HomeMy WebLinkAboutResolution No. 02-27 CITY OF THE COLONY, TEXAS
RESOLUTION NO. O:-Q '",,9-'~
A RESOLUTION DIRECTING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFCIATES OF OBLIGATION
THE STATE OF TEXAS § '
COUNTY OF DENTON §
CITY OF THE COLONY §
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 hereby officially found and determined that the meeting at
which this Resolution was passed was open to the public and public notice of the time,
place and purpose of said meeting was given, all as required by Chapter 551, Texas
Government Code.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCL OF THE
CITY OF THE COLONY, TEXAS:
1. That attached here is a form of the Notice of Intention to Issue Certificates
of Obligation of the City of the Colony, Texas, the form and substance of
which is hereby adopted and approved.
2. That the City Secretary shall cause said notice to be published in
substantially the form attached hereto, in a newspaper, as defined by
Subchapter C, Chapter 2051, Texas Government Code, of general
circulation in the area of said City, on the same day in each of two
consecutive weeks, the date of the first publication thereof to be at least 14
days prior to the time set for the adoption of the ordinance authorizing the
issuance of such certificates of obligation as show in said notice.
3. That this Resolution shall become effective immediately upon adoption.
PASSED AND APPROVED by the City CQ~t~__ncil this ../"~'t~day of~
2002.
Patti A. Hicks, TRMC, City Secretary
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION OF THE CITY OF THE COLONY, TEXAS
NOTICE IS HEREBY GIVEN that the City Council of the City of The Colony, Texas, at
its meeting to commence at 7:00 P.M. on August 5, 2002, at its regular meeting place in the City
Hall, 6800 Main Street, The Colony, Texas, tentatively proposes to adopt an ordinance authorizing
the issuance of interest bearing certificates of obligation, in one or more series, in an amount not to
exceed $14,000,000 for paying all or a portion of the City's contractual obligations incurred in
connection with (i) constructing and improving streets and alleys, and acquisition of street repair and
maintenance equipment, (ii) improving and equipping municipal parks and recreation center and
acquisition of park maintenance equipment, (iii) additions, extensions and improvements to the
City's waterworks and sewer system, (iv) installing and constructing storm water drainage
improvements, (v) acquisition of telecommunications and computer equipment and software for
municipal offices and departments, (vi) acquisition of vehicles and equipment for police, fire, public
works, utility and parks and recreation departments, (vii) renovation and equipment of the Old
Library building for convention and community recreation facilities, (viii) renovation and equipment
of fire stations, and (ix) legal, fiscal and engineering fees in connection with such projects. The City
proposes to provide for the payment of such certificates of obligation from the levy and collection
of ad valorem taxes in the City as provided by law and from a pledge of limited surplus revenues of
the City's waterworks and sewer system, remaining after payment of all operation and maintenance
expenses thereof, and all debt service, reserve, and other requirements in connection with all of the
City's revenue bonds or other obligations (now or hereafter outstanding), which are payable from all
or any part of the net revenues of the City's waterworks and sewer system. The certificates of
obligation are to be issued, and this notice is given, under and pursuant to the provisions of
V.T.C.A., Local Government Code, Subchapter C of Chapter 271.
CITY OF THE COLONY, TEXAS