HomeMy WebLinkAboutResolution 2016-002 RESOLUTION NO. 16-
A RESOLUTION APPROVING AND AUTHORIZING
PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION.
WHEREAS, the City Council of the City of North Richland Hills, Texas, has determined
that certificates of obligation should be issued under and pursuant to the provisions of Texas
Local Government Code, Subchapter C of Chapter 271, as amended (the "Act"), for the purpose
of paying contractual obligations to be incurred for (i) street improvements, including drainage,
landscaping, curbs, gutters, sidewalks, entryways, signage, lighting and traffic signalization
incident thereto and the acquisition of land and rights-of-way therefor, (ii) park and recreation
improvements, including the acquisition of equipment therefor, (iii) the purchase of municipal
equipment and machinery, to wit: an ambulance, an excavator, and a street sweeper,
(iv) constructing, acquiring, purchasing, renovating, enlarging, equipping, and improving water
and sewer system, including the acquisition of land and rights-of-way therefor, and
(v) professional services rendered in relation to such projects and the financing thereof; and
WHEREAS, prior to the issuance of such certificates, the City Council is required to
publish notice of its intention to issue the same in accordance with the provisions of the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
NORTH RICHLAND HILLS, TEXAS THAT:
SECTION 1
The City Secretary is hereby authorized and directed to cause notice to be published of
the Council's intention to issue certificates of obligation during a meeting scheduled to begin at
7:00 pm. on the 22nd day of February, 2016, which certificates of obligation shall be issued in
one or more series in a principal amount not to exceed $6,000,000, for the purpose of paying
contractual obligations to be incurred for (i) street improvements, including drainage,
landscaping, curbs, gutters, sidewalks, entryways, signage, lighting and traffic signalization
incident thereto and the acquisition of land and rights-of-way therefor, (ii) park and recreation
improvements, including the acquisition of equipment therefor, (iii) the purchase of municipal
equipment and machinery, to wit: an ambulance, an excavator, and a street sweeper,
(iv) constructing, acquiring, purchasing, renovating, enlarging, equipping, and improving water
and sewer system, including the acquisition of land and rights-of-way therefor, and
(v) professional services rendered in relation to such projects and the financing thereof; such
certificate to be payable from ad valorem taxes and a limited pledge of the net revenues derived
from the operation of the City's combined Waterworks and Sewer System. The notice hereby
approved and authorized to be published shall read substantially in the form and content of
Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for
all purposes.
SECTION 2
The City Secretary shall cause the aforesaid notice to be published in a newspaper of
general circulation in the City, once a week for two consecutive weeks, the date of the first
publication to be at least thirty-one (31) days prior to the date stated therein for the passage of
the ordinance authorizing the issuance of the certificates of obligation.
49495304.1/08014160
PASSED AND APPROVED this the 11th day of January, 2016.
CIT • ' NOR ICHL, ► I -ILLS
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�.' n .,,�'_ •scar Trevino, Mayor
ATTEST:
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Alicia Richardson, City Secr ql' �y`,�
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APP-,I,44.,
/ D S TO FORM AND LEGALITY:
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George A. S aples, ity Attorney
APPR VED AS TO CONTENT:
Kent stin, Dir for of Finance
(City Seal)
49495304.1/08014160 S-1
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICHLAND HILLS, TEXAS
CERTIFICATES OF OBLIGATION, SERIES 2016
TAKE NOTICE that the City Council of the City of North Richland Hills, Texas, shall
convene at 7:00 o'clock P.M. on the 22nd day of February, 2016, at the City Hall, 7301 N.E.
Loop 820, North Richland Hills, Texas, and, during such meeting, the City Council will consider
the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more
series, in an amount not to exceed $6,000,000 for the purpose of paying contractual obligations
to be incurred for (i) street improvements, including drainage, landscaping, curbs, gutters,
sidewalks, entryways, signage, lighting and traffic signalization incident thereto and the
acquisition of land and rights-of-way therefor, (ii) park and recreation improvements, including
the acquisition of equipment therefor, (iii) the purchase of municipal equipment and machinery,
to wit: an ambulance, an excavator, and a street sweeper, (iv) constructing, acquiring,
purchasing, renovating, enlarging, equipping, and improving water and sewer system, including
the acquisition of land and rights-of-way therefor, and (v) professional services rendered in
relation to such projects and the financing thereof; such certificates to be payable from ad
valorem taxes and a limited pledge of the net revenues of the City's combined Waterworks and
Sewer System. The certificates are to be issued, and this notice is given, under and pursuant to
the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended.
Alicia Richardson, City Secretary
City of North Richland Hills, Texas
49495304.1/08014160 A-1