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HomeMy WebLinkAbout10-11-90-7.3 - Resolution - 10/11/1990RESOLUTION NO. 10-11-90-7.3 RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF COLLEGE STATION, TEXAS, UTILITY SYSTEM REVENUE BONDB~ SERIES 1990 WHEREAS, the City Council of the City of College Station, Texas, deems it necessary that the bonds hereinafter described be authorized, issued, sold, and delivered as soon as practicable. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, THAT the following notice shall be pub- lished in a newspaper published in, and having general circula- tion in, the City of College Station, Texas, on the same day of each of two consecutive weeks, with the date of the first pub- lication to be at least two weeks prior to the date upon which the City Council intends to pass the Ordinance described in the following Notice: "NOTICE OF INTENTION TO ISSUE CITY OF COLLEGE STATION, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 1990 Notice is hereby given that the City Council of the City of College Station, Texas, intends to pass, at a Regular Meeting to be held on November 8, 1990, at City Hall, an Ordinance author- izing the issuance, sale, and delivery of issuance of bonds presently contemplated to be designated as "City of College Station, Texas, Utility System Revenue Bonds, Series 1990", in amount to provide approximately $1,000,000 for extensions and improvements to the water system, approximately $2,300,000 for extensions and improvements to the sewer system, and approx- imately $1,500,000 for extensions and improvements to the electric light and power system, to be payable from and secured by a first lien on and pledge of the Net Revenues of the City's water system, sewer system, and electric light and power system, all as will be defined and provided in the aforesaid Ordinance. Said bonds will bear interest from their date at maxiumum rates not to exceed a net effective interest rate of 15% per annum, being the maximum permitted by Vernon's Ann. Tex. Civ. St. Article 717k-2, will be scheduled to mature in installments serially within a maximum of not to exceed 30 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 author- ized, issued, sold, and delivered pursuant to the laws of the State of Texas, including Vernon's Ann. Tex. Civ. St. Articles 1111 through 1118, and other applicable laws. RESOLUTION NO. lO-11-qO~7q PASSED AND ADOPTED by the City Council of the City of College Station, this llth day of October, 1990. AT~EST: . Connie Hooks, City Secretary ~r ~ CERTIFICATE FOR RESOLUTION ~ We, the undersigned Mayor and City Secretary of the City of College Station, Texas (the "City"), hereby certify as follows: 1. The City Council of the City (the "Council") convened regular session, open to the public, on October 11, 1990, at the meeting place designated in the notice (the "Meeting"), and the roll was called of the members, to wit: Larry J. Ringer, Mayor and the following Councilmembers: Fred Brown, Dick Birdwell, Ji! Gardner, Nancy Crouch, Lynn McIlhaney, and Vernon E. Schneider. All councilmembers were present thus constituting a quorum. Whereupon among other business, the following was transacted at the Meeting a written resolution, entitled: RESOLUTION PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF COLLEGE STATION, TEXAS, UTILITY SYSTEM REVENUE BONDS, SERIES 1990 (the "Resolution") was duly introduced from the consideration of the Council and read in full. It was then duly moved by Councilmember Dick Birdwell and seconded by Councilmember Nancy Crouch that the Resolution be finally passed and adopted; and, after due discussion, such motion, carrying with it the adoption of the Resolution prevailed and carried by the vote: AYES: 7 NOES: 0 ABSTENTIONS: 0 2. A true, full, and correct copy of the Resolution adopte,-- at the Meeting is attached to and follows this Certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; the above and foregoing paragraph is a true, full, and correct excerpt from the Council's minutes of the Meeting pertaining to the adoption of the Resolution; the persons named in the above and foregoing paragraph are duly chosen, qualified, and acting officers and members of the Council as indicated therein; each of the officers and members of the Council was dul'-- and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Meeting and that the Resolution would be introduced and considered for adoption at th Meeting and each of such officers and members consented, in advance, to the holding of the Meeting for such purpose; and the Meeting was open to the public, and public notice of the time, place, and purpose of the Meeting was given, all as required by Article 6252-17, Vernon's Texas Civil Statutes, as amended. 3. Connie Hooks is the duly appointed and acting City Seq~tary of th9 City. Ci~'~Se~cr e~t a~r~o f' ~e College Station, Texas Station, Texas O0 4 NOTICE OF INTENTION TO ISSUE CITY OF COLLEGE STATION, TEXAS UTILITY SYSTEM REVENUE BONDS, SERIES 1990 Notice is hereby given that the City Council of the City of College Station, Texas, intends to pass, at a Regular Meeting to be held on November 8, 1990, at the City Hall, an Ordinance authorizing the issuance, sale, and delivery of an issue of presently contemplated to be designated as "City of College Station, Texas, Utility System Revenue Bonds, Series 1990", in amount to provide approximately $1,000,000 for extensions and improvements to the water system, approximately $2,300,000 for extensions and improvements to the sewer system, and approx- imately $1,500,000 for extensions and improvements to the electric light and power system, to be payable from and secured by a first lien on and pledge of the Net Revenues of the City's water system, sewer system, and electric light and power system. all as will be defined and provided in the aforesaid Ordinance. Said bonds will bear interest from their date at maximum rates not to exceed a net effective interest rate of 15% per annum, being the maximum permitted by Vernon's Ann. Tex. Civ. St. Article 717k-2, will be scheduled to mature in installments serially within a maximum of not to exceed 30 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 the laws of the State of Texas, including Vernon's Ann. Tex. Civ. St. Articles 1111 through 1118, and other applicable laws. CITY OF COLLEGE STATION, TEXAS