Resoluution No. 2022-4RESOLUTION NO. 2022-4
RESOLUTION EXPRESSING OFFICIAL INTENT TO CANCEL AND ABANDON REMAINING AUTHORIZED BUT UNISSUED WATERWORKS AND SEWER
SYSTEM REVENUE BOND AUTHORIZATION FROM PROPOSITION 3 OF THE
CITY'S NOVEMBER 8, 2016 BOND ELECTION
WHEREAS, pursuant to Proposition 3 of the bond election held within the City of
Huntsville, Texas (the "City") on November 8, 2016, the City is authorized to issue up to
$73,000,000 waterworks and sewer system revenue bonds (the "Proposition 3"); and
WHEREAS, on June 2018, the City issued $45,840,000 of its Water and Wastewater
System Revenue Bonds, Series 2018 (the "Series 2018 Revenue Bonds") from the Proposition 3
voted authorization; and
WHEREAS, the projects to be financed by Proposition 3 bond funding have been
accomplished through the issuance of the Series 2018 Revenue Bonds and the remaining
$27, 160,000 authorized but unissued bond authorization from Proposition 3 is no longer needed
and the City Council of the City hereby finds, considers and declares their intent to cancel and
abandon the remaining authorized but unissued bond authorization from Proposition 3.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS:
Section I. The City hereby cancels and abandons the remammg authorized but
unissued bond authorization from Proposition 3 since the funding of such water and sewer projects
were accomplished by the issuance of the Series 2018 Revenue Bonds.
Section 2. All recitals herein are adopted as if set forth in the body of this Resolution.
Section 3. Each of the Mayor, City Manager and Director of Finance shall be and they
are hereby expressly authorized, empowered, and directed from time to time and at any time to do
and perform all such acts and things and to execute, acknowledge, and deliver in the name and
under the corporate seal and on behalf of the City all such instruments, whether or not herein
mentioned, as may be necessary or desirable in order to carry out the intent, the terms, and the
provisions of this Resolution.
City or Huntsville: Auth Abandonment Res