HomeMy WebLinkAboutResolution No. 2014-066 RESOLUTION NO. 2014- O(4O
A RESOLUTION OF THE CITY OF THE COLONY, TEXAS
APPROVING AND AUTHORIZING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION.
WHEREAS, the City Council of the City of The Colony, Texas (the "City"), has
determined that certificates of obligation should be issued under and pursuant to the provisions
of Texas Local Government Code, Subchapter C of Chapter 271, as amended, for the purpose
of paying contractual obligations to be incurred for (i) constructing street improvements,
including overpasses, drainage, landscaping, curbs, gutters, sidewalks, signage, traffic
signalization and street noise abatement incidental thereto and the acquisition of land and
rights-of-way therefor, (ii) improving and extending the City's waterworks and sewer system and
(iii) professional services rendered in connection therewith; 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 the City 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 City Council proposes to pay the certificates;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
THE COLONY, TEXAS:
SECTION 1: That the City Secretary is hereby authorized and directed to cause notice
to be published of the City Council's intention to issue certificates of obligation, in one or more
series, in the principal amount not to exceed TWENTY-THREE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($23,500,000) for the purpose of paying contractual obligations to be
incurred for (i) constructing street improvements, including overpasses, drainage, landscaping,
curbs, gutters, sidewalks, signage, traffic signalization and street noise abatement incidental
thereto and the acquisition of land and rights-of-way therefor, (ii) improving and extending the
City's waterworks and sewer system and (iii) professional services rendered in connection
therewith; such certificates to be payable from ad valorem taxes and a limited pledge of the
surplus net revenues of the City's 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: That the City Secretary shall cause the notice described above 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 thirty-one (31) days prior to the date stated
therein for the passage of the ordinance authorizing the issuance of the certificates of obligation.
46950149.2/11409690
PASSED AND ADOPTED, this 7th day of October, 2014.
Ko-,K.
ayor
ity of The Colony, Texas
ATTEST:
0/A):11`-1-.
City Secretary,
City of The Colony, Texas
OF Tf�F
( Vibe .) t •Z:
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF THE COLONY, TEXAS
CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of The Colony, Texas, shall convene at
7:00 p.m. on the 18th day of November, 2014, at its regular meeting place in City Hall located at
6800 Main Street, The Colony, Texas, and, during such meeting, the City Council will consider
the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more
series, in an amount not to exceed TWENTY-THREE MILLION FIVE HUNDRED THOUSAND
DOLLARS ($23,500,000) for the purpose of paying contractual obligations to be incurred for
(i) constructing street improvements, including overpasses, drainage, landscaping, curbs,
gutters, sidewalks, signage, traffic signalization and street noise abatement incidental thereto
and the acquisition of land and rights-of-way therefor, (ii) improving and extending the City's
waterworks and sewer system and (iii) professional services rendered in connection therewith,
such certificates to be payable from ad valorem taxes and a limited pledge of the surplus net
revenues of the City's waterworks and sewer system. The certificates are to be issued, and this
notice is given, under and pursuant to the provisions of Texas Local Government Code,
Subchapter C of Chapter 271, as amended.
Christie Wilson, City Secretary
City of The Colony, Texas
46950149.2/11409690 A-1