HomeMy WebLinkAboutOrdinance - 9613-1993 - Combination Tax And Sewer System Lien Revenue Certificates - 04/22/1993ORDINANCE NO. 96l3 -----
First Reading
April 22, 1993
Item #29
Second Reading
May 13, 1993
Item #19
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the City's Sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to the issuance, sale,
security, payment and delivery of said
Certificates; and providing an effective date.
WHEREAS, notice of the city council's intention to issue
certificates of obligation in the maximum principal amount of
$14, 4 so, 000 for the purpose of paying contractual obligations to be
incurred for (i) the construction of improvements and extensions to
the City's Wastewater Treatment System, to wit: discharge pipeline
to North Fork Double Mountain Fork Brazos River, renovate and
upgrade two existing treatment plants, and convert existing
administration building to a laboratory, and (ii) professional
services rendered in connection therewith, has been duly published
in the Lubbock Avalanche-Journal, a newspaper hereby found and
determined to be of general circulation in the City of Lubbock,
Texas, on March 28, 1993 and April 4, 1993, the date of the first
publication of such notice being not less than fifteen (15) days
prior to the tentative date stated therein for the passage of the
ordinance authorizing the issuance of such certificates; and
WHEREAS, no petition, protesting the issuance of such
certificates and bearing valid petition signatures of at least 5%
of the qualified voters of the City, has been filed with the city
Secretary, any member of the Council or any other official of the
City on or prior to the date of the passage of this ordinance; and
WHEREAS, the Council hereby finds and determines that
$14,425,000 of the certificates of obligation described in such
notice should be issued and sold at this time; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1: Authorization-Designation-Principal Amount-
Purpose. Certificates of obligation of the City shall be and are
hereby authorized to be issued in the aggregate principal amount of
$14,425,000 to be designated and bear the title "CITY OF LUBBOCK,
TEXAS, COMBINATION TAX ANO SEWER SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1993" (the "Certificates"), for
the purpose of paying contractual obligations to be incurred for
(i) the construction of improvements and extensions to the City's
Wastewater Treatment System, to wit: discharge pipeline to North
Fork Double Mountain Fork Brazos River, renovate and upgrade two
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existing treatment plants, and convert existing administration
building to a laboratory, and (ii) professional services rendered
in connection therewith, pursuant to authority conferred by and in
conformity with the Constitution and laws of the State of Texas,
including V.T.C.A., Local Government Code, subchapter c of Chapter
271.
SECTION 2: Fully Registered Obligations -Authorized
Denominations-stated Maturities-Date. The Certificates are
issuable in fully registered form only; shall be dated May 1, 1993
(the "Certificate Date") and shall be in denominations of $5,000
or any integral multiple thereof and the Certificates shall become
due and payable on February 15 in each of the years and in
principal amounts (the "Stated Maturities") and bear interest at
the per annum rate(s) in accordance with the following schedule:
Year of Principal Interest
Stated Maturity Amount Rate
1996 $ 720,000 2.65%
1997 720,000 3.00%
1998 720,000 3.20%
1999 720,000 3.40%
2000 725,000 3.55%
2001 725,000 3.70%
2002 725,000 3.85%
2003 725,000 3.95%
2004 725,000 4.05%
2005 725,000 4.15%
2006 725,000 4.20%
2007 725,000 4.25%
2008 725,000 4.30%
2009 725,000 4.35%
2010 725,000 4.40%
2011 725,000 4.45%
2012 670,000 4.50%
2013 725,000 4.50%
2014 725,000 4.50%
2015 725,000 4.50%
The Certificates shall bear interest on the unpaid principal
amount thereof from the date of delivery to the initial purchasers
thereof (which date shall be the registration date noted on the
Initial Certificates in the "Registration Certificate of Paying
Agent/Registrar" to appear thereon) at the per annum rate shown
above in this Section, and such interest shall be calculated on
the basis of a 360-day year of twelve 30-day months. Interest on
the Certificates shall be payable on February 15 and August 15 in
each year, commencing February 15, 1994.
SECTION J:
principal of,
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Terms of Payment-Paying Agent/Registrar. The
premium, if any, and the interest on the
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Certificates, due and payable by reason of maturity or redemption
or otherwise, shall be payable only to the registered owners or
holders of the Certificates (hereinafter called the "Holders")
appearing on the registration and transfer books (the "Security
Register") maintained by the Paying Agent/Registrar and the
payment thereof shall be in any coin or currency of the United
states of America, which at the time of payment is legal tender
for the payment of public and private debts, and shall be without
exchange or collection charges to the Holders.
Interest on each Certificate issued and delivered to a Holder
shall accrue from the latest interest payment date that interest
on such Certificate (or its Predecessor Certificate) has been paid
that precedes the registration date appearing on such Certificate
in the ''Registration Certificate of Paying Agent/Registrar"
( Section 8D hereof) , unless the registration date appearing
thereon is an interest payment date for which interest is being
paid, in which case interest on such Certificate shall accrue from
the registration date appearing thereon and provided further that
with respect to the initial payment of interest on a certificate,
such interest shall accrue from the date of delivery of the
Certificates (or its Predecessor Certificate) to the initial
purchasers thereof.
The selection and appointment of Ameritrust Texas National
Association to serve as Paying Agent/Registrar for the
Certificates is hereby approved and confirmed and the City agrees
and covenants to be kept and maintained at the principal office of
the Paying Agent/Registrar books and records for the registration,
payment and transfer of the certificates (the 0 security
Register"), all as provided herein, in accordance with the terms
and provisions of a "Paying Agent/Registrar Agreement"
substantially in the form attached hereto as Exhibit A and such
reasonable rules and regulations as the Paying Agent/Registrar and
City may prescribe; and the Mayor and City Secretary are
authorized to execute and deliver such Agreement in connection
with the delivery of the Certificates. The City covenants to
maintain and provide a Paying Agent/Registrar at all times until
the Certificates are paid and discharged, and any successor Paying
Agent/Registrar shall be a bank, trust company, financial
institution or other entity qualified and authorized to serve in
such capacity and perform the duties and services of Paying
Agent/Registrar. Upon any change in the Paying Agent/Registrar
for the Certificates, the City agrees to promptly cause a written
notice thereof to be sent to each Holder by United States Mail,
first class postage prepaid, which notice shall also give the
address of the new Paying Agent/Registrar.
Principal of and premium, if any, on the Certificates shall be
payable at the Stated Maturities or the redemption thereof only
upon presentation and surrender of the Certificates to the Paying
Agent/Registrar at its principal office in Austin, Texas (the
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"Designated Payment/Transfer Office" of the Paying Agent/
Registrar). Interest on the certificates shall be paid by the
Paying Agent/Registrar to the Holders whose name appears in the
Security Register at the close of business on the Record Date (the
last business day of the month next preceding each interest
payment date) and payment of such interest shall be (i) by check
sent United states Mail, first class postage prepaid, to the
address of the Holder recorded in the Security Register or (ii) by
such other method, acceptable to the Paying Agent/Registrar,
requested by, and at the risk and expense of, the Holder. If the
date for the payment of the principal of or interest on the
Certificates shall be a Saturday, Sunday, a legal holiday, or a
day when banking institutions in the city where the Paying
Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next
succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close;
and payment on such date shall have the same force and effect as
if made on the original date payment was due.
In the event of a nonpayment of interest on a scheduled
payment date, and for thirty (30) days thereafter, a new record
date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for
the payment of such interest have been received from the City.
Notice of the Special Record Date and of the scheduled payment
date of the past due interest (which shall be 15 days after the
Special Record Date) shall be sent at least five (5) business days
prior to the Special Record Date by United States Mail, first
class postage prepaid, to the address of each Holder appearing on
the Security Register at the close of business on the last
business next preceding the date of mailing of such notice.
SECTION 4: Redemption. (a) optional Redemption. The
certificates having Stated Maturities on and after February 15,
2006, shall be subject to redemption prior to maturity, at the
option of the City, in whole or in part, and, if in part, in
inverse annual maturity, in principal amounts of $5,000 or any
integral multiple thereof (and if within a Stated Maturity by lot
by the Paying Agent/Registrar), on February 15, 2005, or on any
date thereafter at the redemption price of par plus accrued
interest to the date of redemption.
(b) Exercise of Redemption Option. At least forty-five (45)
days prior to a redemption date for the Certificates (unless a
shorter notification period shall be satisfactory to the Paying
Agent/Registrar) , the city shall notify the Paying Agent/Registrar
of the decision to redeem Certificates, the principal amount of
each Stated Maturity to be redeemed, and the date of redemption
therefor. The decision of the city to exercise the right to
redeem Certificates shall be entered in the minutes of the
governing body of the City.
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(c) Selection of Certificates for Redemption. If less than
all Outstanding Certificates of the same Stated Maturity are to be
redeemed on a redemption date, the Paying Agent/Registrar shall
treat such Certificates as representing the number of Certificates
Outstanding which is obtained by dividing the principal amount of
such Certificates by $5,000 and shall select the Certificates, or
principal amount thereof, to be redeemed within such Stated
Maturity by lot.
(d) Notice of Redemption. Not less than thirty (30) days
prior to a redemption date for the Certificates, a notice of
redemption shall be sent by United states Mail, first class
postage prepaid, in the name of the City and at the city's
expense, to each Holder of a Certificate to be redeemed in whole
or in part at the address of the Holder appearing on the Security
Register at the close of business on the business day next
preceding the date of mailing such notice, and any notice of
redemption so mailed shall be conclusively presumed to have been
duly given irrespective of whether received by the Holder.
All notices of redemption shall (i) specify the date of
redemption for the Certificates, (ii) identify the Certificates to
be redeemed and, in the case of a portion of the principal amount
to be redeemed, the principal amount thereof to be
redeemed, (iii) state the redemption price, (iv) state that the
Certificates, or the portion of the principal amount thereof to be
redeemed, shall become due and payable on the redemption date
specified, and the interest thereon, or on the portion of the
principal amount thereof to be redeemed, shall cease to accrue
from and after the redemption date, and (v) specify that payment
of the redemption price for the Certificates, or the principal
amount thereof to be redeemed, shall be made at the Designated
Payment/Transfer Office of the Paying Agent/Registrar only upon
presentation and surrender thereof by the Holder. If a
Certificate is subject by its terms to prior redemption and has
been called for redemption and notice of redemption thereof has
been duly given as hereinabove provided, such certificate (or the
principal amount thereof to be redeemed) shall become due and
payable and interest thereon shall cease to accrue from and after
the redemption date therefor; provided moneys sufficient for the
payment of such certificate (or of the principal amount thereof to
be redeemed) at the then applicable redemption price are held for
the purpose of such payment by the Paying Agent/Registrar.
SECTION 5: Registration Transfer -Exchange of
certificates-Predecessor Certificates, A Security Register
relating to the registration, payment, and transfer or exchange of
the Certificates shall at all times be kept and maintained by the
City at the Designated Payment/Transfer Office of the Paying
Agent/Registrar, as provided herein and in accordance with the
provisions of an agreement with the Paying Agent/Registrar and
such rules and regulations as the Paying Agent/Registrar and the
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City may prescribe. The Paying Agent/Registrar shall obtain,
record, and maintain in the Security Register the name and address
of each and every owner of the Certificates issued under and
pursuant to the provisions of this Ordinance, or if appropriate,
the nominee thereof. Any Certificate may be transferred or
exchanged for Certificates of other authorized denominations by
the Holder, in person or by his duly authorized agent, upon
surrender of such Certificate to the Paying Agent/Registrar for
cancellation, accompanied by a written instrument of transfer or
request for exchange duly executed by the Holder or by his duly
authorized agent, in form satisfactory to the Paying
Agent/Registrar.
Upon surrender of any Certificate for transfer at the
Designated Payment/Transfer Office of the Paying Agent/Registrar,
the Paying Agent/Registrar shall register and deliver, in the name
of the designated transferee or transferees, one or more new
Certificates of authorized denominations and having the same
stated Maturity and of a like aggregate principal amount as the
Certificate or certificates surrendered for transfer.
At the option of the Holder, Certificates may be exchanged for
other Certificates of authorized denominations and having the same
Stated Maturity, bearing the same rate of interest and of like
aggregate principal amount as the Certificates surrendered for
exchange, upon surrender of the Certificates to be exchanged at
the Designated Payment/Transfer Office of the Paying
Agent/Registrar. Whenever any Certificates are surrendered for
exchange, the Paying Agent/Registrar shall register and deliver
new Certificates to the Holder requesting the exchange.
All Certificates issued in any transfer or exchange of
Certificates shall be delivered to the Holders at the Designated
Payment/Transfer Office of the Paying Agent/Registrar or sent by
United States Mail, first class, postage prepaid to the Holders,
and, upon the registration and delivery thereof, the same shall be
the valid obligations of the City, evidencing the same obligation
to pay, and entitled to the same benefits under this Ordinance, as
the Certificates surrendered in such transfer or exchange.
All transfers or exchanges of Certificates pursuant to this
Section shall be made without expense or service charge to the
Holder, except as otherwise herein provided, and except that the
Paying Agent/Registrar shall require payment by the Holder
requesting such transfer or exchange of any tax or other
governmental charges required to be paid with respect to such
transfer or exchange.
Certificates cancelled by reason of an exchange or transfer
pursuant to the provisions hereof are hereby defined to be
"Predecessor Certificates," evidencing all or a portion, as the
case may be, of the same obligation to pay evidenced by the new
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Certificate or Certificates registered and delivered in the
exchange or transfer the ref or. Additionally, the term
"Predecessor Certificates" shall include any mutilated, lost,
destroyed, or stolen Certificate for which a replacement
Certificate has been issued, registered and delivered in lieu
thereof pursuant to the provisions of Section 28 hereof and such
new replacement Certificate shall be deemed to evidence the same
obligation as the mutilated, lost, destroyed, or stolen
Certificate.
Neither the City nor the Paying Agent/Registrar shall be
required to issue or transfer to an assignee of a Holder any
Certificate called for redemption, in whole or in part, within 45
days of the date fixed for the redemption of such Certificate;
provided, however, such limitation on transferability shall not be
applicable to an exchange by the Holder of the unredeemed balance
of a Certificate called for redemption in part.
SECTION 6: Execution -Registration. The Certificates
shall be executed on behalf of the City by the Mayor under its
seal reproduced or impressed thereon and countersigned by the city
Secretary. The signature of said officers on the Certificates may
be manual or facsimile. Certificates bearing the manual or
facsimile signatures of individuals who are or were the proper
officers of the City on the Certificate Date shall be deemed to be
duly executed on behalf of the City, notwithstanding that one or
more of the individuals executing the same shall cease to be such
officer at the time of delivery of the certificates to the initial
purchaser(s) and with respect to Certificates delivered in
subsequent exchanges and transfers, all as authorized and provided
in the Bond Procedures Act of 1981, as amended.
No Certificate shall be entitled to any right or benefit under
this Ordinance, or be valid or obligatory for any purpose, unless
there appears on such Certificate either a certificate of
registration substantially in the form provided in section sc,
manually executed by the Comptroller of Public Accounts of the
state of Texas, or his duly authorized agent, or a certificate of
registration substantially in the form provided in Section 8D,
manually executed by an authorized officer, employee or
representative of the Paying Agent/Registrar, and either such
certificate duly signed upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly certified, registered and delivered.
SECTION 7: Initial Certificates. The Certificates herein
authorized shall be initially issued as a single fully registered
certificate in the total principal amount of $14,480,000 with
principal installments to become due and payable as provided in
Section 2 hereof and numbered T-1. The Initial Certificate shall
be the Certificate submitted to the Office of the Attorney General
of the state of Texas for approval, certified and registered by
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the Office of the Comptroller of Public Accounts of the state of
Texas and delivered to the initial purchaser(s). Any time after
the delivery of the Initial Certificate, the Paying
Agent/Registrar, pursuant to written instructions from the initial
purchaser(s), or the designee thereof, shall cancel the Initial
Certificate delivered hereunder and exchange therefor definitive
Certificates of authorized denominations, Stated Maturities,
principal amounts and bearing applicable interest rates for
transfer and delivery to the Holders named at the addresses
identified therefor1 all pursuant to and in accordance with such
written instructions from the initial purchaser(s), or the
designee thereof, and such other information and documentation as
the Paying Agent/Registrar may reasonably require.
SECTION s: Forms. A. Forms Generally. The Certificates,
the Registration Certificate of the Comptroller of Public Accounts
of the State of Texas, the Registration certificate of Paying
Agent/Registrar, and the form of Assignment to be printed on each
of the certificates, shall be substantially in the forms set forth
in this Section with such appropriate insertions, omissions,
substitutions, and other variations as are permitted or required
by this Ordinance and may have such letters, numbers, or other
marks of identification (including identifying numbers and letters
of the Committee on Uniform Securities Identification Procedures
of the American Bankers Association) and such legends and
endorsements (including insurance legends in the event the
Certificates, or any maturities thereof, are purchased with
insurance and any reproduction of an opinion of counsel) thereon
as may, consistently herewith, be established by the City or
determined by the officers executing such Certificates as
evidenced by their execution. Any portion of the text of any
Certificates may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the Certificate.
The definitive Certificates shall be printed, lithographed, or
engraved or produced in any other similar manner, all as
determined by the officers executing such Certificates as
evidenced by their execution, but the Initial Certificate(s)
submitted to the Attorney General of Texas may be typewritten or
photocopied or otherwise reproduced.
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B. Form of certificates.
REGISTERED
NO.
