R592RESOLUTION NO. 592
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFICATES OF OBLIGATION TO FINANCE
STREET, SIDEWALK AND RELATED DRAINAGE IMPROVEMENTS AT
VARIOUS LOCATIONS IN THE CITY AND THE ACQUISITION OF
PUBLIC SAFETY VEHICLES AND EQUIPMENT
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
WHEREAS, the City Council of the CITY OF KENNEDALE, TEXAS (the "City") hereby
determines that it is necessary and desirable to acquire, construct and equip street, sidewalk and
related drainage improvements a various locations in the City and to acquire public safety equipment
including a fire truck, an ambulance and related equipment (collectively, the "Projects"); and
WHEREAS, the City Council of the City intends to finance the Projects from proceeds
derived from the sale of one or more series of "Combination Tax and Revenue Certificates of
Obligation" issued by the City pursuant to Sections 271.041 - 271.064, Texas Local Government
Code, as amended; and
WHEREAS, pursuant to Section 271.049, Texas Local Government Code, the City Council
deems it advisable to give notice of intention to issue certificates of obligation in an amount not to
exceed an aggregate of $6, 000, 000 for the purpose of paying, in whole or in part, the Projects, to pay
all or a portion of the legal, fiscal and engineering fees in connection with the Projects, and to pay
the costs of issuance related to the certificates of obligation; 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 CITY COUNCIL OF THE CITY OF
KENNEDALE, TEXAS:
SECTION 1. APPROVAL OF NOTICE OF INTENTION. Attached hereto as ExhibitA is a form
of the "Notice of Intention to Issue Combination Tax and Revenue Certificates of Obligation," the
form and substance of which is hereby adopted and approved. The City Manager, City Secretary,
and Director of Finance of the City are each authorized to make changes to the Notice as necessary
prior to its publication and posting as described in Sections 3 and 4 below.
SECTION 2. DESIGNATION OF SELF-SUPPORTING DEBT. In connection with providing the
information contained in the Notice approved in Section 1 above, attached hereto as Exhibit B is a
list of outstanding debt obligations of the City which the City hereby designates as self-supporting
debt for the purposes of Section 271.049(e), Texas Local Government Code.
SECTION 3. PUBLICATION OF NOTICE OF INTENTION IN NEWSPAPER. The City Secretary
shall cause the Notice to be published in substantially the form attached hereto in a newspaper, as
defined by Subchapter C, Chapter 2051, Government Code, that is of general circulation in the area
of the City, on the same day in each of two consecutive weeks, the date of the first publication
thereof to be at least 46 days before the date tentatively set for the passage of the ordinance
authorizing the issuance of such certificates of obligation as shown in the Notice.
SECTION 4. POSTING OF NOTICE OF INTENTION ON CITY'S WEBSITE. The City Secretary
shall further cause the Notice to be posted on the City's internet website beginning at least 45 days
before, and continuing through, the date tentatively set for the passage of the ordinance authorizing
the issuance of such certificates of obligation as shown in the Notice.
SECTION 5. INCORPORATION OF RECITALS. The City Council hereby finds that the
statements set forth in the recitals of this Resolution are true and correct, and the City Council
hereby incorporates such recitals as a part of this Resolution.
SECTION 6. EFFECTIVE DATE. This Resolution shall become effective immediately upon
passage.
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PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITYOFKENNEDALE,
TEXAS ATA REGULAR MEETING ONJULY20, 2021, AT WHICHMEETINGA QUORUM
WAS PRESENT.
