RESO 1997-02 - Revenue BondsA RESOLUTION approving and authorizing the giving of
notice of intention to issue revenue bonds.
WHEREAS, the City Council of the City
has determined that revenue bonds should be
with the provisions of Articles 1111 et seq.
to finance the costs of making improvements
City's combined Waterworks and Sewer System,
collection and treatment facilities; and
of Huntsville, Texas,
issued in accordance
and 2368a, V.A.T.C.S.
and extensions to the
including wastewater
WHEREAS, prior to the issuance of said revenue bonds, the
Council is required to give notice of its intention to issue the
same in the manner and time provided by law; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS:
SECTION 1: The City Secretary is hereby authorized and
directed to cause notice to be given of the Council's intention to
meet at 5:30 o'clock P.M. on the llth day of March, 1997, and,
during such meeting, consider the passage and adoption of an
ordinance authorizing the issuance of revenue bonds in an amount
not to exceed $14,395,000 for the purpose of making improvements
and extensions to the City's combined Waterworks and Sewer System,
including wastewater collection and treatment facilities. The
notice hereby approved and authorized to be given shall read
substantially in the form and content of Exhibit A attached hereto
and incorporated herein by reference as a part of this resolution
for all purposes.
SECTION 2: Such notice shall be published once a week for
two consecutive weeks in a newspaper published and having general
circulation in the City of Huntsville, Texas, the date of the
first publication of such notice to be at least fourteen (14) days
prior to the date stated therein for the passage and adoption of
the ordinance authorizing the issuance of the revenue bonds.
PASSED AND ADOPTED, this February 4, 1997.
ATTES
City Secretary, City o
Huntsville, Texas
(City Seal)
0398701
Mayor, City of
Huntsville, Texas
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF HUNTSVILLE, TEXAS, REVENUE BONDS
NOTICE IS HEREBY GIVEN that the City Council of the City of
Huntsville, Texas, shall convene at 5:30 o'clock P.M. on the llth
day of March, 1997, at its regular meeting place in the City Hall,
1212 Avenue M, Huntsville, Texas, and during such meeting, the
Council will consider the passage and adoption of an ordinance
authorizing the issuance of revenue bonds in a principal amount
not to exceed $14,395,000 for the purpose of making improvements
and extensions to the City's combined Waterworks and Sewer System,
including wastewater collection and treatment facilities. Such
revenue bonds shall mature not later than December 31, 2017 and
bear interest at such rate or rates (not to exceed 10% per annum)
as determined by the City Council. Such bonds shall be payable
solely from and equally secured by a lien on and pledge of the net
revenues of the City's combined Waterworks and Sewer System.
The holder of such bonds shall never have the right to
demand payment out of any funds raised or to be raised by
taxation.
This Notice is issued pursuant to authority and direction
of the City Council of the City of Huntsville, Texas, and in
accordance with the provisions of Article 2368a, V.A.T.C.S.
Danna Welter
City Secretary,
City of Huntsville, Texas
0398737