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HomeMy WebLinkAbout01-1091 02-27-2001RESOLUTION NO. 01 -1091 A RESOLUTION approving and authorizing publication of notice of intention to issue certificates of obligation. WHEREAS, the City Council of the City of Euless, Texas, has determined that certificates of obligation should be issued under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271, for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: constructing and equipping a park building and street improvements, including the acquisition of rights -of -way therefor, and (ii) professional services rendered in connection with the acquisition, construction and financing of such projects; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in a newspaper of general circulation in the City, said notice stating (i) the time and place the Council tentatively proposes to pass the ordinance authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued, (iii) the purposes for which the certificates are to be issued and (iv) the manner in which the Council proposes to pay the certificates; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS: SECTION 1: The City Secretary is hereby authorized and directed to cause notice to be published of the Council's intention to issue certificates of obligation in a principal amount not to exceed $5,500,000 for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: constructing and equipping a park building and street improvements, including the acquisition of rights -of -way therefor, and (ii) professional services rendered in connection with the acquisition, construction and financing of such projects, such certificates to be payable from ad valorem taxes and a pledge of the surplus net revenues of the City's combined Waterworks and Sewer System (the "System ") remaining after payment of operating and maintenance expenses of the System and payments for "Prior Lien Obligations" (as defined in said ordinance). The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2: The City Secretary shall cause the aforesaid notice to be published in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least fifteen (15) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. SECTION 3: 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 V.T.C.A., Government Code, Chapter 551, as amended. 45000268.1 SECTION 4: This Resolution shall be in force and effect from and after its passage on the date shown below. PASSED AND ADOPTED, this February 27, 2001. CITY OF EULESS, TEXAS ZIA OA- CA L Mayor ATTEST: (Citti :Seal) 45000268.1 -2- EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS, CERTIFICATES OF OBLIGATION TAKE NOTICE the City Council of the City of Euless, Texas, shall convene at 7:00 o'clock P.M. on the 10th day of April, 2001, at its regular meeting place in the City Hall, 201 North Ector Drive, Euless, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation in a principal amount not to exceed $5,500,000 for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: constructing and equipping a park building and street improvements, including the acquisition of rights -of -way therefor, and (ii) professional services rendered in connection with the acquisition, construction and financing of such projects, such certificates to be payable from ad valorem taxes and a pledge of the surplus net revenues of the City's combined Waterworks and Sewer System (the "System ") remaining after payment of operating and maintenance expenses of the System and payments for "Prior Lien Obligations" (as defined in said ordinance). The certificates 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. Susan Crim City Secretary City of Euless, Texas 45000268.1