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Home My WebLink AboutRES 1999-009 RESOLUTION NO. 99-09 A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1999 AND OTHER MATTERS RELATED THERETO AND PROVIDING AN EFFECTIVE DATE WHEREAS, the City of Grapevine, Texas (the "City"), pursuant to Articles 1111- 1118, Vernon's Annotated Texas Civil Statutes, as amended, is authorized to issue its waterworks and sewer system revenue bonds for the purposes of improving and extending the City's waterworks and sewer system and to pay the costs of issuing such bonds; and WHEREAS, the City Council of the City of Grapevine, Texas has found and determined that a notice of intention to issue its waterworks and sewer system revenue bonds should be published in accordance with the requirements of applicable law; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY - OF GRAPEVINE, TEXAS, THAT: �� -� Section 1. The findings and determinations set forth in the preambles hereto are hereby incorporated by reference for all purposes. Section 2. The City Secretary of the City is hereby authorized and directed to issue a notice of intention to issue its waterworks and sewer system revenue bonds in substantially the following form: "NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1999 "NOTICE IS HEREBY GIVEN that on March 2, 1999, the City Council of the City of Grapevine, Texas, 7:30 p.m. at a regular meeting of the City Council to be held at the City Hall, 200 Main Street, Grapevine, Texas, the regular meeting place of the City Council, intends to pass an ordinance authorizing the issuance of not to exceed $7,400,000 principal amount of Waterworks and Sewer System Revenue Bonds, Series 1999 for the purpose of improving and extending the City's waterworks and sewer system and to pay the costs of issuing such bonds. Such Bonds shall bear interest at a rate not to exceed fifteen percent (15%) per annum, and shall have a maximum maturity date of not later than forty (40) years after their date. Said Bonds shall be �, � payable from a lien on the net revenues derived from the operation of the City's . combined waterworks and sewer system sufficient to pay the interest on such bonds when due and to provide for the principal thereof as the same matures, as authorized by Articles 1111-1118, Vernon's Annotated Civil Statutes, as amended. "THIS NOTICE is given in accordance with law and as directed by the City Council of the City of Grapevine, Texas. "GIVEN THIS February 2, 1999. /s/ Linda Huff City Secretary City of Grapevine, Texas" Section 3. The foregoing notice shall be published once a week for two consecutive weeks, the date of the first publication being not less than the fourteenth (14th) day prior to the date set forth in the foregoing notice for passage of the ordinance authorizing the Waterworks and Sewer System Revenue Bonds, Series 1999. Such notice shall be published in a newspaper of general circulation in the area of the City of Grapevine, Texas. Section 4. That this resolution shall become effective from and after the date of its final passage. - � PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 2nd day of February, 1999. APPROVED: �#� William D. Tate Mayor ATTEST: �ti� Linda Huff � ' City Secretary �,w RES. NO. 99-09 2 APPROVED AS TO FORM: . ,. .Y„r `"��. ...., .. �. . Jahr► F. Boy1e, .�r, °` City Attorney RE�. NO. ss-o� 3 c MINUTES AND CERTIFICATION PERTAINING TO PASSAGE OF A RESOLUTION STATE OF TEXAS § COUNTY OF TARRANT § CITY OF GRAPEVINE§ On the 2nd day of Februaury, 1999,the City Council of the City of Grapevine, Texas,convened at 7:30 p.m., in a regular meeting at the regular meeting place thereof,the meeting being open to the public and notice of said meeting,giving the date,place and subject thereof,having been posted as prescribed by Chapter 551,Texas Government Code,as amended; and the roll was called of the duly constituted officers and members of the City Council,which officers and members are as follows: William D. Tate,Mayor C. Shane Wilbanks ) Ted R. Ware,Mayor Pro Tem Sharron Spencer ) Clydene Johnson ) Membes of Darlene J. Freed ) the Council Roy Stewart ) and all of said persons were present except ,thus constituting a quorum. Whereupon, among other business, a written resolution bearing the following caption was introduced: A RESOLUTION RELATING TO THE GIVING OF NOTICE OF INTENTION TO ISSUE CITY OF GRAPEVINE,TEXAS WATERWORKS AND SEWER SYSTEM . REVENUE BONDS, SERIES 1999 AND OTHER MATTERS RELATED TI�RETO 'The Resolution,a full,hue and correct copy of which is attached hereto,was read and reviewed by the City Council. Thereupon, it was duly moved and seconded that the Resolution be finally passed and adopted. The Presiding Officer put the motion to a vote of the members of the City Council,and the Resolution was finally passed and adopted by the following vote: AYES: � NOES: 'O ABSTENTIONS: � �.. 6.1VtES_NINT Ol/22/99:(L lOpm) sa�r.� MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT, and to correctly ° reflect the duly constituted officers and members of the City Council of said City,and the attached and following copy of said Resolution is hereby certified to be a true and correct copy of an official copy thereof on file among the official records of the City, all on this the 2nd day of Februaury, 1999. � City Se ry City of Grapevine, Texas [SEAL] �..� �� 6.IUtES NINT Ol/22/99:(l:lOpm)