10-91-Resolution-Directing the Notice of Intent to Issue Utility System Revenue Bonds Series 1991-10/21/1991R10-91
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF SANGER
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 21ST
DAY OF OCTOBER, 1991, at the City Hall, and the roll was called of the duly constituted
officers and members of said City Council, to -wit:
Nel Armstrong, Mayor
Gerald Jenkins, Mayor Pro Tem
John Berndt
Wendell Thomas
Margie C. Braxton
Tommy Kincaid
Rosalie Garcia, City Secretary
and all of said persons were present,
except the following absentees. Wendell Thomas
thus constituting a quorum. Whereupon, among other business, the following was transacted
at said Meeting: a written
RESOLUTION
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
UTILITY SYSTEM REVENUE BONDS, SERIES 1991
was duly introduced for the consideration of said City Council and read in full. It was then
duly moved and seconded that said Resolution be passed; and, after due discussion, said
motion carrying with it the passage of said Resolution, prevailed and carried by the following
vote:
AYES: All members of said City Council shown present above voted "Ave"
NOES: None.
2. That a true, full and correct copy of the aforesaid Resolution passed at the
Meeting described in the above and foregoing paragraph is attached to and follows this
Certificate; that said Resolution has been duly recorded in said City Council's minutes of
said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from
said City Council's minutes of said Meeting pertaining to the passage of said Resolution; that
the persons named in the above and foregoing paragraph are the duly chosen, qualified and
acting officers and members of said City Council as indicated therein; that each of the
officers and members of said City Council was duly and sufficiently notified officially and
personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that
said Resolution would be introduced and considered for passage at said Meeting, and each
of said officers and members consented, in advance, to the holding of said Meeting for such
purpose, and that said Meeting was open to the public and public notice of the time, place
and purpose of said meeting was given, all as required by Vernon's Ann. Civ, St. Article
5252-17.
3. That the Mayor of said City has approved and hereby approves the aforesaid
Resolution; that the Mayor and the City Secretary of said City have duly signed said
Resolution; and that the Mayor and the City Secretary of said City hereby declare that their
signing of this Certificate shall constitute the signing of the attached and following copy of
said Resolution for all purposes.
SIGNED AND SEALED the 21st day of October, 1991.
City ecretary
SEAL
RESOLUTION
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CITY OF SANGER, TEXAS UTILITY SYSTEM REVENUE BONDS, SERIES
1991, IN THE PRINCIPAL AMOUNT OF $80%000
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF SANGER
WHEREAS, it is deemed advisable by the City Council to authorize the publication
A notice of intention to issue Utility System revenue bonds; 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 given, all as required by Art. 625247, V.A.T.C.S.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SANGER:
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 shall cause said notice to be published in substantially the
form attached hereto, in a newspaper of general circulation in 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 at least 14 days prior to the time set for the issuance of such revenue bonds
shown in said notice.
3. That this Resolution shall become effective immediately upon adoption.
CITY OF SANGER, TEXAS
NOTICE OF INTENTION TO ISSUE UTILITY SYSTEM REVENUE BONDS,
SERIES 1991, IN THE PRINCIPAL AMOUNT OF $80%000
Notice is hereby given that the City Council of the City of Sanger, Texas, intends to
consider for passage, at a Meeting to be held at M. on _, 1991,
at their meeting place, at City Hall, Sanger, Texas, an Ordinance authorizing the issuance,
sale and delivery of an issue of bonds to be designated as "City of Sanger, Texas Utility
System Revenue Bonds, Series 1991", in the maximum principal amount not to exceed
$800,000, to be payable from and secured by, a first lien on and pledge of the Net Revenues
of the City's Utility System, being the City's Waterworks, Sewer and Electric System, all as
will be further described, defined and provided in the aforesaid Ordinance. Said bonds will
bear interest at maximum rates not to exceed 15% per annum, will be scheduled to mature
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 Articles 1111 through 1118, V.A.T.C.S., and other applicable laws for
the purpose of improving and extending the combined Waterworks, Sewer and Electric
System of the City of Sanger.
Nel Armstrong, Mayor
City of Sanger