1982-Resolution-Authorizing Certificates of Obligation for Emergency Public Improvements-02/01/1982 RESOLUTION AUTHORIZING CERTIFICATES OF OBLIGATION
FOR EMERGENCY PUBLIC IMPROVEMENTS
WHEREAS , the voters of Sanger , Texas , have authorized an
issuance of bonds in the sum of $150 , 000 to purchase
and operate a sanitary landfill site, however., said
bonds have not been sold to date , and
WHEREAS , the City of Sanger , Texas has filed a condemnation
proceeding to obtain said site and the commissioners
appointed by court have assessed the damage at $50 ,000
plus approximately $1 ,000 in costs and the city is also
acquiring a road site for direct access to said land-
fill site , and
WHEREAS , it is desirable in the public interest that said
purchase be completed and work on said road and land-
fill site commence at the earliest practical date all
of which constitutes emergency public improvements
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL, CITY OF
SANGER, TEXAS , THAT :
Paragraph 1 : The issuance of Certificates of
Obligation in the amount of Fifty Five Thousand
Dollars ($55 ,000) shall be in the same is hereby
authorized for a period of six (6) months at a
rate of interest not to exceed nine percent (9%)
and
Paragraph 2 : The Mayor and City Manager are
hereby authorized to sign the Certificates of
Obligation for and in behalf of the City of
Sanger, Texas .
PASSED and approved at a regular meeting of the City Council
on this 1st day of February , 1982 .
Mayor
Ci anager
ATTEST :
Ci y Se etary