HomeMy WebLinkAbout18-1539 12-11-2018 RESOLUTION NO. 18-1539
A RESOLUTION APPROVING AND AUTHORIZING PUBLICATION OF
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION IN
AN AMOUNT NOT TO EXCEED $12,425,000 FOR PUBLIC
IMPROVEMENTS.
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
Subchapter C of Chapter 271 of the Texas Local Government Code, as amended (the
"Act"), for the purpose of paying contractual obligations to be incurred for (i) the
construction of public works; and/or, (ii) the purchase of materials, supplies, equipment,
machinery, land, and rights-of-way for authorized needs and purposes; and/or (iii) for
professional services, all as specified below; 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 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 Council's intention to issue certificates of obligation in one or more series
in a principal amount not to exceed $12,425,000, for the purpose of paying contractual
obligations to be incurred for (i) the construction of public works, to wit: (a) constructing,
resurfacing, enlarging, equipping, and improving various streets, roads, bridges,
overpasses, alleyways, thoroughfares, sidewalks, pathways and related municipal
facilities within the City, including lane markings, signage, street drainage, curbs, gutters,
ADA accessibility, traffic signals, lighting and landscaping related thereto and the
acquisition of necessary rights-of-way and land in connection therewith; (b) constructing,
renovating, enlarging, equipping, and improving water and wastewater facilities for the
City and the acquisition of necessary rights-of-way and land in connection therewith, and
(ii) professional services rendered in relation to such projects and the 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 11, 2018, by a vote of 6 ayes, 0 nays, and 0 abstentions.
APPROVED:
Linda artin, Mayor
ATTEST:
kini Sutter, TRMC, City Secretary
Resolution No. 18-1539, Page 2 of 3
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF EULESS, TEXAS TAX AND
REVENUE CERTIFICATES OF OBLIGATION, SERIES 2019
TAKE NOTICE that the City Council of the City of Euless, Texas, shall convene at
7:00 o'clock P.M. on the 22nd day of January, 2019, 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 TWELVE MILLION FOUR
HUNDRED TWENTY FIVE THOUSAND DOLLARS ($12,425,000) for the purpose of
paying contractual obligations to be incurred for(i) the construction of public works, to wit:
constructing, resurfacing, enlarging, equipping, and improving various streets, roads,
bridges, overpasses, alleyways, thoroughfares, sidewalks, pathways and related
municipal facilities within the City, including lane markings, signage, street drainage,
curbs, gutters, ADA accessibility, traffic signals, lighting and landscaping related thereto
and the acquisition of necessary rights-of-way and land in connection therewith; (b)
constructing, renovating, enlarging, equipping, and improving water and wastewater
facilities for the City and the acquisition of necessary rights-of-way and land in connection
therewith, and (ii) professional services rendered in relation to such projects and the
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. 18-1539, Page 3 of 3