1998-026RESOLUTION NO. 98 - 26
A RESOLUTION 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 V.T.C.A., Local Government Code,
Subchapter C of Chapter 271 (the "Act") , for the purposes of paying
contractual obligations to be incurred for (a) the construction of
i) improvements and extensions to water and sewer facilities, (ii)
street improvements, including the acquisition of land and rights-
of-way therefor and drainage incidental thereto and for traffic
signalization, (iii) storm sewer drainage improvements, (b) the
purchase of materials, supplies, equipment and machinery
furniture, computer hardware and software, vehicles, communication
equipment, mowers, etc.) for city facilities and departments,
including the city hall, the public works department, the parks and
recreation department and the public safety department, and (c)
professional services rendered in relation to such projects 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 SOUTHLAKE,
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 19th day of May, 1998, which certificates
of obligation shall be issued in a principal amount not to exceed
14,000,000 for the purposes of paying contractual obligations to
be incurred for (a) the construction of (i) improvements and
extensions to water and sewer facilities, (ii) street improvements,
including the acquisition of land and rights-of-way 'therefor and
drainage incidental thereto and for traffic signalization, (iii)
storm sewer drainage improvements, (b) the purchase of materials,
supplies, equipment and machinery (furniture, computer hardware and
software, vehicles, communication equipment, mowers, etc.) for city
facilities and departments, including the city hall, the public
works department, the parks and recreation department and the
public safety department, and (c) professional services rendered in
relation to such projects and the financing thereof. Such
certificates of obligation shall 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 fifteen (15) days prior to the date
stated therein for the second reading and final adoption of the
ordinance authorizing the issuance of the certificates of
obligation.
PASSED AND ADOPTED, this April 7, 1998.
Mayor; City of Southlake, Texas
ATTEST:
City Secretary, city of
Southlake, Te
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF
SOUTHLAKE, TEXAS CERTIFICATES OF OBLIGATION,
TAKE NOTICE that the City Council of the City of Southlake,
Texas, shall convene at 7:00 o'clock P.M. on the 19th day of May,
1998, at its regular meeting place in the City Hall, 667 N.
Carroll Avenue, Southlake, Texas, and, during such meeting, the
City Council will consider the second reading and final adoption
of an ordinance authorizing the issuance of certificates of
obligation in an amount not to exceed $14,000,000 for the purposes
of paying contractual obligations to be incurred for (a) the
construction of (i) improvements and extensions to water and sewer
facilities, (ii) street improvements, including the acquisition' of
land and rights-of-way therefor and drainage incidental thereto
and for traffic signalization, (iii) storm sewer drainage
improvements, (b) the purchase of materials, supplies, equipment
and machinery (furniture, computer hardware and software,
vehicles, communication equipment, mowers, etc.) for city
facilities and departments, including the city hall, the public
works department, the parks and recreation department and the
public safety department, and (c) professional services rendered
in relation to such projects and the financing thereof. Such
certificates shall be payable from ad valorem taxes and a limited
pledge of the net revenues of the City's combined Waterworks and
Sewer System. 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.
Sandra LeGrand
City Secretary, City of
Southlake, Texas
0508308