HomeMy WebLinkAboutRES 1988-025 RESOLUTION NO. 88-25
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A RESOLUTION OF THE CITY OF GRAPEVINE, TEXAS,
' AUTHORIZING THE GIVING OF NOTICE OF INTENTION
TO ISSUE CITY OF GRAPEVINE, TEXAS , WATERWORKS
AND SEWER SYSTEM REVENUE BONDS, SERIES 1988
NOT TO EXCEED $6, 700, 000 AND PROVIDING AN
EFFECTIVE DATE
' BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE,
� TEXAS:
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� Section 1 . That the City Secretary of the City of
Grapevine, Texas, is hereby authorized and directed to issue
a Notice in substantially the following form:
"NOTICE OF INTENTION TO ISSUE WATERWORKS AND
SEWER SYSTEM REVENUE BONDS
THE STATE OF TEXAS �
� COUNTY OF TARRANT §
CITY OF GRAPEVINE §
� NOTICE is hereby given that on the 20th day of
�
� September, 1988, the City of Grapevine, Texas, at a
fRegular meeting of the City Council to be held at the
; Council Chambers, Municipal Court Room #205, 307 West
� Dallas Road, Grapevine, Texas, the regular meeting
place of the City Council, intends to pass an ordinance
; authorizing the issuance of Waterworks and Sewer System
! `�""" Revenue Bonds for the purpose of improving and
� extending the City' s Water and Sewer System. Said
� �� ,; Bonds shall be issued in an amount not to exceed Six
` Million Seven Hundred Thousand Dollars ($6, 700, 000) ;
they shall bear interest at a rate not to exceed
i Fifteen Per Cent (15�) per annum, and shall have a
k maximum maturity date of not later than Forty (40)
k years after their date. Said Bonds shall be secured by
i and payable solely from a first lien on and pledge of
; the net revenues of said City' s combined Waterworks and
� Sewer System, sufficient to pay the interest on this
� Series of Bonds as due and to provide for the payment
of the principal thereof as the same matures, as
authorized by Article 1111 et. seq. , V.A.T.C.S. , as
amended and supplemented.
THIS NOTICE is given in accordance with law and as
i directed by the City Council of the City of Grapevine,
Texas.
f
i GIVEN this the day of , 198g•
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City Secretary"
I'� Section 2. The foregoing Notice shall be published in a
� newspaper of general circulation in the area on the same day of
i of two successive weeks, the first of which publications shall be
t at least fourteen (14) days prior to the date set forth in the
foregoing Notice for passage of the Ordinance authorizing said
Waterworks and Sewer System Revenue Bonds .
; Section 3 . That this resolution shall become effective from
and after the date of its passage.
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PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 5th day of Jul� , 1988 .
APPROVED:
' � Mayor
I ATTEST:
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City Secretary
, APPROVED AS TO FORM:
� ��//�'� _ _
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; City Attorney
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