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RESO 1998-08 - CO DrainageRESOLUTION NO. 98 -08 A RESOLUTION approving and authorizing publication of notice of intention to issue certificates of obligation. WHEREAS, the City Council of the City of Huntsville, Texas, has determined that certificates of obligation should be issued under and pursuant to the provisions of V.T.C.A., Local Govemment Code, SubchapterC of Chapter 271 (the "Act "), for the purpose of paying contractual obligations to be incurred for (i) street improvements, including the acquisition of land and rights - of -way therefor and drainage incidental thereto and (ii) professional services rendered in relation to such improvements and the financing thereof; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in accordance with the provisions of the Act; 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 published of the Council's intention to issue certificates of obligation during a meeting scheduled to begin at 5:30 P.M. on the 18t day of September, 1998, which certificates of obligation shall be issued in a principal amount not to exceed $12,000,000, for the purpose of paying contractual obligations to be incurred for (i) street improvements, including the acquisition of land and rights - of -way therefor and drainage incidental thereto and (ii) professional services rendered in relation to such improvements and the financing thereof, and shall be payable from ad valorem taxes and net revenues derived from the operation of the City's combined Waterworks and Sewer System in a limited amount and in a subordinate manner as provided in the aforesaid ordinance. The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2: The City Secretary shall cause the aforesaid notice to be published in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least fifteen (15) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. PASSED AND ADOPTED, this August 4, 1998. ATTEST: City Secretary, City of Huntsville, Texas (City Seal) 717713.1 Mayor, City of Huntsville, Texas APPROV Sco ound , City Attorney EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF HUNTSVILLE, TEXAS CERTIFICATES OF OBLIGATION TAKE NOTICE that the City Council of the City of Huntsville, Texas, shall convene at 5:30 o'clock P.M. on the 1st day of September, 1998, at the City Hall, 1212 Avenue M. Huntsville, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation in an amount not to exceed $12,000,000 for the purpose of paying contractual obligations to be incurred for (i) street improvements, including the acquisition of land and rights -of -way therefor and drainage incidental thereto and (ii) professional services rendered in relation to such improvements and the financing thereof; such certificates to be payable from ad valorem taxes and net revenues of the City's combined Waterworks and Sewer System in a limited amount and in a subordinate manner as provided in the aforesaid ordinance. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Govemment Code, Subchapter C of Chapter 271. Danna Welter City Secretary, City of Huntsville, Texas 717713.1