2005-075RESOLUTION NO. 05-075
A RESOLUTION approving and authorizing publication of notice of intention to
issue certificates of obligation for street and drainage improvements.
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 purpose of paying
contractual obligations to be incurred for (i) the construction of public works, to wit: street and
drainage improvements, including the purchase of land and rights-of-way therefor, and
ii) 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 5:30 P.M. on the 17th day of January, 2006, which certificates of obligation shall be
issued in a principal amount not to exceed $6,075,000 for the purpose of paying contractual
obligations to be incurred for (i) the construction of public works, to wit: street and drainage
improvements, including the purchase of land and rights-of-way therefor, and (ii) professional
services rendered in relation to such projects and the financing thereof; and 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 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.
SECTION 3: It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and
subject matter of the public business to be considered at such meeting, including this
Resolution, was given, all as required by V.T.C.A., Government Code, Chapter 551, as
amended.
SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
45689009.1
t
PASSED AND ADOPTED, this December 6, 2005.
CITY OF SOUTHLAKE, TEXAS
Mayo/r
ATTEST:
O• •J.
City Secretary Z,:
City Seal) -
45689009 1.DOC 2
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
5:30 P.M. on the 17`x' day of January, 2006, at the City Hall, 1400 Main Street, Southlake,
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 $6,075,000 for
the purpose of paying contractual obligations to be incurred for (i) the construction of public
works, to wit: street and drainage improvements, including the purchase of land and rights-of-
way therefor, 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 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.
Lori Farwell
City .Secretary
City of Southlake, Texas
45689009.1