HomeMy WebLinkAboutResolution - 2005-R0026 - Intent To Issue Contract Revenue Bonds - Groundwater Supply Project - 01_13_2005Resolution No. 2005-R0026
January 13, 2005
Item No. 49
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock (the "City") is hereby authorized and
directed to execute for and on behalf of the City the City's response (the "Response") to
the Canadian River Municipal Water Authority (the "Authority") regarding the
Authority's Notice of Intent to Issue Contract Revenue Bonds, Series 2005 related to the
Conjunctive Use Groundwater Supply Project. A copy of the Response is attached hereto
and shall constitute and be a part hereof as if fully copied herein.
Passed by the City Council this 13th day of January 20045.
ATTEST:
Reb&ca Garza, City Secretary
APPROVED AS TO CONTENT:
Cesterarthel
Water Planning Engineer
Lee Dumbauld
Chief Financial Officer
APPROVED AS TO FORM:
0, ( L 9.
Richard K. Casner
First Assistant City Attorney
as/e ityatt/Anita/Res. AuthorityRevenueBonds
Resolution No. 2005-R0026
January 13, 2005
Item No. 49
TO: The Canadian River Municipal Water Authority (the "Authority")
Please be advised that in response to the Authority's notice of intent dated
November_, 2004, the City of Lubbock, Texas (the "City") advises that in
connection with the issuance of the Canadian River Municipal Water Authority
Contract Revenue Bonds, Series 2005 (Conjunctive Use Groundwater Supply
Project).
Increased Amount
X If all Member Cities also agree, the City agrees to the
increase in the amount of Project Construction Costs to
$153,570,000 with a total par amount of the Authority's
Contract Revenue Bonds Series 2005 (Conjunctive Use
Groundwater Supply Project) not to exceed $57,000,000.
The City does not agree to the increase and will require that
the Authority issue its bonds in the limits specified in the
Conjunctive Use Groundwater Supply Agreement.
The City will fund its portion of the Project Construction Costs:
X Solely through the participation in the Authority's Revenue
Bonds.
Exclusively through its own funds and will provide
certification of availability of funds as required by the
Conjunctive Use Groundwater Supply Agreement between
the Authority and the City.
A cash contribution of its own funds in an amount of
$ , and will provide a certification of availability of
funds as required by the Contract between the Authority and
the City, and the remainder of its portion will be financed
through participation in the Authority's Revenue Bonds.
The City agrees to the Authority's issuance of its Revenue Bonds on
January 12, 2005, or as soon thereafter as possible.
January, 2005.
Executed this 13th day of Deeembff, 2004.
CITY OF LUBBOCK
ATTEST:
e ecca Garza, City Secreta
APPROVED AS TO CONTENT:
�7
Chester Carthel
Water Planning Engineer
ztw b-"'t4�
Le n Dumbauld
Chief Financial Officer
APPROVED AS TO FORM:
Richard K. Casner
First Assistant City Attorney
as/CityAtt/Richard/Canadian RiverMunicipalWaterAuthority