HomeMy WebLinkAboutRES 1995-017 �
RESOLUTION NO. g5-�7
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
� GRAPEVINE, TEXAS AUTHORIZING THE PUBLICATION OF
NOTICE OF INTENTION TO ISSUE NOT TO EXCEED
53,840,000 CITY OF GRAPEVINE, TEXAS WATERWORKS
AND SEWER REVENUE BONDS; AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the City Council of the City of Grapevine, Texas (the "City") has
found and determined that it is in the best interests of the citizens of the City that one
or more series of bonds be issued for the purpose of improving and extending the
City's waterworks and sewer system; and
WHEREAS, it is required that prior to the sale thereof, notice of intention to
issue such bonds must be given in accordance with the laws of the State of Texas.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, THAT:
�
'� Section 1 . The City Secretary of the City is hereby authorized and directed to
publish notice in substantially the following form:
"NOTICE OF INTENTION TO ISSUE
WATERWORKS AND SEWER SYSTEM REVENUE BONDS
STATE OF TEXAS
COUNTIES OF TARRANT, DALLAS AND DENTON
CITY OF GRAPEVINE
NOTICE IS HEREBY GIVEN THAT on the 18th day of July, 1995, the City
Council of the Grapevine, Texas, at the regular meeting place of the City Council, at
7:30 p.m., intends to adopt an ordinance authorizing the issuance of not to exceed
$3,840,000 principal amount of waterworks and sewer system revenue bonds for the
purpose of improving and extending the City's waterworks and sewer system. Said
' 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 systems, sufficient to pay the interest
on said bonds as due and to provide for the payment of the principal thereof as the
same matures, as authorized by Vernon's Texas Revised Civil Statutes Annotated,
,,�, Article 1 1 1 1 , et.seq., as amended and supplemented.
THIS NOTICE IS GIVEN in accordance with law and as directed by the City
� Council of the City of Grapevine, Texas.
� GIVEN THIS 2oth day of June, 1995.
/s/Linda Huff, City Secretary
City of Grapevine, Texas"
Section 2. The foregoing notice shall be published in a newspaper of general
circulation within the City once a week for two consecutive weeks, the date of the
first publication being at least fourteen (14) days prior to the date set forth in the
foregoing notice for passage of the ordinance authorizing the issuance of the above
described bonds.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF '
GRAPEVINE, TEXAS on this the 20th day of .lune , 1995.
APPROVED:
�
;�,�,,, William D. Tate
Mayor ',
ATTEST:
Linda uff
City Secretary
APPROVED AS FORM:
��
�� � � '
�, ..
John F. Boyle, Jr.
City Attorney
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RES. NO. 95-17 2