1998-06-22 Regular Meeting of City Council

Browse Search

e e CG(Q)~W RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE REVENUE BONDS WHEREAS, the City Council (the "City Council") of the City of La Porte, Texas (the "City"), finds that the construction of improvements to the City's waterworks and sewer system and the payment of contractual obligations for professional services in connection therewith (including, but not limited to, financial advisory, legal, and engineering) would be beneficial to the inhabitants of the City and such property is needed to perform essential governmental functions, and the City Council has determined that revenue bonds (the "Bonds") should be issued pursuant to the applicable laws of the State of Texas, including Articles 1111 through 1118, Vernon's Texas Civil Statutes, for such purposes; WHEREAS, prior to the issuance of the Bonds, the City Council is required to publish notice of its intention to issue the Bonds 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 Bonds, (ii) the maximum amount of Bonds proposed to be issued, (iii) the purposes for which the Bonds are to be issued, and (iv) the manner in which the City Council proposes to pay the Bonds; 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 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 14 days prior to the date tentatively set for the ordinance authorizing the issuance of the Bonds. SECTION 3. The Mayor and the City Secretary are hereby authorized and directed to execute the Certificate to which this Resolution is ~ttached on behalf of the City Council and to do any of all things proper and n~cessary to carry out the intent thereof. . . .