HomeMy WebLinkAboutResolution - 6343 - Notice Of Intent To Issue Certificates Of Obligation - CRMWA - Water Supply - 06_10_1999Resolution No.6343
June 10, 1999
RESOLUTION NO. 6343 Item No. 81
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 all or part of the City's obligations
incurred by contract for interest in and rights to water in connection with a water supply and
transmission project to be constructed by the Canadian River Municipal Water Authority, and to
pay contracts for professional services rendered in connection with such project 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; 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 $26,000,000 for the purpose of paying all or part of the City's obligations incurred by
contract for interest in and rights to water in connection with a water supply and transmission
project to be constructed by the Canadian River Municipal Water Authority, and to pay contracts
for professional services rendered in connection with such project and the financing thereof, such
certificates to be payable from ad valorem taxes and a lien on and 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 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 June 10, 1999.
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City 46Vetary Raythie Darnell
(City
767406.1
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 10:00
o'clock A.M. on the 201h day of September, 1999, 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 $26,000,000 for the purpose of paying all or
part of the City's obligations incurred by contract for interest in and rights to water in connection
with a water supply and transmission project to be constructed by the Canadian River Municipal
Water Authority, and to pay contracts for professional services rendered in connection with such
project and the financing thereof, such certificates to be payable from ad valorem taxes and a lien
on and 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.
Kaythie Darnell
City Secretary
City of Lubbock, Texas
767406.1
Exhibit B
NOTICE OF SALE
$26,000,000
City of Lubbock, Texas, Tax and Waterworks System Surplus
Revenue Certificates of Obligation, Series 1999
On the 20"' day of September, 1999, 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 10:00 o'clock A.M..
A complete description of the Certificates 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, 1700 Pacific Avenue, Suite 500, Dallas, Texas 75201, Financial
Consultants to the City.
Kaythie Darnell
City Secretary
City of Lubbock, Texas
767406.1
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 10" day of ,tune, 1999, 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 )
VICTOR HERNANDEZ )
T. J. PATTERSON )
DAVID NELSON ) COUNCILMEMBERS
MAX INCE )
MARC McDOUGAL )
and all of said persons were present at said meeting, except the following:
None 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 ano
due consideration of the resolution, and upon a motion being made by Alex "Ty" Coo e
and seconded by David Nelson , the resolution was finally passed and adopted by the
Council to be effective immediately by the following vote:
7_ voted "For" D voted "Against" D 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
767416.1
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 101h day of June, 1999.
(City Seal) LL
767416.1
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C etary, City of Lubbock, Texas