HomeMy WebLinkAbout15-1479 12-08-2015 RESOLUTION NO. 15-1479
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) public infrastructure
including demolishing dangerous structures, streets, street improvements, water and
wastewater, drainage, curbs, gutters, sidewalks, entryways, signage, lighting, traffic
signalization and other public improvements thereto and the acquisition of land and
rights-of-way therefor, and (ii) professional services rendered in relation to such projects
and 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 City Council's intention to issue certificates of obligation during a
meeting scheduled to begin at 7:00 pm. on the 12th day of January, 2016, which
certificates of obligation shall be issued in one or more series in a principal amount not
to exceed $16,582,160, for the purpose of paying contractual obligations to be incurred
for (i) public infrastructure including demolishing dangerous structures, streets, street
improvements, water and wastewater, drainage, curbs, gutters, sidewalks, entryways,
signage, lighting, traffic signalization and other public improvements thereto and the
acquisition of land and rights-of-way therefor, and (ii) professional services rendered in
relation to such projects and 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
December 8, 2015, by a vote of 7 ayes, 0 nays, and o abstentions.
APPROVED:
Lin a Ma in, Mayor
ATTEST:
tek.., it
Ki Su er, TR C, City Secretary
Resolution No. 15-1479, 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 12th day of January, 2016, 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 SIXTEEN
MILLION FIVE HUNDRED EIGHTY-TWO THOUSAND ONE HUNDRED SIXTY
DOLLARS ($16,582,160) for the purpose of paying contractual obligations to be
incurred for (i) public infrastructure including demolishing dangerous structures, streets,
street improvements, water and wastewater, drainage, curbs, gutters, sidewalks,
entryways, signage, lighting, traffic signalization and other public improvements thereto
and the acquisition of land and rights-of-way therefor, and (ii) professional services
rendered in relation to such projects and 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. 15-1479, Page 3 of 3