HomeMy WebLinkAboutResolution No. 03-20 CITY OF THE COLONY
RESOLUTION NO. 03~,~'~19
DIRECTING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE CERTIFICATES 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 55 i, Texas Government Code.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
1. That attached hereto 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
shown in said notice.
3. That this Resolution shall become effective immediately upon adoption.
PASSED AND APPROVED this 4th day of August 2003.
J~cCourry//Mayor ~rof~
Patti A. K!ic._kz, 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 September 8, 2003, 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 $5,200,000 for paying all or a portion of the City's contractual obligations
incurred in connection ~vith (i) constructing and improving streets and roads, including
signalization, landscaping, lighting and signage, and the acquisition of land and interests in land
as necessary therefore, (ii) acquisition of telecommunications and computer equipment and
software for municipal offices and departments, (iii) acquisition of vehicles and equipment for
police, fire, public works and parks and recreation departments, (iv) renovation, furnishing and
equipment of existing municipal buildings, including additions to the police and municipal courts
building, (v) constructing and equipping a building for performing arts, exhibits and meeting
rooms, and (vi) legal, fiscal and engineering fees in co~mection 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 require-
ments 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