HomeMy WebLinkAbout15-1476 09-22-2015 RESOLUTION NO. 15-1476
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 Texas
Local Government Code, Subchapter C of Chapter 271, as amended (the "Act"), for the
purpose of paying contractual obligations to be incurred for (i) street improvements,
including drainage, landscaping, curbs, gutters, sidewalks, entryways, signage, lighting
and traffic signalization incident thereto and the acquisition of land and rights-of-way
therefor and (ii) professional services rendered in relation to such projects and the
financing thereof; 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 accordance with the provisions of
the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS, THAT:
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 during a meeting
scheduled to begin at 7:00 pm. on the 27th day of October, 2015, which certificates of
obligation shall be issued in one or more series in a principal amount not to exceed
$3,350,604, for the purpose of paying contractual obligations to be incurred for (i) street
improvements, including drainage, landscaping, curbs, gutters, sidewalks. entryways,
signage, lighting and traffic signalization incident thereto and the acquisition of land and
rights-of-way therefor and (ii) professional services rendered in relation to such projects
and the financing thereof: such certificate to be payable from ad valorem taxes and a
limited pledge of the net revenues derived from the operation of the City's combined
Waterworks and Sewer System. 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 thirty-one (31) days prior to the date stated
therein for the passage of the ordinance authorizing the issuance of the certificates of
obligation.
APPROVED AND ADOPTED at a regular meeting of the Euless City Council on
September 22, 2015, by a vote of 6 ayes, 0 nays, and 0 abstention.
APPROVED:
L da M. in, ayor
ATTEST:
�11LL
Kim :utter, TR , City Secretary
Resolution No. 15-1476, Page 2 of 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS
TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2015
TAKE NOTICE that the City Council of the City of Euless, Texas, shall convene
at 7:00 o'clock P.M. on the 27th day of October, 2015, at its regular meeting place in the
City Hall located at 201 N. Ector Dr. Euless, Texas, and, during such meeting, the City
Council will consider the passage of an ordinance authorizing the issuance of
certificates of obligation, in one or more series, in an amount not to exceed THREE
MILLION THREE HUNDRED FIFTY THOUSAND SIX HUNDRED AND FOUR
DOLLARS ($3,350,604) for the purpose of paying contractual obligations to be incurred
for (i) street improvements, including drainage, landscaping, curbs, gutters, sidewalks,
entryways, signage, lighting and traffic signalization indicated thereto and the
acquisition of land and rights-of-way therefor and (ii) professional services rendered in
relation to such projects and the financing thereof; such certificates to be payable from
ad valorem taxes and a limited pledge of the net revenues of the City's water and sewer
system. The certificates are to be issued, and this notice is given, under and pursuant
to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as
amended.
Kim Sutter, City Secretary
City of Euless, Texas
Resolution No. 15-1476, Page 3 of 3