HomeMy WebLinkAboutCity Council Resolutions (R-95-1092)-02/21/1995
RESOLUTION R-95-1092
A RESOLUTION APPROVING, RATIFYING, AND CONFIRMING THE GIVING OF
NOTICE OF INTENTION TO ISSUE REVENUE BONDS
WHEREAS, The City Council of the City of Colleyville, Texas, has determined that
revenue bonds should be issued in accordance with the provisions of
Subchapter C of Chapter 402 of the Local Government Code, V.T.C.A. and
Article 2368a, V.A.T.C.S. to finance the costs of drainage improvements,
including the acquisition, construction and repair of structures, equipment
and facilities for the City's Municipal Drainage Utility System; and
WHEREAS, prior to the issuance of said revenue bonds, a notice of its intention to issue
such reven ue bonds in the manner and time provided by law should be
given;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVI LLE, TEXAS:
Sec. 1:
That the "Notice of Intention to Issue City of Colleyville, Texas, revenue
Bonds., attached hereto as Exhibit A and incorporated herein by reference
as a part hereof for all purposes, and the acts of the City Secretary in
causing such Notice to be published once a week for two consecutive
weeks in The Colleyville News & Times, a newspape r published and of
general circulation in the City of Colleyville, Texas, advising of the Council's
intention to meet at 7:30 o'clock P.M. on the 7th day of March, 1995, and,
during such meeting, consider the third reading and final passage and
adoption of an ordinance authorizing the issuance of revenue bonds in an
amount not to exceed $1,500,000 for the purpose of making drainage
improvements, including the acquisition, construction and repair of
structures, equipment and facilities for the City's Municipal Drainage Utility
System is hereby approved, ratified and confirmed in all respects.
AND IT IS SO RESOLVED.
I Passed by a vote of~ayes and 0 nays and 0 abstentions on this the el/d" day of
J€hrun ry . 1995.
I
ATTEST:
CITY OF COLLEYVILLE:
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF COLLEYVILLE. TEXAS. REVENUE BONDS
NOTICE IS HEREBY GIVEN that the City Council of the City of
Colleyville, Texas, shall convene at 7:30 o'clock P.M. on the 7th
day of March, 1995, at its regular meeting place in the City Hall,
5400 Bransford Road, Colleyville, Texas, and during such meeting,
the Council will consider the third reading and final passage of an
ordinance authorizing the issuance of revenue bonds in a principal
amount not to exceed $1,500,000 for the purpose of making drainage
improvements, including the acquisition, construction and repair of
structures, equipment and facili ties for the ci ty' s Municipal
Drainage Utility System. Such revenue bonds shall mature not later
than December 31, 2015 and bear interest at such rate or rates (not
to exceed 12% per annum) as determined by the City Council. Such
bonds shall be payable solely from and equally secured by a lien on
and pledge of the revenues of the City'S Municipal Drainage Utility
system.
The holder of such bonds shall never have the right to demand
payment out of any funds raised or to be raised by taxation.
This Notice is issued pursuant to authority and direction of
the City Council of the City of Colleyville, Texas, and in
accordance with the provisions of Article 2368a, V.A.T.C.S.
Jean Harris
City Secretary, City of
Colleyville, Texas
02279'Z7