HomeMy WebLinkAboutResolution - 3564 - Notices Of Inssuance & Sale Of General Obligation Bonds, Series 1991 - 03_14_1991Resolution No. 3564
March 14, 1991
Item # 13
"A RESOLUTION by the City Council of the City of
Lubbock, Texas, relating to the issuance
and sale of $2,000,000 'CITY OF LUBBOCK,
TEXAS, GENERAL OBLIGATION BONDS, SERIES
1991'; $7!,500,000 'CITY OF LUBBOCK, TEXAS,
ELECTRIC LIGHT AND POWER SYSTEM REVENUE
BONDS, SERIES 1991'; $1,145,000 'CITY OF
LUBBOCK, TEXAS, COMBINATION TAX AND SOLID
WASTE DISPOSAL SYSTEM REVENUE CERTIFICATES
OF OBLIGATION, SERIES 1991'; $4,030,000
'CITY OF LUBBOCK, TEXAS, COMBINATION TAX
AND EXHIBITION HALL/AUDITORIUM (LIMITED
PLEDGE) REVENUE CERTIFICATES OF OBLIGATION,
SERIES 1991'; $16,120,000 'CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND WATERWORKS
SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1991';
and $1,085,000 'CITY OF LUBBOCK, TEXAS,
PUBLIC PROPERTY FINANCE CONTRACTUAL
OBLIGATIONS, TAXABLE SERIES 1991';
authorizing the publication of the Notices
of Sale pertaining to each issue of
obligations."
WHEREAS, Notices of Sale have been prepared in
connection with the issuance and sale of $2,000,000 "City of
Lubbock, Texas, General Obligation Bonds, Series 1991";
$7,500,000 "City of Lubbock, Texas, Electric Light and Power
System Revenue Bonds, Series 1991"; $1,145,000 "City of
Lubbock, Texas, Combination Tax and Solid Waste Disposal System
Revenue Certificates of Obligation, Series 1991"; $4,030,000
"City of Lubbock, Texas, Combination Tax and Exhibition
Hall/Auditorium (Limited Pledge) Revenue Certificates of
Obligation, Series 1991", $16,120,000 "City of Lubbock, Texas,
Combination Tax and Waterworks System Subordinate Lien Revenue
Certificates of Obligation, Series 1991"; and $1,085,000 "City
of Lubbock, Texas, Public Property Finance Contractual
Obligations, Taxable Series 1991," and submitted to the Council
and staff of the City for review and comments; and
WHEREAS, the Council finds and determines that the
aforesaid documents pertaining to the sale of each issue of
obligations should be approved and authorization should be
given to the City Secretary to proceed with the publication of
an advertisement for the sale of the obligations in accordance
with Article VIII, Section 5 of the City Charter of the City;
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK:
SECTION 1: That the Notice of Sale prepared in
connection with the issuance and sale of $2,000,000 "CITY OF
LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1991" is
hereby approved, such document being attached hereto as Exhibit
A and incorporated herein by reference and made a part of this
resolution for all purposes.
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SECTION 2: That the Notice of Sale prepared in
connection with the issuance and sale of $7,500,000 "CITY OF
LUBBOCK, TEXAS, ELECTRIC LIGHT AND POWER SYSTEM REVENUE BONDS,
SERIES 1991" is hereby approved, such document being attached
hereto as Exhibit B and incorporated herein by reference and
made a part of this resolution for all purposes.
SECTION 3: That the Notice of Sale prepared in
connection with the issuance and sale of $1,145,000 "CITY OF
LUBBOCK, TEXAS, COMBINATION TAX AND SOLID WASTE DISPOSAL SYSTEM
REVENUE CERTIFICATES OF OBLIGATION, SERIES 1991" is hereby
approved, such document being attached hereto as Exhibit C and
incorporated herein by reference and made a part of this
resolution for all purposes.
SECTION 4: That the Notice of Sale prepared in
connection with the issuance and sale of $4,030,000 "CITY OF
LUBBOCK, TEXAS, COMBINATION TAX AND EXHIBITION HALL/AUDITORIUM
(LIMITED PLEDGE) REVENUE CERTIFICATES OF OBLIGATION, SERIES
1991" is hereby approved, such document being attached hereto
as Exhibit D and incorporated herein by reference and made a
part of this resolution for all purposes.
SECTION 5: That the Notice of Sale prepared in
connection with the issuance and sale of $1,085,000 "CITY OF
LUBBOCK, TEXAS, PUBLIC PROPERTY FINANCE CONTRACTUAL
OBLIGATIONS, TAXABLE SERIES 1991" is hereby approved, such
document being attached hereto as Exhibit E and incorporated
herein by reference and made a part of this resolution for all
purposes.