Certificate
Date:
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE
CERTIFICATE OF OBLIGATION
SERIES 1993
Interest Rate: Stated Maturity:
Registered Owner:
Principal Amount:
REGISTERED $ ____ _
CUSIP NO:
DOLLARS
The City of Lubbock (hereinafter referred to as the "City"),
a body corporate and municipal corporation in the County of
Lubbock, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered OWner
named above, or the registered assigns thereof, the Principal
Amount stated above, on the stated Maturity date specified above
(or so much thereof as shall not have been paid upon prior
redemption) and to pay interest on the unpaid Principal Amount
hereof (computed on the basis of a 360-day year of twelve JO-day
months) from the interest payment date next preceding the
"Registration Date" of this Certificate appearing below (unless
this Certificate bears a "Registration Date" as of an interest
payment date, in which case interest shall accrue from such date,
or unless the Registration Date of this Certificate is the
delivery date of this Certificate (or its Predecessor Certificate)
to the initial purchasers, in which case interest shall accrue
from such date of delivery to the initial purchasers at the per
annum rate of interest specified above; such interest being
payable on February 15 and August 15 of each year, commencing
February 15, 1994. Principal of this Certificate is payable at
its Stated Maturity or redemption to the registered owner hereof,
upon presentation and surrender, at the Designated
Payment/Transfer Office of the Paying Agent/Registrar executing
the registration certificate appearing hereon, or its successor.
Interest is payable to the registered owner of this Certificate
(or one or more Predecessor Certificates, as defined in the
Ordinance hereinafter referenced) whose name appears on the
"Security Register" maintained by the Paying Agent/Registrar at
the close of business on the "Record Date", which is the last
business day of the month next preceding each interest payment
date and interest shall be paid by the Paying Agent/Registrar by
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check sent United States Mail, first class postage prepaid, to the
address of the registered owner recorded in the Security Register
on the Record Date or by such other method, acceptable to the
Paying Agent/Registrar, requested by, and at the risk and expense
of, the registered owner. If the date for the payment of the
principal of or interest on the Certificates shall be a Saturday,
Sunday, a legal holiday, or a day when banking institutions in the
city where the Paying Agent/Registrar is located are authorized by
law or executive order to close, then the date for such payment
shall be the next succeeding day which is not such a Saturday,
Sunday, legal holiday, or day when banking institutions are
authorized to close; and payment on such date shall have the same
force and effect as if made on the original date payment was due.
All payments of principal of, premium, if any, and interest on
this Certificate shall be without exchange or collection charges
to the owner hereof and in any coin or currency of the United
States of America which at the time of payment is legal tender for
the payment of public and private debts.
This Certificate is one of the series specified in its title
issued in the aggregate principal amount of $14,425,000 (herein
referred to as the "Certificates") for the purpose of paying
contractual obligations to be incurred for ( i) the construction of
improvements and extensions to the city's Wastewater Treatment
System, to wit: discharge pipeline to North Forth Double Mountain
Fork Brazos River, renovate and upgrade two existing treatment
plants, and convert existing administration building to a
laboratory, and (ii) professional services rendered in connection
therewith, under and in strict conformity with the Constitution
and laws of the State of Texas, particularly V.T.C.A., Local
Government Code, Subchapter c of Chapter 271, and pursuant to an
Ordinance adopted by the governing body of the City (herein
referred to as the "Ordinance").
The Certificates maturing on and after February 15, 2006, may
be redeemed prior to their Stated Maturities, at the option of the
City, in whole or in part, and, if in part, in inverse annual
maturity, in principal amounts of $5,000 or any integral multiple
thereof (and if within a Stated Maturity by lot by the Paying
Agent/Registrar), on February 15, 2005, or on any date thereafter,
at the redemption price of par, together with accrued interest to
the date of redemption and upon 30 days prior written notice being
sent by United States Mail, first class postage prepaid, to the
registered owners of the Certificates to be redeemed, and subject
to the terms and provisions relating thereto contained in the
Ordinance. If this Certificate (or any portion of the principal
sum hereof) shall have been duly called for redemption and notice
of such redemption duly given, then upon such redemption date this
certificate (or the portion of the principal sum hereof to be
redeemed) shall become due and payable, and interest thereon shall
cease to accrue from and after the redemption date therefor,
provided moneys for the payment of the redemption price and the
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interest on the principal amount to be redeemed to the date of
redemption are held for the purpose of such payment by the Paying
Agent/Registrar.
In the event of a partial redemption of the principal amount
of this Certificate, payment of the redemption price of such
principal amount shall be made to the registered owner only upon
presentation and surrender of this Certificate to the Paying
Agent/Registrar at the Designated Payment/Transfer Office and
there shall be issued, without charge therefor to the registered
owner hereof, a new Certificate or Certificates of like maturity
and interest rate in any authorized denominations provided by the
Ordinance for the then unredeemed balance of the principal sum
hereof. If this Certificate is selected for redemption, in whole
or in part, the City and the Paying Agent/Registrar shall not be
required to transfer this Certificate to an assignee of the
registered owner within 45 days of the redemption date therefor;
provided, however, such limitation on transferability shall not be
applicable to an exchange by the registered owner of the
unredeemed balance hereof in the event of its redemption in part.
The Certificates are payable from the proceeds of an ad
valorem tax levied, within the limitations prescribed by law, upon
all taxable property in the City and, together with the Previously
Issued Obligations (as defined in the Ordinance), are additionally
payable from and secured by a lien on and pledge of the Net
Revenues (as defined in the Ordinance) of the City's Sewer System
(the "System"), such lien and pledge, however, being junior and
subordinate to the lien on and pledge of the Net Revenues of the
System securing the payment of "Prior Lien Obligations" (as
defined in the Ordinance) hereafter issued by the City. In the
Ordinance, the city reserves and retains the right to issue Prior
Lien Obligations while the Certificates are outstanding without
limitation as to principal amount but subject to any terms,
conditions or restrictions as may be applicable thereto under law
or otherwise, as well as the right to issue Additional Obligations
(as defined in the Ordinance).
Reference is hereby made to the Ordinance, a copy of which is
on file in the Designated Payment/Transfer Office of the Paying
Agent/Registrar, and to all the provisions of which the Holder
hereof by the acceptance hereof hereby assents, for definitions of
terms; the description of and the nature and extent of the tax
levied for the payment of the certificates; the properties
constituting the System; the Net Revenues pledged to the payment
of the principal of and interest on the Certificates; the nature
and extent and manner of enforcement of the pledge; the terms and
conditions relating to the transfer of this certificate; the
conditions upon which the Ordinance may be amended or supplemented
with or without the consent of the Holders of the Certificates;
the rights, duties, and obligations of the City and the Paying
Agent/Registrar; the terms and provisions upon which the tax levy
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and the liens, pledges, charges and covenants made therein may be
discharged at or prior to the maturity of this Certificate, and
this Certificate deemed to be no longer Outstanding thereunder;
and for the other terms and provisions contained therein.
Capitalized terms used herein have the meanings assigned in the
Ordinance.
This Certificate, subject to certain limitations contained in
the Ordinance, may be transferred on the Security Register only
upon its presentation and surrender at the Designated
Payment/Transfer Office of the Paying Agent/Registrar, with the
Assignment hereon duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Paying
Agent/Registrar duly executed by, the registered owner hereof, or
his duly authorized agent. When a transfer on the Security
Register occurs, one or more fully registered Certificates of
authorized denominations and of the same aggregate principal
amount will be issued by the Paying Agent/Registrar to the
designated transferee or transferees.
The City and the Paying Agent/Registrar, and any agent of
either, may treat the registered owner hereof whose name appears
on the Security Register (i) on the Record Date as the owner
entitled to payment of interest hereon, (ii) on the date of
surrender of this Certificate as the owner entitled to payment of
principal hereof at its Stated Maturity or its redemption, in
whole or in part, and (iii) on any other date as the owner for all
other purposes, and neither the City nor the Paying
Agent/Registrar, or any agent of either, shall be affected by
notice to the contrary. In the event of nonpayment of interest
on a scheduled payment date and for thirty (30) days thereafter,
a new record date for such interest payment (a "Special Record
Date") will be established by the Paying Agent/Registrar, if and
when funds for the payment of such interest have been received
from the City. Notice of the Special Record Date and of the
scheduled payment date of the past due interest (which shall be 15
days after the Special Record Date) shall be sent at least five
(5) business days prior to the Special Record Date by United
States Mail, first class postage prepaid, to the address of each
Holder appearing on the Security Register at the close of business
on the last business day next preceding the date of mailing of
such notice.
It is hereby certified, recited, represented and covenanted
that the City is a body corporate and political subdivision duly
organized and legally existing under and by virtue of the
Constitution and laws of the State of Texas; that the issuance of
the Certificates is duly authorized by law; that all acts,
conditions and things required to exist and be done precedent to
and in the issuance of the -Certificates to render the same lawful
and valid obligations of the City have been properly done, have
happened and have been performed in regular and due time, form and
76232 -12-
manner as required by the Constitution and laws of the State of
Texas, and the Ordinance; that the Certificates do not exceed any
constitutional or statutory limitation; and that due provision has
been made for the payment of the principal of and interest on the
Certificates by the levy of a tax and a pledge of the Net Revenues
of the System as aforestated. In case any provision in this
Certificate or any application thereof shall be invalid, illegal,
or unenforceable, the validity, legality, and enforceability of
the remaining provisions and applications shall not in any way be
affected or impaired thereby. The terms and provisions of this
Certificate and the Ordinance shall be construed in accordance
with and shall be governed by the laws of the State of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused
this Certificate to be duly cuted under the official seal of
the City as of the Certif ate Da
·,(SEAL)
C.-··-* -Form of Registration Certificate of Comptroller of
Public Accounts to Appear on Initial Certificate(s) only.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER
OF PUBLIC ACCOUNTS
THE STATE OF TEXAS
§
§
§
§
REGISTER NO.
I HEREBY CERTIFY that this Certificate has been examined,
certified as to validity and approved by the Attorney General of
the State of Texas, and duly registered by the Comptroller of
Public Accounts of the State of Texas.
WITNESS my signature and seal of office this _______ •
(SEAL)
*NOTE TO PRINTER:
76232
Comptroller of Public Accounts
of the State of Texas
Do not print on definitive Certificates
-13-
D. Form of Certificate of Paying Agent/Registrar to Appear
on definitive certificates.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Certificate has been duly issued and registered under
the provisions of the within-mentioned Ordinance; the certificate
or certificates of the above entitled and designated series
originally delivered having been approved by the Attorney General
of the State of Texas and registered by the Comptroller of Public
Accounts, as shown by the records of the Paying Agent/Registrar.
The principal offices of the Paying Agent/Registrar in
Austin, Texas, is the "Designated Payment/Transfer Office" for
this Certificate.
AMER I TRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Registration Date:
By
Authorized Signature
E. Form of Assignment.
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns, and
transfers unto (Print or typewrite name, address, and zip code of
transferee: ) .................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Social Security or other identifying number: •••••••••••••••••• )
the within Certificate and all rights thereunder, and hereby
irrevocably constitutes and appoints •••••••••.••••••••••••••••••• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
attorney to transfer the within Certificate on the books kept for
registration thereof, with full power of substitution in the
premises.
DATED: • • • • • • • • • • • • • • • • • •
Signature guaranteed:
. . . . . . . . . . . . . . . . . . . . . . . . . .
76232
.....................................
NOTICE: The signature on this
assignment must correspond with the
name of the registered owner as it
appears on the face of the within
Certificate in every particular.
-14-
F. The Initial certificates shall be in the form set forth
in paragraph B of this section. except that the form of the
fully registered Initial certificates shall be modified
as follows:
(i) immediately under the name of the certificate the
beadings "Interest Rate -----------" and "Stated Maturity "shall both be omitted;
(ii) paragraph one shall read as follows:
Registered owner:
Principal Amount: Dollars
The City of Lubbock (hereinafter referred to as the "City"),
a body corporate and municipal corporation in the County of
Lubbock, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered owner
named above, or the registered assigns thereof, the Principal
Amount hereinabove stated, on February 15 in each of the years and
in principal installments in accordance with the following
schedule:
PRINCIPAL
INSTALLMENTS
(Information to be inserted from
Section 2 hereof).
INTEREST
RATE
(or so much principal thereof as shall not have been prepaid prior
to maturity) and to pay interest on the unpaid Principal Amount
hereof computed on the basis of a 360-day year of twelve 30-day
months at the per annum rates of interest specified above; such
interest to accrue on such principal installment amounts when and
as such amounts, or portions thereof, are advanced to the City by
the initial purchasers and to be payable on February 15 and
August 15 of each year, commencing February 15, 1994. Principal
installments of this Certificate are payable in the year of
maturity or on a prepayment date to the registered owner hereof,
upon its presentation and surrender at Ameritrust Texas National
Association (the "Paying Agent/Registrar") at its principal office
in Austin, Texas (the "Designated Payment/ Transfer Office" of the
Paying Agent/Registrar). Interest is payable to the registered
owner of this Certificate whose name appears on the "Security
Register" maintained by the Paying Agent/Registrar at the close of
business on the "Record Date", which is the last business day of
the month next preceding each interest payment date hereof and
interest shall be paid by the Paying Agent/Registrar by check sent
United States Mail, first class postage prepaid, to the address of
the registered owner recorded in the security Register or by such
76232 -15-
other method, acceptable to the Paying Agent/ Registrar, requested
by, and at the risk and expense of, the registered owner. If the
date for the payment of the principal of or interest on the
Certificates shall be a Saturday, Sunday, a legal holiday, or a
day when banking institutions in the city where the Paying
Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next
succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close;
and payment on such date shall have the same force and effect as
if made on the original date payment was due. All payments of
principal of, premium, if any, and interest on this Certificate
shall be without exchange or collection charges to the owner
hereof and in any coin or currency of the United states of America
which at the time of payment is legal tender for the payment of
public and private debts.
SECTION 9: Definitions. That for purposes of this
Ordinance and for clarity with respect to the issuance of the
Certificates, and the levy of taxes and appropriation of Net
Revenues therefor, the following words or terms, whenever the same
appear herein without qualifying language, are defined to mean as
follows:
76232
(a) The term "Additional Certificates" shall mean
combination tax and revenue certificates of obligation
hereafter issued under and pursuant to the provisions of
V.T.C.A., Local Government Code, Subchapter C of Chapter 271,
or similar law hereafter enacted and payable from ad valorem
taxes and additionally payable from and secured by a lien on
and pledge of the Net Revenues of the system on a parity with
and of equal rank and dignity with the lien and pledge
securing the payment of the Certificates.
(b) The term "Certificates" shall mean $14,425,000 "CITY
OF LUBBOCK, TEXAS, COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993 11 authorized by this Ordinance.
(c) The term "Certificate Fund" shall mean the special
Fund created and established under the provisions of
Section 10 of this Ordinance.
(d) The term "Collection Date" shall mean,
reference is being made to the levy and collection of
ad valorem taxes, the date annual ad valorem taxes
each year by the City become delinquent.
when
annual
levied
(e) The term "Fiscal Year" shall mean the annual
financial accounting period used with respect to the
operations of the system now ending on September 30th of each
year; provided, however, the City Council may change, by
-16-
76232
ordinance duly passed, such annual financial accounting
period to end on another date if such change is found and
determined to be necessary for budgetary or other fiscal
purposes.
(f) The term "Government Obligations" shall mean direct
obligations of the United States of America, including
obligations the principal of and interest on which are
unconditionally guaranteed by the United states of America,
and the United States Treasury obligations such as its State
and Local Government Series in book-entry form.
(g) The term "Gross Revenues" shall mean, with respect
to any period, all income, revenues and receipts received
from the operation and ownership of the System.
(h) The term "Net Revenues" shall mean the Gross
Revenues of the System, with respect to any period, after
deducting the System's Operating and Maintenance Expenses
during such period.
( i) The term "Operating and Maintenance Expenses" shall
mean all reasonable and necessary expenses directly related
and attributable to the operation and maintenance of the
System, including, but not limited to, the cost of insurance,
the purchase and carrying of stores, materials, and supplies,
the payment of salaries and labor, and other expenses
reasonably and properly charged, under generally accepted
accounting principles, to the operation and maintenance of
the System. Depreciation charges on equipment, machinery,
plants and other facilities comprising the System and
expenditures classed under generally accepted accounting
principles as capital expenditures shall not be considered as
"Operating and Maintenance Expenses" for purposes of
determining "Net Revenues".
(j) The term "Outstanding" when used in this Ordinance
with respect to Certificates means, as of the date of
determination, all Certificates theretofore issued and
delivered under this Ordinance, except:
(1) those Certificates cancelled by the
Paying Agent/Registrar or delivered to the
Paying Agent/Registrar for cancellation;
(2) those Certificates deemed to be duly
paid by the City in accordance with the
provisions of Section 23 hereof by the
irrevocable deposit with the Paying
Agent/Registrar, or an authorized escrow agent,
of money or Government Securities, or both, in
the amount necessary to fully pay the principal
-17-
of, premium, if any, and interest thereon to
maturity or redemption, as the case may be,
provided that, if such Certificates are to be
redeemed, notice of redemption thereof shall
have been duly given pursuant to this Ordinance
or irrevocably provided to be given to the
satisfaction of the Paying Agent/Registrar or
waived; and
(3) those Certificates that have been
mutilated, destroyed, lost, or stolen and
replacement Certificates have been registered
and delivered in lieu thereof as provided in
Section 27 hereof.
(k) The term "Previously Issued Obligations" shall mean
(i) the outstanding "City of Lubbock, Texas, Combination Tax
and Sewer System Subordinate Lien Revenue Refunding Bonds,
Series 1988," (ii) the outstanding "City of Lubbock, Texas,
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1988," (iii) the
outstanding "City of Lubbock, Texas, Combination Tax and
Sewer System Subordinate Lien Revenue Certificates of
Obligation, Series 1991," and (iv) the outstanding "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate
Lien Revenue Certificates of Obligation, Series 1992."
( 1) The term "Prior Lien Obligations" shall mean all
bonds or other similar obligations hereafter issued that are
payable in whole or in part from and secured by a lien on and
pledge of the Net Revenues of the System and such lien and
pledge securing the payment thereof is prior and superior in
claim, rank and dignity to the lien and pledge of the Net
Revenues securing the payment of the Certificates.
(m) The term "Similarly Secured Obligations" shall mean
collectively the Certificates, the Previously Issued
Obligations, and any Additional Certificates.
(n) The term "System" shall mean the City's sanitary
sewer system, being all sanitary sewage collection system,
ground storage facilities, effluent disposal and treatment
facilities and/or other works and equipment.
