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ORD 1997-31 - CO - Authorizing Publication - Notice - Chip Spreader 11-11-1997ORDINANCE NO. 97 -31 AN ORDINANCE AUTHORIZING PUBLICATION OF NOTICE TO BIDDERS AND NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION FOR ONE DIESEL POWERED CHIPSPREADER; AND MAKING VARIOUS PROVISIONS RELATED THERETO. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, that: SECTION 1: The City Secretary is hereby authorized and directed to cause to be published a notice to bidders and notice to issue Certificates of Obligation in substantially the following form: NOTICE TO BIDDERS AND NOTICE OF INTENTION TO ISSUE CERTIFICATE OF OBLIGATION BID NO. 98 -5 NOTICE IS HEREBY GIVEN that the City of Huntsville, Texas, is accepting bids for the purchase of one (1) diesel powered chipspreader. Bids will be accepted until 2:00 p.m., Tuesday, December 2, 1997, in the City Secretary's Off ce located at 1212 Avenue M, Huntsville, Texas. Bids will be opened in the council chambers, also located at 1212 Avenue M, beginning at 2: 00 p. m. The City Council tentatively proposes to let a contract for such purpose and to authorize issuance of a Certificate of Obligation, in accordance with the terms and provisions of this notice, at its December 9, 1997, meeting or at a subsequent meeting of the City Council in City Hall. Copies of specifications are on file and may be obtained or examined at the office of the Purchasing Department at City Hall at 1212 Avenue M. The City reserves the right to accept any bid deemed most advantageous, including alternates, to reject any or all bids, and to waive any informality. It is the intention of the City to pay all or any part of any contractual obligation to be incurred for such purchase by the issuance of a Certificate of Obligation of the City pursuant to Texas Local Government Code Chapter 271 and payable from City ad valorem taxes, in the maximum aggregate principal amount of $130,000, bearing interest at a rate not in excess of that prescribed by Texas Revised Civil Statutes Article 717k -2, and maturing over a period of years not to exceed 20 years from the date thereof. The successful bidder will be required to accept the Certificate of Obligation in payment of all or any part of the contract price. The City Council has made provisions for each contractor to sell and assign the Certificate of Obligation and each bidder is required to elect whether the contractor will accept the Certificate in payment of all or a part of the contract price, or assign the Certificate in accordance with such arrangements. To be published November 16 and 23, 1997. SECTION 2: The notice set forth in Section 1 shall be published once a week for two (2) consecutive weeks in the Huntsville Item, a paper that is of general circulation in the City of Huntsville and that has been duly designated as the official newspaper of the City. The date of first publication shall not be less than fourteen (14) days prior to the date set in the notice for the receipt and opening of bids by the City. SECTION 3: This ordinance shall take effect and be in full force and effect immediately after its passage. PASSED AND APPROVED this 11th day of November, 1997. ATTEST: Ai Danna Welter, City Secretary Scott Bounds, THE CITY OF HUNTSVILLE, TEXAS U—?, h'L) William B. Green, Mayor