SECTION 6: That the Notice of Sale prepared in
connection with the issuance and sale of $16,120,000 "CITY OF
LUBBOCK, TEXAS, COMBINATION TAX AND WATERWORKS SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1991 is hereby approved, such document being attached hereto
as Exhibit F and incorporated herein by reference and made a
part of this resolution for all purposes.
SECTION 7: First Southwest Company is further
authorized and directed to prepare for each issue of
obligations an "Official Statement" and an additional "Notice
of Sale," both of which are for distribution to prospective
bidders with respect to said obligations.
PASSED AND APPROVED, this the 14th day of March, 1991.
ATTEST:
City Secretary,
City of Lubbock, Texas
e e "Oey
Mayor, City of Lubbock, Texas
(City Seal)
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Exhibit A
NOTICE OF SALE
CITY OF LUBBOCK. TEXAS
The City Council of the City of Lubbock, Texas, will
receive sealed bids at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, until 1:30 P.M.,
Central Daylight Time, April 25, 1991, for the following
described bonds:
$2,000,000 City of Lubbock, Texas, General Obligation
Bonds, Series 1991
Dated May 15, 1991; principal due February 15 of
each year as follows: $100,000 each year 1992
through 2011; interest payable February 15, 1992
and each August 15 and February 15 thereafter.
The City reserves the right, at its option, to
redeem Bonds maturing on and after February 15,
2002 on February 15, 2001, or any date
thereafter, at the par value thereof plus
accrued interest to the date fixed for payment.
Further information may be obtained from the Division of
Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457;
or from First Southwest Company, 500 First City Center, 1700
Pacific Avenue, Dallas, Texas 75201, Financial Consultants to
the City.
Ci Secretary
Ci y of Lubbock, Texas
(City Seal)
5962E
Exhibit B
NOTICE OF SALE
CITY OF LUBBOCK, TEXAS
The City Council of the City of Lubbock, Texas, will
receive sealed bids at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, until 11:00 A.M.,
Central Daylight Time, April 25, 1991, for the following
described bonds:
$7,500,000 City of Lubbock, Texas, Electric Light and
Power System Revenue Bonds, Series 1991
Dated May 15, 1991; principal due April 15 of
each year as follows: $375,000 each year 1992
through 2011; interest payable October 15, 1991,
and each April 15 and October 15 thereafter.
The City reserves the right, at its option, to
redeem Bonds maturing on and after April 15,
2002, on April 15, 2001, or any date thereafter,
at the par value thereof plus accrued interest
to the date fixed for payment.
Further information may be obtained from the Division of
Finance, City of Lubbock, P.O. Bog 2000, Lubbock, Texas 79457;
or from First Southwest Company, 500 First City Center, 1700
Pacific Avenue, Dallas, Texas 75201, Financial Consultants to
the City.
Cit Secretary
City of Lubbock, Texas
(City Seal)
5 9 6 3 E
NOTICE OF SALE
CITY OF LUBBOCK, TEXAS
The City Council of the City of Lubbock, Texas, will
receive sealed bids at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, until 1:30 P.M.,
Central Daylight Time, April 25, 1991, for the following
described bonds:
$1,145,000 City of Lubbock, Texas, Combination
Tax and Solid Waste Disposal System
Revenue Certificates of Obligation
Series 1991
Dated May 15, 1991; principal due February 15 of
each year as follows: $115,000 each year 1992
through 2000; $110,000 in the year 2001;
interest payable February 15, 1992, and each
August 15 and February 15 thereafter. The
Certificates are not optional for prior payment.
Further information may be obtained from the Division of
Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457;
or from First Southwest Company, 500 First City Center, 1700
Pacific Avenue, Dallas, Texas 75201, Financial Consultants to
the City.
City Secretary
City of Lubbock, Texas
(City Seal)
S 9 6 S E
NOTICE OF SALE
CITY OF LUBBOCK, TEXAS
The City Council of the City of Lubbock, Texas, will
receive sealed bids at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, until 1:30 P.M.,
Central Daylight Time, April 25, 1991, for the following
described bonds:
$4,030,OOO City of Lubbock, Texas, Combination
Tax and Exhibition Hall/Auditorium
P
(Limited Pledge) Revenue Certificates of Obligation
Series 1991
Dated May 15, 1991; principal due February 15 of
each year as follows: $200,000 each year 1992
through 2005 and $205,000 in the years 2006
through 2011; interest payable February 15, 1992
and each August 15 and February 15 thereafter.
