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18-32 - RCERTIFICATE REGARDING ADOPTION OF RESOLUTION NO. 18-32 THE STATE OF TEXAS § COUNTIES OF COLLIN AND DENTON § TOWN OF PROSPER § We, the undersigned officers of the Town, hereby certify as follows: 1. The Town Council of the Town of Prosper convened in REGULAR MEETING ON THE 8TH DAY OF MAY, 2018, 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 Curry Vogelsang, Jr., Mayor Pro -Tem Jason Dixon, Deputy Mayor Pro -Tem Michael Korbuly Kenneth Dugger Meigs Miller Jeff Hodges Robyn Battle, Town Secretary and all of said persons were present, except the following absentees: M Id ad ti,(i� , thus constituting a quorum. Whereupon, among other business, the following was transacted t said Meeting: a written RESOLUTION NO. 18-32 BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS RELATING TO THE SUBJECT 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. 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. 3. The Town Council 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 iWOU 404ay of May, 2018. O ra syydop T P1dLd?YV-'ir • BMayor % ••• d� pbDr.rrN•r• i� RESOLUTION NO. 18-32 OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS RELATING TO THE SUBJECT WHEREAS, this Town Council deems it advisable to authorize publication of notice of intent to issue Certificates of Obligation for the purposes hereinafter set forth; WHEREAS, the Town expects to pay expenditures in connection with the design, planning, acquisition and construction of the projects described in "Exhibit A" to this Resolution; and WHEREAS, it is hereby officially found and determined that the meeting at which this Resolution was considered 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 TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS: Section 1. Attached hereto and marked "Exhibit A" is a form of notice, the form and substance of which are hereby passed and approved. Section 2. The Town Secretary shall cause said notice to be published in substantially the form attached hereto, in a newspaper of general circulation in said Town, and published in said Town, once a week for two consecutive weeks, the date of the first publication thereof to be at least 31 days prior to the time set for the issuance of such certificates of obligation as shown in said notice. Section 3. The facilities and improvements to be financed with proceeds from the proposed Certificates of Obligation are to be used for the purposes described in the Notice. Section 4. This Resolution shall be effective immediately upon adoption. EXHIBIT A 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 surplus revenue certificates of obligation (the "Certificates"), in the maximum principal amount not to exceed $23,400,000 for paying all or a portion of the Town's contractual obligations incurred in connection with (i) constructing and equipping a multi-purpose municipal facility to serve as Town Hall and for other municipal services, (ii) constructing and acquiring improvements and equipping the Town's waterworks system, including water distribution lines, elevated storage, pump stations and the purchase of any necessary right-of-way and other related costs, (iii) constructing, improving, extending, expanding, upgrading and developing streets and roads and intersections including, utility relocation, landscaping, sidewalks, traffic safety and operational improvements and the purchase of any necessary right-of-way and other related costs, and (iv) 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 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 26, 2018, at the Prosper Municipal Chamber, 108 W. Broadway, Prosper, Texas, an ordinance authorizing the issuance of Combination Tax and Surplus Revenue Certificates of Obligation. The Certificates 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. TOWN OF PROSPER, TEXAS By: /s/ Ray Smith, Mayor