HomeMy WebLinkAbout95-916 09-26-1995RESOLUTION NO. 95 -916
A RESOLUTION approving and authorising publication of
notice of intention to issue tax and softball park
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 (i) the acquisition and
improvement of park and recreational facilities (softball park)
and (ii) the payment of 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,
HE 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 $2,000,000 for (i) the acquisition and
improvement park and recreational facilities (softball park) and
(ii) the payment of 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 park
facilities to be acquired and /or constructed with the proceeds of
sale of the certificates. 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 20 The City Secretary shall cause the aforesaid
notice to be published in a newspaper of general circulation in
the City, once a weak 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.
027M41
CRN: 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.
ATTEST:
C ty Sear
Euless, T
(City Seal)
City of
�.ayor
City of Euless, Texas