HomeMy WebLinkAboutResolution - 2003-R0207 - Notice Of Intention To Issue Water System Certificates Of Obligation - 05_22_2003Resolution No. 2003-RO207
May 22, 2003
RESOLUTION NO. Item No. 57
A RESOLUTION approving and authorizing publication of (i) notice of intention to
issue water system 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,
including recreational improvements to Lake Alan Henry reservoir and (ii) professional services
rendered in connection with such projects and the financing thereof; and
WHEREAS, the City has determined to take bids for the purchase of such certificates of
obligations and 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 $9,775,000 for the purpose of paying contractual obligations to be incurred for (i)
improvements and extensions to the City's Waterworks System, including recreational
improvements to Lake Alan Henry reservoir and (ii) professional services rendered in
connection with such projects 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
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.
LUBBOCK WATER C_O 2003_INTENT NOS RES.DOC
SECTION 4: This Resolution shall be in force and effect from and after its passage on
the date shown below.
PASSED AND APPROVED, this May 22, 2003.
ATTEST:
(Pwe�e'�' S-��
City Secretary
(City Seal)
LUBBOCK WATER C_O 2003_INTENT NOS RES.DOC 2
Exhibit A
NOTICE OF INTENTION TO ISSUE CITY OF
LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION
FOR WATER SYSTEM IMPROVEMENTS
TAKE NOTICE that the City Council of the City of Lubbock, Texas, shall convene at
10:30 o'clock A.M. on the 24th day of July, 2003, 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 $9,775,000 for the purpose of paying contractual obligations to be
incurred for (i) improvements and extensions to the City's Waterworks System, including
recreational improvements to Lake Alan Henry reservoir 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.
Rebecca Garza
City Secretary
City of Lubbock, Texas
45313729.1
Exhibit B
NOTICE OF SALE
$9,775,000
City of Lubbock, Texas, Tax and Waterworks System Surplus
Revenue Certificates of Obligation, Series 2003
On the 24t' day of July, 2003, 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 10:30 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.
Rebecca Garza
City Secretary
City of Lubbock, Texas
45313729.1
Lake Alan Henry Fencing Funded by 2003 CO: $160,000
This capital project will provide for a net-wire/barbed wire fence to be constructed around the
dam and the associated facilities at the dam. The fence is needed due to the encroachment of
feral hogs onto the surface of the downstream slope of the darn —continually causing damage to
the grass surface causing erosion gullies and the irrigation system/heads utilized upon the slope
surface.
Water Facilities Security Improvements Funded by 2003 CO: $625,000
This project will allow enhancement of security at all potable water facilities. Based on site
surveys and recommendations by the Lubbock Police Department this project is designed to
address the risk of criminal trespass that could result in facility damage or water contamination
at pump stations, storage facilities, terminal storage, Sudan pump station and the water
treatment plan. An EPA mandated vulnerability assessment of the water system was completed
in January 2003. This project will be used to implement solutions to security needs resulting from
the assessment.
Sandhills Well field Roads Rehabilitation Funded by 2003 CO: $150,000
This project will rehabilitate several miles of unpaved access roads in the Sandhills well field.
These roads need to be resurfaced due to the deterioration caused by years of repeated grading
and the sandy base.
Terminal Storage Solids Handling Funded by 2003 CO: $500,000
This project will remove existing solids/sludge from the Terminal Storage Reservoir. It will also
include construction of a decanting process for used filter backwash water. This process will
substantially reduce or eliminate the solids before this water is returned to the Terminal Storage
Reservoir.
Summary/Recommendation:
As this action is the first necessary step to proceed with a bond issuance, staff reconunends
passage of these resolutions. Pricing date is set for July 22, 2003.
Resolution No. 2003-RO207
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
10:30 o'clock A.M. on the 24th day of July, 2003, 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 $9,775,000 for the purpose of paying contractual obligations to be
incurred for (i) improvements and extensions to the City's Waterworks System, including
recreational improvements to Lake Alan Henry reservoir and (ii) professional services rendered
in connection with such projects 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.
Rebecca Garza
City Secretary
City of Lubbock, Texas
LUBBOCK WATER C_O 2003_INTENT NOS RES.DOC
Resolution No. 2003-RO207
Exhibit B
NOTICE OF SALE
$9,775,000
City of Lubbock, Texas, Tax and Waterworks System Surplus
Revenue Certificates of Obligation, Series 2003
On the 24th day of July, 2003, 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 10:30 o'clock A.M..
A complete description of the Certificates
from the Division of Finance, City of Lubbock, P.O
First Southwest Company, 1700 Pacific Avenue,
Consultants to the City.
LUBBOCK WATER C_O 2003-INTENT
NOS RES.DOC
being authorized and sold may be obtained
. Box 2000, Lubbock, Texas 79457; or from
Suite 500, Dallas, Texas 75201, Financial
Rebecca Garza
City Secretary
City of Lubbock, Texas
Resolution No. 2003-B0207
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
1, the undersigned, City Secretary of the City of Lubbock, Texas, DO HEREBY CERTIFY
as follows:
1. On the 22"d day of May, 2003, 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 )
FRANK W. MORRISON )
VICTOR HERNANDEZ )
T. J. PATTERSON )
GARY BOREN )
TOM MARTIN )
A'6'�
COUNCILMEMBERS
and all of said persons were present at said meeting, except the following:
. 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 for water system improvements 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 martin
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' 0 voted "Against" 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.
45316160.1
IN WITNESS WHEREOF, I have hereunto signed my name officially and affixed the seal
of said City, this the 22"d day of May, 2003.
C '�� Q& x-���
City ecretary
City of Lubbock, Texas
(City Seal)
45316160.1 2