HomeMy WebLinkAbout07-10-97 TC AgendaNOTICE OF SPECIAL EMERGENCY MEETING
The Board of Aldermen of the Town of Westlake, Texas will hold a special
emergency meeting at 7:30 p.m. on Thursday, July 10, 1997, at the Town Hall, 3 Village
Circle, Suite 207 (Solana), Westlake, Texas 76262, to consider the following:
Item #1; PUBLIC HEARING concerning the budget for the fiscal year ending September
30, 1998.
Item 42: Consider and take action to approve the budget for the fiscal year ending
September 30, 1998.
The emergency or urgent public necessity for this emergency meeting is that the
Bankruptcy Court in Dallas will hold a hearing at 1:30 p.m. on Friday, July 11, 1997, to
determine whether or not the Town's chapter 9 bankruptcy filing will be dismissed. If the
bankruptcy is dismissed, the Town will be deprived of it's right to assert it's Federal
fraudulent transfer claims under Sec. 548 of the Bankruptcy Code, The Town's
Bankruptcy counsel advises that the budget for the fiscal year ending September 30, 1998,
should be adopted so that it may be considered by the Bankruptcy Court.
I certify that the foregoing Notice of Special Emergency Meeting was posted at
4:00 p.m. on Wednesday, July 9, 1997, and the news media were notified in accordance
with Chapter 551 of the Texas Government Code.
tinge rosswy, Town Se retary