NL Cypress-CS080924
1/1 the Conmu..tTIil.y. \Vitl1 the COHU11IiTli(y. For ate C(Jmnrullil.~.-
City officially
welcomes
New Tech
1 figli@'Coppl'!1.
_. See Page 3A
'V\!}])NESDAY, SEPTEMBER 24,2008
Council
approves revised
'intent' bond .
i&mance
__..J_~~~ WI~IArt!~_
STAFF WRITER
With the North Lake
agreement fmally coming to
a close, the city's preparing
to have bonds ready for the
land closing date. At last
night's city council meeting,
the council approved the
revised "Notice of Intention"
to issue bonds to purchase
North Lake property.
. At the Aug. .12 city coun-
.c'" eil. . meeting, . the.. council
approved the intent to issue
bonds to purchase land at
North Lake. Originally, the
bonds, also lmown as certifi-
cates of obligation Series
2008A, was approved to not
exceed $20 million for 832.8
acres of land while the sec-
ond part, Series 2008 B, was
approved to not exceed $10
million for the acquisition of
approximately 108 acres of
land.
However, the recent
agreement between the city
and Billingsley Company
See COUNCIL Pave 4A
Council prepares
for North Lake
land purchase
Continued from Page 1 A
which is currently set to the' certificates now reads
close in October, says the that the bonds will be for
city will acquire 475 acres of 360 acres to not exceed $20
land in the North Lake prop- million and 115 acres to not
erty. The new alteration to exceed $6.5 million.
According to Jennifer
1 Miller, director of fmance
for the city of Coppell, the
bonds will sell Oct. 14 and
the city will receive the
money Oct. 23.
The city plans to use land
for water utilities, as well as
additional facility infrastruc-
tures.