HomeMy WebLinkAboutResolution No. 97-26 ORIGINAL
P. esolution No. q,
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
WHEREAS, this City Council deems it advisable to give notice of intention to issue certificates of
obligation of the City of The Colony, Texas, as hereinafter provided; and
WHEREAS, it is officially found and determined that the meeting at which this resolution has been
considered and acted upon was open to the public and public notice of the time, place and subject of said
meeting was given, all as required by Tex. Gov't Code Ann. ch. 551; Now, Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY:
Section 1. FORM OF NOTICE. Attached hereto is a form of Notice of Intention to Issue
Certificates of Obligation, the form and substance of which are hereby adopted and approved.
Section 2. PUBLICATION OF NOTICE. Said Notice shall be published, in substantially the form
attached hereto, in a newspaper, as defined in Tex. Gov't Code Ann. {}2051.044, of general circulation in
the area of said City, once a week for two consecutive weeks, the date of the first publication thereof to be
before the 14th day before the date tentatively set for passage of the ordinance authorizing the issuance of
such certificates.
PASSED, APPROVED AND EFFECTrVE this~ee. ¢. r~'lS e e.. ~9, /~/7
Colony, Texas
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C:XLG\CLIENTS\COLONY~COS98qDOC S\NOTICE.COS
SENT BY:BOYLE&LORRY ;12-80-97 ;11:21A1~ ; BOYLE&LOWRY~ 9726242298;# 8/ 4
NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION
NOTICE I$ HEREBY GIVEN that the City Council of the City of The Colony, Text, at its
mccting to commence at 7:30 P.M. on Jmmm3, 19, 1998, at its regular meeting place in the City Hall,
5151 North Colony Boulevard, The Colony, Texas, tentatively proposcs to authorize the issuance
of interest bearing certificates of obligation of said City in total maximum principal amount not to
exceed $4,100,000, for thc public purposc of paying contractual obligations to bc incurred for thc
tbllowing: acquisition of a building and related land located at 6800 North Main Street and the
renovation thereof to be used as the City Hall, including City offices, and the City library; the
acquisition of a ladder truck, panunedic equipment, and a water track for tile fire department;
construction and equipment of baseball field improvements; construction of street improvements for
thc cxtcnsion of Memorial Drive; and the renovation of the existing City Hall, Library, utilities
building and fire station no. 1/public works building. Such existing and renovated buildings to be used
for murdcipal and public purposes to include police, municipal court, public works department, fire
station and conference center. The City prcscntly proposes to provide for thc payment of such
certificates of obligation by the levy of ad valorem taxes and a pledge of all or part of the revenues
of the City's waterworks and sewer system.