Resolution 88
A RESOLUTION approving and authorizing publication
of notice of intention to issue certificates
of obligation.
WHEREAS, the City Council of the City of Wylie, Texas,
has determined that certificates of obligation should be issued
under and pursuant to the provisions of V.T.C.A., Local
Government Code, Subchapte r C of Chapter 271, for the pu rpose
of paying contractual obligations to be incurred for (i) the
construction of street improvements, including the acquisition
of rights-of-way therefor and drainage improvements incidental
thereto, (i i) the const ruct ion of improvements and extensions
to the Ci ty' s combined Waterworks and Sani tary Sewer System,
and (iv) professional services; 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 the Council
tentatively proposes to pass the ordinance authorizing the
issuance of the cert i fica tes, (i i) 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,
TEXAS:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WYLIE,
SECTION 1: That the City Secretary is hereby authorized
and directed to cause notice to be published of the Counci I' s
intention to issue certificates of obligation in the principal
amount not to exceed $1,275,000 for the purpose of paying con-
tractual obligations to be incurred for (i) the construction of
street improvements, including the acquisition of rights-of-way
therefor and drainage improvements incidental thereto, (ii) the
construction of improvements and extensions to the City's
combined Waterworks and Sani ta ry Sewer System, and (i v)
professional services, such certificates to be payable from ad
valorem taxes and a limited pledge of the net revenues of the
City's combined Waterworks and Sanitary Sewer System. 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.
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SECTION 2: That 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
April, 1988.
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y of Wylie, Texas
ATTEST:
(City Seal)
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