SECTION 10: Certificate Fund. That, for the purpose of
paying the interest on and to provide a sinking fund for the
payment and retirement of the Certificates, there shall be and is
hereby created a special FUnd to be designated "SPECIAL 1993 CITY
OF LUBBOCK, TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATE OF OBLIGATION FUND", which Fund shall be
kept and maintained at the City's depository bank, and moneys
deposited in said Fund shall be used for no other purpose. Proper
76232 -18-
officers of the City are hereby authorized and directed to cause
to be transferred to the Paying Agent for the Certificates, from
funds on deposit in the Certificate Fund, amounts sufficient to
fully pay and discharge promptly each installment of interest and
principal of the Certificates as the same accrues or matures or
comes due by reason of redemption prior to maturity; such
transfers of funds to be made in such manner as will cause
immediately available funds to be deposited with the Paying Agent
for the Certificates at the close of business on the last business
day next preceding each interest and/or principal payment date for
the Certificates.
Pending the transfer of funds to the Paying Agent/Registrar,
money in the Certificate Fund may, at the option of the City, be
invested in obligations identified in, and in accordance with the
provisions of the "Public Funds Investment Act of 1987" relating
to the investment of "bond proceeds"; provided that all such
investments shall be made in such a manner that the money required
to be expended from said Fund will be available at the proper time
or times. All interest and income derived from deposits and
investments in said Certificate Fund shall be credited to, and any
losses debited to, the said Certificate Fund. All such
investments shall be sold promptly when necessary to prevent any
default in connection with the Certificates.
SECTION 11: Tax Levy. That to provide for the payment of
the "Debt service Requirements" on the Certificates being (i) the
interest on said Certificates and (ii) a sinking fund for their
redemption at maturity or a sinking fund of 2% (whichever amount
shall be the greater), there shall be and there is hereby levied
for the current year and each succeeding year thereafter while
said Certificates or any interest thereon shall remain
Outstanding, a sufficient tax on each one hundred dollars'
valuation of taxable property in said City, adequate to pay such
Debt Service Requirements, full allowance being made for
delinquencies and costs of collection; said tax shall be assessed
and collected each year and applied to the payment of the Debt
Service Requirements, and the same shall not be diverted to any
other purpose. The taxes so levied and collected shall be
deposited into the Certificate Fund. This governing body hereby
declares its purpose and intent to provide and levy a tax legally
and fully sufficient to pay the said Debt Service Requirements, it
having been determined that the existing and available taxing
authority of the City for such purpose is adequate to permit a
legally sufficient tax in consideration of all other outstanding
indebtedness.
The amount of taxes to be provided annually for the payment
of the principal of and interest on the Certificates herein
authorized to be issued shall be determined and accomplished in
the following manner:
76232 -19-
(a) Prior to the date the City Council establishes the annual
tax rate and passes an ordinance levying ad valorem taxes each
year, the City Council shall determine:
(1) The amount on deposit in the
Certificate Fund after (a) deducting therefrom
the total amount of Debt Service Requirements
to become due on Certificates prior to the
Collection Date for the ad valorem taxes to be
levied and (b) adding thereto the amount of Net
Revenues of the System appropriated and
allocated to pay such Debt Service Requirements
prior to the Collection Date for the ad valorem
taxes to be levied.
( 2) The amount of Net Revenues · if any,
appropriated and to be set aside for the
payment of the Debt Service Requirements on the
Certificates between the Collection Date for
the taxes then to be levied and the Collection
Date for the taxes to be levied during the next
succeeding calendar year.
(3) The amount of Debt Service
Requirements to become due and payable on the
Certificates between the Collection Date for
the taxes then to be levied and the Collection
Date for the taxes to be levied during the next
succeeding calendar year.
(b) The amount of taxes to be levied annually each year to
pay the Debt Service Requirements on the Certificates shall be the
amount established in paragraph (3) above less the sum total of
the amounts established in paragraphs (l)and (2), after taking
into consideration delinquencies and costs of collecting such
annual taxes.
SECTION 12: Pledge of Revenues. The City hereby covenants
and agrees that, subject only to a prior lien on and pledge of the
Net Revenues of the System for the payment and security of Prior
Lien Obligations, the Net Revenues of the System, with the
exception of those in excess of the amounts required to be
deposited to the Certificate Fund as hereafter provided, are
hereby irrevocably pledged, equally and ratably, to the payment of
the principal of and interest on the Similarly Secured Obligations
as herein provided, and the pledge of the Net Revenues of the
System herein made for the payment of the Certificates shall
constitute a lien on the Net Revenues of the System in accordance
with the terms and provisions hereof and be valid and binding
without further action by the City and without any filing or
recording except for the filing of this Ordinance in the records
of the City.
76232 -20-
SECTION 13: System Fund. The City hereby reaffirms its
covenant and agreement made in connection with the issuance of the
Previously Issued Obligations that all Gross Revenues (excluding
earnings from the investment of money held in any special funds or
accounts created for the payment and security of Prior Lien
Obligations) shall be deposited from day to day as collected into
a "City of Lubbock, Texas, Sewer System Operating Fund"
(hereinafter called "System Fund") which Fund shall be kept and
maintained at an official depository bank of the City. All moneys
deposited in the System Fund shall be pledged and appropriated to
the extent required for the following purposes and in the order of
priority shown, to wit:
First: To the payment of all necessary and
reasonable Operating and Maintenance Expenses of the System
as defined herein or required by statute to be a first charge
on and claim against the Gross Revenues.
Second: To the payment of the amounts required to be
deposited in the special Funds created and established for
the payment, security and benefit of Prior Lien Obligations
in accordance with the terms and provisions of the ordinances
authorizing the issuance of Prior Lien Obligations; and
Third: Equally and ratably to the payment of the
amounts required to be deposited in the special funds and
accounts created and established for the payment of the
Similarly Secured Obligations.
Any Net Revenues remaining in the System Fund after
satisfying the foregoing payments, or making adequate and
sufficient provision for the payment thereof, may be appropriated
and used for any other City purpose now or hereafter permitted by
law.
SECTION 14: Deposits to certificate Fund. The city hereby
covenants and agrees to cause to be deposited in the Certificate
Fund prior to each interest and principal payment date from the
Net Revenues of the System, after deduction of all payments
required to be made to special Funds or accounts created for the
payment and security of the Prior Lien Obligations, an amount
equal to one hundred per centum (100%) of the amount required to
fully pay the accrued interest and principal of the Certificates
then due and payable by reason of maturity or redemption prior to
maturity, such deposits to pay accrued interest and principal on
the Certificates to be made in substantially equal monthly
installments on or before the last business day of each month
beginning the month the Certificates are delivered to the initial
purchaser.
The monthly deposits to the certificate Fund, as hereinabove
provided, shall be made until such time as such Fund contains an
76232 -21-
amount equal to pay the principal of and interest on the
Certificates to maturity. Ad valorem taxes levied, collected and
deposited in the Certificate Fund for and on behalf of the
Certificates may be taken into consideration and reduce the amount
of the monthly deposits otherwise required to be deposited in the
Certificate Fund from the Net Revenues of the System. In
addition, any proceeds of sale of the Certificates in excess of
the amount required to pay the contractual obligations to be
incurred ( including change orders to a construction contract)
shall be deposited in the Certificate Fund, which amount shall
reduce the sums otherwise required to be deposited in said Fund
from ad valorem taxes and the Net Revenues of the System.
SECTION 15: security of Funds. All moneys on deposit in
the Funds for which this Ordinance makes provision (except any
portion thereof as may be at any time properly invested) shall be
secured in the manner and to the fullest extent required by the
laws of Texas for the security of public funds, and moneys on
deposit in such Funds shall be used only for the purposes
permitted by this Ordinance. ·
SECTION 16: Maintenance of system -Insurance. While the
Certificates remain Outstanding, the City covenants and agrees to
maintain and operate the System with all possible efficiency and
to maintain casualty and other insurance on the properties of the
System and its operations of a kind and in such amounts
customarily carried by municipal corporations in the state of
Texas engaged in a similar type business; and that , it will
faithfully and punctually perform all duties with reference to the
System required by the Constitution and laws of the· State of
Texas. ·
SECTION 17: Rates and Charges. The City hereby covenants
and agrees that rates and charges for services provided by the
System will be established and maintained, on the basis of all
available information and experience and with due allowance for
contingencies, that are reasonably expected to provide Gross
Revenues to pay:
76232
(a) Operating and Maintenance Expenses of the System;
(b) the interest on and principal of Prior Lien
Obligations and the amounts required to be deposited into any
special Funds created and established for the payment and
security of the Prior Lien Obligations;
(c) the amounts required to be deposited in the special
Funds or Accounts created for the payment of the Similarly
Secured Obligations;
-22-
(d) any other legally incurred indebtedness payable from
the revenues of the System and/or secured by a lien on the
System or the revenues thereof.
SECTION 18: Records and Accounts -Annual Audit. The city
further covenants and agrees that while any Certificates remain
outstanding, it will keep and maintain accurate and complete
records and accounts pertaining to the ownership, operation and
maintenance of the System. The Holders of the Certificates or any
duly authorized agent or agents of such Holders shall have the
right to inspect the System and all properties comprising the
same. The City further agrees that following the close of each
Fiscal Year, it will cause an audit of such books and accounts to
be made by an independent firm of Certified Public Accountants.
Copies of each annual audit shall be furnished to the Executive
Director of the Municipal Advisory Council of Texas at his office
in Austin, Texas, the Texas Water Development Fund Manager at his
office in Austin, Texas, and to the initial purchaser of the
certificates and any subsequent Holder of 10% or more in principal
amount of the Certificates outstanding.
SECTION 19: Remedies in Event of Default. In addition to
all the rights and remedies provided by the laws of the State of
Texas, the City covenants and agrees particularly that in the
event the City (a) defaults in the payments to be made to the
certificate Fund, or (b) defaults in the observance or performance
of any other of the covenants, conditions or obligations set forth
in this Ordinance, the owner or owners of any of the Certificates
shall be entitled to a writ of mandamus issued by a court of
proper jurisdiction compelling and requiring the governing body of
the City and other officers of the City to observe and perform any
covenant, condition or obligation prescribed in this Ordinance.
No delay or omission to exercise any right or power accruing
upon any default shall impair any such right or power, or shall be
construed to be a waiver of any such default or acquiescence
therein, and every such right and power may be exercised from time
to time and as often as may be deemed expedient. The specific
remedies herein provided shall be cumulative of all other existing
remedies and the specification of such remedies shall not be
deemed to be exclusive.
SECTION 20: Special covenants.
covenants as follows:
The City hereby further
76232
(a) It has the lawful power to pledge the Net Revenues
of the System supporting this issue of certificates and has
lawfully exercised said powers under the Constitution and
laws of the State of Texas, including said power existing
under V.T.C.A., Local Governmental Code, Subchapter C of
Chapter 271.
-23-
(b) Other than for the payment of the Certificates and
the Previously Issued Obligations, the Net Revenues of the
System have not in any manner been pledged to the payment of
any debt or obligation of the City or of the System.
SECTION 21: Issuance of Prior Lien Obligations and
Additional certificates. The City hereby expressly reserves the
right to hereafter issue Prior Lien Obligations, without
limitation as to principal amount or any other limitation or
restriction.
In addition, the City reserves the right to issue Additional
certificates, without limitation or any restriction or condition
being applicable to their issuance under the terms of this
Ordinance, payable from and secured by a lien on and pledge of the
Net Revenues of the System of equal rank and dignity, and on a
parity in all respects, with the lien thereon and pledge thereof
securing the payment of the Certificates.
SECTION 22: subordinate to Prior Lien Obligations
covenants and Agreements. It is the intention of this governing
body and accordingly hereby recognized and stipulated that the
provisions, agreements and covenants contained herein bearing upon
the management and operations of the System and the administering
and application of revenues derived from the operation thereof,
shall to the extent possible be harmonized with like provisions,
agreements and covenants contained in ordinances authorizing the
issuance of Prior Lien Obligations, and to the extent of any
irreconcilable conflict between the provisions contained herein
and in ordinances authorizing the issuance of Prior Lien
Obligations, the provisions, agreements and covenants contained
therein shall prevail to the extent of such conflict and be
applicable to this Ordinance but in all respects subject to the
priority of rights and benefits, if any, conferred thereby to the
holders or owners of the Prior Lien Obligations. Notwithstanding
the above, any change or modification affecting the application of
revenues derived from the operation of the System shall not impair
the obligation of contract with respect to the pledge of revenues
herein made for the payment and security of the Certificates.
SECTION 23: Satisfaction of Obligations of City. If the
City shall pay or cause to be paid, or there shall otherwise be
paid to the Holders, the principal of, premium, if any, and
interest on the Certificates, at the times and in the manner
stipulated in this Ordinance, then the pledge of taxes levied and
the lien on and pledge of the Net Revenues of the System under
this Ordinance and all covenants, agreements, and other
obligations of the City to the Holders shall thereupon cease,
terminate, and be discharged and satisfied.
Certificates shall be deemed to have been paid within the
meaning and with the effect expressed above in this Section when
76232 -24-
(i) money sufficient to pay in full such Certificates or the
principal amount(s) thereof at maturity or (if notice of
redemption has been duly given or waived or if irrevocable
arrangements therefor acceptable to the Paying Agent/Registrar
have been made) the redemption date thereof, together with all
interest due thereon, shall have been irrevocably deposited with
and held in trust by the Paying Agent/Registrar, or an authorized
escrow agent, or (ii) Government Securities shall have been
irrevocably deposited in trust with the Paying Agent/Registrar, or
an authorized escrow agent, which Government Securities have been
certified by an independent accounting firm to mature as to
principal and interest in such amounts and at such times as will
insure the availability, without reinvestment, of sufficient
money, together with any moneys deposited therewith, if any, to
pay when due the principal of and interest on such Certificates,
or the principal amount(s) thereof, on and prior to the Stated
Maturity thereof or (if notice of redemption has been duly given
or waived or if irrevocable arrangements therefor acceptable to
the Paying Agent/Registrar have been made) the redemption date
thereof. The City covenants that no deposit of moneys or
Government Securities will be made under this Section and no use
made of any such deposit which would cause the Certificates to be
treated as "arbitrage bonds" within the meaning of Section 148 of
the Internal Revenue Code of 1986, as amended, or regulations
adopted pursuant thereto.
Any moneys so deposited with the Paying Agent/Registrar and
all income from Government Securities held in trust by the Paying
Agent/Registrar, or an authorized escrow agent, pursuant to this
Section which is not required for the payment of the Certificates,
or any principal amount(s) thereof, or interest thereon with
respect to which such moneys have been so deposited shall be
remitted to the City or deposited as directed by the City.
Furthermore, any money held by the Paying Agent/Registrar for the
payment of the principal of and interest on the Certificates and
remaining unclaimed for a period of four (4) years after the
maturity, or applicable redemption date, of the Certificates such
moneys were deposited and are held in trust to pay shall upon the
request of the City be remitted to the City against a written
receipt therefor. Notwithstanding the above and foregoing, any
remittance of funds from the Paying Agent/Registrar to the City
shall be subject to any applicable unclaimed property laws of the
State of Texas.
SECTION 24: Ordinance a Contract -Amendments. This
Ordinance shall constitute a contract with the Holders from time
to time, be binding on the City, and shall not be amended or
repealed by the City so long as any Certificate remains
outstanding except as permitted in this Section. The City, may,
without the consent of or notice to any Holders of the
Certificates, from time to time and at any time, amend this
Ordinance in any manner not detrimental to the interests of the
76232 -25-
Holders of the Certificates, including the curing of any
ambiguity, inconsistency, or formal defect or omission herein. In
addition, the City may, with the written consent of Holders of the
Certificates holding a majority in aggregate principal amount of
the Certificates then Outstanding affected thereby, amend, add to,
or rescind any of the provisions of this Ordinance; provided that,
without the consent of all Holders of outstanding Certificates, no
such amendment, addition, or rescission shall (1) extend the time
or times of payment of the principal of, premium, if any, and
interest on the Certificates, reduce the principal amount thereof,
the redemption price, or the rate of interest thereon, or in any
other way modify the terms of payment of the principal of,
premium, if any, or interest on the Certificates, (2) give any
preference to any Certificate over any other Certificate, or (3)
reduce the aggregate principal amount of Certificates required to
be held by Holders for consent to any such amendment, addition, or
rescission.
SECTION 25: Notices to Holders -Waivers. Wherever this
Ordinance provides for notice to Holders of any event, such notice
shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and sent by United states Mail, first
class postage prepaid, to the address of each Holder appearing in
the Security Register at the close of business on the business day
next preceding the mailing of such notice.·
In any case where notice to Holders is given by mail, neither
the failure to mail such notice to any particular Holders, nor any
defect in any notice so mailed, shall affect the sufficiency of
such notice with respect to all other Certificates. Where this
Ordinance provides for notice in any manner, such notice may be
waived in writing by the Holder entitled to receive such
notice, either before or after the event with respect to which
such notice is given, and such waiver shall be the equivalent of
such notice. Waivers of notice by Holders shall be filed with the
Paying Agent/Registrar, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon
such waiver.
SECTION 26: cancellation. certificates surrendered for
payment, redemption, transfer, or exchange, if surrendered to the
Paying Agent/Registrar, shall be promptly cancelled by it and, if
surrendered to the City, shall be delivered to the Paying
Agent/Registrar and, if not already cancelled, shall be promptly
cancelled by the Paying Agent/Registrar. The City may at any time
deliver to the Paying Agent/Registrar for cancellation any
Certificates previously certified or registered and delivered
which the City may have acquired in any manner whatsoever, and all
Certificates so delivered shall be promptly cancelled by the
Paying Agent/Registrar. All cancelled Certificates held by the
Paying Agent/Registrar shall be returned to the City.
