the net revenues of the System. The certificates of obligation are to be
issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local
Government Code, Subchapter C of Chapter 271.
The following information is provided to comply with Tex. H.B. 477, 86 Leg., R.S.
(2019). The current principal of all outstanding debt obligations of the City is $85,170,000. The
current combined principal and interest required to pay all outstanding debt obligations of the
City on time and in full is $112,485,325. The maximum principal amount of the certificates to be
authorized is $33,650,000 and the estimated combined principal and interest required to pay the
certificates to be authorized on time and in full is $48,725,000. The maximum interest rate for
the certificates may not exceed the maximum legal interest rate. The maximum maturity date of
the certificates to be authorized is February 1, 2040. The above information does not exclude any
outstanding debt obligations the City has designated as self-supporting and which the City
reasonably expects to pay from revenue sources other than ad valorem taxes.
CITY OF COPPELL, TEXAS