HomeMy WebLinkAboutResolution - 2004-R0281 - Notice Of Sale Of General Obligation Bonds - 06/09/2004RESOLUTION NO. 2004-R 0281
Resolution No. 2004-R0281
June 9, 2004
Item No. 61
A RESOLUTION approving and authorizing publication of notice Of sale with
respect to general obligation bonds.
WHEREAS, the City Council of the City of Lubbock, Texas, has determined to issue
general obligation bonds in the principal amount of $2,025,000 and, in accordance with the
provisions of the City's Charter, the sale Of such bonds is to be advertised in a newspaper once
a week for a period of 30 days; 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 a notice of
sale relating to the sale Of general obligation bonds 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 A
hereto attached and incorporated herein by reference as a part of this resolution for all
purposes.
SECTION 2: It is officially found, determined, and declared that 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.
SECTION 3: 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)
45462558.1
Exhibit A
NOTICE OF SALE
$2,025,000
Resolution No. 2004-R0281
City of Lubbock, Texas, General Obligation Bonds, Series 2004
On the 15th day of August, 2004, the City Council of the City of Lubbock, Texas, plans to
sell the above referenced bonds during its regular meeting scheduled to begin at 9:30 o'clock
AM ..
A complete description of the Bonds 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.
45462558.1
Rebecca Garza
City Secretary
City of Lubbock, Texas
Resolution No. 2004-R0281
2004 APPROVED BOND ISSUE SALE
Approved Bond 2004Bond Future
Project Descriptions Program Issuance Issuance
Fire Station 12 Rehab/Fire Station 8 Replacement $ 1,405,000 $ 80,000 1,325,000
Fire 1,405,000 80,000 1,325,000
Animal Shelter Renovation 1,045,000 154,000 891,000
Animal Shetter 1,045,000 154,000 891,000
Police/Municipal Court Renovation (Partial Funding) 2,500,000 2,500,000
East Lubbock City Services Center/Pilot Program 850,000 850,000
Police 3,350,000 3,350,000
MLK Little League Complex (3 Fields) 1,665,000 116,000 1,549,000
Miller & Andrews Park Redevelopment 825,000 825,000
Burgess-Rushing Tennis Center Expansion 1,085,000 65,000 1,020,000
Indoor Recreation Center in West Lubbock with partnership 25,000 25,000
Midwest Little League Complex (3 Fields} 1,665,000 1,665,000
Phase I New Park-Southwest Lubbock/Soccer 1,130,000 1, 130,000
Parks 6,395,000 181,000 6,214,000
Mahon Renovation (Partial Funding) 2,145,000 2,145,000
Libraries 2,145,000 2,145,000
Auditorium Renovation (Partial Funding} 5,000,000 5,000,000
Civic Center Renovation Phase II (Partial Funding) 1,450,000 1.450,000
Civic Center/Auditorium 6,450,000 6,450,000
Slide @ N. Loop or Erskine from Frankford to Quaker** 2,000,000 ** 2,000,000
Subdivision Assessment 500,000 170,000 330,000
34th & University Intersection Reconstruction 1,395,000 1,395,000
Milwaukee from 45th to Spur 327 Strip Paving** 1,090,000 1,090,000 0
N/E Lubbock Infrastructure for New Residential Subdivision 1,300,000 1,300,000
Regis Street Completion 365,000 365,000
Federally Mandated Curb Ramps 50,000 10,000 40,000
City-Wide Traffic Signal Communications Upgrade 510,000 150,000 360,000