76232 -26-
SECTION 27: Mutilated, Destroyed. Lost and Stolen
Certificates. In case any Certificate shall be mutilated, or
destroyed, lost or stolen, the Paying Agent/Registrar may execute
and deliver a replacement certificate of like form and tenor, and
in the same denomination and bearing a number not
contemporaneously outstanding, in exchange and substitution for
such mutilated Certificate, or in lieu of and in substitution for
such destroyed, lost or stolen Certificate, only upon the approval
of the City and after (i) the filing by the Holder thereof with
the Paying Agent/Registrar of evidence satisfactory to the Paying
Agent/Registrar of the destruction, loss or theft of such
Certificate, and of the authenticity of the ownership thereof and
(ii) the furnishing to the Paying Agent/Registrar of
indemnification in an amount satisfactory to hold the City and the
Paying Agent/Registrar harmless. All expenses and charges
associated with such indemnity and with the preparation, execution
and delivery of a replacement Certificate shall be borne by the
Holder of the Certificate mutilated, or destroyed, lost or stolen.
Every replacement Certificate issued pursuant to this Section
shall be a valid and binding obligation, and shall be entitled to
all the benefits of this Ordinance equally and ratably with all
other Outstanding Certificates; notwithstanding the enforceability
of payment by anyone of the destroyed, lost or stolen
Certificates.
The provisions of this Section are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with
respect to the replacement and payment of mutilated, destroyed,
lost, or stolen Certificates.
SECTION 28: Covenants to Maintain Tax-Exempt status.
(a) Definitions. When used in this Section 28, the following
terms have the following meanings:
76232
"Code" means the Internal Revenue Code of 1986, as
amended by all legislation, if any, enacted on or before the
date of delivery of the Certificates to the initial
purchaser(s) thereof.
"Computation Date" has the meaning stated in Treas.
Reg. § 1.148-S(b)(l).
"Gross Proceeds" has the meaning stated in Treas. Reg.
§ 1.148-8(d).
"Investment" has the meaning stated in Treas.
Reg. S 1.148-S(e).
"Net Proceeds" of the Certificates means the proceeds of
the Certificates.
-21-
"Nonpurpose Investment II means any Investment in which
Gross Proceeds of the Certificates are invested and which is
not acquired to carry out the governmental purpose of the
Certificates.
"Rebatable Arbitrage" has the meaning stated in Treas.
Reg. S 1.148-2.
"Yield of"
(1) any Investment shall be
computed in accordance with Treas.
Reg. §1.148-2, and
(2) the Certificates has the meaning
stated in Treas. Reg.§ 1.148-3 •
. (b) Not to Cause Interest to Become Taxable. The City shall
not use, permit the use of, or omit to use Gross Proceeds or any
other amounts (or any property the acquisition, construction, or
improvement of which is to be financed directly or indirectly with
Gross Proceeds) in a manner which, if made or omitted,
respectively, would cause the interest on any Certificate to
become includable in the gross· income, as defined in section 61 of
the Code, of the owner thereof for federal income tax purposes.
Without limiting the generality of the foregoing, unless and until
the City shall have received a written opinion of counsel
nationally recognized in the field of municipal bond law to the
effect that failure to comply with such covenant will not
adversely affect the exclusion of interest on any Certificate from
gross income for federal income tax purposes pursuant to Section
103 of the Code, the City shall comply with each of the specific
covenants in this Section.
(c) No Private Use or Private Payments. Proceeds of the
Certificates and the facilities financed with the proceeds of the
Certificates will not be used in a manner that would cause the
Certificates to be "private activity bonds," as that term is
defined in section 141 of the Code. Except as permitted by
section 141 of the Code and the regulations and rulings
thereunder, the City shall, at all times prior to the last Stated
Maturity of Certificates,
76232
(1) exclusively own, operate, and possess all property
the acquisition, construction, or improvement of which is to
be financed directly or indirectly with Gross Proceeds of the
Certificates and not use or permit the use of such Gross
Proceeds or any property acquired, constructed, or improved
with such Gross Proceeds in any activity carried on by any
person or entity other than a state or local government,
unless such use is solely as a member of the general public,
or
-28-
(2) not directly or indirectly impose or accept any
charge or other payment for use of Gross Proceeds of the
certificates or any property the acquisition, construction,
or improvement of which is to be financed directly or
indirectly with such Gross Proceeds, other than taxes of
general application within the City or interest earned on
investments acquired with such Gross Proceeds pending
application for their intended purposes.
(d) No Private Loan. Except to the extent permitted by
section 141 of the Code and the regulations and rulings
thereunder, the City shall not use Gross Proceeds of the
Certificates to make or finance loans to any person or entity
other than a state or local government. For purposes of the
foregoing covenant, such Gross Proceeds are considered to be
"loaned" to a person or entity if (1) property acquired,
constructed, or improved with such Gross Proceeds is sold or
leased to such person or entity in a transaction which creates a
debt for federal income tax purposes, (2) capacity in or service
from such property is committed to such person or entity under a
take-or-pay, output, or similar contract or arrangement, or (3)
indirect benefits, or burdens and benefits of ownership, of such
Gross Proceeds or any property acquired, constructed, or improved
with such Gross Proceeds are otherwise transferred in a
transaction which is the economic equivalent of a loan.
(e) Not to Invest at Higher Yield. Except to the extent
permitted by section 148 of the Code and the regulations and
rulings thereunder, the City shall not, at any time prior to the
final Stated Maturity of the Certificates, directly or indirectly
invest Gross Proceeds of the Certificates in any Investment (or
use such Gross Proceeds to replace money so invested), if as a
result of such investment the Yield of all Investments allocated
to such Gross Proceeds whether then held or previously disposed
of, exceeds the Yield of the Certificates.
(f) Not Federally Guaranteed. Except to the extent permitted
by section 149(b) of the Code and the regulations and rulings
thereunder, the City shall not take or omit to take any action
which would cause the certificates to be federally guaranteed
within the meaning of Section 149(b) of the Code and the
regulations and rulings thereunder.
(g) Information Report. The City shall timely file with the
Secretary of the Treasury the information required by section
149(e) of the Code with respect to the Certificates on such form
and in such place as such Secretary may prescribe.
(h) Payment of Rebatable Arbitrage. Except to the extent
otherwise provided in section 14B(f) of the Code and the
regulations and rulings thereunder,
76232 -29-
(1) The city shall account for all Gross Proceeds of the
Certificates (including all receipts, expenditures, and
investments thereof) on its books of account separately and
apart from all other funds (and receipts, expenditures, and
investments thereof) and shall maintain all records of such
accounting with the official transcript of the proceedings
relating to the issuance of the Certificates until six years
after the final Computation Date. The city may, however, to
the extent permitted by law, commingle Gross Proceeds of the
Certificates with other money of the City, provided that the
City separately accounts for each receipt and expenditure of
such Gross Proceeds and the obligations acquired therewith.
(2) Not less frequently than each Computation Date, the
City shall either (i) cause to be calculated by a nationally
recognized accounting or financial advisory firm or (ii)
calculate and cause its calculations to be verified by a
nationally recognized accounting or financial advisory firm,
in either case in accordance with rules set forth in section
148(f) of the Code and Treas. Reg. S 1.148-2 and rulings
thereunder, the Rebatable Arbitrage with respect to the
Certificates. The City shall maintain such calculations with
the official transcript of the proceedings relating to the
issuance of the Certificates until six years after the final
Computation Date.
(3) As additional consideration for the purchase of the
Certificates by the initial purchasers thereof and the loan
of the money represented thereby, and in order to induce such
purchase by measures designed to result in the excludability
of the interest thereon from the gross income of the owners
thereof for federal income tax purposes, the City shall pay
to the United States the amount described in paragraph (2)
above and the amount described in paragraph (4) below, at the
times, in the installments, to the place, in the manner, and
accompanied by such forms or other information as is or may
be required by section 148(f) of the Code and
Treas. Reg. SS 1.148-1 through 1.148-9 and rulings
thereunder.
( 4) The City shall exercise reasonable diligence to
assure that no errors are made in the calculations required
by paragraph (2) and, if such error is made, to discover and
promptly to correct such error within a reasonable amount of
time thereafter, including payment to the United states of
any Correction Amount as described in Treas.
Reg. § 1.148-l(c)(2) and any penalty under Treas. Reg.
§ 1.148-l(c)(3)(ii)(B).
SECTION 29: Sale of the Certificates. The sale of the
certificates to the Texas Water Development Board (herein referred
to as the "Purchasers" or the "Board") at the price of par is
76232 -30-
hereby approved and confirmed. Delivery of the Certificates to
the Purchasers shall occur as soon as possible upon payment being
made therefor in accordance with the terms of sale.
SECTION 30: Proceeds of sale; construction Fund. The city
hereby creates a construction fund account in the City's
depository bank, which is known as the "Construction Fund", into
which shall be deposited all proceeds derived from the sale of the
Certificates, all in accordance with Section 32 of this Ordinance
and this Section. To the extent of conflict between this Section
and Section 32, Section 32 controls.
Moneys on deposit in the Construction Fund shall be disbursed
only for payment of the costs of the project financed. All
expenditures for construction, labor and materials shall be
disbursed only upon receipt of a certificate of Black & Veatch
Engineers, the engineer named in the City's Application to the
Board, or of a substitute engineer acceptable to the Board, based
upon estimates of work and material furnished as approved by them
and submitted to the City and the City's engineer for approval
prior to payment. The City shall keep records of the nature and
amount of all Construction Fund expenditures and make the same
available to the engineers at all reasonable times. Should there
be any balance in the Construction Fund after all such costs of
the Project have been paid, such balance shall be placed in the
Certificate Fund.
Subject to the limitations of the Public Funds Investment Act
of 1987, moneys in the Construction Fund may be invested in one or
more of the following (a) Government Obligations, (b) certificates
of deposit of any bank or trust company which are fully secured by
a pledge of direct obligations of, or obligations of which the
principal and interest are guaranteed by, the United States of
America to the extent such certificates are not insured, which
obligations shall mature on dates which coincide as closely as
practicable to the dates when money will be needed to pay
construction costs as such dates are estimated in schedules
prepared by the engineer and furnished the City. All earnings
realized from these investments shall be transferred to the
Certificate Fund.
SECTION 31: Control and custody of Certificates. The Mayor
of the city shall be and is hereby authorized to take and have
charge of all necessary orders and records pending investigation
by the Attorney General of the state of Texas, including the
printing of the certificates, and shall take and have charge and
control of the Certificates pending the approval thereof by the
Attorney General, the registration thereof by the Comptroller of
Public Accounts and the delivery thereof to the Purchasers.
Furthermore, the Mayor, City Secretary, city Manager, and
Assistant City Manager for Financial Services, any one or more of
76232 -31-
said officials, are hereby authorized and directed to furnish and
execute such documents and certifications relating to the City and
the issuance of the Certificates, including a certification as to
facts, estimates, circumstances and reasonable expectations
pertaining to the use and expend! ture and investment of the
proceeds of the Certificates as may be necessary for the approval
of the Attorney General, registration by the Comptroller of Public
Accounts and delivery of the Certificates to the purchasers
thereof and, together with the City's financial advisor, bond
counsel and the Paying Agent/Registrar, make the necessary
arrangements for the delivery of the Initial Certificate to the
purchasers.
SECTION 32: Compliance with State Revolving Loan Fund Rules.
In compliance with the State Revolving Loan Fund Permanent Rules
of the Board, the City agrees and covenants:
(1) to keep and maintain full and complete records and
accounts pertaining to the construction of the project financed
with the proceeds of sale of the Certificates, including the
construction fund account created below, in accordance with the
standards set forth by the Government Accounting Standard Board;
(2) a "Special City of Lubbock SRF Loan Construction Fund"
has been created and established by Section 30 of this Ordinance
at an official depository of the Ci~y (the "Construction Fund")
for the receipt and disbursement of all proceeds from the sale of
the Certificates and all other funds acquired by the City in
connection with the planning and construction of the projects
financed, in whole or in part, by the Board pursuant to a loan
evidenced by the Certificates and all funds deposited to the
credit of the Construction Fund shall be disbursed only for the
payment of costs and expenses incurred in connection with the
planning and building of such projects as approved by the Board
and as otherwise allowed by the rules;
(3) upon completion of the construction of the projects
financed, in whole or in part, by the loan evidenced by the
Certificates, to provide (i) to the Executive Administrator of the
Board a complete set of as-built drawings and (ii) to the Board a
final accounting of the total costs of the projects. If the
projects as finally completed were built at a total cost less than
the amount of available funds for building the projects, or if the
Executive Administrator of the Board disapproves construction of
any portion of such projects as not being in accordance with the
plans and specifications, the City agrees to immediately, with
filing of the final accounting, return to the Board the amount of
any such excess and/ or the cost determined by the Executive
Administrator of the Board relating to the parts of such projects
not built in accordance with the plans and specifications, to the
nearest multiple of the authorized denominations for the
Certificates, upon the surrender and cancellation of a like amount
76232 -32-
of such Certificates held by the Board in inverse order of their
Stated Maturities. In determining the amount of available funds
for building the project, the City agrees to account for all
amounts deposited to the credit of the Construction Fund,
including all loan funds extended by the Board, all other funds
available from the projects as described in the project engineer's
or fiscal representative's sufficiency of funds statement and all
interest earned by the City on money in the Construction Fund;
(4) notwithstanding the provisions of Section 16 hereof, to
maintain adequate insurance coverage on the projects financed with
the proceeds of the certificates in amounts adequate to protect
the Board's interest;
(5) to implement any water conservation program required by
the Board until all financial obligations to the State have been
discharged;
(6) to comply with any special conditions specified by the
Board's environmental determination until all financial
obligations to the State have been discharged; and
(7) to abide by the Board's rules and relevant state
statutes.
SECTION 33: Legal Opinion. The Purchaser's obligation to
accept delivery of the certificates is subject to being furnished
a final opinion of Fulbright & Jaworski L.L.P., Attorneys,
approving such Certificates as to their validity, said opinion to
be dated and delivered as of the date of final delivery and
payment for the Certificates.
SECTION 34: CUSIP Numbers. That CUSIP numbers may be
printed or typed on the definitive Certificates. It is expressly
provided, however, that the presence or absence of CUSIP numbers
on the definitive Certificates shall be of no significance or
effect as regards the legality thereof and neither the City nor
attorneys approving said Certificates as to legality are to be
held responsible for CUSIP numbers incorrectly printed or typed on
the definitive certificates.
SECTION 35: Benefits of ordinance. Nothing in this
Ordinance, expressed or implied, is intended or shall be construed
to confer upon any person other than the City, the Paying
Agent/Registrar and the Holders, any right, remedy, or claim,
legal or equitable, under or by reason of this Ordinance or any
provision hereof, this Ordinance and all its provisions being
intended to be and being for the sole and exclusive benefit of the
City, the Paying Agent/Registrar and the Holders.
76232 -33-
SECTION 36: Inconsistent Provisions. All ordinances,
orders or resolutions, or parts thereof, which are in conflict or
inconsistent with any provision of this Ordinance are hereby
repealed to the extent of such conflict and the provisions of this
Ordinance shall be and remain controlling as to the matters
contained herein.
SECTION 37: Governing Law. This ordinance shall be
construed and enforced in accordance with the laws of the State of
Texas and the United states of America.
SECTION 38: Severability. If any provision of this
Ordinance or the application thereof to any circumstance shall be
held to be invalid, the remainder of this Ordinance and the
application thereof to other circumstances shall nevertheless be
valid, and the City Council hereby declares that this Ordinance
would have been enacted without such invalid provision.
SECTION 39: Effect of Headings. The Section headings
herein are for convenience only and shall not affect the
construction hereof.
SECTION 40: construction of Terms. If appropriate in the
context of this Ordinance, words of the singular number shall be
considered to include the plural, words of the plural number shall
be considered to include the singular, and words of the masculine,
feminine or neuter gender shall be considered to include the other
genders.
SECTION 41: Public Meeting. It is officially found,
determined, and declared that the meeting at which this Ordinance
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 Ordinance, was given, all as
required by Article 6252-17, Vernon's Texas civil statutes, as
amended.
SECTION 42: Effective Date. This ordinance shall take
effect and be in force immediately from and after its passage on
second and final reading, and IT IS SO ORDAINED.
76232 -34-
PASSED AND ADOPTED ON FIRST READING, this 22nd day of April,
1993.
PASSED AND ADOPTED ON SECO -----of May, 1993.
this 13th day
ATTEST:
c~~
(City Seal)
76232 -35-
TELEPHONE: 21<4/855•8000
f'ACSIMILE: 114/855•8200
FULBRIGHT & JAWORSKI
L. L. P.
A REGISTERED LIMITEO LIABILITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2800
DALLAS, TEXAS 75201
HOUSTON
WASHINGTON. D.C.
WRITER'S OIRECT DIAL NUMBER:
214/855•8002
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
X
VIA FEDERAL EXPRESS
Ms. Betty Johnson
City Secretary
1625 13th Street
Lubbock, Texas 79401
April 13, 1992
[;J. ~ ¥-2. 1 Y -tq ~ -t¥-r 4• ll-'f)
,..._Hf.;7
RE: . $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Certificates of Obligation, Series 199311
Dear Betty:
Enclosed herewith are the proceedings relating to the issuance of the above
described certificates. The enclosures are as follows:
1. Two copies of the Ordinance authorizing the issuance of the certificates.
When executed, one copy is for the City's records and one copy is to be returned to
us.
2. Five copies of the Certificate of City Secretary relating to passage of the
ordinance on first reading. When completed and executed, one copy is for the City's
records and four copies are to be returned to us.
3. Five copies of the Certificate of City Secretary relating to the passage of
the ordinance on second reading. When completed and executed, one copy is for the
City's files and four copies are to be returned to us.
4. Five copies of the General Certificate to be dated and executed. Retain
1 one copy for your files and return four copies to us. The debt service requirement
schedule attached as Exhibit A will be furnished by First Southwest Company.
5. Five copies of Signature and No-Litigation Certificate to be executed by
the Mayor and City Secretary and their signatures notarized. The seal of the City
is to be impressed on each Certificate. DO NOT DATE these Certificates as they will
be dated at the time of delivery. Return all copies to us. t!1s"t, n,),r.,.·, '2i"4,~ t~Jl
16239
•
Ms. Betty Johnson
April 18, 1992
Page2
The signatures of the City officials must conform to the signatures of those
officials signing the Initial Certificates.
