2001R05- PROJECT AND FINANCING PLANS
RESOLUTION NO.
0/- /2- ~
A RESOLUTION
BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS,
SUPPORTING THE PROJECT AND FINANCING PLANS OF
THE SCHERTZ/SEGUIN LOCAL GOVERNMENT CORPORA-
TION; AND SUPPORTING THE PLAN, BY THE CITY OF
SCHERTZ PUBLIC WORKS DIRECTOR, FOR WATER RATE
INCREASES.
WHEREAS, the City of Schertz, Texas ("Schertz") and the City of Seguin,
Texas ("Seguin") (together the "Cities") have authorized and approved the
creation of the SchertzlSeguin Locat Government COllYoratfon (the
"Corporation"), a local government corporation created under provisions of
Subchapter D of Chapter 431 of the Texas Transportation Code, as amended
(the "Act"), to aid and assist, and act on behalf of the Cities; and
WHEREAS, the Board of Directors of the Corporation has detef111ined
they are ready for the next stage of the ("Project") to provide water to the citizens
of the ("Cities") to be financed with the proceeds of one or more serres of contract
revenue bonds (the "Bonds") currently anticipated to be issued in the aggregate
principal amount of approximately $38,325,000 (subject to change} to financErthe
next phase of the Project and to reimbursEtthe Cities-for certain advances tQ the
Corporation; and
WHEREAS, the City of Schertz Pubtic- Works Director has worked UP a
Plan for water rate Increases and a plan for temporary assistance to needy
families when the water rate increases become effective; and
WHEREAS, the City Council of the City of Schertz desires to express its
support for the actions of the Board of Directors of the Corporation anct tor the
actions of the City of Schertz Public Works Director; NOW, THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS:
THAT, it is officially found, determined and declared that the meeti'l9 at
which this Resolution is adopted was open to the public and public notice of the
time, place and subject matter to be considered at such meeting, including this
Resolution, was given, all as required by Chapter 551, as amended, T~xas
Government Code; and
THAT, this Resolution shaft be in force and effect from and after its final
passage, and it is so resolved.
PASSED, APPROVED AND AOOP-TED this t.ttetlLctay of February, 2001.
~k~
~ Mayor, City of Schertz, Texas
ATTEST:
7:#~~ ~
City Secretary, City of Schertz
(SEAL OF CITY)
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