Agenda 3-17-1998

NOTICE OF INTENTION TO ISSUE CERTtr'ICATES OF OBLIGATION FOR PURCHASE OF A WATER SYSTEM

NOTICEIS FIEREBYGIVENthattheCityCouncilof the City of PelicanBay, Texas,at its meetingto commence at'V.'o O

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theCityHall, 1300PelicanCircle,PelicanBay,Texas,tentativelyproposesto authorizethe issuance of interestbearingcertificatesof obligationof saidCity in total maximumprincipalamountnot to exceed$1,150,000,for the publicpurposeof payingcontractualobligationsto be incurredfor the purchaseof a water systemfor the City, includingall land, easements, facilities,machinery,and equipment, and otherpropertiesrelatedthereto. The City presentlyproposesto providefor the paymentof suchcertificates of obligationby the levy of advaloremtaxes,togetherwith a pledgeof all or part of the revenuesof the City'swaterworksandsewersystem.

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