HomeMy WebLinkAboutResolution No. 07-056
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RESOLUTION DIRECTING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF THE COLONY
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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 ofthe time, place and purpose of said
meeting was given, all as required by Chapter 551, 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 30 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.
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 20, 2007, 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 $14,750,000 for paying all or a portion of the City's contractual obligations incurred in
connection with (i) constructing and improving streets and roads, including signalization, landscaping,
lighting, signage and related drainage, (ii) constructing and equipping fire stations, (iii) constructing,
installing and equipping park improvements, (iv) landscaping right of way and public areas, (v)
professional fees for architectural services for design of public service building, (vi) constructing,
installing, acquiring and equipping additions, extensions and improvements to the City's waterworks
and sanitary sewer system, including a joint use water transmission line, (vii) acquisition of eqJ,lipment
and vehicles for the fire department, general administration, public works, parks and recreation, police
and building inspections departments and City Secretary's office, (viii) electronic message signs, (ix)
renovating the municipal library and City Hall, (x) and the acquisition ofland and interests in land for
such projects, and (xi) 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 ofV.T.C.A,
Local Government Code, Subchapter C of Chapter 271.
CITY OF THE COLONY, TEXAS
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF THE COLONY
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in Regular Meeting on June 18, 2007, at the City Hall, and
the roll was called of the duly constituted officers and members of said City Council, to-\vit:
John Dillard, Mayor
Allen Harris, Deputy Mayor Pro Tern
Perry Schrag, Mayor Pro Tern
John S. Marshall, Councilmember
Joseph McCourry, Councilmember
Kirk Mikulec, Councihllember
Joel Marks, Councihnember
and all of said persons were present, thus constituting a quorum. Whereupon, among other business, the
follmving was transacted at said Meeting: a written
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION
was duly introduced for the consideration of said City Council and read in full. It was then duly moved and
seconded that said Resolution be passed; and, after due discussion, said motion carrying with it the passage
of said Resolution, prevailed and carried by the following vote:
AYES:
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,er-
NOES:
2. That a true, full and correct copy of the aforesaid Resolution passed at the Meeting described in
the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been
duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true,
full and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said
Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and
acting officers and members of said City Council as indicated therein; that each of the officers and members
of said City Council was duly and sufficiently notified officially and personally, in advance, of the time, place
and purpose of tlle aforesaid Meeting, and that said Resolution would be introduced and considered for passage
at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting
for such purpose, and that said Meeting 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.
3. That the Mayor of said City has approved and hereby approves the aforesaid Resolution; that the
Mayor and the City Secretary of said City have duly signed said Resolution; and that the Mayor and the City
Secretary of said City hereby declare that their signing of this Certificate shall constitute the signing of the
attached and following copy of said Resolution for all purposes.
PASSED, APPROVED AND EFFECTIVE June 18,2007.
ATTEST:
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[CITY SEAL]
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