HomeMy WebLinkAboutResolution - 5706 - Approving & Authorizing Publication - Notice, Certificates Of Obligation - 11_13_1997Item #46
November 13, 1997
RESOLUTION NO. 5706
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.
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) improvements and extensions to
the City's Waterworks System, (ii) site development for solid waste
disposal, and (iii) 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 deems it appropriate to publish a notice of sale with respect
to such certificates of obligation in accordance with the
procedures set forth in 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 $10,260,000 for the purpose of paying
contractual obligations to be incurred for (i) improvements and
extensions to the City's Waterworks System, (ii) site development
for solid waste disposal, and (iii) professional services rendered
in connection with such projects and the financing thereof, such
certificates to be payable from ad valorem taxes and a limited
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 of sale 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
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the form and content of Exhibit B hereto attached and incorporated
herein by reference as a part of this resolution for all purposes.
PASSED AND APPROVED, this November 13, 1997.
ATTEST:
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it Secretary
(City Seal)
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CITY OF LUBBOCK, TEXAS
Mayor
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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 8:00 o'clock A.M. on the 8th day of
January, 1998, at the City Council Chambers, Municipal Complex,
1625 13th Street, Lubbock Texas, and, during such meeting, the
City Council will consider the second reading and final adoption
of an ordinance authorizing the issuance of certificates of
obligation in an amount not to exceed $10,260,000 for the purpose
of paying contractual obligations to be incurred for (i)
improvements and extensions to the City's Waterworks System, (ii)
site development for solid waste disposal, and (iii) professional
services rendered in connection with such projects and the
financing thereof, such certificates to be payable from ad
valorem taxes and a limited 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.
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Kaythie Darnell
City Secretary
City of Lubbock, Texas
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Exhibit B
NOTICE OF SALE
$10,260,000
City of Lubbock, Texas, Tax and Waterworks System (Limited
Pledge) Revenue Certificates of Obligation, Series 1998
The City Council of the City of Lubbock, Texas, will receive
sealed bids at the office of the Director of Financial Services,
Room 204, Municipal Complex, 1625 13th Street, Lubbock, Texas,
until 11:00 o'clock A.M., January 8, 1998.
A complete description of the Certificates being offered for
sale, together with the terms of sale, security for their payment
and financial information and operating data about the City appear
in an Official Notice of Sale, Bidding Instructions and an Official
Statement, which can be obtained from the Division of Finance, City
of Lubbock, P.O. Box 2000, Lubbock, Texas 79457; or from First
Southwest Company, 1700 Pacific Avenue, Suite 500, Dallas, Texas
75201, Financial Consultants to the City.
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Kaythie Darnell
City Secretary
City of Lubbock, Texas
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 13th day of November, 1997, 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:
WINDY SITTON MAYOR
ALEX "TY" COOKE ) MAYOR PRO TEM
VICTOR HERNANDEZ )
T. J. PATTERSON )
DAVID NELSON ) COUNCILMEMBERS
MAX INCE )
RANDY NEUGEBAUER )
and all of said persons were present at said meeting, except the
following: Nag 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 Councilmember Patterson
and seconded by Councilmember Nelson the resolution was
finally passed and adopted by the Council to be effective
immediately by the following vote:
---6 voted "For" A voted "Against" p abstained
1 councilmember stepped away
al'T—as shown in the official Minutes of the Council for the
meeting held on the aforesaid date.
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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.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said City, this the 13th day of
November, 1997.
Cit ecretary, City of
Lubbock, Texas
(City Seal)
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