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HomeMy WebLinkAboutResolution 1996-028 RESOLUTION NO. 96-28 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, for the purpose of paying contractual obligations to be incurred for (i) the construction of drainage improvements, including the widening of existing drainage ditches and concreting ditches to inhibit and prevent erosion, and (ii) professional services rendered in relation to such construction 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 a newspaper of general circulation in the City, said notice stating (i) the time and place the Council tentatively proposes to pass the ordinance authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued, (Hi) the purposes for which the certificates are to be issued and (iv) the manner in which the Council proposes to pay the certificates; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: SECTION 1: The City Secretary is hereby authorized and directed to cause notice to be published of the Council's intention to meet on the 13th day of May, 1996, and, during such meeting, consider the adoption of an ordinance authorizing issuance of certificates of obligation in the principal amount not to exceed $1,150,000 for the purpose of paying contractual obligations to be incurred for (i) the construction of drainage improvements, including the widening of existing drainage ditches and concreting ditches to inhibit and prevent erosion, and (ii) professional services rendered in relation to such construction and the financing thereof, such certificates to be payable from ad valorem taxes and a lien on and pledge of the net revenues derived from the operation of the City's Municipal Drainage Utility 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 fifteen (15) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. PASSED AND ADOPTED, this April 22, 1996. CITY OF NORTH RICH LAND HILLS, TEXAS ~ Mayor ATTEST: r-?áf/U(;¡tX .)k~ ~ City Secretary (City Seal) 2 RESOLUTION NO. 96-28 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, for the purpose of paying contractual obligations to be incurred for (i) the construction of drainage improvements, including the widening of existing drainage ditches and concreting ditches to inhibit and prevent erosion, and (ii) professional services rendered in relation to such construction 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 a newspaper of general circulation in the City, said notice stating (i) the time and place the Council tentatively proposes to pass the ordinance authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued, (iii) the purposes for which the certificates are to be issued and (iv) the manner in which the Council proposes to pay the certificates; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH RICHLAND HILLS, TEXAS: SECTION 1: The City Secretary is hereby authorized and directed to cause notice to be published of the Council's intention to meet on the 13th day of May, 1996, and, during such meeting, consider the adoption of an ordinance authorizing issuance of certificates of obligation in the principal amount not to exceed $1,150,000 for the purpose of paying contractual obligations to be incurred for (i) the construction of drainage improvements, including the widening of existing drainage ditches and concreting ditches to inhibit and prevent erosion, and (ii) professional services rendered in relation to such construction and the financing thereof, such certificates to be payable from ad valorem taxes and a lien on and pledge of the net revenues derived from t~e operation of the City's Municipal Drainage Utility 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 fifteen (15) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. PASSED AND ADOPTED, this April 22, 1996. CITY OF NORTH RICHLAND HILLS, TEXAS ~ Mayor ATTEST: r7at/[((;¡tX .~ \...- City Secretary (City Seal) 2 EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF NORTH RICH LAND HILLS. TEXAS. CERTIFICATES OF OBLIGATION TAKE NOTICE that the City Council ofthe City of North Richland Hills, Texas, shall convene at 7:30 o'clock P.M. on the 13th day of May, 1996, at the North Richland Hills Community Center in the Municipal Court Room, 6720 N.E. Loop 820, North Richland Hills, Texas, and, during such meeting, the City Council will consider the passage and adoption of an ordinance authorizing the issuance of certificates of obligation in an amount not to exceed $1,150,000 for the purpose of paying contractual obligations to be incurred for (I) the construction of drainage improvements, including the widening existing drainage ditches and concreting ditches to inhibit and prevent erosion, and (ii) professional services rendered in relation to such construction and the financing thereof, such certificates to be payable from ad valorem taxes and a lien on and pledge of the net revenues derived from the operation of the City's Municipal Drainage Utility System. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271. Patricia Hutson City Secretary, City of North Richland Hills, Texas