HomeMy WebLinkAbout89-706 03-28-1989RESOLUTION NO. 89 -706
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)
constructing street improvements to Highway 10 and other street
improvements, including drainage incidental thereto and the
acquisition of rights -of -way therefor, and (ii) professional
services; 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: That 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 the principal
amount not to exceed $1,500,000 for the purpose of paying con-
tractual obligations to be incurred for (i) constructing street
improvements to Highway 10 and other street improvements,
including drainage incidental thereto and the acquisition of
rights -of -way therefor, and (ii) professional services, such
certificates to be payable from ad valorem taxes and a limited
pledge of the net revenues of the City's combined Waterworks
and Sanitary 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: That 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.
ATTEST:
PASSED AND ADOPTED, this the 28th day of March, 1989.
City Secretj4iry, City o
Euless, Te as
(City-Seal)
3 1 3 1 s
Mayor, City of Euless, Texas