6. Three copies of the Paying Agent/Registrar Agreement relating to the
Certificates. After execution, all copies should be returned to us. We will forward
them on to Ameritrust Texas National Association.
7. Two copies each of four letters of instruction to be signed by the
appropriate City officials. Retain one copy of each letter for your files and return one
copy to us .
8. The Initial Certificate to be signed, sealed and returned to us.
9. Three copies of Form 8038-G to be signed and returned to us. We will
complete the form and file with Internal Revenue Service after delivery of the
certificates. ,;~ ~ ~()A.J.u ,;-. ..,,, ~ , 1:M.,4-1:)otf .,.. i) A-Tc
Please call if you have any questions.
Very truly yours,
4twV
Mark S. Westergard
MSW/le
Enclosures
76239
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 22nd day of April, 1993, 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:
DAVID R. LANGSTON
MAGGIE TREJO
T.J. PATTERSON
RANDY NEUGEBAUER
M.J. ADERTON
TY COOKE
MAX INCE
MAYOR
MAYOR PRO TEM
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
all of said persons were present at said meeting, except the
following: Max Ince, Councilmember • Among
other business considered at said meeting, the attached Ordinance
entitled:
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the City's sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to ·the issuance, sale,
security, payment and deli very of said
Certificates; and providing an effective date.
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
Ordinance, and upon a motion made by Councilmember T. .J. Patterson
and seconded by Councilmember H • .J. Merton the ordinance was duly
passed and adopted by the Council on first reading by the following
vote:
6 voted "For" 0 voted "Against" 0 abstained
76255 --
all as shown in the official Minutes of the Council for the meeting
held on the aforesaid date.
2. That the attached Ordinance 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, each member of the Council
was given actual notice of time, place and purpose of the meeting
and had actual notice that the matter would be considered; 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 ordinance, 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 22nd day of April,
1993.
City of Lubbock, Texas
(City Seal)
76255 ·--2----
extensions being financed by such obligations, such interest
earnings, upon approval of the governing body of the City, will be
used for the construction of improvements and extensions for which
such obligations are being issued.
this the 22nd day of April,
(City Seal)
76254 ·--4-
avid R. Langston
~µ_~~ . Ci.tyecre'tr¥,city of Lubbock,
Texas
Betty M. Johnson
---
....
GENERAL CERTIFICATE
THE STATE OF TEXAS §
§
COUNTY OF LUBBOCK §
§
CITY OF LUBBOCK §
WE, the undersigned, Mayor and City Secretary, respectively,
of the City of Lubbock, Texas, DO HEREBY CERTIFY as follows:
1. Relative to Tax-Supported Indebtedness.
That the total principal amount of indebtedness of the City,
including the proposed $14,480,000 "City of Lubbock, Texas,
Combination Tax and sewer system Subordinate Lien Revenue
Certificates of Obligation, Series 1993," dated May 1, 1993,
payable from ad valorem taxes levied and collected by the City is
as follows:
OUTSTANDING INDEBTEDNESS
SERIES 1993 CERTIFICATES
TOTAL INDEBTEDNESS
2. Relative to Debt Service Requirements.
$122,988,752
14.480.000
$137,468,752
That a debt service requirement schedule for the City's
above-described outstanding indebtedness as well as the proposed
$14,480,000 "City of Lubbock, Texas, Combination Tax and sewer
system Subordinate Lien Revenue Certificates of Obligation, Series
1993," dated May 1, 1993, is attached hereto as Exhibit A and made
a part of this certificate for all purposes.
3. Relative to City Officials.
That certain duly qualified and acting officers of said City
are as follows:
4.
DAVID R. LANGSTON
BETTY M. JOHNSON
J. ROBERT MASSENGALE
MAYOR
CITY SECRETARY
ASSISTANT CITY MANAGER
FOR_FINANCIAL SERVICES -
CITY TREASURER
Relative to Incorporation.
That said City is incorporated under the General Laws of the
State of Texas, and is operating under the Home Rule Amendment to
the Texas Constitution, Section 5, Article XI, as amended in 1912;
76254 .: ---
the City Charter was originally adopted at an election held on
December 27, 1917, and said Charter has not been amended or revised
in any respect since May 7, 1988, the date of the last Charter
Amendment Election.
5. Relative to Taxable Value~.
That the assessed value of all taxable property (net of
exemptions) in the City, as shown by the tax rolls for the year
1991, and which have been duly approved and are the latest official
assessment of taxable property in the City is as follows:
TOTAL ASSESSED TAXABLE VALUES OF
REAL AND PERSONAL PROPERTY
6. Relative to Nonencumbrance.
$4,667,519,371
Save and except for the pledge of the income and revenues of
the City's Sewer System to the payment of principal and interest to
become due with respect to the proposed "City of Lubbock, Texas,
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993," dated May 1, 1993, and
the "City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Certificates of Obligation, Series 1988,"
"City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Refunding Bonds, Series 1988,11 "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1991, 11 and "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1992," said income and
revenues of said System have not been pledged or hypothecated in
any other manner or for any other purpose; and the above
obligations evidence the only liens, encumbrances or indebtedness
of said System or against the income and revenues of such System.
7. Relative to Income and Revenues.
The following is a schedule of the gross receipts, operating
expenses and net revenues of the City's Sewer System for the years
stated:
Fiscal Year Gross Operating Net
Ending 9-30 Receipts Expenses Revenues
1988 $ 6,370,167 $ 4,201,440 .$ 2,169,327
1989 9,097,080 4,124,560 4,972,520
1990 10,334,826 4,054,261 6,280,565
1991 9,417,207 4,402,344 5,014,863
1992 11,150,474 4,716,171 6,434,303
76254 ·--2-. --
'-. Jt ,,,,.
8. Relative to Utility Properties.
The sewer utility properties owned, operated and maintained by
the City currently provides sewer services to approximately 62,262
inhabitants of the city.
As of the date hereof, no question is pending and no
proceedings of any nature have been instituted in any manner
questioning the City's right and title to its utility properties or
its authority to operate the same.
9. Relative to Rates and Charges.
The current monthly rates and charges for services provided by
the City's Sewer System are as follows:
Residential
Base Rate $2.49*
SEWER RATES
Present Rate
(effective 10/1/92)
Flow Rate 1.06/M gallons**
Maximum Monthy Charge $15.21
Commercial/Industrial (1)
Base Rate $2.49*
Flow Rate 1.06/M gallons
*Base Rate is based on a 3 / 4" meter; there are higher Base
Rates for larger meters up to a maximum Base Rate of $556.10
for a 1011 meter
**Based on average monthly water consumption for the three
months December, 1991-February, 1992; no flow rate charged for
consumption in excess of 12,000 gallons per month.
10. Relative to No Petition.
That no petition of any kind or character has been filed with
the Mayor, city Secretary or any other official of the City
protesting the issuance of the proposed "City of Lubbock, Texas
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993".
11. Relative to Interest Earnings.
That interest earnings on proceeds from the sale of
$14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation, Series
1993" will be deposited to the Certificate Fund established by the
ordinance authorizing the issuance of the obligations, save and
except during the time of construction of improvements and
76254 -3----
April 22, 1993
Attorney General of Texas
411 West 13th Street -4th Floor
Austin, Texas 78701
Attention: Public Finance Division
RE: $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation,
Series 1993", dated May 1, 1993
Ladies and Gentlemen:
Enclosed herewith is the Initial Certificate of the above .
series and a Signature and No-Litigation Certificate relating
thereto, executed and completed except as to date.
When the record of proceedings relating to the issuance of the
above referenced series and the Initial Certificate have been
approved by your office, this will be your authority to insert that
date in the Signature and No-Litigation Certificate and deliver
such Initial Certificate to the Comptroller of Public Accounts for
registration.
Should any litigation in any way affecting the issuance of the
certificates or the security for the payment thereof develop prior
to that date, the undersigned or other official of the City, will
notify you at once by telephone and by telegraph. You may thus be
assured that there is no such litigation at the time the
certificates are finally approved unless notice to the contrary has
been given in the manner afor enti ed.
exas
76242/1 ---
April 22, 1993
Ms. Arlene Chisholm
Economic Analysis Center
Comptroller of Public Accounts
P.O. Box 13528, Capitol Station
Austin, Texas 78711
RE: $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation,
Series 199311 , dated May 1, 1993
Dear Ms. Chisholm:
When the Initial Certificate of the series described above has ,
been received from the Attorney General, please register the same
on behalf of the City, and when so registered, forward it by
overnight delivery to the firm of Fulbright & Jaworski L.L.P., 2200
Ross Avenue, Suite 2800, Dallas, Texas 75201, Attention: Marks.
Westergard for further handling under our instructions to them.
It is further requested that three copies of the approving
opinion of the Attorney General and Comptroller's Registration
Certificate be enclosed with +..i..-=-itial Certificate when it is
sent to said firm.
ayor,
David R. Langston
76242/2 . -~
April 22, 1993
Ameritrust Texas National Association
1000 San Jacinto Center
98 San Jacinto Blvd.
Austin, Texas 78701
Attention: Janna Hill
RE: $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
system Subordinate Lien Revenue Certificates of Obligation,
Series 199311 , dated May 1, 1993
Dear Ms. Hill:
In reference to the above described series of obligations, the
delivery of the same to the initial purchasers is to occur at your
Bank with one (1) fully registered obligation in the total
principal amount of said series (the "Initial Obligation"). When
the Initial Obligation has been approved by the Attorney General
and registered by the Comptroller of Public Accounts, it will be
sent by the Comptroller to the City's Bond Counsel, Fulbright &
Jaworski L.L.:t;>.,, Attorneys at Law, 2200 Ross Avenue, suite 2800,
Dallas, Texas· for their examination. After the examination of the
Initial Obligation by said Firm, the same will be sent to you and
thereupon you are authorized to deliver the same to the initial
purchasers thereof, to wit: Texas Water Development Board, or their
order, upon payment being made therefor in immediately available
funds in accordance with the terms of the Certificate and Receipt
for Payment enclosed herewith.
When payment for the obligations has occurred, please transmit
the proceeds thereof by the fastest means available in immediately
available funds to the City's depository bank, American State Bank,
Lubbock, Texas, Attention: Selma Sedgwick.
Enclosed herewith you will find four copies of the Signature
and No-Litigation Certificate and three copies of the Certificate
and Receipt for Payment executed and completed except as to date.
When payment for the obligations is made, please date and release
one copy of the Signature and No-Litigation Certificate to the
purchasers and forward the remaining copies of said Certificate and
all executed and dated copies of the Certificate and Receipt for
Payment to Bond Counsel at the address shown above.
76242/4 . -.
Should any litigation having any effect upon the subject
obligations develop prior to the time you have received payment for
same, the undersigned or other official of the City will notify you
at once by telephone and byte a • You may thus be assured
that there is no such litigat·on at ttl ti--r-~Lobligat'
delivered to you unless you ave be ad ised the ·
manner aforementioned.
76242/5
ayor, City
David R. Langston
. --
April 22, 1993
Messrs. Fulbright & Jaworski L.L.P.
2200 Ross Avenue, Suite 2800
Dallas, Texas 75201
RE: $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
system Subordinate Lien Revenue certificates of Obligation,
Series 1993", dated May 1, 1993
Gentlemen:
Enclosed you will find five Certificates as to Tax Exemp~ion
executed but undated.
At such time as the above desaE--::1,.,eed certificates are delivered
to the purchaser, you are aut rized t complete and date each of
these certificates.
76242/3
stant
Financial Services
City of Lubbock, Texas
J. Robert Massengale
---
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
AFFIDAVIT OF POSTING
s s
§ s s
BEFORE ME, the undersigned authority, on this day personally
appeared BETTY M. JOHNSON, City Secretary of the City of Lubbock,
Texas, who, after being by me duly sworn says upon oath as follows:
1. That a true and correct copy of the "NOTICE OF BOND
ELECTION," in English and Spanish, hereto attached, was posted at
each of the following places:
ONE COPY at the City Hall, Lubbock, Texas;
ONE COPY at Lubbock County Courthouse
ONE COPY at U.S. Postal Service
ONE COPY at Lubbock Independent School District
;
2. That said notices were posted on April 15 , 1993,
which date is not less than fourteen (14) full days prior to the
date of the election.
3. That all of said places are public places within the City
of Lubbock, Texas. ·
City of Luboock, Texas
SWORN TO AND SUBSCRIBED BEFORE ME, this the 15th day of
April , 1993.
Notary PublC,State of Texas
My Commission Expires: /o-t,-9/.tJ
'
(Notary.Sei,il)
0070329
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
NOTICE OF BOND ELECTION
§
§
§
§ s
TO THE RESIDENT QUALIFIED ELECTORS OF THE
CITY OF LUBBOCK, TEXAS:
TAKE NOTICE that an election will be held in the City of
Lubbock, Texas, on the 1st day of May, 1993, in accordance with an
ordinance adopted by the City Council which is a part of this
notice for all purposes and reads as follows:
·-ORDINANCE NO. 9583 . -·
AN ORDINANCE ordering a bond election to be held in the
City of Lubbock, Texas, making provision for the
conduct of the election and resolving other matters
incident and related to such election.
WHEREAS, the City Council of the City of Lubbock, Texas hereby
finds that an election should be held to determine whether said
governing body shall be authorized to issue bonds of said City in
the amounts and for the purposes hereinafter identified; now,
therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1: An election shall be held on the 1st day of May,
1993 in the City of Lubbock, Texas, which date is not less than
fifteen (15) nor more than ninety (90) days from the date of the
final adoption hereof and such date is a uniform election date. At
such election, the following measures shall be submitted:
0063475
PROPOSITION NUMBER 1
"SHALL the City council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the . City in the principal amount of $10,170,000 for
permanent public improvements and public purposes, to
wit: construction of street improvements, including
signalization, lighting and rights-of-way; such bonds to
mature serially or otherwise over a period not to exceed
·FORTY (40) years from their date, to be issued and -sold
in one or more series at any price or prices and to bear
interest at any rate or rates (fixed, floating, variable
0063475
or otherwise) as shall be determined within the discre-
tion of the City Council at the time of issuance or sale
of the bonds; and whether ad valorem taxes shall be
levied upon all taxable property in the City sufficient
to pay the annual interest and provide a sinking fund to
pay the bonds at maturity?"
PROPOSITION NUMBER 2
"SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $2,550,000 for
permanent public improvements and public purposes, to
wit: improving the existing City Airport, including
heating, ventilation, air conditioning, roofing, and
parking; such bonds to mature serially or otherwise over
a period not to exceed FORTY (40) years from their date,
to be issued and sold in one or more series at any price
or prices and to bear interest at any rate or rates
(fixed, floating, variable or otherwise) as shall be
determined within the discretion of the City Council at
the time of issuance or sale of the bonds; and whether ad
valorem taxes shall be levied upon all taxable property
in the City sufficient to pay the annual interest and
provide a sinking fund to pay the bonds at maturity?"
PROPOSITION NUMBER 3
"SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $2,780,000 for
permanent public improvements and public purposes, to
wit: improving and equipping library facilities in and
for said City; such bonds to mature serially or otherwise
over a period not to exceed FORTY (40) years from their
date, to be issued and sold in one or more series at any
price or prices and to bear interest at any rate or rates
(fixed, floating, variable or otherwise) as shall be
determined within the discretion of the City Council at
the time of issuance or sale of the bonds; and whether ad
valorem taxes shall be levied upon all taxable property
in the City sufficient to pay the annual interest and
provide a sinking fund to pay the bonds at maturity?"
PROPOSITION NUMBER 4
"SHALL the City council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $5,385, ooo for
permanent public improvements and public purposes, to
-2-
0063475
wit: park improvements, including neighborhood parks,
athletic fields and swimming pools; such bonds to mature
serially or otherwise over a period not to exceed FORTY
(40) years from their date, to be issued and sold in one
or more series at any price or prices and to bear
interest at any rate or rates (fixed, floating, variable
or otherwise) as shall be determined within the
discretion of the City Council at the time of issuance or
sale of the bonds; and whether ad valorem taxes shall be
levied upon all taxable property in the City sufficient
to pay the annual interest and provide a sinking fund to
pay the bonds at maturity?"
PROPOSITION NUMBER 5
"SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $3,585, ooo for
permanent public improvements and public purposes, to
wit: improvements to coliseum, including heating,
ventilation, and air conditioning, roofing, stadium
sealing, and lighting; such bonds to mature serially or
otherwise over a period not to exceed FORTY (40) years
from their date, to be issued and sold in one or more
series at any price or prices and to bear interest at any
rate or rates (fixed, floating, variable or otherwise) as
shall be determined within the discretion of the City
Council at the time of issuance or sale of the bonds; and
whether ad valorem taxes shall be levied upon all taxable
property in the City sufficient to pay the annual
interest and provide a sinking fund to pay the bonds at
maturity?"
PROPOSITION NUMBER 6
"SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $2,000,ooo for
permanent public improvements and public purposes, to
wit: improvements to communication systems; such bonds
to mature serially or otherwise over a period not to
exceed FORTY (40) years from their date, to be issued and
sold in one or more series at any price or prices and to
bear interest at any rate or rates (fixed, floating,
variable or otherwise) ·as shall be determined within the
discretion of the City Council at the time of issuance or
. sale of the bonds; and whether ad valorem taxes shall be
levied upon all taxable property in the City sufficient
to pay the annual interest and provide a sinking fund to
pay the bonds at maturity?"
-3-
0063475
PROPOSITION NUMBER 7
"SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the city in the principal amount of $470,000 for
permanent public improvements and public purposes, to
wit: improvements to fire department emergency traffic
control system; such bonds to mature serially or
otherwise over a period not to exceed FORTY {40) years
from their date, to be issued and sold in one or more
series at any price or prices and to bear interest at any
rate or rates {fixed, floating, variable or otherwise) as
shall be determined within the discretion of the City
Council at the time of issuance or sale of the bonds; and
whether ad valorem taxes shall be levied upon all taxable
property in the City sufficient to pay the annual
interest and provide a sinking fund to pay the bonds at
maturity?"
