HomeMy WebLinkAbout98-985 01-27-1998RESOLUTION NO. 98 -985
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 (the "Act "), for the purpose of paying
contractual obligations to be incurred for (i) constructing and
equipping fire stations, (ii) constructing street improvements,
including drainage, curbs, gutters, sidewalks, traffic flow and
signalization and the acquisition of land and rights -of -way
therefor, and (iii) professional services rendered in relation to
such improvements 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:
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 P.M. on the 24th day of February, 1998, which
certificates of obligation shall be issued in a principal amount
not to exceed $5,500,000, for the purpose of paying contractual
obligations to be incurred for (i) constructing and equipping fire
stations, (ii) constructing street improvements, including
drainage, curbs, gutters, sidewalks, traffic flow and signalization
and the acquisition of land and rights -of -way therefor, and (iii)
professional services rendered in relation to such improvements and
the financing thereof, and shall be payable from ad valorem taxes
and net revenues derived from the operation of the City's combined
Waterworks and Sewer System in a limited amount and in a
subordinate manner as provided in the aforesaid 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.
0491751
PASSED AND ADOPTED, this January 27, 1998.
ATTEST:
City Secretary, City of
Euless, Texas
(City Sealr
0491751
C6L c /AL/
Mayor, ity of Euless, Texas
-2-
RESOLUTION NO. 98 -985, PAGE 2 OF 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF
EULESS, TEXAS CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Euless,
Texas, shall convene at 7:00 o'clock P.M. on the 24th day of
February, 1998, at 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 $5,500,000
for the purpose of paying contractual obligations to be incurred
for (i) constructing and equipping fire stations, (ii)
constructing street improvements, including drainage, curbs,
gutters, sidewalks, traffic flow and signalization and the
acquisition of land and rights -of -way therefor, and (iii)
professional services rendered in relation to such improvements
and the financing thereof; such certificates to be payable from ad
valorem taxes and net revenues of the City's combined Waterworks
and Sewer System in a limited amount and in a subordinate manner
as provided in the aforesaid 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
0491751
RESOLUTION NO. 98 -985, PAGE 3 OF 3