HomeMy WebLinkAboutResolution - 2004-R0276 - Resolution Approving Certificate Of Obligation - 06/09/2004RESOLUTION NO. 2004-R 0276
Resolution No. 2004-R0276
June 9,. 2004
Item No. 48
A RESOLUTION approving and authorizing publication of (i) notice of intention to
issue certificates of obligation and Qi) notice of sale with respect to such
certificates of obligation.
WHEREAS, the City Council of the City of Lubbock, Texas, has determined that
certificates of obligation should be issued in accordance with the provisions of V.T.C.A., Local
Government Code, Subchapter C of Chapter 271, for the purpose of paying contractual
obligations to be incurred for (i) street improvements, including drainage, street lights, and traffic
signalization and the acquisition of land and rights-of-way therefor, and (ii) professional services
rendered in connection with such projects and the financing thereof; and
WHEREAS, prior to the issuance of said certificates of obligation, this Council is required
to give notice of its intention to issue the same in the manner and time provided by law and to
publish a notice of sale with respect thereto in accordance with the provisions of the City's
Charter; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS:
SECTION 1: The City Secretary is hereby authorized and directed to cause notice to be
published of this Council's intention to issue certificates of obligation in the principal amount not
to exceed $3, 100,000 for the purpose of paying contractual obligations to be incurred for (i)
street improvements, including drainage, street lights, and traffic signalization and the
acquisition of land and rights-of-way therefor, and (ii) professional services rendered in
connection with such projects and the financing thereof, and such certificates shall be payable
from ad valorem taxes and a pledge of the net revenues of the City's Waterworks System. The
notice hereby approved and authorized to be given shall read substantially in the form and
content of Exhibit A hereto attached and incorporated herein by reference as a part of this
resolution for all purposes, and such notice shall be published in a newspaper of general
circulation in the City, once a week for two consecutive weeks, the date of the first publication to
be at least fifteen (15) days prior to the date stated therein for the passage of the ordinance
authorizing the issuance of the certificates of obligation.
SECTION 2: The City Secretary is hereby authorized and directed to cause a notice
relating to the sale of certificates of obligation to be published once a week for a period of thirty
(30) days; such notice of sale to read substantially in the form and content of Exhibit B hereto
attached and incorporated herein by reference as a part of this resolution for all purposes.
SECTION 3: It is officially found, determined, and declared the meeting at which this
Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by V.T.C.A., Government Code, Chapter 551, as amended.
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SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
PASSED AND APPROVED, this June 9, 2004.
ATTEST:
(City Seal}
45462500.1 2
Resolution No. 2004-R0276
Exhibit A
NOTICE OF INTENTION TO ISSUE CITY OF
LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Lubbock, Texas, shall convene at 9:30
o'clock A.M. on the 161h day of August, 2004, at the City Council Chambers, Municipal Complex,
1625 13th Street, Lubbock, Texas, and, during such meeting, the City Council will consider the
adoption of an ordinance authorizing the issuance of certificates of obligation in an amount not
to exceed $3,100,000 for the purpose of paying contractual obligations to be incurred for (i)
street improvements, including drainage, street lights, and traffic signalization and the
acquisition of land and rights-of-way therefor, and (ii) professional services rendered in
connection with such projects and the financing thereof, and such certificates shall be payable
from ad valorem taxes and a pledge of the net revenues of the City's Waterworks System. The
certificates are to be issued, and this notice is given, under and pursuant to the provisions of
V.T.C.A., Local Government Code, Subchapter C of Chapter 271.
45462560.1
Rebecca Garza
City Secretary
City of Lubbock, Texas
Exhibit B
NOTICE OF SALE
$3,100,000
Resolution Ho. 2004-R0276
City of Lubbock, Texas, Tax and Waterworks System Surplus
Revenue Certificates of Obligation, Series 2004
On the 161h day of August, 2004, the City Council of the City of Lubbock, Texas, plans to
sell the above referenced certificates of obligation during its regular meeting scheduled to begin
at 9:30 o'clock AM ..
A complete description of the pertificates being authorized and sold may be obtained
from the Division of Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457; or from
First Southwest Company, 325 North Saint Paul, Suite 800, Dallas, Texas 75201, Financial
Consultants to the City.
45462560.1
Rebecca Garza
City Secretary
City of Lubbock, Texas
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
CERTIFICATE OF CITY SECRETARY
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§
Resolution No. 2004-R0276
I, the undersigned, City Secretary of the City of Lubbock, Texas, DO HEREBY CERTIFY
as follows:
1. On the gth day of June, 2004, a regular meeting of the City Council of the City of
Lubbock, Texas, was held at a meeting place within the City; the duly constituted members of
the Council being as follows:
MARC McDOUGAL
JIM GILBREATH
PHYLLIS JONES
LINDA DELEON
T. J. PATIERSON
GARY BOREN
TOM MARTIN
)
)
)
)
)
)
MAYOR
COUNCILMEMBERS
and all of said persons were present at said meeting, except the following: -------
(all present) . Among other business considered at said meeting, the
attached resolution entitled:
"A RESOLUTION approving and authorizing publication of {i) notice of intention
to issue certificates of. obligation and (ii) notice of sale with respect to
such certificates of obligation."
was introduced and submitted to the Council for passage and adoption. After presentation and
due consideration of the resolution, and upon a motion being made by Tom Hartin
and seconded by Gary Boren , the resolution was finally passed and adopted
by the Council to be effective immediately by the following vote:
7 voted "For" ---__ o __ voted "Against" O abstained
all as shown in the official Minutes of the Council for the meeting held on the aforesaid date.
2. The attached resolution is a true and ·correct copy of the original on file in the
official records of the City; the duly qualified and acting members of the City Council of said City
on the date of the aforesaid meeting are those persons shown above and, according to the
records of my office, advance notice of the time, place and purpose of the meeting was given to
each member of the Council; and that said meeting and the deliberation of the aforesaid public
business was open to the public and written notice of said meeting, including the subject of the
above entitled resolution, was posted and given in advance thereof in compliance with the
provisions of V.T.C.A., Government Code, Chapter 551, as amended.
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IN WITNESS WHEREOF, I hav~ hereunto signed my name officially and affixed the seal
of said City, this the 91t1 day of June, 2004.
City of Lubbock, Texas
(City Seal)
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