RE 09-22-87.1 RESOLUTION NO. 092287.1
A RESOLUTION RELATING TO THE GIVING OF
NOTICE OF INTENTION TO ISSUE NOT TO EXCEED
$4,900,000 CITY OF COPPELL, TEXAS,
COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION, SERIES 1987
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS:
1. The City Secretary of the City of Coppell, Texas,
is hereby authorized and directed to issue a notice in
substantially the following form:
"NOTICE OF INTENTION TO ISSUE
CITY OF COPPELL, TEXAS COMBINATION TAX
AND REVENUE CERTIFICATES OF OBLIGATION
"NOTICE is hereby given that on the 27th day of October,
1987, the City Council of the City of Coppell, Texas, at 7:30
p.m., at a regular meeting of the City Council to be held at
City Hall, 255 Parkway Boulevard, Coppell, Texas, the regular
meeting place of the City Council, intends to pass an ordinance
authorizing the issuance of Combination Tax and Revenue
Certificates of Obligation for the purpose of paying
contractual obligations to be incurred for the construction of
public works, to-wit: improving and constructing streets for
and within the City, and for paying all or a portion of the
contractual obligations for professional services of engineers,
attorneys and financial advisors in connection with said public
works and Certificates. Said Certificates shall be issued in
an amount not to exceed Four Million Nine Hundred Thousand
Dollars ($4,900,000), they shall bear interest at a rate not to
exceed fifteen percent (15%) per annum, and shall have a
maximum maturity date of not later than forty (40) years after
their date. Said Certificates shall be payable from the levy
of a direct and continuing ad valorem tax against all taxable
property within said City sufficient to pay the interest on
this series of Certificates as due and to provide for the
payment of the principal thereof as the same matures, as
authorized by Vernon's Texas Revised Civil Statutes Annotated,
Article 2368a.1, as amended, and from all or a part of any
surplus revenues of the City's combined waterworks and sewer
system.
"THIS NOTICE is given in accordance with law and as
directed by the City Council of the City of Coppell, Texas.
"GIVEN this the 22nd day of September, 1987.
/s/ Dorothy Timmons
City Secretary
City of Coppell, Texas"
2. The foregoing notice shall be published once a
week for two consecutive weeks, the date of the first
publication being at least fourteen (14) days prior to the date
set forth in the foregoing notice for passage of the ordinance
authorizing said Combination Tax and Revenue Certificates of
Obligation. Such notice shall be published in a newspaper of
general circulation in the area of the City of Coppell, Texas.
PASSED, APPROVED AND EFFECTIVE, this the 22nd day of
September, 1987.
Mayor
City of Coppell, Texas
ATTEST:
[SEAL]
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