06-075 - R CERTIFICATE REGARDING ADOPTION OF RESOLUTION
THE STATE OF TEXAS §
COUNTY OF COLLIN §
TOWN OF PROSPER §
We,the undersigned officers of said Town,hereby certify as follows:
1. The Town Council of said Town convened in REGULAR MEETING ON THE 25TH DAY OF
JULY,2006,at the Town Hall,and the roll was called of the duly constituted officers and members of said
Town Council,to-wit:
Charles Niswanger,Mayor
David Bristol,Mayor Pm-tem
Dave Turley
Lisa Dritschler
Kevin Drown
Mike Wadsworth
Matthew Denton,Town Secretary
and all of said persons were present, 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 said 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 said 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 said Town Council as indicated therein;that each of the officers
and members of said 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.That the Mayor of said Town has approved and hereby approves the aforesaid Resolution;that the
Mayor and the Town Secretary of said Town have duly signed said Resolution;and that the Mayor and the
Town Secretary of said 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 25th day of July,2006.
own Secretary Mayor
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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 said Town,and published in said Town,on the same day in
each of two consecutive weeks,the date of the first publication thereof to be at least 14 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.
TOWN OF PROSPER,TEXAS
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND 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$12,000,000,
for paying all or a portion of the Town's contractual obligations incurred in connection with(i)constructing
and improving the Town's water system,including the construction of an elevated water storage tank and
water distribution lines,(ii)acquiring,constructing and equipping municipal park improvements and open
space (iii) constructing and improving roads and streets in the Town and related infrastructure, (iv)
extending,constructing and improving the Town's sewer system,(v)acquiring land and interests in land as
may be required in connection with the purposes described in clauses(i)through(iv),and(vi)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 7:00 P.M. on August 22, 2006, at the
Community Room of Folsom Elementary School, 800 Somerville Drive Prosper, Texas, an ordinance
authorizing the issuance of Combination Tax and Revenue Certificates of Obligation.
TOWN OF PROSPER,TEXAS
By:/s/Charles Niswanger,Mayor