HomeMy WebLinkAboutResolution - 2168 - Notice - Certificates Of Obligation - Park Improvements - 10_10_1985r,
Resolution #2168
October 10, 1985
Agenda Item #27
A RESOLUTION approving and authorizing the publica-
tion of notice of intention to issue certi-
ficates of obligation.
WHEREAS, the City Council of the City of Lubbock, Texas,
has determined that certificates of obligation should be issued
under and pursuant to the provisions of Article 2368a.1,
V.A.T.C.S., for the purpose of paying contractual obligations
to be incurred for the construction of public works, to wit:
park improvements and to pay contracts for professional ser-
vices; 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 a newspaper of general circulation in the
City, said notice stating (i) the time and place this Council
tentatively proposes to pass the ordinance authorizing the
issuance of the certificates, (ii) the maximum amount proposed
to be issued, (iii) the purposes for which the certificates are
to be issued and (iv) the manner in which the Council proposes
to pay the certificates; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK, TEXAS:
SECTION l: That the City Secretary is hereby authorized
and directed to cause notice to be published of this Council's
intention to issue certificates of obligation, in an amount not
to exceed $2,500,000 for the purpose of paying contractual
obligations to be incurred for the construction of public
works, to wit: park improvements and to pay contracts for
professional services, such certificates to be payable from ad
valorem taxes and a limited lien on and pledge of the net reve-
nues of the City's combined Waterworks and Sanitary Sewer
System. The notice hereby approved and authorized to be pub-
lished 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: That the City Secretary shall cause the
aforesaid notice to be published in a net,.spaper of general
circulation in the City, once a week for two consecutive weeks,
the date of the first publication to be at least fourteen (14)
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 the 10thday of October , 1985.
Major '
City of Lubbock, Texas
TEST:
Cit Secretary, City
of Lubbock, Texas
(City Sea;)
APPROVED AS TO CONTENT:
J. Robert Massengale, sst. Tity
Mdit' br for Financial Services
APPROVED AS TO FORM:
rl Z-0 --- - I -
Don Vandiver, First Asst. City ttorney
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF LUBBOCK, TEXAS
CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of
Lubbock, Texas, shall convene at 9:00 o'clock AM. on the 14th
-ay of November, 1985, at its regular meeting place in the Ci_y
Hall of said City, and, during such meeting, the Council ..ill
consider the passage of an ordinance authorizing the issuance
of certificates of obligation in an amount not to exceed
$2,500,000 for the purpose of paying contractual obligations to
be incurred for the construction of public works, to wit: park
improvements and to pay contracts for professional services,
such certificates to be payable from ad valorem taxes and a
limited lien on and pledge or the net revenues of the City's
combined waterworks and Sanitary Sewer System. The certifi-
cates are to be issued, and this notice given, under and pursu-
ant to the provisions of Article 2368a.1, V.A.T.C.S.
4CIT SECRETARY,
CIT OF LUBBOCK, TEXAS
J