R-2004-20 authorize publication of notice to issue certificates of obligation

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. e i1~ .~.JD RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION . TO ISSUE CERTIFICATES OF OBLIGATION WHEREAS, the City Council (the "City Council") of the City of La Porte, Texas (the "City"), finds that financing of the construction of street improvements and extensions to wit: extending Fairmont Parkway to Spencer Highway and designing and constructing Canada Road from Fairmont Parkway to Spencer Highway; the purchase of 9.14 acres to be used for the site of a new police headquarters; and payment of contractual obligations for professional services in connection therewith (to wit: architectural, engineering, financial advisory, and legal) would be beneficial to the inhabitants of the City and that such property is needed to perform essential governmental functions, and the City Council has determined that certificates of obligation (the "Certificates of Obligation") should be issued pursuant to the applicable laws of the State of Texas, including Chapter 271, Texas Local Government Code, for such purposes; . WHEREAS, prior to the issuance of the Certificates of Obligation, the City is required to publish notice of its intention to issue the Certificates of Obligation (the "Notice") in a newspaper of general circulation in the City, the notice stating (i) the time and place the City Council tentatively proposes to pass the ordinance authorizing the issuance of the Certificates of Obligation, (ii) the maximum amount of Certificates of Obligation proposed to be issued, (Hi) the purposes for which ~e Certificates of Obligation are to be issued, and (iv) the manner in which the City Council proposes to pay the Certificates of Obligation; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, THAT: SECTION 1. Attached hereto and marked "Exhibit A" is a form of the Notice, the form and substance of which are hereby adopted and approved. SECTION 2. The Mayor or. the City Secretary shall cause the Notice to be published, in substantially the form attached hereto, in a newspaper, as defined in Section 2051.044, Texas Government Code, of general circulation in the City for two consecutive weeks, the date of first publication to be at least ] 4 days prior to the date tentatively set for the ordinance authorizing the issuance of the Certificates of Obligation. SECTION 3. The Mayor and the City Secretary are hereby authorized and directed to execute the Certificate to which this Resolution is attached on behalf of the City Council and to do any or all things proper and necessary to carry out the intent thereof. . . .