HomeMy WebLinkAbout04-1174 05-11-2004RESOLUTION NO. 04 -1174
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: street improvements,
including drainage and the acquisition of land and rights -of -way therefor, and (ii) professional
services rendered in connection with the acquisition, construction and financing of such street
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: street improvements, including drainage and the acquisition
of land and rights -of -way therefor, and (ii) professional services rendered in connection with the
acquisition, construction and financing of such street projects, such certificates to be payable
from ad valorem taxes and a pledge of the 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.
SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
45452574.1
PASSED AND ADOPTED, this May 11, 2004.
ATTEST:
(City Seal)
45452574 1
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CITY OF EULESS, TEXAS
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Mayor U
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 22dd day of June, 2004, 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:
street improvements, including drainage and the acquisition of land and rights -of -way
therefore, and (ii) professional services rendered in connection with the acquisition,
construction and financing of such street projects, such certificates to be payable from
ad valorem taxes and a pledge of the 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