HomeMy WebLinkAboutResolution 1988-025
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RESOLUTION NO. 88-25
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) constructing and equipping a municipal golf
course, including a clubhouse and maintenance/storage
¡~cilities and the purchase of equipment and machinery for
:¡-,.:iintaining and operating such golf course, and (ii)
professional services rendered in connection therewith; 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 cert i fica tes, (i i) 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:
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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 $4,500,000 for the purpose of paying con-
tractual obligations to be incurred for (i) constructing and
equipping a municipal golf course, including a clubhouse and
maintenance/storage facilities and the purchase of equipment
and machinery for maintaining and operating such golf course,
and (ii) professional services rendered in connection
therewith, such certificates to be payable from ad valorem
taxes and a lien on and pledge of the net revenues derived from
the ownership and operation of the City's municipal golf course
facilities. The notice hereby approved and authorized to be
published shall read substantially in the form and content or
Exhibit A hereto attached and incorporated herein by reference
as a part of this resolution for all purposes.
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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 (l5)
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 the 8th day of August, 1988.
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Mayor, City f North Richland
Hills, Texas
ATTEST:
C· y Secretary, City of
N rth Richland Hills, Texas
(City Seal)
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