PROPOSITION NUMBER 8
11 SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $500,000 for
permanent public improvements and public purposes, to
wit: construction of and improvements to animal control
facilities; such bonds to mature serially or otherwise
over a period not to exceed FORTY {40) years from their
date, to be issued and sold in one or more series at any
price or prices and to bear interest at any rate or rates
{fixed, floating, variable or otherwise) as shall be
determined within the discretion of the City council at
the time of issuance or sale of the bonds; and whether ad
valorem taxes shall be levied upon all taxable property
in the city sufficient to pay the annual interest and
provide a sinking fund to pay the bonds at maturity?"
PROPOSITION NUMBER 9
0 sHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $1,415,000 for
permanent ·public improvements and public purposes, to
wit: waterworks improvements and extensions; such bonds
to mature serially or otherwise over a period not to
exceed FORTY {40) years from their date, to be issued and
sold in one or more series at any price or prices and to
bear interest at any rate or rates {f'ixed, floating,
variable or otherwise) as shall be determined within the
discretion of the City Council at the time of issuance or
-4-
sale of the bonds; and whether ad valorem taxes shall be
levied upon all taxable property in the City sufficient
to pay the annual interest and provide a sinking fund to
pay the bonds at maturity?"
PROPOSITION NUMBER 10
II SHALL the City Council of the City of Lubbock,
Texas, be authorized to issue general obligation bonds of
the City in the principal amount of $1,835,000 for
permanent public improvements and public purposes, to
wit: improvements and extensions to the City's sanitary
sewer system; such bonds to mature serially or otherwise
over a period not to exceed FORTY (40) years from their
date, to be issued and sold in one or more series at any
price or prices and to bear interest at any rate or rates
(fixed, floating, variable or otherwise) as shall be
determined within the discretion of the City Council at
the time of issuance or sale of the bonds; and whether ad
valorem taxes shall be levied upon all taxable property
in the city sufficient to pay the annual interest and
provide a sinking fund to pay the bonds at maturity?"
SECTION 2: An electronic voting system shall be used in this
election, including early voting. Ballots shall be prepared in
accordance with the applicable provisions of the Election Code so
that voters may cast their ballots either "FOR" or "AGAINST" the
measures, which shall appear on the ballot substantially as
follows:
0063475
PROPOSITION NUMBER 1
"THE ISSUANCE OF $10,170, 000 GENERAL OBLIGATION BONDS FOR
STREET IMPROVEMENTS, INCLUDING SIGNALIZATION, LIGHTING
AND RIGHTS-OF-WAY"
PROPOSITION NUMBER 2
"THE ISSUANCE OF $2,5501 000 GENERAL OBLIGATION BONDS FOR
AIRPORT IMPROVEMENTS, INCLUDING HEATING, VENTILATION, AND
AIR CONDITIONING, ROOFING, AND PARKING"
PROPOSITION NUMBER 3
11THE ISSUANCE OF $2,780,000 GENERAL OBLIGATION BONDS FOR
IMPROVING AND EQUIPPING LIBRARY FACILITIES"
-s-
PROPOSITION NUMBER 4
"THE ISSUANCE OF $5,385, 000 GENERAL OBLIGATION BONDS FOR
PARK IMPROVEMENTS, INCLUDING NEIGHBORHOOD PARKS, ATHLETIC
FIELDS AND SWIMMING POOLS"
PROPOSITION NUMBER 5
"THE ISSUANCE OF $3,585,000 GENERAL OBLIGATION BONDS FOR
COLISEUM IMPROVEMENTS, INCLUDING HEATING, VENTILATION,
AND AIR CONDITIONING, ROOFING, STADIUM SEALING, AND
LIGHTING"
PROPOSITION NUMBER 6
11THE ISSUANCE OF $2,000,000 GENERAL OBLIGATION BONDS FOR
COMMUNICATION SYSTEMS IMPROVEMENTS"
PROPOSITION NUMBER 7
11THE ISSUANCE OF $470,000 GENERAL OBLIGATION BONDS FOR
'FIRE DEPARTMENT EMERGENCY TRAFFIC CONTROL SYSTEM
IMPROVEMENTS"
PROPOSITION NUMBER 8
"THE ISSUANCE OF $500,000 GENERAL OBLIGATION BONDS FOR
ANIMAL CONTROL FACILITIES"
PROPOSITION NUMBER 9
"THE ISSUANCE OF $1,415,000 GENERAL OBLIGATION BONDS FOR
WATERWORKS IMPROVEMENTS AND EXTENSIONS"
PROPOSITION NUMBER 10
"THE ISSUANCE OF $1,835,000 GENERAL OBLIGATION BONDS FOR
SANITARY SEWER SYSTEM IMPROVEMENTS AND EXTENSIONS"
The Central Counting station for the tabulation and counting
of ballots for this election shall be located at the Lubbock County
Courthouse, Lubbock, Texas. The Manager and Presiding Judge of the
Central Counting Station may appoint clerks to serve at su9h
Station, as provided by Section 127.006 of the Election Code.
SECTION 3: This election shall be conducted as a joint
election with Lubbock County using a joint ballot. The City shall
be divided into 74 election precincts for this election and the
polling places designated for each election precinct are shown •in
Exhibit "A," which is attached hereto and incorporated herein by
0063475
-6-
reference as a part hereof for all purposes. The persons appointed
to serve as Presiding Judge and Alternate Presiding Judge for each
polling place and the persons appointed to serve as Manager,
Tabulation supervisor, Presiding Judge and Alternate Presiding
Judge of the Central Counting station and Presiding Judge and
Alternate Presiding Judge of the Early Ballot Board will be
designated and published in the Notice of Election.
Each Presiding Judge shall appoint not less than two (2) nor
more than six (6) qualified clerks to serve and assist in holding
said election; provided that if the Presiding Judge appointed
actually serves, the Alternate Presiding Judge shall be one of the
clerks.
On election day, the polls shall be open from 7:00 A.M. to
7:00 P.M.
The sealed ballot box procedure established by Subchapter c,
Chapter 127, Texas Election Code, shall be used for this election.
Joint early voting shall be conducted, in accordance with the
provisions of the Election Code, at the County Clerk's Office at
904 Broadway, Lubbock, Texas, on each day except designated
Saturdays, Sundays and official state holidays during the period
required by law for conducting early voting. The hours for early
voting shall be the regular hours of business of the office of the
County Clerk which are 8:30 A.M. to 5:00 P.M. Early voting shall
commence April 12, 1993, and end April 27, 1993.
Additionally, early voting shall be conducted, in accordance
with the provisions of the Election Code, at branch offices for
early voting by personal appearance located at the City Secretary's
Office, 1625 13th Street, Lubbock, Texas; South Plains Mall, 6002
Slide Road, Lubbock, Texas; and Alderson Junior High School, 219
Walnut, Lubbock, Texas. The Deputy Clerks to serve at said branch
office will be designated and published in the Notice of Election.
The hours designated for early voting by personal appearance at the
City Secretary's Office shall be from 8:30 A.M. to 5:00 P.M. and at
the South Plains Mall from 8:30 A.M. to 6:00 P.M. each day except
designated Saturdays, Sundays and official state holidays during
the period required by law for conducting early voting. The hours
of early voting at Alderson Junior High shall be 8:30 A.M. to 5:00
P.M. each day except designated Saturdays, Sundays and official
state holidays. ·
All early voting locations shall be open for voting by
personal appearance on the last Saturday and Sunday of the early
voting period from 10:00 A.M. to 6:00 P.M. on Saturday. and 1:00
0063475
-7-
P.M. to 6:00 P.M. on Sunday. Early voting hours at all locations
shall be 8:30 A.M. to 8:30 P.M. on the last two days of the early
voting period.
SECTION 4: All resident qualified electors of the City shall
be permitted to vote at said election, and on the day of the
election, such electors shall vote at the polling place designated
for the Election Precinct in which they reside. This election
shall be held and conducted in accordance with the provisions of
V.T.C.A., Election Code and Chapter 1 of Title 22, V.A.T.c.s., and
as may be required by law, all election materials and proceedings
shall be printed in both English and Spanish.
SECTION 5: A substantial copy of this ordinance shall serve
as proper notice of said election. Said notice, including a
Spanish translation thereof, shall be posted at three (3) public
places within the City and at the City Hall not less than fourteen
(14) full days prior to the date on which said election is to be
held, and be published on the same day in each of two successive
weeks in a newspaper of general circulation in said City, the first
of said publications to appear in said newspaper not more than
thirty (30) days and not less than fourteen (14) full days prior to
the day of the election.
Passed by the City council on first reading this 28th day of
January, 1993.
Passed by the City
February, 1993.
'. \ .
• t I I , f t ~ , I.
' !, J.,. /
" .' .
ATTEST: I \ ·¥~Sbz.Q (Uk :fcity Se tary, City of Lubbock, Texas . ' .• ».
l .I'. i ~.' t . ''.
0063475 -s-
this of
PRECINCT
NUMBER
1/63/93
2/79/80/86/87
88/89/90
3
4
5
6
7
8
.9
10/97
11
12
13
0070176
POLLING
PLACE
EXHIBIT A
Wolfforth Elementary
School
3202 Erskine
Arnett Elementary
School
701 East Queens
Mcwhorter Elementary
School
2711 1st Street
Jackson Elementary
School
201 Vernon
Guadalupe Elementary
School
101 N. Avenue P
Alderson Junior High
School
219 Walnut
Bowie Elementary
School
2902 Chicago
Ramirez Elementary
School
702 Avenue T
Rush Elementary
School
4702 15th Street
Lubbock High School
2004 19th Street
Bayless Elementary
School
2115 58th Streeet
Haynes Elementary
School
3802 60th Street
Smylie Wilson Junior
High School
4402 31st Street
PRESIDING
JUDGE
Edward Oliva
Verdie Harris
Babert Trejo
Lilly Carrillo
Julia Carrillo
ALTERNATE
PRESIDING
JUDGE
David Hester
Jeanette Hulsey
Nary Mendoza
Maria Lucero
Louisa Hurtado
.John P. Cervantes I,uc1J J e Minner
Robert Burbridge June Bills
Martin W. Graves Rachel Lopez
Mark R. Griffin Donna B, Taylor
Jfrnm:f e Sett] er Steven Moncrief
AJice Temple W:fnn:fe Moore
James Bowman Mary Uland
Florine Jones Carol Newsome
14
15
16
17
18
19/82/83
20/84
21
22
23
24
25
26/91
27
28
29
30
40/85
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OVerton Elementary
School
2902 Louisville
Roscoe Wilson Elementary
School
2807 25th
J.T. Hutchinson Junior
High School
3102 Canton
Dupre Elementary School
2008 Avenue '1'
O.L. Slaton Junior
High School
1602 32nd
Sean Elementary School
3001 Avenue N
Ella Iles Elementary
School
2401 Date
Stubbs Elementary School
3516 Toledo
Maedgen Elementary School
4401 Nashville
Monterey High School
3211 47th Street
Wheelock Elementary School
3008 42nd Street
Brown Elementary School
2315 36th Street
Harwell Elementary School
4101 Avenue D
Wester Elementary School
4602 Chicago
Parsons Elementary School
2811 58th Street
Atkins Junior High School
5401 Avenue U ,
Stewart Elementary School
4815 46th Street
Posey Elementary School
1301 Redbud .
-2-
Tommy Jones Doris Bines
Billie Holt Sandra Harper
Marie Johnson Brian Bakeman
Ann Klein Vada Johnson
Margaret Moss Michael Austin
Gladys Br1nk Truett Hannabas
Grover Calvin Oliver Walker
Jn Taylar Danna Wade
Lorine Hall Bill Renfro
Gerald Harris Elizabeth Krebbf
Betty Bradford Shay O'Shea
Diana Chapa Prebble Russell
Jesse Rangel Jim Taylor
Buddy Neugebauer Pat Sanders
Ruth Lauer Mary Nell Stron[
Suzanne Vieregge E.R, McGee
Estella Barron Donna McLamore
Doris Dickens , Annie Stanley
47
48
49/50/95/98
52
53/51/96
54
55/78
58
59
60
61
62
66
67/94
71
72
73
74
0070176
Mackenzie Junior High
School
5402 12th Street
Mikel Hard Mary Putman
Murfee Elementary School
6901 Nashville Drive
Joy Lambert Iris Chetty
Student Union Building
Texas Tech University
Virginia Carl Charlotte Spinks
All Saints Episcopal Johnny Prentice Kirby Scudder
School
3222 103rd Street
Lubbock Christian Theresa Lane Ramona Conard University
5601 19th Street
Honey Elementary School
3615 86th Street Wanda Suter Y1rg:fn1a J.ew:fs
Preston Smith Elementary Fred Troche School
8707 Dover
Fire Station #13 Vance Alderson
5809 Erskine
Hardwick Elementary School Ted Hayes
1420 Chicago
Evans Junior High School Neale Pearson
4211 58th Street
Williams Elementary School Jack Harkins
4812 58th Street
Whiteside Elementary School Jim Blake
7508 Albany
Wayland Baptist University Norma Buchanan
4601 83rd Street
Fire Station #14 To be fi]Jed
2402 96th Street
Broadview Baptist Church Deborah Roddy
1402 H. Frankford
Frenship Northridge Denise Little
Elementary School
6302 11th Place
Frenship Crestview Bill Oglesby
Elementary School
6020 81st Street
Godeke Library Jane Cansino 6601 Quaker Avenue
-3-
Arl;fe Lerra.more
Elaine Cornett·
Betty Snodgrass
Peggy Ainsworth
Mary Parra
Marjorie Reynold~
Helen Menchew
To be f11Jed
Terry Frazier
Alice Carter
Don Castleberry
jgyclyn O'Steen
... ' ,
75
76/92
Cumberland Presbyterian
Church
7702 Indiana Avenue
Reese Elementary School
9421 4th Street
CENTRAL COUNTING STATION: l:a be f:f l l£d
To be filled
To be filled
To be f:f l led
EARLY BALLOT BOARD To be filled
To be filled
0070176
-4-
Bac]ey Saodoer ,I. I. Bonner
'Wanda Brewer Frances 'White
MANAGER
TABULATION SUPERVISOR
PRESIDING JUDGE
ALTERNATE PRESIDING JUDGE
PRESIDING JUDGE
ALTERNATE PRESIDING JUDGE
EL ESTADO DE TEXAS
CONDADO DE LUBBOCK
CIUDAD DE LUBBOCK
AVISO DE ELECCION PARA BONOS
§
§
§
§
§
A LOS RESIDENTES CON DERECHO DE VOTAR
DE LA CIUDAD DE LUBBOCK, TEXAS:
AVISO de que una elecci6n tendr4 lugar en la ciudad de
Lubbock, Texas, el dia 1 de mayo de 1993, de acuerdo con una
ordenanza aprobada por el Concejo Municipal, la cual es parte de
este Aviso para todo objeto pr4ctico y se lee como sigue:
ORDENANZA NO. 9583 -----
UNA ORDENANZA ordenando una elecci6n para bonos a tener
lugar dentro de la ciudad de Lubbock, Texas,
estableciendo medidas para dir igir la elecci6n y
resolviendo otros asuntos incidentes y pertinentes
a dicha elecci6n.
VISTO QUE, el Concejo Municipal de la ciudad de . Lubbock,
Texas, por este medio llega a saber que se debe llevar a cabo una
. elecci6n para determinar s1 se deber4 autorizar a dicho cuerpo
gubernativo a emitir bonos de dicha ciudad por un total y con el
fin identificados mis adelante; ahora, por consiguiente,
ES RESUELTO POR EL CONCEJO MUNICIPAL DE LA CIUDAD DE LUBBOCK,
TEXAS:
SECCION 1: Una elecci6n tendr4 lugar el d1a 1 de mayo de
1993 en la ciudad de Lubbock, Texas, cuya fecha sea no menos que
quince (15) ni mis que noventa (90) dias al partir de la fecha de
la aprobaci6n final de esto y dicha fecha es regular para
elecciones. En dicha elecci6n, se presentar4n las siguientes
medidas:
PROPOSICION NUMERO 1
11 ,se Deberi autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$10,170, ooo para hacer mejoras publicas permanentes y
para prop6sito publico, a saber: construcci6n de mejoras
a calles incluyendo sefiales, iluminaci6n y derecho de
via; dichos bonos a veneer en serie ode otro modo por un
per1odo a no sobrepasar CUARENTA (40) afios a partir de la
0070076
fecha, a ser emitidos en una o m4s series al precio o
precios ya devengar inter6s a la tasa o tasas (fija,
flotante, variable ode otro modo) como sea determinado
a voluntad del concejo Municipal al emitir o vender los
bonos; y si se deber4 recaudar impuestos ad valorem a
todo bien imponible en la ciudad suficientes para pagar
el interes anual y para establecer f ondos de amortizaci6n
para pagar los bonos al veneer?"
fROPOSICION NUMERO 2
"lSe Deber4 autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$2,550,000 para hacer mejoras p'Ciblicas permanentes y para
prop6sito p'Ciblico, a saber: mejorando el aeropuerto
municipal ya en existencia incluyendo calefacci6n,
ventilaci6n, aire acondicionado, tejado y
estacionamiento; dichos bonos a veneer en serie ode otro
modo por un per1odo a no sobrepasar CUARENTA (40) aftos a
partir de la fecha, a ser emitidos en una o m6s series al
precio o precios ya devengar interes a la tasa o tasas
(fija, flotante, variable o de otro modo) como sea
determinado a voluntad del Concejo Municipal al emitir o
vender los bonos; y si se deber4 recaudar impuestos ad
valorem a todo bien imponible en la ciudad suficientes
para pagar el interes anual y para establecer fondos de
amortizaci6n para pagar los bonos al veneer?"
fROPOSICION NUMERO 3
"c.Se Deber4 autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$2,780, ooo para hacer mejoras p'Ciblicas permanentes y para
prop6sito p'Ciblico, a saber: mejorar y equipar las
facilidades de biblioteca en y para dicha Ciudad; dichos
bonos a veneer en serie ode otro modo por un per1odo a
no sobrepasar CUARENTA (40) aftos a partir de la fecha, a
ser emitidos en una o m4s series al precio o precios ya
devengar interes a la tasa o tasas (fija, flotante,
variable ode otro modo) como sea determinado a voluntad
del Concejo Municipal al emitir o vender los bonos; y si
·se deber4 recaudar impuestos ad valorem a todo bien
imponible en la ciudad suficientes para pagar el interes
anual y para establecer fondos de amortizaci6n para pagar
los bonos al veneer?"
