1998-04-27 Regular Meeting of City Council

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. -- RESOLUTION NO. 98-~ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, ADOPTING THE OFFICIAL NOTICE OF SALE AND OFFICIAL STATEMENT FOR THE 1998 SERIES GENERAL OBUGA TION BONDS AND THE 1998 SERIES WATERWORKS AND SEWER SYSTEM REVENUE BONDS. WHEREAS, the City of La Porte needs to complete various capital improvement projects; and WHEREAS, in thc~ 1985 Bonds Election, the voters of the City of La Porte approved the issuance of debt to fund said type of projects; and WHEREAS, the City of La Porte is of the opinion that the issuance of debt best provides the funding for the capital improvement projects; and WHEREAS, the City Council is of the opinion that the Official Notice of Sale and the Official Statement of the City should be adopted; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, THAT: Section 1. THAT, the Official Notice of Sale and Official Statement of the City of La Porte for the 1998 Series General Obligation Bonds and the 1998 Series Waterworks and Sewer System Revenue Bonds is hereby adopted; Section 2. That the City Council officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the offices of City of La Porte for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times during which this resolution and the subject matter thereof has been discussed, considered and formally acted upon. The City CCluncil further ratifies, approves and confirms such written notice and the contents and posting thereof. ~sr. ( itA tL )4.JJ.b// . a fia Gillett, City Secretary PASSED AND APPROVED this the 27th day of April, 1998. C OF LA PORTE, TEXAS . ~~~~- ~~~~i,1 ~Zc.,~ Knox Askins, City Attorney