1985-005RESOLUTION'85-5
A RESOLUTION by the City Council of the City of
Southlake, Texas, approving and authorizing
publication of notice of intention to issue
certificates of obligation.
WHEREAS, the City Council of the City of
Southlake, Texas, has determined that certificates of
obligation should be issued under and pursuant to the
provisions of Article 2368a.1, V.A.T.C.S., for the purpose
of paying contractual obligations to be incurred in
constructing improvements to the combined waterworks and
sewer system of the City, to -wit: construction of
improvements and extensions to the City's water storage and
distribution facilities; 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 this 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
SOUTHLAKE, TEXAS:
Section 1: That the City Secretary is hereby
authorized and directed to cause notice to be published of
this Council's intention to issue certificates of obligation
in an amount not to exceed $2,575,000 for the purpose of
paying contractual obligations to be incurred in
constructing permanent public improvements to the combined
waterworks and sewer system of the City, to -wit:
construction of improvements and extensions to the City's
water storage and distribution facilities, such certificates
to be payable from ad valorem taxes and from a pledge of the
net revenues of the City's combined waterworks and sanitary
sewer systems. The notice hereby approved and authorized to
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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: That 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 fourteen (14) days prior to the date stated therein
for the passage of the ordinance authorizing the issuance of
the certificates of obligation.
PASSED AND APPROVED, this the 5th day of February,
1985.
ATTEST:
hity Secretary, City of
Southlake, Texas
CITY SEAL)
yresf ty/ofSo l ke,
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