Res 135-98 9/1/1998RESOLUTION NO. '-�
RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CITY OF WICHITA FALLS, TEXAS, WATER AND SEWER
SYSTEM REVENUE BONDS, SERIES 1998; DETERMINING THAT THE
MEETING AT WHICH THIS RESOLUTION WAS PASSED WAS OPEN
TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City Council finds that the construction of improvements and
extensions to the City's Water and Sewer System is urgently needed by the City of
Wichita Falls, Texas, in order to perform its essential municipal functions;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. That attached hereto and marked "Exhibit A" is a form of notice,
the form and substance of which are hereby adopted and approved.
SECTION 2. That the Mayor 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, as described in Sections 2051.044 and 2051.048 of the
Texas Government Code, on the same day in each of two consecutive weeks, the date
of the first publication thereof to be before the fourteenth (14th) day before the date
tentatively set for passage of the ordinance authorizing the issuance of the Bonds as
described therein.
SECTION 3. That this resolution shall become effective immediately upon
adoption.
It is hereby officially found and determined that the meeting at which this
resolution was passed was open to the public as required by law
PASSED AND APPROVED this the 1 st day of September, 1998.
I MAYO
ATTEST:
L
City Clerk
EXHIBIT "A"
NOTICE OF INTENTION TO ISSUE CITY OF WICHITA
FALLS, TEXAS WATER AND SEWER SYSTEM REVENUE
BONDS, SERIES 1998
NOTICE is hereby given, in accordance with Article 2368a, V.A.T.C.S. and Chapter 252
of the Local Government Code that the City Council of the City of Wichita Falls, Texas
does intend to consider for passage at a Regular Meeting to be held at 8:30 a.m., on
the 6th day of October, 1998, at the City Hall, Wichita Falls, Texas, an Ordinance
authorizing the issuance, sale and delivery of bonds to be designated as "City of
Wichita Falls, Texas Water and Sewer System Revenue Bonds, Series 1998 ". The
maximum amount of the Bonds that may be authorized for the above purpose is
$5,500,000. Said Bonds will be issued for the purpose of providing funds for capital
improvements to the City's combined Water and Sewer System and to pay the costs of
issuance related thereto. The City Council presently proposes to provide for payment
of Bonds by the pledge of net revenues of the City's combined Water and Sewer
System, on a parity with the lien and pledge securing the City's "Priority Bonds ", now
outstanding or hereafter issued, all as will be further described, defined and provided in
the aforesaid Ordinance. Said Bonds will bear interest at maximum rates not to exceed
10% per annum, will 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.
Kathryn A. Yeager
Mayor, City of Wichita Falls