The City reserves the right, at its option, to
redeem Certificates maturing on and after
February 15, 2002, on February 15, 2001, or any
date thereafter, at the par value thereof plus
accrued interest to the date fixed for payment.
Further information may be obtained from the Division of
Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457;
or from First Southwest Company, 500 First City Center, 1700
Pacific Avenue, Dallas, Texas 75201, Financial Consultants to
the City. �~ �-
r �/1121
Ci Secretary
City of Lubbock, Texas
(City Seal)
5 9 6 4 E
Exhibit E
NOTICE OF SALE
CITY OF LUBBOCK, TEXAS
The City Council of the City of Lubbock, Texas, will
receive sealed bids at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, until 11:00 A.M.,
Central Daylight Time, April 25, 1991, for the following
described bonds:
$1,085,000 City of Lubbock, Texas, Public
Property Finance Contractual
Obligations, Taxable Series 1991
Dated May 15, 1991; principal due February 15 of each
year as follows: $275,000 in each of the years 1996,
2001 and 2006 and $260,000 in the year 2011; interest
payable February 15, 1992, and each August 15 and
February 15 thereafter. The Contractual Obligations
are subject to mandatory pre -payment prior to
maturity. The City reserves the right, at its
option, to pre -pay Contractual Obligations maturing
on and after February 15, 2006 on February 15, 2001,
or any date thereafter, at the par value thereof plus
accrued interest to the date fixed for payment.
Further information may be obtained from the Division of
Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457;
or from First Southwest Company, 500 First City Center, 1700
Pacific Avenue, Dallas, Texas 75201, Financial Consultants to
the City.
Cit Secretary
City of Lubbock, Texas
(City Seal)
5966E
Exhibit F
NOTICE OF SALE
CITY OF LUBBOCK, TEXAS
The City Council of the City of Lubbock, Texas, will receive sealed
bids at the City Council Chambers, Municipal Complex, 1625 13th Street,
Lubbock, Texas, until 1:30 P.M., Central Daylight Time, April 25, 1991,
for the following described bonds:
$16,120,000 City of Lubbock, Texas, Combination
Tax and Waterworks System
Subordinate Lien Revenue Certificates of Obligation
Series 1991
Dated May 15, 1991; principal due February 15 of
each year as follows: $805,000 each year 1992 through
2007 and $810,000 in each year 2008 through 2011;
interest payable February 15, 1992 and each August 15
and February 15 thereafter. The City reserves the right,
at its option, to redeem Certificates maturing on and
after February 15, 2002, on February 15, 2001, or any
date thereafter, at the par value thereof plus accrued
interest to the date fixed for payment.
Further information may be obtained from the Division of Finance,
City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457; or from First
Southwest Company, 500 First City Center, 1700 Pacific Avenue, Dallas,
Texas 75201, Financial Consultants to the City-
1 y Secretary U
City`of Lubbock, Texas
(City Seal)
71
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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. That on the 14th day of March, 1991, the City
Council of the City of Lubbock, Texas, convened in regular
session at its regular meeting place in the City Hall of said
City; the duly constituted members of the Council being as
follows:
B. C. MCMINN
T. J. PATTERSON
BILL MALOY
GARY D. PHILLIPS
JOAN BAKER
MAGGIE TREJO
M.J. ADERTON
MAYOR
MAYOR PRO TEM
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
all of said persons were present at said meeting, except the
following: M. J. Aderton Among other
business considered at said meeting, the attached resolution
entitled:
"A RESOLUTION by the City Council of the City of
Lubbock, Texas, relating to the issuance and
sale of $2,000,000 'CITY OF LUBBOCK, TEXAS,
GENERAL OBLIGATION BONDS, SERIES 1991';
$7,500,000 'CITY OF LUBBOCK, TEXAS, ELECTRIC
LIGHT AND POWER SYSTEM REVENUE BONDS, SERIES
1991'; $1,145,000 'CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND SOLID WASTE DISPOSAL SYSTEM
REVENUE CERTIFICATES OF OBLIGATION, SERIES
1991'; $4,030,000 'CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND EXHIBITION HALL/AUDITORIUM
(LIMITED PLEDGE) REVENUE CERTIFICATES OF
OBLIGATION, SERIES 1991'; $16,120,000 'CITY OF
LUBBOCK, TEXAS, COMBINATION TAX AND WATERWORKS
SYSTEM SUBORDINATE LIEN REVENUE CERTIFICATES OF
OBLIGATION, SERIES 1991'; and $1,085,000 'CITY
OF LUBBOCK, TEXAS, PUBLIC PROPERTY FINANCE
CONTRACTUAL OBLIGATIONS, TAXABLE SERIES 1991';
authorizing the publication of the Notices of
Sale pertaining to each issue of obligations."