Attest:
City Secretary
City of Kennedale, Texas
(City Seal)
AdaL Avda,0
Mayor
City of Kennedale, Texas
Signature Page to Notice of Intention Resolution Relating to the Issuance of
City of Kennedale, Texas Combination Tax and Revenue Certificates of Obligation
EXHIBIT A
CITY OF KENNEDALE, TEXAS
NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
The City Council of the City of Kennedale, Texas (the "City") does hereby give notice of
intention to issue one or more series of City of Kennedale, Texas Combination Tax and Revenue
Certificates of Obligation in the maximum aggregate principal amount not to exceed $6, 000, 000 for
the purpose of paying, in whole or in part, contractual obligations to acquire, construct and equip
street, sidewalk and related drainage improvements at various locations in the City and to acquire
public safety equipment including a fire truck, an ambulance and related equipment (collectively,
the "Projects"), and paying all or a portion of the legal, fiscal, and engineering fees in connection
with the Projects and costs of issuance related to such Certificates of Obligation. 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 lien on and pledge of "Surplus Revenues,"
if any, received by the City from the ownership and operation of the City's municipal waterworks
and sewer system. The current principal of all currently outstanding debt obligations of the City is
$6,846,675, the combined principal and interest required to pay all currently outstanding debt
obligations of the City on time and in full is $7,317,938, the estimated combined principal and
interest required to pay the proposed Certificates on time and in full is $8,171,500, the estimated
interest rate for the proposed Certificates is 3.00%, and the maximum maturity date of the proposed
Certificates is February 1, 2041. The prior statements regarding currently outstanding debt
obligations of the City do not include debt that the City has designated as self-supporting and
payable from revenues other than ad valorem taxes. The City Council proposes to authorize the
issuance of such Certificates of Obligation at 5:30 p.m. on Tuesday, September 21, 2021, at a
Regular Meeting at the City Hall, City of Kennedale, Texas.
/s/ Linda Rhodes
Mayor, City of Kennedale, Texas
EXHIBIT B
DESIGNATION OF SELF-SUPPORTING INDEBTEDNESS
SECURED WITH AD VALOREM TAXES
TITLE OF OUTSTANDING OBLIGATIONS
OUTSTANDING AMOUNT
PRINCIPAL DESIGNATED AS
AMOUNT ($) SELF-SUPPORTING ($)
General Obligation Refunding Bond, Series 2020A 1,540,000 0
General Obligation Refunding Bond, Series 2020 1,145,000 1,145,000
Tax Notes, Series 2019 1,805,000 0
General Obligation Refunding Bonds, Series 2016 2,500,000 0
Combination Tax and Revenue Certificates of Obligation, Series 2007A 625,000 0
Combination Tax and Revenue Certificates of Obligation, Series 2007 1,130,000 1,130,000
General Obligation Refunding Bonds, Series 2007 610,000 233,325
TOTALS 9,355,000 2,508,325
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF KENNEDALE
I, the undersigned City Secretary of the CITY OF KENNEDALE, TEXAS (the "City"), hereby certify as
follows:
1. The City Council of the City (the "City Council") convened in Regular Meeting on July 20, 2021,
at the designated meeting place (the "Meeting"), and the roll was called of the duly constituted officers and
members of the City Council, to wit:
Linda Rhodes, Mayor
Jan Joplin, Councilmember Place 1
Gary Mitchell, Councilmember, Place 2
Julie Jacobson, Councilmember, Place 3
Vacant, Place 4
James Connor, Councilmember, Place 5
and all of the officers and members of the City Council were present, except the following absentees:
k)ONE , thus constituting a quorum.
Whereupon, among other business, the following was transacted at the Meeting: a written
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION TO FINANCE STREET, SIDEWALK
AND RELATED DRAINAGE IMPROVEMENTS AT VARIOUS LOCATIONS IN
THE CITY AND THE ACQUISITION OF PUBLIC SAFETY VEHICLES AND
EQUIPMENT
(the "Resolution") was duly introduced for the consideration of the City Council. It was then duly moved and
seconded that the Resolution be adopted; and, after due discussion, said motion carrying with it the adoption
of the Resolution, prevailed and carried by the following vote:
AYES: 1 NOES: IC/ ABSTENTIONS:
2. A true, full and correct copy of the Resolution adopted at the Meeting described in the above and
foregoing paragraph is attached to and follows this Certificate; the Resolution has been duly recorded in the
City Council's minutes of the Meeting; the above and foregoing paragraph is a true, full and correct excerpt
from the City Council's minutes ofthe Meeting pertaining to the passage of the Resolution; the persons named
in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the
City Council as indicated therein; each of the officers and members of the City Council was duly and
sufficiently notified officially and personally, in advance, of the time, place and purpose of the Meeting, and
that the Resolution would be introduced and considered for passage at the Meeting, and each of the officers
and members consented, in advance, to the holding of the Meeting for such purpose, and that the Meeting was
open to the public and public notice of the time, place and purpose of the Meeting was given, all as required
by Chapter 551, Texas Government Code.
SIGNED AND SEALED the 20th day of July, 2021.
�cLINl /f , S
(SEAL)
o°
e,,4'1 C0 a%''��
Secretary, City of Kennedale, Tex