HomeMy WebLinkAboutResolution No. 91-05 NOTICE OF INTENTION TO ISSUE OF NOT TO
EXCEED $1,330,000 CITY OF THE COLONY, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS,
AND OTHER MATTERS RELATING THERETO
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY:
1. The City Secretary of the City of The Colony,
Texas, is hereby authorized and directed to issue a notice in
substantially the following form:
"NOTICE OF INTENTION TO ISSUE
WATERWORKS AND SEWER SYSTEM REVENUE BONDS
"THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF THE COLONY
"NOTICE is hereby given that on the 18th day of March,
1991, the City Council of the City of The Colony, Texas, at a
regular meeting to be held at the City Hall, 5151 North Colony
Boulevard, The Colony, Texas 75056, the regular meeting place
of the City Council, at 7:30 P.M., intends to adopt an
ordinance authorizing the issuance of Waterworks and Sewer
System Revenue Bonds for the purpose of improving and extending
the City's Waterworks and Sewer System. Said Bonds shall be
issued in an amount not to exceed One Million Three Hundred
Thirty Thousand Dollars ($1,330,000); they shall bear interest
at a rate not to exceed Fifteen Percent (15%) per annum, and
shall have a maximum maturity date of not later than Forty (40)
years after their date. Said Bonds shall be payable from a
lien on the net revenues derived from the operation of the
City's combined Waterworks and Sewer System, sufficient to pay
the interest on said Bonds as due and to provide for the
principal thereof as the same matures, as authorized by
Vernon's Texas Revised Civil Statutes Annotated, Article 1111,
et seq., as amended and supplemented.
"THIS NOTICE is given in accordance with law and as
directed by the City Council of the City of The Colony, Texas.
"GIVEN this the 25th day of February, 1991.
/s/ Patti Hicks
City Secretary,
City of The Colony, Texas"
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2. The foregoing notice shall be published once a
week for two consecutive weeks, the date of the first
publication being at least fourteen (14) days prior to the date
set forth in the foregoing notice for passage of the ordinance.
authorizing said Waterworks and Sewer System Revenue Bonds.
Such notice shall be published in a newspaper of general
circulation in the area of the City of The Colony, Texas.
PASSED, APPROVED AND EFFECTIVE this 25th day of February,
1991.
Mayor, City of Texas
ATTEST:
City Secretary,
City of The Colony, Texas
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MINUTES AND CERTIFICATION PERTAINING TO A RESOLUTION
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF THE COLONY
On the 25th day of February, 1991, the City Council of
the City of The Colony, Texas, convened in a regular meeting at
the regular meeting place thereof in the City Hall, the meeting
being open to the public, and notice of said meeting, giving
the date, place and subject thereof, having been posted as
prescribed by Vernon's Texas Revised Civil Statutes Annotated,
Article 6252-17, as amended, and the roll was called of the
duly constituted officers and members of said City Council, to
wit:
Bill Manning,-Mayor
Steve Withers, Mayor Pro Tem
Mike Lynch, Councilmember
Mike Alianell, Councilmember
Rob Burchard, Councilmember
Lou Gomez, Councilmember
Joel Marks, Councilmember
and all of said persons were present, except for the following:
~ ~,~1~(~ ~c ~ ~a~, ~0~ ~~ , thus
constituting a quorum. Whereupon, among other business, a
Resolution bearing the following caption was introduced at said
meeting:
A RESOLUTION RELATING TO THE GIVING OF
NOTICE OF INTENTION TO ISSUE OF NOT TO
EXCEED $1,330,000 CITY OF THE COLONY, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS,
AND OTHER MATTERS RELATED THERETO
The Resolution, a full, true and correct copy of which is
attached hereto, was read and reviewed by the City Council.
Thereupon, it was duly moved and seconded that the
Resolution be passed.
The Presiding Officer put the motion to a vote of the
members of the City Council and the Resolution was passed by
the following vote:
AYES:
NOES:
ABSTENTIONS:
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MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and
to correctly reflect the duly constituted members of the City
Council of said City, and the attached and following copy of
said Resolution is hereby certified to be a true and correct
copy of an official copy thereof on file among the official
records of the City, all on this 25th day of February, 1991.
Presiding-Officer, -~
City of The Colony~_T~_~as
ATTEST:
City Secretary,
City of The Colony, Texas
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