-2-
. ,,
0070076
PROPOSICION NUMERO 4
11,se OeberA autorizar al Concejo Municipal de la
ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$5,385,000 para hacer mejoras publicas permanentes y para
prop6sito pt'.iblico, a saber: mejoras a parques incluyendo
parques de vecindad, campo para atletismo y piscina
natatoriz; dichos bonos a veneer en serie ode otro modo
por un periodo a no sobrepasa;r CUARENTA (40) afios a
partir de la fecha, a ser emitidos en una o m!s series al
precio o precios ya devengar interes a la tasa o tasas
(fija, flotante, variable o de otro modo) como sea
determinado a voluntad del Concejo Municipal al emitir o
vender los bonos; y si se deberA recaudar impuestos ad
valorem a todo bien imponible en la ciudad suficientes
para pagar el interes anual y para establecer fondos de
amortizaci6n para pagar los bonos al veneer?"
PROPOSICION NUMERO 5
",se OeberA autorizar al concejo Municipal de la
ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$3,585,000 para hacer mejoras publicas permanentes y para
prop6sito publico, a saber: mejoras al coliseo incluyendo
calefacci6n, ventilaci6n, y aire acondicionado, tejado,
sellar del estadio e iluminaci6n; dichos bonos a veneer
en serie ode otro modo por un perlodo a no sobrepasar
CUARENTA (40) afios a partir de la fecha, a ser emitidos
en una o mAs series al precio o precios y a devengar
interes a la tasa o tasas (fija, flotante, variable ode
otro modo) como sea determinado a voluntad del Concejo
Municipal al e~itir o vender los bonos; y si se deberA
recaudar impuestos ad valorem a todo bien imponible en la
ciudad suficientes para pagar el interes anual y para
establecer f ondos de amortizaci6n para pa gar los bonos al
veneer?"
PROPOSICION NUMERO 6
11 ,se OeberA autorizar al concej o Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$2,000,000 para hacer mejoras publicas permanentes y para
prop6sito pt'.iblico, a saber: mejoras al sistema de
comunicaci6n; dichos bonos a veneer en serie ode otro
modo por un periodo a no sobrepasar CUARENTA (40) afios.a
partir de la fecha, a ser·emitidos en una o m!s series al
precio o precios ya devengar interes a la tasa o tasas
-3-
0070076
(fija, flotante, variable o de otro mode) come sea
determinado a voluntad del Concejo Municipal al emitir o
vender los bones; y si se deberA recaudar impuestos ad
valorem a todo bien imponible en la ciudad suficientes
para pagar el inter~s anual y para establecer fondos de
amortizaci6n para pagar los bones al veneer?"
PROPOSICION NUMERO 7
",se DeberA autorizar al Concejo · Municipal de la
Ciudad de Lubbock, Texas, a emitir bones de obligaci6n
general de la ciudad por la cantidad principal de
$470,000 para hacer mejoras pdblicas permanentes y para
prop6sito pdblico, a saber: mejoras al sistema de
emergencia de control de trAfico del cuerpo de bomberos;
dichos bones a veneer en serie ode otro mode por un
per1odo a no sobrepasar CUARENTA (40) afios a partir de la
fecha, a ser emitidos en una o mAs series al precio o
precios ya devengar inter6s a la tasa o tasas (fija,
flotante, variable ode otro mode) come sea determinado
a voluntad del concejo Municipal al emitir o vender los
bones; y si se deberA recaudar impuestos ad valorem a
todo bien imponible en la ciudad suficientes para pagar
el inter~s anual y para establecer f ondos de amortizaci6n
para pagar los bones al veneer?"
PROPOSICION NUMERO 8
",Se DeberA autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$500,000 para hacer mejoras pdblicas permanentes y para
prop6sito pdblico, a saber: construcci6n y mejoras a las
facilidades de control de animales; dichos bones a veneer
en serie ode otro mode por un per1odo a no sobrepasar
CUARENTA (40) anos a partir de la fecha, a ser emitidos
en una o mAs series al precio o precios ya devengar
inter~s a la tasa o tasas (fija, flotante, variable ode
otro mode) como sea determinado a voluntad del Concejo
Municipal al emitir o vender los bonos; y si se deber6
recaudar impuestos ad valorem a todo bien imponible en la
ciudad suficientes para pagar el inter~s anual y para
establecer fondos de amortizaci6n para pagar los bonos al
.veneer?"
-4-
PROPOSICION NUMERO 9
"lSe Debera. autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$1,415, ooo para hacer mejoras pt1blicas permanentes y para
prop6sito p1'.iblico, a saber: mejoras y extensiones al
sistema de aquas corrientes; dichos bonos a veneer en
serie o de otro modo por un per1odo a no sobrepasar
CUARENTA (40) afios a partir de la fecha, a ser emitidos
en una o mAs series al precio o precios y a devengar
inter6s a la tasa o tasas (fija, flotante, variable ode
otro modo) como sea determinado a voluntad del Concejo
Municipal al emitir o vender los bonos; y si se deberA
recaudar impuestos ad valorem a todo bien imponible en la
ciudad suficientes para pagar el interes anual y para
establecer f ondos de amortizaci6n para pa gar los bonos al
veneer?"
PROPOSICION NUMERO 10
"lSe Debera. autorizar al Concejo Municipal de la
Ciudad de Lubbock, Texas, a emitir bonos de obligaci6n
general de la ciudad por la cantidad principal de
$1,835, ooo para hacer mejoras pdblicas permanentes y para
prop6sito p1'.iblico, a saber: mejoras y extensiones al
sistema sanitario de cloacas de la Ciudad; dichos bonos
a veneer en serie ode otro modo por un per1odo a no
sobrepasar CUARENTA (40) afios a partir de la fecha, a ser
emitidos en una o m!s series al precio o precios ya
devengar interes a la tasa o tasas (fija, flotante,
variable ode otro modo) como sea determinado a voluntad
del Concejo Municipal al emitir o vender los bonos; y si
se debera. recaudar impuestos ad valorem a todo bien
imponible en la ciudad suficientes para pagar el interes
anual y para establecer fondos de amortizaci6n para pagar
los bones al veneer?"
SECCION 2: Se empleara. un sistema electr6nico para votar
en esta elecci6n incluyendo primeros votes. Se preparar!n las
balotas de acuerdo con las estipulaciones aplicables en el Codigo
de Elecciones para que los votantes puedan votar "EN PRO" o "EN
CONTRA" a las dicha medidas que aparecer!n en la balota basicamente
como .sigue:
0070076
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.. ..
0070076
PROPOSICION NUMERO 1
"LA EMISION OE $10,170, 000 EN BONOS DE OBLIGACION GENERAL PARA
MEJORAS Y CALLES INCLUYENDO SENALES, ILUMINACION Y OERECHO OE
VIA NECESARIOS"
PROPOSICION NUMERO 2
"LA EMISION DE $2,550,000 EN BONOS OE OBLIGACION GENERAL PARA
MEJORAS AL AEROPUERTO INCLUYENOO CALEFACCION, VENTILACION, Y
AIRE ACONOICIONAOO, TEJAOO Y ESTACIONAMIENT011
PROPOSICION NUMERO 3
"LA EMISION DE $2,780,000 EN BONOS DE OBLIGACION GENERAL PARA
MEJORAR Y EQUIPAR FACILIDAOES OE BIBLIOTECA11
PROPOSICION NUMERO 4
"LA EMISION DE $5,385,000 EN BONOS OE OBLIGACION GENERAL PARA
MEJORAS A PARQUES INCLUYENOO PARQUES OE VECINOAD, CAMPO PARA
ATLETISMO Y PISCINA NATATORIA"
PROPOSICION NUMERO 5
"LA EMISION OE $3,585,000 EN BONOS OE OBLIGACION GENERAL PARA
MEJORAS AL COLISEO INCLUYENOO CALEFACCION, VENTILACION, Y AIRE
ACONOICIONADO, TEJAOO, SELLAR DEL ESTAOIO Y ILUMINACION"
PROPOSICION NUMERO 6
"LA EMISION DE $2,000,000 EN BONOS OE OBLIGACION GENERAL PARA
MEJORAS AL SISTEMA OE COMUNICACION11
PROPQSICION NUMERO 7
"LA EMISION DE $470,000 EN BONOS OE OBLIGACION GENERAL PARA
MEJORAS AL SISTEMA OE EMERGENCIA OE CONTROL OE TRAFICO DEL
CUERPO OE BOMBEROS"
PROPOSICION NUMERO 8
"LA EMISION OE $500 1 000 EN BONOS OE OBLIGACION GENERAL PARA
FACILIOAOES DE CONTROL OE ANIMALES"
PROPOSICION NUMERO 9
"LA EMISION DE $1,415,000 EN BONOS DE OBLIGACION GENERAL P~
MEJORAS Y EXTENSIONES AL SISTEMA OE AGUAS CORRIENTES"
-6-
PROPOSICION NUMERO 10
"LA EMISION DE $1,835,000 EN BONOS DE OBLIGACION GENERAL PARA
MEJORAS Y EXTENSIONES AL SISTEMA SANITARIO DE CLOACAS"
La Estaci6n Central de Escrutinio para tabular y contar las
balotas para esta elecci6n estar! localizada en EL Palacio de
Justicia del condado de Lubbock, Lubbock, Texas. El Gerente y el
Juez Actuante de la Estaci6n Central de Escrutinio podrAn nombrar
a los escribientes para servir los cargos en dicha estaci6n, como
se estipula en la Secci6n 127.006 del C6digo de Elecciones.
SECCION 3: Se llevar! a cabo esta elecci6n como elecci6n
junta para con el Condado de Lubbock empleando una balota conjunta.
Se dividirA la Ciudad en setenta y cuatro (74) recintos electorales
para esta elecci6n y los lugares para votar de cada lugar para
votar serAn sefialados en la Exhibici6n A afiadida a esto e
incorporada aqu1 dentro por referencia como parte de esto para todo
obj ecto prActico. Se nombrarA y publicar6. de las personas por este
acto nombradas como juez actunate y juez actunate suplente para los
lugares para votary las personas por este medio nombradas a servir
como Gerente, Supervisor de Tabulaci6n, Juez Actuante y Juez
Actuante Suplente en la Estaci6n Central de Escrutinio y Juez
Actuante y Juez Actuante suplente de la Junta de Primeros Votos en
el Aviso de Elecci6n.
Cada juez actuante nombrarA no menos que dos (2) ni mAs que
seis (6) oficiales para trabajar y ayudar en llevar a cabo dicha
elecci6n; con tal que si el. juez actuante particular aqu1 dentro
nombrado desempefie sus funciones, el juez actuante suplente ser6.
uno de los oficiales.
Durante el dia de elecci6n, los lugares para votar estarAn
abiertos desde las 7:00 de la mafiana hasta las 7:00 de la noche.
En esta elecci6n se emplearA el procedimiento de urna
electoral cerrada establecido por Subcap1tulo c, Capitulo 127,
C6digo de Elecciones de Texas.
Se llevarAn a cabo los primeros votos conjuntos de acuerdo con
las estipulaciones del Codigo de Elecciones, en la oficina del
Escribiente condal en 904 Broadway, Lubbock, Texas, cada dia
excepto designados sAbados, domingos y feriados oficiales del
estado durante el periodo requerido por ley para llevar a cabo los
primeros votos. Las horas para echar los primeros votes serAn las
horas regulares de negocio en la oficina del Escribiente Condal que
son de las 8:30 de la mafiana a las 5:00 de la tarde. Los primeros
votes comenzarAn el 12 de abril de 1993, y terminarAn·el 27 de
abril de 1993. ·
0070076
-7-
Adicionalmente, se llevar6.n a cabo los primeros votos, de
acuerdo con las estipulaciones del C6digo de Elecciones, en
sucursales para echar los primeros votos en persona localizados en
la oficina de la Secretaria Municipal, 1625 13th street, Lubbock,
Texas; South Plains Mall, 6002 Slide Road, Lubbock, Texas; y
Alderson Junior High School, 219 Walnut, Lubbock, Texas. Se
nombrarA yse publicarA a los escribientes suplentes a servir el
cargo en dicho sucursal en el Aviso de Elecci6n. Las horas
nombradas para los votes primeros hechos en persona en la oficina
de la Secretaria Municipal serAn desde las 8:30 de la maftana a las
5:00 de la tarde yen South Plains Mall desde las 8:30 de la maftana
hasta las 6:00 de la tarde cada dia excepto designados sAbados,
domingos y requerido por ley para llevar a cabo los primeros votos.
Las horas nombradas para echar los primeros votos en Alderson
Junior High serAn desde las 8:30 de la maftana hasta las 5:00 de la
tarde cada d1a excepto designados sAbados, domingos y feriados
oficiales del Estado.
Todo lugar praa votar estarA abierto para echar votos en
persona el Qltimo sAbado y domingo del periodo para primeros votos
desde las 10:00 de la maftana hasta las 6:00 de la tarde el sabado
y desde la 1:00 de la tarde hasta las 6:00 de la tarde el domingo
Las horas para los primeros votos en todas las localidaes serAn
desde las 8:30 de la maftana hasta las 8:30 de la noche los dos
Qltimos dias del periodo de primeros votos.
SECCION 4: A todos los residentes con derecho de votar de
la ciudad se les permitirA votar en dicha elecci6n y el dia de la
elecci6n, dichos electores votarAn en el lugar para votar nombrados
como recinto electoral en donde tienen su domicilio. Se dirigirA
y se llevara a cabo esta elecci6n de acuerdo con las estipulaciones
en el C6digo de Elecciones, V.T.C.A., y el cap1tulo 1 de Titulo 22,
V.A.T.c.s.; y como sea requerido por ley, se imprimira todo
material y procedimiento electoral para esta elecci6n tanto en
ingl~s como en espaftol.
SECCION 5: Una copia fidedigna de esta ordenanza servira
como aviso adecuado de dicha elecci6n. Se fijarA dicho aviso,
incluyendo una traducci6n al espaftol de esto, en tres (3) lugares
pQblicos dentro de la ciudad yen la Casa Municipal no menos que
catorce (14) dias antes de la fecha establecida para dicha
elecci6n, y se publicarA el mismo dia de dos semanas sucesivas, en
un peri6dico de circulaci6n general en dicha ciudad, se hara ia
primera de dichas publicaciones de esto en dicho peri6dico no mAs
que treinta (30) dias ni menos que catorce (14) d1as antes del d1a
de elecci6n.
0070076 -a-
.
'
ACEPTADA POR el Concejo Munici al primera
de enero de 1993.
ACEPTADA POR el Concej O Muni
de febrero de 1993.
ATESTIGUA:
' ' Secretar
~ubbock, ., .
' ' •,
(Sel~o de la Ciudad)
0070076
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este dia 28
..
EXHIBICION A
JUEZ
RECINTO LUGAR PARA JUEZ ACTUANTE
ELECTORAL VOTAR ACTUANTE SJlPLENIE
1/63/93 Escuela Primaria Edward Oliva David Hester
Wolfforth
3202 Erskine
2/79/80/86/87 Escuela Primaria Xeidi~ Han:ia Jeanette Hulsey 88/89/90 Arnett
701 East Queens •
3 Escuela Primaria Robert Trejo Mary Mendoza
McWhorter
2711 let Street
4 Escuela Primaria Lilly Carrillo Maria Lucero
Jackson
201 Vernon
5 Escuela Primaria
Guadalupe Juli§ CaIIills;i Ls:i:uiaa. H1n:tada
101 N. Avenue P
6 Eecuela Intermedia John P. Cervantes Lucille Minner
Alderson
219 Walnut
7 Escuela Primaria Robert Burbridge June Bills
Bowie
2901 Chicago
8 Escuela Primaria Martin W. Graves Rachel Lopez Ramirez
701 Avenue T
9 Escuela Primaria
Rush Mark E. I Gr:Jff:(n Donna B Taylor
4701 15th Street
10/97 Escuela Secundaria Jimmie Settler Steven Moncrief
Lubbock
2004 19th street
11 Escuela Primaria Alice TemJ:!le Winnie Moore
Bayless
2115 58th Street
12 Escuela Primaria Jam11:a Ila:h!Illan Mary tJJ and · Haynes
3802 60th Street
13 Escuela Intermedia Florine Jones Carol Newsome
Smylie Wilson
4402 31st Street
0070139
..
14 Escuela Primaria Tommy Jones Doris Bines
Overton
2902 Louisville
15 Eecuela Primaria
Roscoe Wilson
Billie Holt Sandra Har2er
2807 25th Street
16 Escuela Intermedia
J.T. Hutchinson Marie Johnson Brian Bakeman
3102 Canton
17 Escuela Primaria Ann Klein Vada John,;on
Dupre
2008 Avenue T
18 Escuela Intermedia Margaret Moss Michael Austin
O.L. Slaton
1602 32nd
19/82/83 Eecuela Primaria Gl,adys Bri,nk Icuett Hannahas Bean
3001 Avenue N
20/84 Escuela Primaria Graver Calvin Q]iver Walker Ella Iles
2401 Date
21 Escuela Primaria Jo Taylor Donna Wade
Stubbs
3516 Toledo
22 Escuela Primaria Lorine Hall Bill Renfro
Maedgen
4401 Nashville
23 Escuela Secundaria
Monterey Ge:tald Ha.rr1s Elizabeth Krebbs
3211 47th street
24 Escuela Primaria Betty Bradford Shay O'Shea
Wheelock
3008 42nd Street
25 Escuela Primaria Diana Cha2a Prebble Russell
Brown
2315 36th Street
26/91 Escuela Primaria Jesse Ransel Jim Taylar Barwell
4101 Avenue D
27 Escuela Primaria Buddy Neugebauer Pat Sanders
Wester
4601 Chicago
28 Escuela Primaria Ruth Lauer Marz Nell Strong
Parsons
2811 58th Street
0070139
-2-
. .
