RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,200,000 AND AUTHORIZAING CERTAIN OTHER MATTERS RELATING THERETO  THE STATE OF TEXAS COUNTY OF HOOD THE CITY OF TOLAR  $ $ $  WHEREAS, the City Council (the "City Council") of the City of Tolar, Texas (the "City"), is authorized to issue certificates of obligation (1) to pay contractual obligations to be incurred (1) to finance the cost of City wide road improvements and (2) to pay contractual obligations for professional services pursuant to Subchapter C of Chapter 271, Texas Local  Government Code, as amended;  WHEREAS, the City Council has determined that iti is in the best interests of the City and otherwise desirable to issue certificates of obligation in a principal amount not to exceed $1,200,000 styled "City of Tolar, Texas Certificates of Obligation, Series 2018" (the  "Certificates");  WHEREAS, in connection with the Certificates, the City Council intends to publish notice of intent to issue the Certificates (the "Notice") in a newspaper of general circulation in  the City; and  WHEREAS, the City Council has been presented with and has examined the proposed form ofNotice and finds that the form and substance thereof are satisfactory, and that the recitals  and findings contained therein are true, correct and complete.  BE IT THEREFORE RESOLVED BY THE CITY COUNCIL OF THE CITY OF Section 1. Preamble. The facts and recitations contained in the preamble of this Section 2. Authorization of Notice. The City Secretary is hereby authorized and directed to execute and deliver the Notice set forth in Exhibit A hereto and to publish such Notice on behalf oft the City once a week for two (2) consecutive weeks in a newspaper which is of general circulation in the City, the date ofthe first publication to be before the 30th day before the date tentatively set for the passage of the ordinance authorizing the issuance of the  TOLAR, TEXAS:  Resolution are hereby found and declared to be true and correct.  Certificates.  Section 3. Engagement of Professionals. This City Council hereby approves the engagement of Orrick, Herrington & Sutcliffe LLP, as bond counsel ("Bond Counse!") in  connection with the issuance ofthe Certificates.  4151-9052-0854.1    Section 4.  Authorization of Other Matters Relating Thereto. The Mayor, City  Secretary and other officers and agents of the City are hereby authorized and directed to do any and all things necessary or desirable to carry out the provisions ofthis Resolution.  Section5 5.  Effective Date. This Resolution shall take effect immediately upon  passage.  Section 6. Public Meeting. It is officially found, determined and declared that the meeting at which this Resolution is adopted was open to the public and public notice of the time, place and subject matter of the public business to be considered at such meeting, including this Resolution, was given all as required by the Texas Government Code, Chapter 551, as amended.  [Remainder of Page Intentionally Left Blank]  4151-9052-0854.1    PASSED AND APPROVED this 20th day of August, 2018.  Mayor City ofTolar, Texas  -  ATTEST:  ity Sécretary CitylofTolar, Texas  OF  FEXAS  4151-9052-0854.1    EXHIBIT A  NOTICE OF INTENTION TO ISSUE CERTIFICATES  NOTICE IS HEREBY GIVEN that the City Council of the City of Tolar, Texas (the "City") will hold a meeting at its regular meeting place at 8712 West Highway 377, Tolar, Texas 76476 at 6:00 p.m. on the 15th day of October, 2018, which is the time and place tentatively set for the passage of an ordinance and such other action as may be deemed necessary to authorize the issuance of the City's certificates of obligation, payable from ad valorem taxation and a limited (in an amount not to exceed $1,000) subordinate pledge of revenues of the waterworks and sewer system of the City, in the maximum aggregate principal amount of $1,200,000, bearing interest at any rate or rates not to exceed the maximum interest rate now or hereafter authorized by law, as shall be determined within the discretion of the City Council at the time of issuance and maturing over aj period of years not to exceed forty (40) years from the date thereof, for the purpose of evidencing the indebtedness of the City to pay contractual obligations to be incurred (1) to finance the cost of City wide road improvements and (2)t to pay contractual obligations for professional services pursuant to Subchapter C of Chapter 271, Texas Local  Government Code, as amended.  City Secretary City ofTolar, Texas  4151-9052-0854.1