HomeMy WebLinkAboutCity Council Resolutions (R-81-238)-04/07/1981
R-81-238
A RESOLUTIon by the City CouDcil of the City
of Colleyvi1.le, Texas.t approving and authorizing
the giving of notice of intention to issue revenue
bonds.
HHEP.EAS, the City Council of the City of Colleyville,
Texas, hel3 determined that revenu.e bonds in the principal
SUITl of $1,400,000 should be issued in accordance i:vith the
provisions of Articles 1111 et seq. and 2368a, V.A.T.C.S. to
finance the: cost of making improvements and extensions to the
City's combined ~.]atenvorks and Sanitary SeHer System, to \rlit:
construct, extend and improve Hater supply, storage and
distribution facilities; and
HHEREAS, prior to the issuance of said revenue bonds,
this Council is required to give notice of its intention to
issue the same in the manner and time provided by law; now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
SECTION 1: That the City Secretary is hereby authorized
and directed to cause notice to be 'published of this Council's
intention to meet on the 5th day of Hay, 1981, to read an
ordinance on first reading and take such action as will be
necessary to authorize the issuance of revenue bonds in the
total principal amount of $1,400,000 for the purpose of making
improvements and extensions to the City's combined Waterworks
and Sanitary Sewer System, to ~.;rit: construct, extend and improve
water supply, storage and distribution facilities. The
notice hereby approved and authorized to be given 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 such notice shall be (i) published
once a week for two consecutive weeks irt a newspaper having
general circulation in the City of Colleyville, Texas,
(there being no newspaper published in the City) and (ii)
posted at the City Hall, the date of posting at the City
Hall and the date of the first publication of such notice to
be at least fourteen (14) days prior to the date stated
therein for the first reading of the ordinance authorizing
the issuance of the revenue bonds.
PASSED AND APPROVED, this the 7th day of April, 1981.
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CiLy-Sec~etary, C ty
Colleyville, Texas
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Mayor, City of ~ Texas
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE
fJTYJ?F _~.9J=~~~~~LLE, TEXAS, REVENUE BONDS
NOTICE IS HEREBY GIVEN that the City Council of the
City of Colleyville, Texas, will convene at its regular
meeting place in the City Hall of Colleyville, Texas, at
7:30 P.M. on the 5th day of May, 1981, to read an ordinance on
first reading and take such action as may be deemed necessary
to authorize the issuance of revenue bands in the aggregate
principal amount of $1,400,000 for the purpose of making improve-
ments and extensions to the Citv's combined Watenvorks and
Sanitary Sew'er System~ to ,;d.t: ~onstruct, extend and improve
\Vater supply, storage and distribution facilities. Such
bonds shal.l mature not later than January 1, 2015; shall
bear interest at such rate or rates (not to exceed 5% per
annum) as determined by the City Council and said bonds,
together with certain outstanding and unpaid revenue bonds,
shall be payable solely from and equally secured by a first
lien on and pledge of the net revenues of the City's combined
Waterworks and Sanitary Sewer System.
The holder of such bonds shall never have the right to
demand payment out Qf any funds raised or to be raised by
t~xation and said bonds shall not be a debt of the City of
Colleyville, Texas.
****
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.
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City Secretary, ty 0
Colleyville, Texas
****On the 19th day of May, 1981, at 7:30 p.m. the 2nd Reading and Public
Hearing will be held. On the 2nd day of June, 1981, at 7:30 p.m. the
3rd and final Reading and Public Hearing will be held.