HomeMy WebLinkAboutRES 1985-039 �""=
RESOLUTION NO. 85-39
A RESOLUTION AUTHORIZING THE SALE OF
CITY OF GRAPEVINE, TEXAS, WATERWORKS
"'"""'°'�' AND SEWER SYSTEM REVENUE BONDS, SERIES 1985
NOT TO EXCEED $4,500,000
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE,
TEXAS:
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 24th day of September, 1985, the City
of Grapevine, Texas, at a Special Meeting of the City Couneil to be held at the City
Hall, 413 Main Street, 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 e�ending the City's
Water and Sewer System. Said Bonds shall be issued in an amount not to exceed
"� � Four Million, Five Hundred Thousand Dollars ($4,500,000); they shall bear interest at
a rate not to exceed Fifteen Per Cent (15%) per annum, and shall have a maximum
���, maturity date of not later than Forty (40) years after their date. Said Bonds shall be
secured by 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
an 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. se ., V.A.T.C.S., as
amended and supplemented.
"THIS NOTICE is given in accordance with law a.nd as directed by the City
Council of the City of Grapevine, Texas.
"GIVEN this the day of , 1985.
City Secreta.ry"
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2. The foregoing Notice shall be published in a newspaper of general
circulation in the area on the same day of two successive weeks, the first of which
publications shall be at least fourteen (14) days prior to the date set forth in the
foregoing Notice for passage of the Ordinance authorizing said Waterworks and
�°P-� Sewer System Revenue Bonds.
ADOPTED AND APPROVED this the 6th day of August, 1985.
�
G�Zi��
Mayor, City of Grapevine, Texas
ATTEST:
Cit Secretary, C ty of Grapevine,
Texas
APPROVED:
�
City Attorney, City of Gra ine,
Texas
(SEAL)
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