Ordinance No. 2,859ORDINANCE NO. 2859
ORDINANCE AUTHORIZING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE CITY OF BAYTOWN, TEXAS,
CERTIFICATES OF OBLIGATION, SERIES 1980
THE STATE OF TEXAS §
COUNTIES OF HARRIS AND CHAMBERS §
CITY OF BAYTOWN §
WHEREAS, the City Council of the-CITY OF BAYTOWN, TEXAS
(the "City "), deems it advisable to issue Certificates of
Obligation of the City in accordance with the notice herein-
after set forth; therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1. The facts and recitations contained in the
preamble of this ordinance are hereby found and declared to
be true and correct.
Section 2. The City Clerk is hereby authorized and
directed to cause to be published in the manner required by
law a notice of intention to issue Certificates of Obligation
in substantially the following form:
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NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City
of Baytown, Texas (the "City "), will meet in the City Hall,
City of Baytown, Texas, at 6:30 p.m. on April. 24, 1980, to
adopt an ordinance authorizing the issuance of the City's Cer-
tificates of Obligation, payable from City ad valorem taxes
and revenues of the sanitary sewer system of the City, in the
maximum aggregate principal amount of $1,100,000, bearing in-
terest at any rate or rates, not to exceed the maximum interest
rate now or hereafter authorized by law, as shall be determined
within the discretion of the City Council, and maturing over a
period of years not to exceed twenty (20) years from the date
thereof, for the purpose of evidencing the indebtedness of the
City for all or any part of the cost of extending and improving
(1) the sanitary sewer system of the City (a maximum principal
amount of $1,000,000 of Certificates of Obligation to be issued
for this purpose) and (2) the waterworks system of the City (a
maximum principal amount of $100,000 of Certificates of Obliga-
tion to be issued for this purpose), respectively, and the cost
of professional services incurred in connection therewith.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
27th day of March, 1980.
(SEAL)
/s/ Eileen P. Hall
City Clerk T
CITY OF BAYTOWN, TEXAS
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00327 -2c
Section 3. The notice set forth in Section 2 above shall
be published once a week for two (2) consecutive weeks in a
newspaper which is of general circulation in the City, the date
of the first publication to be not less than fourteen (14) days
prior to the date tentatively set in said notice for the passage
of the ordinance authorizing the issuance of such Certificates
of Obligation.
Section 4. The Mayor, City Clerk, and other officers of
the City are hereby authorized and directed to do any and all
things necessary or desirable to carry out the provisions of
this ordinance.
Section 5. This ordinance shall take effect immediately
upon its passage.
Section 5. It is hereby officially found and determined
that the need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding, at the
scheduled time, of the meeting of the City Council at which
this ordinance is adopted and for the adoption of this ordi-
nance; and the NOTICE OF MEETING relating to said meeting and
heretofore posted by the City Clerk, and the posting thereof,
are hereby authorized, approved, and ratified.
PASSED AND APPROVED this 27th day of March, 1980.
ATTEST:
ayor
CITY OF BAYTOWN, TEXAS
i�tyc le
CITY OF BAYTOWN, TEXAS
(SEAL)