HomeMy WebLinkAboutResolution 1986-017
RESOLUTION NO. 86-17
A RESOLUTION approving and authorizing the giving of
notice of intention to issue revenue bonds.
WHEREAS, the City Council of the City of North Richland
Hi lIs, Texas, has determined that revenue' bonds in an amount
not to exceed $4,200,000 should be issued in accordance with
the provisions of Articles 1111 et seq. and 2368a, V.A.T.C.S.
to finance the costs of improvements and extensions to the
City's combined Waterworks and Sanitary Sewer System; and
WHEREAS,
the Counci 1 is
issue the same
therefore,
prior to the issuance of said revenue bonds,
required to give notice of its intention to
in the manner and time provided by law; now,
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 given of the Council's
intention to meet on the 12 th day of May, 1986, to pass an
ordinance and take such action as will be necessary to
authorize the issuance of revenue bonds in an amount not to
exceed $4,200,000 for const ructing improvements and extens ions
to the City's combined Waterworks and Sanitary Sewer System.
The notice hereby approved and authorized to be given shall
read substantially in the form and content of Exhibit A
attached hereto and incorporated herein by reference as a part
of this resolution for all purposes.
SECTION 2: That such notice shall be (i) published once
a week for two consecutive weeks in a newspaper having general
ci rculation in the City of North Richland Hi lIs, Texas (there
being no newspaper published in the City) and (ii) posted at
City Hall, the date of posting at the City Hall and the date of
the first publication of such notice to be at least fourteen
(14) days prior to the date stated therein for the passage of
the ordinance authorizing the issuance of the revenue bonds.
PASSED AND ADOPTED, this the
14~f 2;};i86'
Mayor, City of
North Richland Hills, Texas
ATTEST:
(J'¿¿¿~¿{lZ7> '<¿..c...¿~",
ty Secretary, City of
G orth Richland Hills, Texas
(City Seal)
E:;(\-\\8\1 A
NOTICE OF INTENTION TO ISSUE
CITY OF NORTH RICHLAND HILLS, TEXAS, REVENUE BONDS
NOTICE IS HEREBY GIVEN that the City Council of the City
of North Richland Hi lIs, Texas, sha 11 convene at 7: 30 0' clock
P.M. on the 12th day of May, 1986, at its regular meeting place
in the City Hall and during such meeting, the Council will
consider the passage of an ordinance authorizing the issuance
of revenue bonds in a principal amount not to exceed $4,200,000
for constructing improvements and extensions to the City's
combined Waterworks and Sanitary Sewer System. Such bonds
shall mature not later than December 31, 2006 and bear interest
at such rate or rates (not to exceed 15% per annum) as
determined by the City Council. Such bonds, together with
certain outstanding revenue bonds of the City, shall be payable
solely from and equally secured by a first lien on and pledge
of the net revenues of the City's combined Waterworks and
Sanitary Sewer System.
The holder of such bonds shall never have the right to
demand payment out of any funds raised or to be raised by
taxation.
This Notice is issued pursuant to authori ty and
di rection of the Ci ty Counci 1 of the Ci ty of North Richland
Hills, Texas, and in accordance with the provisions of Article
2368a, V.A.T.C.S.