HomeMy WebLinkAboutResolution - 2021-R0234 - Authorization to Publish Notice of Intent to Issue Electric Light and Power BondsMINUTES AND CERTIFICATION PERTAINING TO
PASSAGE OF A RESOLUTION
STATE OF TEXAS §
COUNTY OF LUBBOCK §
CITY OF LUBBOCK §
On the 22nd day of June, 2021, the City Council of the City of Lubbock, Texas, convened
in a regular meeting at the regular meeting place thereof, the meeting being open to the public and
notice of said meeting, giving the date, place and subject thereof, having been posted as prescribed
by Chapter 551, Texas Government Code, as amended; and the roll was called of the duly
constituted officers and members of the City Council, which officers and members are as follows:
Daniel M. Pope, Mayor Juan A. Chadis )
Jeff Griffith, Mayor Pro Tem Shelia Patterson Harris ) Members of
Latrelle Joy } the Council
Steve Massengale )
Randy Christian )
and all of said persons were present, thus constituting a quorum. Whereupon, among other
business, a written Resolution bearing the following caption was introduced:
A RESOLUTION AUTHORIZING PUBLICATION OF A
NOTICE OF INTENTION TO ISSUE ELECTRIC LIGHT AND
POWER SYSTEM REVENUE BONDS.
The Resolution, a full, true and correct copy of which is attached hereto, was read and
reviewed by the City Council. Thereupon, it was duly moved and seconded that the Resolution be
passed and adopted.
The Presiding Officer put the motion to a vote of the members of the City Council, and the
Resolution was passed and adopted by the following vote:
AYES: 7 NOES: 0 ABSTENTIONS: 0
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT, and to
correctly reflect the duly constituted officers and members of the City Council of said City, and
the attached and following copy of said Resolution is hereby certified to be a true and correct copy
of an official copy thereof on file among the official records of the City, all on this the 22nd day
of June, 2021.
4158-1707-8576.1
City kecretary
City of Lubbock, Texas
[SEAL]
4158-1707-8576.1
Resolution No. 2021- R0234
June 22, 2021
Item No. 7.6
A RESOLUTION AUTHORIZING PUBLICATION OF A NOTICE OF
INTENTION TO ISSUE ELECTRIC LIGHT AND POWER SYSTEM
REVENUE BONDS
WHEREAS, the City of Lubbock, Texas (the "City") intends to issue electric light and
power system revenue bonds (the "Revenue Bonds") to: (i) fund acquisition, purchasing,
construction, improvement, renovation, enlarging and/or equipping of property, buildings,
structures, facilities, and/or related infrastructure for Lubbock Power & Light, and (ii) refund
interim obligations issued for such purposes; and
WHEREAS, the City Council has found and determined that a notice of intention to issue
the Revenue Bonds should be published in accordance with the provisions of the City Charter;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK, TEXAS, THAT:
Section 1. The findings and determinations set forth in the preambles hereto are hereby
incorporated by reference for all purposes.
Section 2. The City Secretary of the City is hereby authorized and directed to publish
a notice of intention to issue the Revenue Bonds, in substantially the form set forth in Exhibit A
hereto (the "Notice") incorporated herein by reference for all purposes. The Notice shall be
published once a week for a period of thirty (30) days prior to the date set forth in the Notice for
passage of the ordinance authorizing the Revenue Bonds. Such Notice shall be published in a
newspaper of general circulation in the area of the City.
Section 3. This resolution shall take effect from and after the date of its passage.
[Signature page to follow]
4150-4184-5293.4
Resolution No. 2021- R0234
June 22,2021
Item No. 7_6
ADOPTED THIS June 22, 2021, by the City Council of the City of Lubbock, Texas.
CITY OF LU OCK, TEXAS
DANIEL M. POPE, MAYOR
ATTEST:
Reb cca Garza, City Se ret
APPROVED AS TO CONTENT:
t / 1- • o
D. Blu Kost Lich, Chief Mn cial Officer
APPROVED AS TO FORM:
Jerry V. yle, Jr., Bond Counsel
Signature Page for Notice of Intent Resolution
41504184-5293.4
Resolution No. 2021- R0234
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF LUBBOCK, TEXAS
ELECTRIC LIGHT AND POWER SYSTEM REVENUE BONDS
NOTICE IS HEREBY GIVEN that on August 10, 2021, at 4:30 p.m. at a regular meeting
of the City Council of the City of Lubbock, Texas, to be held in the City Council Chambers at the
Citizens Tower, 1314 Avenue K, Lubbock, Texas, the regular meeting place of the City Council,
the City Council intends to pass one or more ordinances authorizing the issuance of electric light
and power system revenue bonds, in one or more series, in the maximum amount not to exceed
$320,000,000 total principal amount to (i) acquire, purchase, construct, improve, renovate, enlarge,
and/or equip property, buildings, structures, facilities, and/or related infrastructure for Lubbock
Power & Light, and (ii) refund interim obligations issued for such purposes. A complete
description of the bonds being authorized may be obtained from the Finance Department, City of
Lubbock, P.O. Box 2000, Lubbock, Texas 79457; or from RBC Capital Markets, 200 Crescent
Court, Suite 1500, Dallas, Texas 75201, Financial Advisor to the City.
THIS NOTICE is given in accordance with law and as directed by the City Council of the
City of Lubbock, Texas on June 22, 2021.
A-1
4150-4184-5293.4