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HomeMy WebLinkAbout2003-0902A Tax Rate for Debt Service 2003TROPHY CLUB MUNICIPAL UTILITY DISTRICT No. 1 RESOLUTION NO. 2003-0902A A RESOLUTION TO SET THE COMPONENT OF THE TAX RATE FOR DEBT SERVICE FOR 2003 RESOLVED: Pursuant to Sections 49.211(a) and 49.212(a) of the Texas Water Code, the Board of Directors of Trophy Club Municipal Utility District No. 1 hereby finds that a tax rate of $.11240 per $100 of taxable value, if applied to the total taxable value of property on the District's appraisal roll for the 2003 tax year, will impose the total amount of taxes needed to pay the District's debt obligations during the next year, and that such tax rate is reasonable and necessary to service the District's debt obligations during the next year, including payments of lawfully incurred contractual obligations providing security for the payment of the principal of and interest on bonds and other evidences of indebtedness issued on behalf of the District. It is therefore ordered by the Board of Directors of the District that the component of the 2003 tax rate for debt service is hereby set at $.11240 per $100 of taxable value of each property included on the appraisal roll for the District for the 2003 tax year. PASSED AND APPROVED by the Board of Directors of the Trophy Club Municipal Utility District No. 1, Trophy Club, Texas this the 2ND day of September, 2003. Pre(sident, Trophy CIuq MUD No. 1 (SEAL) and Secretary Trophy Club MUD No. 1 CERTIFICATE OF RESOLUTION (2003-0902A) THE STATE OF TEXAS} COUNTY OF DENTONI COUNTY OF TARRANTI 1, the undersigned member of the Board of Directors of the Trophy Club Municipal Utility District No. 1 of Denton and Tarrant Counties, Texas (the "District"), hereby certify as follows: 1. That I am the duly qualified and acting Secretary of the Board of Directors of the District, and that as such, I have custody of the minutes and records of the District. 2. That the Board of Directors of the District convened in Regular Session on September 2ND, 2003 at the regular meeting place thereof, and the roll was called of the duly constituted officers and members of the Board of Directors, to wit: Dean Henry Ted Neidenberger Jim Hase Constance S. White Wayne Obermeier President Vice President Secretary/Treasurer Assistant Secretary Director and Directors Henry, Neidenberger, Hase, White and Obermeier were present, thus constituting a quorum, whereupon, among other business, the following was transacted at such meeting: a written RESOLUTION (2003-0902A) SETTING THE COMPONENT OF THE TAX RATE FOR DEBT SERVICE FOR 2003 was duly introduced for the consideration of the Board of Directors. It was then duly moved and seconded that such Resolution be adopted and, after due discussion, such motion, carrying with it the adoption of such Resolution prevailed and carried by the following vote: AYES: 5 NOES: 0 Resolution (2003-0902A) Certificate Trophy Club Municipal Utility District No. 1 Page 2 3. That a true, full and correct copy of such Resolution adopted at such meeting is attached to and follows this certificate; that such Resolution has been duly recorded in the minutes of the Board of Directors for such meeting; that the persons named in the above and foregoing Paragraph 2 were the duly chosen, qualified and acting officers and members of the Board of Directors as indicated therein, that each was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of such meeting, and that such Resolution would be introduced and considered for adoption at such meeting, and that each consented, in advance, to the holding of such meeting for such purpose; that the canvassing of the officers and members of the Board of Directors present at and absent from such meeting and of the votes of each on such motion, as set forth in the above and foregoing Paragraph 2, is true and correct; and that sufficient and timely notice of the hour, date, place and subject of such meeting was given and posted as required by Chapter 551, Texas Gov. Code, as amended. SIGNED AND SEALED the 2ND of September 2003. ecretary, Board of Directors (SEAL)