HomeMy WebLinkAboutResolution 1991-048
RESOLUTION NO. 91-48
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) street improvements,
including related right-of-way acquisition, utility lines relocation and drainage and (ii)
professional services; 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 stated (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: That the City Secretary is hereby authorized and directed to cause
notice to be published of the Council's intention to issue certificates of obligation in the
principal amount not to exceed $900,000 for the purpose of paying contractual obligations
to be incurred for (i) street improvements, including related right-of-way acquisition, utility
lines relocation and drainage and (ii) professional services, such certificates to be payable
from ad valorem taxes and a limited pledge of the net revenues of the Citýs combined
Waterworks and Sanitary 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: That 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 December 23,1991.
Mayor
City of North
ATTEST:
y Secretary
ity of North Richland Hills, Texas