HomeMy WebLinkAboutMinutes - City Council - Special - 4/26/1991CITY OF LUBBOCK
SPECIAL CITY COUNCIL MEETING
MINUTES
APRIL 26, 1991
8:00 A.M.
The City Council of the City of Lubbock, Texas met in a special called
meeting on the 26th day of April, 1991 in the City Council Chambers,
first floor, City Hall, 1625 13th Street, Lubbock, Texas at 8:00 A.M.
Present: Mayor B. C. McMinn, Mayor Pro Tem T. J. Patterson, Councilman
Gary Phillips, Councilman Bill Maloy, Councilwoman Joan Baker,
Councilwoman Maggie Trejo, City Manager Larry J. Cunningham, City
Attorney John C. Ross, Jr., and City Secretary Ranette Boyd.
Absent: Councilman M. J. Aderton.
Mayor McMinn called the meeting to order at 8:00 A.M.
( l.) The Invocation was given by Mark Hindman, Budget and
Research Director.
( 2.) The Pledge of Allegiance was given in unison by
those in the Council Chambers.
91-50A-291-248
( 3.) ORDINANCE #9432--
and Power System Revenue Bonds, Series 1991".
prescribing the forms, terms, and provisions of said
bonds; pledging the net revenues of the City's
Electric Light and Power revenues of the City's
ORDINANCE #9432
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $7,500,000 "CITY OF
LUBBOCK, TEXAS, ELECTRIC LIGHT AND POWER SYSTEM REVENUE BONDS, SERIES
1991"; PRESCRIBING THE FORMS, TERMS, AND PROVISIONS OF SAID BONDS;
PLEDGING THE NET REVENUES OF THE CITY'S ELECTRIC LIGHT AND POWER SYSTEM
TO THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS; ENACTING
PROVISIONS INCIDENT AND RELATED TO THE ISSUANCE, PAYMENT, SECURITY, SALE
AND DELIVERY OF SAID BONDS, INCLUDING THE APPROVAL AND DISTRIBUTION OF
AN OFFICIAL STATEMENT PERTAINING THERETO, AND PROVIDING AN EFFECTIVE
DATE.
Motion was made by Mayor Pro Tem Patterson, seconded
by Councilman Maloy to pass on second and final
reading Ordinance #9432. Motion carried: 6 Yeas; 0
Nays.
April 26, 1991
Page 292
91-50A-292-249
( 4.) ORDINANCE #9433--Approving and authorizing the
execution and delivery of "City of Lubbock, Texas,
Public Property Finance Contractual Obligations,
Taxable Series 1991"; specifying the terms of such
acquisition of property; and providing an effective
date.
ORDINANCE #9433
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY
OF "CITY OF LUBBOCK, TEXAS, PUBLIC PROPERTY FINANCE CONTRACTUAL
OBLIGATIONS, TAXABLE SERIES 1991"; SPECIFYING THE TERMS OF SUCH
CONTRACTS; MAKING PROVISIONS FOR THE PAYMENT THEREOF; AND RESOLVING
OTHER MATTERS INCIDENT AND RELATED TO THE EXECUTION, PERFORMANCE AND
PAYMENT OF SUCH CONTRACTS, INCLUDING THE APPROVAL AND EXECUTION OF A
SPECIAL ESCROW DEPOSIT AGREEMENT FOR THE ACQUISITION OF PROPERTY; AND
PROVIDING AN EFFECTIVE DATE.
91-50A-292-250
( 5•)
Motion was made by Councilwoman Trejo, seconded by
Councilman Maloy to pass on second and final reading
Ordinance #9433. Motion carried: 6 Yeas; 0 Nays.
other matters incident and related to the issuance
sale, payment and delivery of said bonds, including
the approval of an Official Statement pertaining
thereto; and providing and effective date.
ORDINANCE #9434
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF LUBBOCK, TEXAS,
GENERAL OBLIGATION BONDS, SERIES 199111; SPECIFYING THE TERMS AND
FEATURES OF SAID BONDS; LEVYING A CONTINUING DIRECT ANNUAL AD VALOREM
TAX FOR THE PAYMENT OF SAID BONDS; AND RESOLVING OTHER MATTERS INCIDENT
AND RELATED TO THE ISSUANCE, SALE, PAYMENT AND DELIVERY OF SAID BONDS,
INCLUDING THE APPROVAL OF AN OFFICIAL STATEMENT PERTAINING THERETO; AND
PROVIDING AN EFFECTIVE DATE.
91-50A-292-251
( 6.)
Motion was made by Councilman Phillips, seconded by
Mayor Pro Tem Patterson to pass on second and final
reading Ordinance #9434. Motion carried: 6 Yeas;
0 Nays.
Series 1991"; levying an ad valorem tax upon all
taxable property in the City and pledging the Net
Revenues of the City's Solid Waste Disposal System
for the payment of said Certificates; prescribing
thereto; and providing an effective date.
