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HomeMy WebLinkAboutResolution - 4881 - Issuence Of Brazos River Authority Special Facilities LAH Reneue Refunding Bonds - 06_22_19954gel RESOLUTION REQUESTING AND CONSENTING TO THE ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES (LAKE ALAN HENRY) REVENUE REFUNDING BONDS, SERIES 1995 WHEREAS, the Brazos River Authority (the "Authority") is seeking the consent of the City of Lubbock, Texas (the "City'), under the terms of that certain Water Supply Agreement by and between the City and the Authority (the "Contract'), relating to Lake Alan Henry (the "System"), to issue refunding bonds (the "Bonds"), to refund the outstanding bonds of the Authority's Special Facilities (Lake Alan Henry) Revenue Bonds, Series 1989 and 1991 (the "Refunded Bonds"), in the aggregate principal amount of $58,170,000, pursuant to the Contract; and WHEREAS, the Bonds will be issued in an amount sufficient to (i) provide for the costs of refunding the Refunded Bonds and (ii) pay the costs of issuance of the Bonds; and WHEREAS, the governing body of the City deems it to be appropriate and in the best interests of the City to give its consent to the issuance of such Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS: Section 1: That the recitals set forth in the preamble hereof and incorporated herein and shall have the same force and effect as if set forth in this Section, Section 2: That the City Council of the City hereby requests the Authority to issue and gives it consent to the issuance of the Bonds, and the sale thereof by negotiated sale to the underwriters designated in the Bond Purchase Agreement, dated June 6, 1995, between the Authority and said underwriters, rather than competitive sale, pursuant to the provisions of the contract. Section 3: That the City Manager, an Assistant City Manager or the Director of Finance are hereby authorized and directed to execute a certificate on behalf of the City to the effect that there has not been any material adverse change in the financial condition of the City, other than as described in the Official Statement, since September 30, 1994, the latest date as of which audited financial information of the City is available. Section 4: That a certified copy of this resolution shall immediately be delivered to the Authority following the adoption thereof. 02two Z00z I?IS2IOAidf '9 ZH9I2IgI113 60Z8 SS8 rTZ Xv3 Tr=ST lua S6/ST/90 THE STATE OF TEXAS COUNTY OF LUBBOCK CITY OF LUBBOCK We, the undersigned officers of said City, hereby certify as follows: 1. The City Council of said City convened in REGULAR MEETING ON THE 22ND DAY OF JUNE, 1995, at the designated meeting place, and the roll was called of the duly constituted officers and members of said City Council, to wit: David R. Langston, Mayor Randy Neugebauer, Mayor Pro Tem Victor Hernandez T. J. Patterson Windy Sitton Max Ince Alex "Ty" Cooke and all of said persons were present, except the following absentees: thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written RESOLUTION REQUESTING AND CONSENTING TO THE ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES (LAKE ALAN HENRY) REVENUE REFUNDING BONDS, SERIES 1995 was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Resolution be passed; and, after due discussion, said motion carrying with it the passage of said Resolution, prevailed and carried by the following vote: AYES: All members of the City Council shown present above voted "Aye" except NOES: ABSTENTIONS: 2. That a true, full and correct copy of the aforesaid Resolution passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting was open to the public and public notice of the time, place and purpose of said meeting was given, all as required by Texas Government Code, Chapter 551, as amended. 3. That the Mayor of said City has approved and hereby approves the aforesaid Resolution; that the Mayor and the City Sygretary of said City have duly signed said ResolA'16n; and that the -Mayor and the City Secretary of said City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. SIGNED AND SEALED the 4 nd day o 1 City Secr ary Ma ( SEAL) RESOLUTION REQUESTING AND CONSENTING TO THE ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES (LAKE ALAN HENRY) REVENUE REFUNDING BONDS, SERIES 1995 WHEREAS, the Brazos River Authority (the "Authority") is seeking the consent of the City under the terms of that certain Water Supply Agreement by and between the City of Lubbock, Texas (the "City") and the Authority (the "Contract"), relating to Lake Alan Henry (the "System"), to issue refunding bonds (the "Bonds"), to refund the outstanding bonds of the Authority's Special Facilities (Lake Alan Henry) Revenue Bonds, Series 1989 and 1991 (the "Refunded Bonds"), in the aggregate principal amount of $58,170,000, pursuant to the Contract; and WHEREAS, the Bonds will be issued in an amount sufficient to (i) provide for the costs of refunding the Refunded Bonds and (ii) pay the costs of issuance of the Bonds; and WHEREAS, the governing body of the City deems it to be appropriate and in the best interests of the City to give its consent to the issuance of such Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS: Section 1. That the recitals set forth in the preamble hereof are incorporated herein and shall have the same force and effect as if set forth in this Section. Section 2. That the City Council of the City hereby requests the Authority to issue and gives its consent to the issuance of the bonds, and the sale thereof by negotiated sale rather than competitive sale, pursuant to the provisions of the Contract. Section 3. That a certified copy of this resolution shall immediately be delivered to the Authority following the adoption hereof.