S 9 4 7 E
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was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
resolution, and upon a motion made by Councilmember
Bill Maloy and seconded by Counci lmember T. J. Patterson
the resolution was finally passed and adopted by the Council by
the following vote:
6 voted "For" 0 voted "Against" 0 abstained
all as shown in the official Minutes of the Council for the
meeting held on the aforesaid date.
2. That 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 the 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 deliberation of the aforesaid public business, was
open to the public and written notice of said meeting,
including the subject of the entitled resolution, was posted
and given in advance thereof in compliance with the provisions
of Article 6252-17, Section 3A, V.A.T.C.S.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said City, this the 14th day
of March, 1991.
City Secretary
City of Lubbock, Texas
(City Seal)
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FULBRIGHT & JAWORSKI
2200 Ross AVENUE
SUITE 2800
HNG TON
WASHINGTON, D.C.
DALLAs,TExAs 75201
A TIN NT SAN O
ONIO
DALLAS
TELEPHONE:214/855-8000
NEW YORK
TELECOPIER: 214/855-8200
LOS ANGELES
March 8, 1991
LONDON
ZURICH
ZURICH
HONG KONG
VIA FEDERAL EXPRESS
Ms. Ranette Boyd
City Secretary
1625 13th Street
Lubbock, Texas 79457
RE: City of Lubbock, Texas
Dear Ranette:
Enclosed are the proceedings relating to the publication
of Notices of Sale for the five proposed financings which will
be considered by the City Council on March 14, 1991, to wit:
Mailed 1. Five copies of Certificate of City Secretary to
03/15/91 be completed and executed. Please £tarn £our' executed copies
to us and retain one copy for your files.
Mailed 2. Two copies of Resolution authorizing the
03/15/91 publication of the Notices of Sale to be executed. ,One copy is
to be retained for the City's records and ox�py i tQ ]
uW
*turped _tc5 us
3. One copy of each Notice of Sale to be signed and
furnished to the newspaper for publication.
4.
Puplication
published)
immediately
A clipping
is to be
for the
Twenty-five (25)
(being five copies
to be executed by
following the last
of the Notice as it
attached to each col
copies of Affidavit of
for each Notice that is to be
an official of the newspaper
publication date of the Notice.
actually appeared in the paper
y (5) of the Affidavit.
tt :for = eac=h Notx�ce ire to be;.
Fand one copy for each Notice should be seta
records.
Should you have any questions regarding the
described documents or their distribution, please advise.
Very truly yours,
—njc,_�
Mark S. iqestergard
MSW/ler
Enclosures
above
6 0 9 1 E
` Office of
-� City Secretary
City of Lubbock
P.O. Box 2000
Lubbock, Texas 7J457 .
606-767-2026
FAX: 606-762-3623
March 15, 1991
Mr. Mark S. Westergard
Fulbright & Jaworski
2200 Ross Avenue, Suite 2800
Dallas, Texas 75201
Dear Mark:
Enclosed are documents which were authorized by the City Council at the
March 14, 1991 Meeting, and which you have instructed us to be returned as
follows:
(1) Four executed copies of Certificate of City Secretary.
(2) One copy of Resolution Authorizing Publication of Notice of
Sale.
Re: The City of Lubbock Certificates of Obligation (Landfill).
(1) Four.copies of Certificate of City Secretary.
(2) One copy of Resolution Approving and Authorizing Publication
of Notice of Intention to Issue Certificates of Obligation.
Re: The City of Lubbock Certificates of Obligation (Civic Centers)
(1) Four copies of Certificates -of City Secretary.
(2) One copy of Resolution Authorizing Publication of Notice of
Intention to Issue Certificates of Obligation.
Re: The City of Lubbock Certificates of Obligation (Waterworks System)
(1) Four copies of Certificates of City Secretary.
(2); One copy of Resolution Approving and Authorizing Publication
of Notice.of Intention to Issue Certificates of Obligation.
Re: The City of Lubbock Revenue Bonds (Electric Light and Power System)
(1) four copies of Certificates of City Secretary.
(2) One copy of Resolution Approving and Authorizing Publication
of Notice of Intention to Issue Revenue Bonds.
Mr. Mark S. Westergard
Page 2
March 15, 1991
We are currently preparing the Notices for publication and will take those
to the Lubbock Avalanche Journal by the 20th of March. After final
publication we will send the Affidavits of Publication which you have
requested. If you have problems with anything that we have done or if we
have failed to do something, please do not hesitate to call or write.
Sincerely,
ones _0
Rane to Boyd
City Secretary
RB:bmr
Enclosures