April 26, 1991
Page 293
ORDINANCE #9437
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND SOLID WASTE DISPOSAL SYSTEM REVENUE CERTIFICATES OF
OBLIGATION, SERIES 199111; LEVYING AN AD VALOREM TAX UPON ALL TAXABLE
PROPERTY IN THE CITY AND PLEDGING THE NET REVENUES OF THE CITY'S SOLID
WASTE DISPOSAL SYSTEM FOR THE PAYMENT OF SAID CERTIFICATES; PRESCRIBING
THE TERMS AND DETAILS OF SUCH CERTIFICATES AND RESOLVING OTHER MATTERS
INCIDENT AND RELATED TO THE ISSUANCE, SALE, SECURITY, PAYMENT AND
DELIVERY OF SAID CERTIFICATES, INCLUDING THE APPROVAL AND DISTRIBUTION
OF AN OFFICIAL STATEMENT PERTAINING THERETO; AND PROVIDING AN EFFECTIVE
DATE.
Motion was made by Councilman Maloy, seconded by
Councilwoman Trejo to pass on second and final
reading Ordinance #9437. Motion carried: 6 Yeas; 0
Nays.
91-50A-293-252
( 7.) ORDINANCE #9436--Authorizing the issuance of "City
of Lubbock Texas Combination Tax and Exhibition
Hall/Auditorium (Limited Pledge) Revenue
Certificates of Obligation, Series 1991"; specifying
City's Exhibition Hall/Auditorium; and resolving
other matters incident and relating to the issuance,
payment, security, sale and delivery of said
Certificates, including the approval and
distribution of an Official Statement pertaining
ORDINANCE #9436
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND EXHIBITION HALL/AUDITORIUM (LIMITED PLEDGE) REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1991"; SPECIFYING THE TERMS AND
FEATURES OF SAID CERTIFICATES; PROVIDING FOR THE PAYMENT OF SAID
CERTIFICATES OF OBLIGATION BY THE LEVY OF AN AD VALOREM TAX UPON ALL
TAXABLE PROPERTY WITHIN THE CITY AND A LIMITED PLEDGE OF THE NET
REVENUES FROM THE OWNERSHIP OF THE CITY'S EXHIBITION HALL/AUDITORIUM;
AND RESOLVING OTHER MATTERS INCIDENT AND RELATING TO THE ISSUANCE,
PAYMENT, SECURITY, SALE AND DELIVERY OF SAID CERTIFICATES, INCLUDING THE
APPROVAL AND DISTRIBUTION OF AN OFFICIAL STATEMENT PERTAINING THERETO
AND THE EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT IN CONNECTION
THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
Motion was made by Councilman Maloy, seconded by
Councilman Phillips to pass on second and final
reading Ordinance #9436. Motion carried: 6 Yeas; 0
Nays.
April 26, 1991
Page 294
91-50A-294-253
( 8.) ORDINANCE #9435--Authorizing the issuance of "City
of Lubbock Texas Combination Tax and Waterworks
System Subordinate Lien Revenue Certificates of
Obligation, Series 1991"; levying an ad valorem tax
upon all taxable property in the City and pledging
the Net Revenues of the City's Waterworks System for
the payment of said Certificates; prescribing the
terms and details of such Certificates and resolving
other matters incident and related to the issuance
sale, security, payment and delivery of said
Certificates, including the approval and
distribution of an Official Statement pertaining
thereto; and providing an effective date.
ORDINANCE #9435
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND WATERWORKS SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION, SERIES 199111; LEVYING AN AD VALOREM TAX UPON
ALL TAXABLE PROPERTY IN THE CITY AND PLEDGING THE NET REVENUES OF THE
CITY'S WATERWORKS SYSTEM FOR THE PAYMENT OF SAID CERTIFICATES;
PREXCRIBING THE TERMS AND DETAILS OF SUCH CERTIFICATES AND RESOLVING
OTHER MATTERS INCIDENT AND RELATED TO THE ISSUANCE, SALE, SECURITY,
PAYMENT AND DELIVERY OF SAID CERTIFICATES, INCLUDING THE APPROVAL AND
DISTRIBUTION OF AN OFFICIAL STATEMENT PERTAINING THERETO; AND PROVIDING
AN EFFECTIVE DATE.
Motion was made by Councilwoman Baker, seconded by
Mayor Pro Tem Patterson to pass on second and final
reading Ordinance #9435. Motion carried: 6 Yeas;
0 Nays.
There being no further business to come before Council, motion was made
by Mayor Pro Tem Patterson, seconded by Councilman Maloy to adjourn the
meeting at 8:08 a.m. 'Motion carried: 6 Yeas; 0 Nays.
/s/ B.C. McMinn
B. C. McMinn, Mayor
ATTEST:
/s/ Ranette Boyd
Ranette Boyd, City Secretary
Read and approved this 9th day of May, 1991.
/s/ B.C. McMinn
B. C. McMinn, Mayor
ATTEST:
/s/ Ranette Boyd
Ranette Boyd, City Secretary