19-32 - RCERTIFICATE REGARDING ADOPTION OF RESOLUTION
THE STATE OF TEXAS
COUNTIES OF COLLIN AND DENTON
TOWN OF PROSPER
We, the undersigned officers of the Town of Prosper, Texas (the "Town"), hereby certify
as follows:
1. The Town Council of the Town (the "Council") convened in a regular meeting on
May 14, 2019, at the designated meeting place, and the roll was called of the duly constituted
officers and members of said Council, to wit:
Ray Smith, Mayor
Curry Vogelsang, Jr., Mayor Pro-Tem
Jason Dixon, Deputy Mayor Pro-Tem
Marcus Ray
Craig Andres
Meigs Miller
Jeff Hodges
Robyn Battle, Town Secretary
all of said persons were present except , thus constituting a quorum.
Whereupon, among other business, the following w s 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: O ABSTAIN: Q
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; said
Resolution has been duly recorded in the Council's minutes of said meeting; 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; 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; 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 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 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 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 AND SEALED THIS MAY 14, 2019.
own Secretary, Njayor,
own of Prosper Town of Prosper
j%J11111", OF
(Town Seal) /'
• •"1
00
RESOLUTION NO. 19-32
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION; AND RESOLVING OTHER MATTERS RELATING TO
THE SUBJECT
WHEREAS, the Town Council of the Town of Prosper, Texas (the "Town"), deems it
advisable to give notice of intention to issue certificates of obligation of the Town (the "Certificates
of Obligation"), as hereinafter provided; 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, as amended;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS:
Section 1. Attached hereto and marked Exhibit A is the form of Notice of Intention to
Issue Certificates of Obligation of the Town (the "Notice"), the form and substance of which are
hereby passed and approved.
Section 2. The Town Secretary shall cause the Notice to be published in substantially the
form attached hereto, in a newspaper of general circulation in the Town, once a week for two
consecutive weeks, with the date of the first publication thereof to be no later than the 3 1 " day
prior to the date set for the adoption of the ordinance or ordinances authorizing the issuance of
such Certificates of Obligation as shown in the Notice.
Section 3. This Resolution shall be effective immediately upon adoption.
1
Exhibit A
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION OF THE TOWN OF PROSPER, TEXAS
NOTICE IS HEREBY GIVEN that the Town Council of the Town of Prosper, Texas (the
"Town"), at its meeting to commence at 5:45 p.m., on June 25, 2019, at the Prosper Town Hall
Council Chambers, 200 S. Main Street, Prosper, Texas, tentatively proposes to adopt one or more
ordinances authorizing the issuance of interest bearing certificates of obligation, in one or more
series, in a maximum principal amount not to exceed $18,400,000, for paying all or a portion of
the Town's contractual obligations incurred in connection with: (i) acquiring, constructing,
installing and equipping additions, improvements, extensions and equipment for the Town's
waterworks and sewer system (the "System"); (ii) 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; (iii) constructing, improving, extending,
expanding, upgrading and developing parks and recreation facilities, including fields, trails, utility
relocation, landscaping, sidewalks and operational improvements, installation of lighting, the
purchase of any necessary rights -of -way, drainage and other related costs; (iv) designing,
constructing, improving and equipping public safety facilities in the Town, including a police
station and dispatch facility, and the acquisition of land and interests in land as necessary for such
purposes; and (v) paying legal, fiscal, engineering and architectural fees in connection with such
projects. The Town proposes to provide for the payment of such certificates of obligation from
the levy and collection of ad valorem taxes in the Town as provided by law and from a pledge of
the surplus revenues of 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 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.
TOWN OF PROSPER, TEXAS
By: /s/ Ray Smith, Mayor