HomeMy WebLinkAboutResolution 2003-031
RESOLUTION NO. 2003-031
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 V.T.C.A.,
Local Government Code, Subchapter C of Chapter 271 (the "Act"), for the purpose of paying
contractual obligations to be incurred for (i) a new library facility to be located in Hometown
NRH, including the purchase of land and for architectural services, (ii) park improvements, to
wit: constructing a multilevel interactive complex attraction at NRH20, and (iii) 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 RICH LAND
HILLS, TEXAS:
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 P.M. on the 28th day of April, 2003, which certificates of obligation shall be
issued in a principal amount not to exceed $3,700,000 for the purpose of paying contractual
obligations to be incurred for (i) a new library facility to be located in Hometown NRH, including
the purchase of land and for architectural services, (ii) park improvements, to wit: constructing a
multilevel interactive complex attraction at NRH20, and (iii) professional services rendered in
relation to such projects and the financing thereof, and shall be payable from ad valorem taxes
and a pledge of the surplus net revenues of the City's combined Waterworks and Sewer System
(the "System") remaining after payment of operating and maintenance expenses of the System
and payments for "Prior Lien Obligations" (as defined in said ordinance). 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 fifteen (15) days prior to the date stated therein for the
passage of the ordinance authorizing the issuance of the certificates of obligation.
SECTION 3: It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and
subject matter of the public business to be considered at such meeting, including this
Resolution, was given, all as required by V.T.C.A., Government Code, Chapter 551, as
amended.
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SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
PASSED AND ADOPTED, this March 24, 2003.
CITY OF NORTH RICHLAND HILLS,
TEXAS
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Mayor
ATTEST:
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City Secretary
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