HomeMy WebLinkAboutResolution No. 08-058
CITY OF THE COLONY, TEXAS
RESOLUTION NO. 08- 0 S"E
RESOLUTION 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 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.
Signed and sealed this th day of July.
A~:
C .~I:".l LJ ~
Istie Wilson, 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 18,2008, 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 $1,700,000 for paying all or a
portion of the City's contractual obligations incurred in connection with: (i) acquiring vehicles, equipment,
computer equipment and software for the police, public works, development services and fleet departments;
(ii) acquiring and installing energy management system and fire suppression system for City Hall; (iii)
acquiring computer equipment and software for municipal departments in City Hall; (iv) acquiring furniture,
computer equipment and software for library; (v) acquiring vehicles and equipment for fire department, (vi)
acquiring and installing outdoor warning sirens; (vii) renovating and repairing the Recreation Center,
including floor and bleacher replacement, (viii) constructing and equipping park improvements and
renovations, and acquiring vehicles and equipment for the parks department; (ix) acquiring defibrillators, (x)
installing street lights; 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