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HomeMy WebLinkAboutRES 900616 - Intent to Issue BondRESOLUTION � E. DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF GEORGETOWN, TEXAS UTILITY SYSTEM REVENUE BONDS, SERIES 1991 THE STATE OF TEXAS COUNTY OF WTLLIAMSON CITY OF GEORGETOWN WHEREAS, the City finds that an improvement program is urgently needed for necessary improvements and wepsions to the Utility System; and WHEREAS, the City deems it advisable to give notice of intention to issue revenue bonds in the amount of S2 300,000 for the purpose of improving and extending the Utility System; and WHEREAS; it is hereby officially found and determined that the meeting at which this Resolution was passed, was open to the public and public notice of the time, place; and purpose of said meeting was Riven, all as required by Art 6262.17, VA T:CS, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN: 1 That attached hereto is a form of the notice of intention to issue Utility System Revenue Bonds; the form and substance of which is hereby adopted and approved, 2 That the City Secretary shah cause said notice to be published in substantially the form attached hereto, in a newspaper of general circulation to said City, and published in said City, on the same day in each of two consecutive weeks, the date of the first publication thereof to be least 14 days prior to theta time set for the issuance of such revenue bonds as shown in said notice, 3. That this Resolution shall become effective immediately upon adoption. Resolved this 11th day of 1,6bee, 1940,—••— APPROVD: ATTEST: APPROVED AS TO TOM: v } H, Connor Eh¢ beth Crab, Earranne Landers 3anks Vapor Citv'Secretary C tv 4ttma" CITY OF GEORGETOWN, TEXAS NOTICE OF INTENTION TO ISSUE UT1UTY SYSTEM REVENUE BONDS, SERIES 1991, IN THE PRINCIPAL AMOUNT OF $2,10Q000 Notice is hereby given in accordance with Article 2368a, V;AT,C S, that the City Council of the City of Georgetown, Texas, intends to pass at a Regular Meeting to be held at 1.00 P.M. on,January 8, 1991, at City Hall, Georgetown, Texas, an Ordinance authorizing The issuance, sale and delivery of an issue of bonds to be designated as "City of Georgetown, Texas Utih(y System Revenue Bonds, Series 1991; in the magnum principal amount not to exceed $2,300,000, to be payable from, together with other revenue bonds, and secured by a first lien on and pledge of the Net Revenues of the Ch's Utility System, being the City's combined Waterworks, Sewer and Electric Ught System, alias will be further described, defined and provided in the aforesaid Ordinance. Said bonds will bear interest from their date at a maximum rate not to exceed IS% per annum, being the maximum permitted by Article 711Z V.A T.CS, and al be scheduled to mature serially within a maximum of not to exceed 40 years from their date, and will be subject to redemption Prior to maturity, and will have such other and further characteristics as will be provided in the aforesaid Ordinance. Said bonds will be authorized, issued, sold and delivered pursuant to Articles 1111 through 1118, VA,T.C.S., and other applicable laws, for the purpose of providing money for improvements; and extensions to the Utility System of the City of Georgetown, Texas. Cn OF GEORGETOWN Bill Connor, Mayor