RE 2009-0908.2A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 2009- 0908.2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COPPELL, TEXAS, OUTLINING THE TERMS AND
CONDITIONS OF A DEBT SERVICE FUNDING PLAN;
AUTHORIZING THE MAYOR TO EXECUTE THIS
RESOLUTION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Coppell desires to levy a debt service tax rate that fully
funds the debt service requirements by the fiscal year 2011 -2012 and;
WHEREAS, the City of Coppell desires to comply with the fund balance policy
by fiscal year 2009 -2010; and
WHEREAS, the City of Coppell desires to maintain a bond rating of AAA.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF COPPELL, TEXAS AS FOLLOWS:
SECTION 1. During the 2009 -2010 fiscal year, the City of Coppell will not
increase the debt service tax rate and will use general fund, fund balance in the amount of
$2,402,287.
SECTION 2. In fiscal year 2010 -2011, the City of Coppell will increase the tax
rate by five cents (0.05) and use the general fund, fund balance in the amount of
approximately $404,807.
SECTION 3. That the Mayor is hereby authorized to execute this Resolution for
purposes recited herein for and on behalf of the City of Coppell, Texas.
SECTION 4. That this Resolution shall become effective immediately from and
after its passage as the Law and Charter in such cases provide.
DULY RESOLVED AND ADOPTED by the City Council of the City of
Coppell, Texas, on this the day of 009.
APPROVED AS TO FORM:
ROBERT E. HAGE ITY ATTORNEY
(JDD /ajh 38937 09/02/0
APPROVED:
JA PE, MAYOR
ATTEST:
LIB Y BA /CITY SECRETARY