HomeMy WebLinkAboutResolution 2017-017 RESOLUTION NO. 2017-b,}
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NORTH RICHLAND HILLS APPROVING AND
AUTHORIZING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE CERTIFICATES OF OBLIGATION,
AND PROVIDING AN EFFECTIVE DATE.
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 acquisition of fire
department vehicles and equipment, and (iv) 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 8th day of May, 2017, which certificates of obligation shall be issued in one or
more series in a principal amount not to exceed $7,960,000, 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 acquisition of fire
department vehicles and equipment, and (iv) 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.
23167264.3/11703074
PASSED AND APPROVED this the 27th day of March, 2017.
CITY OR 'IC. _ ► I HILLS
' .y' By: L'.
Mr or 1.1P-.
ATTEST: `®
City Secretary ' ,9IVdidltt' ,`;y\`'`
APPROVED AS TO GALITY:
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y Attorn-y
APPROVED AS TO CONTENT:
Finance Director
(City Seal)
S-1
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICHLAND HILLS, TEXAS
CERTIFICATES OF OBLIGATION, SERIES 2017
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 8th day of May, 2017, at the City Hall, 4301 City Point
Drive, 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 $7,960,000 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 acquisition of fire department vehicles and
equipment, and (iv) 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
23167264.3/11703074 A-1