HomeMy WebLinkAboutResolution - 2017-R0491 - Tax And Waterworks Bonds - 12/18/2017Resolution No. 2017-P2na4t
December 18, 2017
Item No. 71 5
A RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE TAX AND WATERWORKS SYSTEM SURPLUS
REVENUE CERTIFICATES OF OBLIGATION
WHEREAS, the City of Lubbock, Texas (the "City"), pursuant to Subchapter C,
Chapter 271, Texas Local Government Code, as amended, is authorized to issue its certificates of
obligation (the "Certificates") for the purpose of paying contractual obligations to be incurred for
the purposes set forth in Exhibit A hereto;
WHEREAS, the City Council of the City has found and determined that a notice of
intention to issue the Certificates should be published in accordance with the requirements of
applicable law;
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 Certificates, 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 two consecutive weeks, the date of the first publication being not later
than the day before the thirtieth (30th) day prior to the date set forth in the Notice for passage of
the ordinance authorizing the Certificates. 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 follows]
HOU:3847415.2
Resolution No. 2017- R O 91
December 18, 2017
Item No. --7-15
ADOPTED THIS December 18, 2017, by the City Council of the City of Lubbock,
Texas.
CITY OF LUBBOCK, TEXAS
DANIEL M. POPE, MAYOR
ATTEST:
Reb cca Garza, City Secr tart'
APPROVED AS TO CONTENT:
Z�� &�
D. Blu Kos elich, Chie Financial Officer
APPROVED AS TO FORM:
i'
Jerry V. kyle, Jr., Bond Counsel
Signature Page for Notice of Intent Resolution
HOU:3847415.2
Resolution No. 2017- R0491
Exhibit A
NOTICE OF INTENTION TO ISSUE CITY OF LUBBOCK, TEXAS
TAX AND WATERWORKS SYSTEM SURPLUS REVENUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that on March 22, 2018, at 5:15 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 Municipal Complex, 1625 13th Street, Lubbock, Texas, the regular meeting place of the City
Council, the City Council intends to pass one or more ordinances authorizing the issuance of not
to exceed $60,000,000 total principal amount of one or more series of certificates of obligation
(the "Certificates") to be issued from time to time for the purpose of paying contractual
obligations to be incurred for the following purposes, to wit: (a) acquisition, construction,
renovation, improvement and equipment of land, buildings and other facilities related to a Public
Safety Improvements Project, consisting of police facilities and municipal court facilities,
including parking, infrastructure and other costs related thereto (the "Project"), and (b) payment
of professional services of attorneys, financial advisors, engineers and other professionals in
connection with the Project and the issuance of the Certificates. Said Certificates shall be
payable from the levy of a direct and continuing ad valorem tax, levied within the limits
prescribed by law, against all taxable property within the City sufficient to pay the interest on
said Certificates as due and to provide for the payment of the principal thereof as the same
matures, as authorized by Subchapter C, Chapter 271, Texas Local Government Code, as
amended, and from all or a part of the surplus net revenues of the City's Waterworks System,
such pledge of surplus net revenues being limited to $1,000.
THIS NOTICE is given in accordance with law and as directed by the City Council of the
City of Lubbock, Texas on December 18, 2017.
A-1
HOU:3847415.2
MINUTES AND CERTIFICATION PERTAINING TO
PASSAGE OF A RESOLUTION
STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
On the 18th day of December, 2017, 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
Karen Gibson, Mayor Pro Tern
W. Jarrett Atkinson, City Manager
D. Blu Kostelich, Chief Financial Officer
Rebecca Garza, City Secretary
Juan A. Chadis
Sheila Patterson Harris
Jeff Griffith
Steve Massengale
Latrelle Joy
Members of
the Council
and all of said persons were present, except N/A , thus constituting a quorum.
Whereupon, among other business, a written Resolution bearing the following caption was
introduced:
A RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF
INTENTION TO ISSUE TAX AND WATERWORKS SYSTEM SURPLUS
REVENUE CERTIFICATES OF OBLIGATION
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: 4 NOES: 3 ABSTENTIONS: 0
4148-9087-9507.1
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 18th
day of December, 2017.
Rebec4 Garza, City Secret y
City ofLubbock, Texas
[SEAL]
4148-9087-9507.1