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13-31 - RCERTIFICATE REGARDING ADOPTION OF RESOLUTION NO. 13-31 THE STATE OF TEXAS COUNTY OF COLLIN TOWN OF PROSPER We, the undersigned officers of the Town, hereby certify as follows: 1. The Town Council of the Town convened in REGULAR MEETING ON THE 14TH DAY OF MAY, 2013, at the Town Hall, and the roll was called of the duly constituted officers and members of the Town Council, to -wit: Ray Smith, Mayor Meigs Miller, Mayor Pro-Tem Kenneth Dugger, Deputy Mayor Pro-Tem Jason Dixon Michael Korbuly Curry Vogelsang, Jr. Danny Wilson Robyn Battle, Town Secretary and all of said persons were present, except the following absentees: , thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION was duly introduced for the consideration of the Town 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 by the following vote: AYES: All members of the Town Council shown present above voted "Aye," except as shown below: NOES: ABSTAIN: 2. That 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 said Town Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the Town 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 Town Council as indicated therein; that each of the officers and members of the Town 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. RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION THE STATE OF TEXAS § COUNTY OF COLLIN § TOWN OF PROSPER § WHEREAS, this Town Council deems it advisable to give notice of intention to issue certificates of obligation of the Town of Prosper, Texas, 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. THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER: 1. Attached hereto is a form of the Notice of Intention to issue Certificates of Obligation, the form and substance of which is hereby adopted and approved. 2. The Town Secretary shall cause said notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the Town, and published in the Town, on the same day in each of two consecutive weeks, the date of the first publication thereof to be at least 30 days prior to the time set for the first reading of the ordinance authorizing the issuance of such certificates of obligation as shown in said notice. 3. This Resolution shall become effective immediately upon adoption. 3. That the Mayor of the Town has approved and hereby approves the aforesaid Resolution; that the Mayor and the Town Secretary of the Town have duly signed said Resolution; and that the Mayor and the Town Secretary of the Town 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 this, the 14th day of May, 2013. X-1 1-41 V Urr%.1k�-VAe79 Town Sec tary Mayor 1 E TOWN OF PROSPER, TEXAS NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION The Town of Prosper does hereby give notice of intention to issue one or more series of Combination Tax and Revenue Certificates of Obligation, in the maximum principal amount not to exceed $5,500,000 for paying all or a portion of the Town's contractual obligations incurred in connection with extending, constructing and improving the Town's water system, including constructing improvements to pump stations and extending water lines and paying legal, fiscal, engineering and architectural fees in connection with these projects. The Town proposes to adopt an ordinance that will provide for the Certificates of Obligation to be secured by a pledge of funds received from the levy and collection of ad valorem taxes in the Town, as provided by law, and from a pledge of the surplus net revenues of the Town's water 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 Town have been met, to the extent that such obligations are payable from all or any part of the net revenues of the System. The Town Council intends to consider for passage at a meeting to be held at 6:00 P.M. on June 25, 2013, at the Prosper Municipal Chambers, 108 W. Broadway, Prosper, Texas, an ordinance authorizing the issuance of Combination Tax and Surplus Revenue Certificates of Obligation. TOWN OF PROSPER, TEXAS By: /s/ Rav Smith, Mavor