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HomeMy WebLinkAboutRES 03.11.1977 - Publish Certificate of Obligation1 5 STATE OF TEXAS CITY OF GEORGETOWN On this the 11th day of March, 1977, the City Council of the City of Georgetown, Texas, convened in special session at the regular meeting place in said City, with the following members present, to wit: JOHN C. DOERFLER, Mayor D. W. SCOTT WILLIAM C. SHELL Councilmen J. D. WI NINGER CARL J. DOERING HARRY L. GOLD W. L. WALDEN, City Secretary and the following absent: None A quorum being present and after the following resolution was read, Councilman Doering moved its adoption. Councilman Gold seconded the motion. The motion, carrying with it the adoption of the resolution, prevailed by the following vote: AYES: Councilmen Wininger, Doering, Gold, Scott and Shell; NOES: None. The Resolution is as follows: • VV WHEREAS, each and all of the members of the City Council of the City of Georgetown was duly and sufficiently notified, officially and personally, in advance, of the time, place and purpose of this meeting, and proper notice of this meeting has been duly and timely posted as provided by law; and WHEREAS, the said City Council of said City has determined and finds that there is an imperative need and public necessity to make certain improvements to the City's water- works aterworks system to protect the health, safety and welfare of the inhabitants of said City and that an emergency exists; and WHEREAS, to provide funds needed for said improvements, the Council has determined that certificates of obligation should be issued and sold for cash under the provisions of Article 2368x.1, Articles 1111-1118, VA.T.C.S., as amended, and the Charter of said City, for the purpose of paying all or a portion of the contractual obligations to be incurred by the City in connection with improving the City's waterworks system, such certificates to be payable from ad valorem taxes and revenues derived from the operation of the City's combined waterworks, sewer and electric light system; and WHEREAS, prior to the issuance of such certificates of obligation, this City Council is required to give notice of its intention to issue the same; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: Section 1. The Whereas Clauses are made a part of this Resolution for all purposes. Section 2. That the Mayor is hereby authorized and directed to cause notice to be given of this Council's intention to issue certificates of obligation to be sold for cash in the maximum principal amount of not to exceed $250,000 for the purpose of paying all or a portion of the contractual obligations to be incurred by the City in connection with improving the City's waterworks system, such certificates to be payable from ad valorem taxes and revenues to be derived from the operation of the City's combined waterworks, sewer and electric light system. It is the intention of the City Council to pass the ordinance authorizing said certificates of obligation at a meeting to be held at the City Hall in the City of Georgetown, Texas, at 7:00 p.m. on April 12, 1977. The notice to be given (the form, content, time, date and place are hereby approved) shall be substantially as follows: NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION TAKE NOTICE that the City Council of the City of Georgetown, Texas will convene at 7:00 o'clock, p.m., on the 12th day of April, 1977, at its regular meeting place in the City Hall of the City of Georgetown, Texas, to consider the passage of an ordinance authorizing the issuance of certificates of obligation of said City to be sold for cash in the maximum principal amount not to exceed $250,000 for the purpose of pay- ing all or a portion of the contractual obligations to be incurred by the City in connect- ion with improving the City's waterworks system; such certificates to be payable from ad valorem taxes and revenues to be derived from the operation of the City's combined waterworks, sewer and electric lightsystem. John C. Doerfler, Mayor Section 3. That such notice shall be published once a week for two consecutive weeks in a newspaper of general circulation in the City of Georgetown, Texas, the date of the first publication to be at least fourteen (14) days prior to the date stated in said notice for considering the passage of an ordinance authorizing the issuance of certificates of obligation. PASSED AND APPROVED at a meeting open to the public this the 11th day of March 1977, after public notice of the time, place and purpose of said meeting was given and posted as required by law in the manner provided by Article 6252-17, VA.T.C.S. as amended. ATTEST: City Secretary APPROVED: City Attorney �,L c. Dwa, 4 hn C. Doerfler, ayor