Resolution 2017-01 - Reso. 2017-01 - Council statement on bond election - 10-16RESOLUTION NO. 2017-01
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, AS TO
THE PRINCIPAL AND INTEREST PAYMENTS ASSOCIATED WITH PROPOSITIONS 1, 2,
AND 3 ON THE NOVEMBER 8, 2016 BALLOT.
WHEREAS on August 16, 2016, the City Council of the City of Huntsville, Texas approved
Ordinance 2016-33 calling a special election for bond propositions for the
November 8, 2016 election ballot; and
WHEREAS Ordinance 2016-33 was passed by a unanimous vote of the City Council of
the City of Huntsville, Texas; and
WHEREAS prior to adoption of Ordinance 2016-33, the City Council carefully and
diligently reviewed independent studies and recommendations on items
included with Propositions 1, 2, and 3 on the November 8, 2016 ballot; and
WHEREAS as part of the review prior to adopting Ordinance 2016-33, the City Council
carefully considered and reviewed expiring debt and additional revenue
sources that will be used to pay the principal and interest payments
associated with Propositions 1, 2, and 3; and
WHEREAS it is believed the expiring debt and additional revenue sources will allow the
City to not have to increase ad valorem or utility rates for the purpose of
paying for the principal and interest associated with Propositions 1, 2, and 3.
NOW, THEREFORE, be it resolved by the City Council of the City of Huntsville, Texas,
that:
the above findings of fact are adopted by the City Council of the City of Huntsville, Texas.
PASSED AND APPROVED this 18th day of October 2016.
ATT ST:
oodwarr City Secretary
HE C1T
F HUNTSVILLE
I ti.Lard/b.— ..•Din D au Inger, May•
APPROVED AS TO FORM:
eider, City Attorney