Traffic Signals-New Locations 450,000 100,000 350,000
Sidewalk Construction Including Safe Routes to Schools 400,000 400,000
Low/Moderate Income Area Street Paving 400,000 400,000
N. University "Gateway" Project 750,000 750,000
Streets $ 9,210,000 $ 1,520,000 $ 7,690,000
GRAND TOTAL $ 30,000,000 $ 1,935,000 $ 28,065,000
Originally Available without a tax increase $2,325,000
less $300,000 for Erskine, Slide, Quaker engineering $2,025,000
less $90,000 cost of issuance -REVISED AVAILABLE $1,935,000
*'* Eligible for "Gateway" Funding
Resolution No. 2004-R0281
FUND: STREET CAPITAL PROJECTS FUND PROJECT#: 915
LOCATION: NORTHWEST LUBBOCK
PROJECT: EQS ENVIRONMENTAL PROJECT CITY ENGINEER
MANAGER:
PROJECT DESCRIPTION
EQS (ERSKINE/QUAKER/SLIDE) ENVIRONMENTAL DOCUMENT. THIS PROJECT WILL PROVIDE FOR THE
PREPARATION OF AN ENVIRONMENTAL DOCUMENT, PRELIMINARY ENGINEERING, SCHEMATICS AND OTHER WORK
NECESSARY FOR THE ENVIRONMENTAL CLEARANCE FOR THE FUTURE CONSTRUCTION OF THIS PROJECT. THE
LOCATION OF THE PROJECT AREA IS IN NORTHWEST LUBBOCK AND WILL INCLUDE THE FOLLOWING SPECIFIC
LOCATIONS: LOOP 289 MAIN LANES FROM FRANKFORD TO CLOVIS ROAD; 4TH ST & LOOP 289 GRADE ~EPARATION;
SLIDE ROAD & LOOP 289 GRADE SEPARATION; SLIDE ROAD FROM ERSKINE STREET TO 4TH STREET; ERSKINE
STREET FROM FRANKFORD AVE. TO QUAKER AVENUE; ERSKINE STREET & LOOP 289 GRADE SEPARATION. THIS
INITIAL FUNDING AMOUNT OF $50,000 IS PROPOSED TO BE SUPPLEMENTED BY $600,000 FOR A TOTAL PROJECT
BUDGET OF $650,000. ·
ANNUAL OPERATING IMPACT
THE PREPARATION OF THIS ENVIRONMENTAL DOCUMENT WILL HAVE NO IMPACT ON THE OPERATING BUDGET.
DESIGN 10000
START END
07104 08/05
$650,000
ACCOUNT
FULL-TIME SAL 8002
PROF SVCS 8302
!COMPLETION 08/05
SOURCE OF FUNDING
81020000
START I END
I
$0
ACCOUNT
STREET CAPITAL PROJECTS FUND
CERTIFICATE OF OBLIGATION BONDS
!TOTAL
PROJECT SCHEDULING
ACQUISITION 40000 INSTALLATION 50000
START END START END
I I
$0 $0
ACCOUNT ACCOUNT ACCOUNT
TOTAL
L-T-D REV 03-04
0 50,000
0 600,000
$0 $650,000
$650,000.00
BUD 04-05 TOTAL
0 50,000
0 600,000
$0 $650,000
FUTURE
0
0
$0 I
Resolution No. 2004-R0281
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
§
§
§
§
§
I, the undersigned, City Secretary of the City of Lubbock, Texas, DO HEREBY CERTIFY
as follows:
1. On the 9th 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. PATTERSON
GARY BOREN
TOM MARTIN
)
)
)
)
)
)
MAYOR
COUNCILMEMBERS
and all of said persons were present at said meeting, except the following: -------
T • J • Patterson . Among other business considered at said meeting, the
attached resolution entitled:
"A RESOLUTION approving and authorizing publication of notice of sale with
respect to general obligation bonds."
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 Jim Gilbreath
and seconded by Phyllis Jones , the resolution was finally passed and adopted
by the Council to be effective immediately by the following vote:
6 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 ..
45464861.1 1
IN WITNESS WHEREOF, I hav~ hereunto signed my name officially and affixed the seal
of said City, this the gth day of June, 2004.
CitY ecretary
City of Lubbock, Texas
(City Seal)
45464861.1 2