HomeMy WebLinkAbout95-912 09-26-1995RESOLUTION NO. 95 -912
A RESOLUTION approving and authorizing publication of
notice of intention to issue tax and golf course
revenue 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 acquisition, improvement
and development of land for a municipal golf course and (ii)
professional services rendered in relation to such project 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 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 the principal
amount not to exceed $9,700,000 for the purpose of paying
contractual obligations to be incurred for (i) the acquisition,
improvement and development of land for a municipal golf course
and (ii) professional services rendered in relation to such
project and the financing thereof, such certificates to be payable
from ad valorem taxes and a lien on and pledge of the net revenues
derived from the ownership and operation of the City's municipal
golf course facilities. 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.
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SECTION 3: It is officially
declared that the meeting at which this
open to the public and public notice
subject matter of the public business
meeting, including this Resolution, was
V.T.C.A., Government Code, Chapter 551,
found, determined, and
Resolution is adopted was
of the time, place, and
to be considered at such
given, all as required by
as amended.
PASSED AND ADOPTED, this September 26, 1995.
Jgdik
Mayor U
City of Euless, Texas
ATTEST:
City Secr -tary, City of
Euless, Texas
(City Seal)
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS
TAX AND GOLF COURSE REVENUE CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Euless,
Texas, shall convene at 6:30 o'clock P .M. on the 17th day of
October, 1995, at its regular meeting place in the City Hall, 201
N. 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 an amount not to exceed
$9,700,000 for the purpose of paying contractual obligations to be
incurred for (i) the acquisition, improvement and development of
land for a municipal golf course and (ii) professional services
rendered in relation to such project and the financing thereof,
such certificates to be payable from ad valorem taxes and a lien on
and pledge of the net revenues derived from the ownership and
operation of the City's municipal golf course facilities. 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