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RES 2016-04CERTIFICATION PERTAINING TO PASSAGE OF A RESOLUTION STATE OF TEXAS § TOWN OF TROPHY CLUB § On the 23rd day of February, 2016 the Town Council of the Town of Trophy Club, Texas, convened in a regular meeting at the regular meeting place thereof, the meeting being open to the public and notice of said meeting, giving the date, place and subject thereof, having been posted as prescribed by Chapter 551, Texas Government Code, as amended; and the roll was called of the duly constituted officers and members of the Town Council, which officers and members are as follows: Nick Sanders, Mayor Jim Parrow ) Greg Lamont, Mayor Pro Tem Garrett Reed ) Tim Kurtz ) Members of Rhylan Rowe ) the Council Philip Shoffner ) and all of said persons were present except , thus constituting a quorum. Whereupon, among other business, a written resolution bearing the following caption was introduced: A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE TOWN OF TROPHY CLUB, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016; PROVIDING AN EFFECTIVE DATE. The Resolution, a full, true and correct copy of which is attached hereto, was read and reviewed by the Town Council. Thereupon, it was duly moved and seconded that the Resolution be finally passed and adopted. The Presiding Officer put the motion to a vote of the members of the Town Council, and the Resolution was finally passed and adopted by the following vote: AYES: 7 NAYS: 0 #5173545.1 ABSTENTIONS: Q THIS CERTIFICATE IS CERTIFIED TO BE TRUE AND CORRECT, and to correctly reflect the duly constituted officers and members of the Town Council of said Town, and the attached and following copy of said Resolution is hereby certified to be a true and correct copy of an official copy thereof on file among the official records of the Town, all on this the Z3rel day of a , 2016. �- imaw� Town Secr ary, Town of Trophy Club, Texas O� TROP [SEAL] O r C Certification for Resolution of Intent to Issue Series 2016 Certificates of Obligation TOWN OF TROPHY CLUB, TEXAS RESOLUTION NO. 2016-04 A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE TOWN OF TROPHY CLUB, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Town of Trophy Club, Texas (the "Town"), pursuant to Chapter 271, Subchapter C, Texas Local Government Code, as amended, is authorized to issue its certificates of obligation for the purpose of paying contractual obligations to be incurred for the purposes set forth below; and WHEREAS, the Town Council of the Town has found and determined that a notice of intention to issue certificates of obligation should be published in accordance with the requirements of applicable law; NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS, THAT: Section 1. The findings and determinations set forth in the preambles hereto are hereby incorporated by reference for all purposes. Section 2. The Town Secretary of the Town is hereby authorized and directed to issue a notice of intention to issue certificates of obligation in substantially the form attached hereto as Exhibit A. Section 3. The foregoing notice shall be published once a week for two consecutive weeks, the date of the first publication being before the thirtieth (30th) day prior to the date set forth in the foregoing notice for passage of the ordinance authorizing the Combination Tax and Revenue Certificates of Obligation. Such notice shall be published in a newspaper of general circulation in the area of the Town of Trophy Club, Texas. Section 4. That this resolution shall take effect from and after the date of its passage. FINALLY PASSED, APPROVED AND EFFECTIVE this 23rd day of February, 2016. ATTEST: Q+A��'-Aj �A�� Holly Fim re , Town Secretary Town of Trophy Club, Texas APPROVED TO AS FORM: Patricia A. Adams ,Town Attorney Town of Trophy Club, Texas C. Nick Sanders, Mayor Town of Trophy Club, Texas [SEAL] TRppy L l� 0 O G RES 2016-04 Page 2 of 3 EXHIBIT A NOTICE OF INTENTION TO ISSUE TOWN OF TROPHY CLUB, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016 NOTICE IS HEREBY GIVEN that on April 12, 2016, the Town Council of the Town of Trophy Club, Texas, at 7:00 p.m. at a regular meeting of the Town Council to be held in the Council Chambers at the Trophy Club Municipal Building, 100 Municipal Drive, Trophy Club, Texas 76262, the regular meeting place of the Town Council, intends to pass an ordinance authorizing the issuance of not to exceed $4,400,000 principal amount of Certificates of Obligation (excluding premium) for the purpose of paying contractual obligations to be incurred for the following purposes, to wit: (a) designing, developing, constructing and equipping joint Police and Town Hall facilities, (b) designing, developing, constructing, improving, extending, and expanding streets, thoroughfares, sidewalks, bridges, and other public ways of the City, including streetscaping, streetlighting, right-of-way protection, utility relocation, and related storm drainage improvements; and acquiring rights-of-way in connection therewith ((a) and (b) together, the "Project"); and (c) paying professional services of attorneys, financial advisors and other professionals in connection with the Project and the issuance of the Certificates. The Certificates shall be issued in one or more series, shall bear interest at a rate not to exceed fifteen percent (15%) per annum, and shall have a maximum maturity date of not later than twenty-five (25) years after their date. Said Certificates shall be payable from the levy of a direct and continuing ad valorem tax against all taxable property within the Town sufficient to pay the interest on this series of Certificates as due and to provide for the payment of the principal thereof as the same matures, as authorized by Chapter 271, Subchapter C, Texas Local Government Code, as amended, and from all or a part of the surplus revenues of the Town's municipal drainage utility system, such pledge of surplus revenues being limited to $1,000. THIS NOTICE is given in accordance with law and as directed by the Town Council of the Town of Trophy Club, Texas. GIVEN THIS February 23, 2016 /s/ Holly Fimbres, Town Secretary Town of Trophy Club, Texas #5099790.3