29
30
40/85
47
• f 48
49/50/95/98
52
53/57/96
54
55/78
58 . '
59
60
61
62
0070139
Escuela Intermedla
Atkins
5401 Avenue U
Escuela Primaria
Stewart
4815 46th Street
Escuela Primaria
Posey
1301 Redbud
Escuela Intermedia
Mackenzie
5401 12th Street
Escuela Primaria
Murfee
6901 Nashville Drive
Edificio de Union
Estudiantil
Texas Tech University
Escuela All Saints
Episcopal
3222 103rd Street
Lubbock Christian
University
5601 19th Street
Escuela Primaria
Honey
3615 86th streeete
Escuela Primaria
Preston Smith
8707 Dover
Estaci6n #14 de
Bomberos
5809 Erskine
Escuela Primaria
Hardwick
1420 Chicago
Escuela Intermedia
Evans
4211 58th Street
Escuela Primaria
Williams·
4812 58th Street
Escuela Primaria
Whiteside
7508 Albany
-3-
Suzanne Vieregge E.R. McGee
Estella Barron Donna McLamore
Doris Dickens Annie Stanley
Mikel Ward Mary Putman
Joy Lambert Iris Chetty
Y1rg1n1a Carl Cbarlotte Spinks
Johnny Prentice Kirby Scudder
Theresa Lane Ramona Conard
Wanda Suter Y1 rg1n1a Lewis
Fred Troche Arlie Larramore
Vance Alderson Elaine Cornett
Ted Hayes Betty Snodgrass
Neale Pearson Peggy Ainsworth
Jack Harkins Mary Parra
Jim Blake Marjorie Reynolds
. .
66
67/94
71
72
73
74
75
76/92
ESTACION CENTRAL
DE ESCRUTINIOt
Wayland Baptist Norma Buchanan
University
4601 83rd Street
Estaci6n #14 de Se Jlenara
Bomberos
2402 96th street
Iglesia Bautista Deborah Roddy
Broadview
1402 N. Frankford
Escuela Primaria Denise Little
Frenship Northridge
6302 11th Place
Escuela Primaria Bil] QgJeshf
Frenship Crestview
6020 81st Street
Biblioteca Godeke Jane Cansino
6601 Quaker Avenue
Iglesia Presbiteriana Harley Sandner
Cumberland
7702 Indiana Avenue
Escuela Primaria Wanda Brewer
Reese
9421 4th Street
Se llenara GERENTE
Helen Menchew
Se J]enars
Terry Frazier
Alice Carter
Dan Castleberry
Joyclyn O'Steen
J. J. Bonner
Frances White
Se J l enara SUPERVISOR DE TABULACION
Se llenara JUEZ .ACTUANTE
Se llenara JUEZ ACTUANTE SUPLENTE
JUNTA DE PRIMEROS VOTOS: Se l J eoara JUEZ ACTUANTE
Se llenara JUEZ ACTUANTE SUPLENTE
0070139
-4-
,.
First Reading
April 10, 1993
Second Reading
April 12, 1993
ORDINANCE NO. 9606 ----
AN ORDINANCE AMENDING ORDINANCE NO. 9583 WITH REGARD TO EARLY VOTING
PLACES AND DAYS AND HOURS OF EARLY VOTING FOR THE CITY OF LUBBOCK BOND ELEC-
TION TO BE HELD MAY 1, 1993.
WHEREAS, the C1ty Council deems 1t to be in the best interest of the citizens of the City of Lubbock to provide an additional early voting location
for the May 1, 1993, City Bond Election; NOW THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT Paragraph 6 of Section 3 of City of Lubbock Ordinance
No. 9583 1s amended by adding thereto another sentence, which shall read as
follows:
Further, early voting shall be conducted at the University
Center on the campus of Texas Tech University during the same days
and hours that early voting 1s conducted at the office of the
County Clerk.
SECTION 2. THAT a substantial copy of this Ordinance shall service as
proper notice of this change to early voting locations and said notice,
including a Spanish translation thereof, shall be posted at three (3) public
places within the City and at the City Hall not less than fourteen (14) full
days prior to the date on which said election is to be held, and be published
on the same day in each of two (2) successive weeks in a newspaper of general
circulation in said City, the first of said publications to appear in said
newspaper not more than thirty (30) days and not less than fourteen (14) full
days prior to the day of the election. ~--
Passed by the City Council on first reading th
Passed by the City Council on secon
ATTEST: B~~ Secretary
DGV; js/llONDELEC. ORD
02-Agenda/April 7, 1993
.. .
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
CERTrFrCATE
§
§
§
I, the undersigned, Mayor of the City of Lubbock, Texas,
DO HEREBY CERTIFY that the attached and following is a true and
correct copy of the Supplemental Notice of Bond Election (which
Notice is a substantial copy of the resolution ordering the
Election) -both in English and Spanish -to be used in the
Bond Election to be held within the City of Lubbock on the 1st
day of May, 1993.
TO CERTIFY WHICH, witness my official hand and the seal of
the City of Lubbock, this t e __ .;:i,.,.,.._ April ---------'
1993.
(City Seal)
DGV:Ja/CERTFCAT.DOC
D2-Agenda/April 7, 1993
ID R. LANGSTON, OR
city of Lubbock, Texas
.. .
SUPPLEMENTAL NOTICE OF BOND ELECTION
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
§
§
§
TO THE RESIDENT QUALIFIED ELECTORS OF THE CITY OF WBBOCK. TEXAS:
TAKE NOTICE that an election will be held in the City of
Lubbock, Texas, on the first day of May, 1993, in accordance with
Ordinance No. 9583 adopted by the City Council and in accordance
with Ordinance No. 9606 , which is part of this Notice for all
purposes and reads as follows:
ORDINANCE NO. 9606
AN ORDINANCE AMENDING ORDINANCE NO. 9583 WITH REGARD TO EARLY
VOTING PLACES AND DAYS AND HOURS OF EARLY VOTING FOR THE CITY OF
LUBBOCK BOND ELECTION TO BE HELD MAY 1, 1993.
WHEREAS, the City Council deems it to be in the best interest
of the citizens of the City of Lubbock to provide an additional
early voting location for the May 1, 1993, City Bond Election: NOW
THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT Paragraph 6 of Section 3 of City of Lubbock
Ordinance No. 9583 is amended by adding thereto another sentence,
which shall read as follows:
Further, early voting shall be conducted at the
University Center on the campus of Texas Tech University
during the same days and hours that early voting is con-
ducted at the office of the county Clerk.
SECTION 2. THAT a substantial copy of this Ordinance shall
service as proper notice of this change to early voting locations
and said notice, including a Spanish translation thereof, shall be
posted at three (3) public places within the City and at the City
Hall not less than fourteen ( 14) full days prior to the date on
which said election is to be held, and be published on the same day
.. .
in each of two (2) successive weeks in a newspaper of general cir-
culation in said City, the first of said publications to appear in
said newspaper not more than thirty (30) days and not less than
fourteen (14) full days prior to the day of the election.
Passed by the City Council on
April, 1993.
Passed by the City Council on
April, l.993.
Secretary
Vandiver, First
City Attorney
OOV:Js/SUPPNOTC.DOC
D2•Agenda/Apr1l 7, 1993
SUPPLEMENTAL NOTICE/BOND ELECTION
••• PAGE 2 •••
10th day of
~ j •
ORDENANZA NUM. 9606
UNA ORDENANZA PARA ENMENDAR ORDENANZA NUM. 9583 CON RESPECTO A LOS LUGARES Y LOS DIAS Y LAS HORAS DE LOS VOTOS ADELANTAOOS PARA LA ELECCION DE
BONOS DE LA CIUDAD DE LUBBOCK QUE ACONTESERA EL DIA 1 DE MAYO, 1993.
VISTO QUE, el Concejo Municipal de la Ciudad de Lubbock, Texas,
determ1no el mejor 1nteres de los ciudadanos de la Ciudad de Lubbock para
proveer un sitio adicional para los votos adelantados para la eleccion de
la ciudad de bonos que acontesera el dia 1 de Mayo, 1993; AHORA, POR
CONSIGUIENTE,
SEA ORDENADO POR EL CONCEJO MUNICIPAL DE LA CIUDAD DE LUBBOCK, TEXAS:
SECCION 1: QUE Parrafo 6 de Seccion 3 de Ordenanza Num. 9583 de la
Ciudad de Lubbock sera enmendada para incluir otra frase, que es lo
siguiente:
Ademas, los votos adelantados aconteseran en
el Centro de la Universidad en el campo de Texas
Tech durante los dias y las horas igual a los votos
adelantados que aconteseran en la oficina del
Escribiente Condal.
SECCION 2. QUE una copia substancial de esta ordenanza servira como
aviso adecuado de este cambio a los sitios de los votos adelantados y se
fijara dicho aviso, incluyendo una truduccion al espanol de esto, en tres
(3) lugares publicos dentro de la ciudad yen la Casa Municipal no menos
que catorce (14) dias antes de la fecha establecida para dicha eleccion, y
se publicara el mismo dia de dos semanas sucesivas, en un periodico de circulacion general en dicha ciudad, se hara la primera de dichas
publicaciones de esto en dicho periodico no masque treinta (30) dias ni
menos que catorce (14) dias antes del dia de eleccion.
ACEPTAOA POR el Concejo Municipal primera lectura, este dia 10 de
Abril , 1993.
ACEPTADA POR el
Abril , 1993.
ATESTIGUA:
APROBADA EN CUANTO A FORMA:
~~1&h~'m~ de Abogado de la Ciudad
12 de
. ,, .
CERTIFICAOO
EL ESTAOO DE TEXAS §
CONDADO DE LUBBOCK §
CIUDAD DE LUBBOCK §
YO, abajo firmante, Alcalde de la Ciudad de Lubbock, Texas, POR LO
PRESENT£ CERTIFICO que el documento atado aqui y por lo siguiente es una
copia fiel y correcta de el Aviso Suplementario de la Eleccion de Bonos
(cual Aviso es una copia substancial de la resolucion ordenando la
eleccion} -tanto en Ingles como en Espanol -sera usada en la Eleccion de
Bonos que acontesera dentro d a d de Lubbock el dia 1 de Mayo, 1993.
PARA CERTIFICAR CUAL,
Ciudad de Lubbock, este dia
(Sello de la Ciudad)
AVISO SUPLEMENTARIO DE LA ELECCION PARA BONOS
EL ESTAOO DE TEXAS §
CONDADO DE LUBBOCK §
CIUDAD DE LUBBOCK §
A LOS RESIDENTES CALIFICAOOS PARA VOTAR DE LA CIUDAD DE LUBBOCK, TEXAS:
UN AVISO de que una election acontesera en la Ciudad de Lubbock,
Texas, el dia 1 de Mayo de 1993, de acuerdo con Ordenanza Num. 9583
adoptada por el Concejo Municipal y de acuerdo con Ordenanza Num. 9606, la
cual es parte de este Aviso para todo proposito yes lo siguiente:
ORDENANZA NUM. 9606
UNA ORDENANZA PARA ENMENOAR ORDENANZA NUM. 9583 CON RESPECTO A LOS
LUGARES V LOS DIAS Y LAS HORAS DE LOS VOTOS ADELANTAOOS PARA LA ELECCION DE
BONOS DE LA CIUOAD DE LUBBOCK QUE ACONTESERA EL DIA 1 DE MAYO, 1993.
VISTO QUE, el Concejo Municipal de la Ciudad de Lubbock, Texas,
determino el mejor interes de los ciudadanos de la Ciudad de Lubbock para
proveer un sitio adicional para los votos adelantados para la eleccion de la ciudad de bonos que acontesera el dia 1 de Mayo, 1993; AHORA, POR
CONSIGUIENTE,
SEA ORDENADO POR EL CONCEJO MUNICIPAL DE LA CIUDAD DE LUBBOCK, TEXAS:
SECCION 1: QUE Parrafo 6 de Seccion 3 de Ordenanza Num. 9583 de la
Ciudad de Lubbock sera enmendada para incluir otra frase, que es lo siguiente:
Ademas, los votos adelantados aconteseran en
el Centro de la Universidad en el campo de Texas
Tech durante los dias y las horas igual a los votos
adelantados que aconteseran en la oficina del
Escribiente Condal.
SECCION 2. QUE una copia substancial de esta ordenanza servira corno
aviso adecuado de este cambio a los sitios de los votos adelantados y se
fijara dicho aviso, incluyendo una truduccion al espanol de esto, en tres
(3) lugares publicos dentro de la ciudad yen la Casa Municipal no menos
que catorce (14) dias antes de la fecha establecida para dicha eleccion, y
se publicara el mismo dia de dos semanas sucesivas, en un periodico de
circulacion general en dicha ciudad, se hara la primera de dichas
publicaciones de esto en dicho periodico no masque treinta (30) dias ni
menos que catorce (14) dias antes del dia de eleccion.
ACEPTADA POR el Concejo Municipal primera lectura, este dia 10 de
Abril , 1993.
ACEPTADA POR el Concejo M
Abril , 1993.
ATESTIGUA:
APROBADA EN CUANTO A FORMA:
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS §
§
COUNTY OF LUBBOCK § s
CITY OF LUBBOCK §
I, the undersigned, City Secret~ry of the City of Lubbock,
Texas, DO HEREBY CERTIFY as follows:
1. That on the 13th day of May, 1993, 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:
DAVID R. LANGSTON
MAGGIE TREJO
T.J. PATTERSON
RANDY NEUGEBAUER
M.J. ADERTON
TY COOKE
MAX INCE
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 Ordinance
entitled:
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993"; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the city's sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to· the issuance, sale,
security, payment and delivery of said
Certificates; and providing an effective date.
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
Ordinance, and upon a motion made by Councilmember T • J • Patterson
and seconded by Councilmember Maggie Trejo the Ordinance was
duly passed and adopted by the Council on second and final reading
by the following vote:
_..;..6_ voted "For" __ o__ voted "Against" 0 abstained
76255 . --
• • ;•
all as shown in the official Minutes of the Council for the meeting
held on the aforesaid date.
2. That the attached Ordinance 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, each member of the Council
was given actual notice of time, place and purpose of the meeting
and had actual notice that the matter would be considered; 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 Ordinance, 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 13th day of May, 1993.
C tyc:f-etary
City of Lubbock, Texas
(City Seal)
76255 ·--2----
-
! ;r
RECORD OF PROCEEDINGS
RELATING TO
$14,425,000
COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICA~ OF OBLIGATION
SERIES 1993
DATED MAY 1, 1993
ISSUED BY
CITY OF LUBBOCK
COUNTY OF LUBBOCK
STATE OF TEXAS
Fulbright & Jaworski L.L.P.
2200 Ross Avenue, Suite 2800
Dallas, Texas 75201
C
_I.
-
,,...,_.
-
-
-
TELEPHONE: 214/855•8000
f"ACSIMILE: 214/855•8200
FULBRIGHT & JAWORSKI
L.L.P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2800
DALLAS, TEXAS 75201
JUN 1 0 1993
HOUSTON
WASHINGTON, 0.C.
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
WE HA VE EXAMINED into the legality and validity of the issuance of the "City
of Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993" (the "Certificates"), dated May 1, 1993 (the
"Certificate Date"), in the principal amount of $14,425,000, by the City of Lubbock,
Texas (the "City"), which Certificates are issuable in fully registered form only, in
denominations of $5,000 or any integral multiple thereof (within a maturity), have
stated maturities of February 15, 1996 through February 15, 2015, unless redeemed
prior to maturity, in accordance with the terms stated on the face of the Certificates,
and bear interest on the unpaid principal amount from the date of delivery to the initial
purchasers thereof at the per annum rates stated in the ordinance authorizing the
issuance of the Certificates (the "Ordinance"), such interest being payable on February
15 and August 15 in each year, commencing February 15, 1994, to the registered
owners shown on the registration books of the Paying Agent/Registrar on the Record
Date (stated on the face of the Certificates).
WE HA VE SERVED AS BOND COUNSEL for the City solely to pass upon the
legality and validity of the issuance of the Certificates under the Constitution and laws
of the State of Texas, and with respect to the exclusion of the interest on the
Certificates from gross income for federal income tax purposes and none other. We
have not been requested to investigate or verify, and have not independently
investigated or verified, any records, data or other material relating to the financial
condition or capabilities of the City. Our examinations into the legality and validity of
the Certificates included a review of the applicable and pertinent provisions of the
Constitution and laws of the State of Texas, a transcript of certified proceedings of the
City relating to the authorization and issuance of the Certificates, including the
Ordinance, customary certifications and opinions of officials of the City and other
pertinent showings, and an examination of the Certificate executed and delivered
initially by the City, which we found to be in due form and properly executed.
BASED ON OUR EXAMINATIONS, IT IS OUR OPINION that the Certificates
have been duly authorized by the City in compliance with the Constitution and laws of
the State of Texas now in force, and the Certificates issued in compliance with the
provisions of the Ordinance are valid, legally binding and enforceable obligations of the
City payable from the sources and secured in the manner provided in the Ordinance,
except to the extent that the enforceability thereof may be affected by bankruptcy,
insolvency, reorganization, moratorium, or other similar laws affecting creditors' rights
or the exercise of judicial discretion in accordance with the general principles of equity.
76314
..
Legal Opinion of Fulbright & Jaworski L.L.P.
Page2
RE: City of Lubbock., Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1993
IT IS FURTHER OUR OPINION THAT, assuming continuing compliance after
the date hereof by the City with the provisions of the Ordinance and in reliance upon
representations and certifications of the City made in a certificate of even date herewith
pertaining to the use, expenditure, and investment of the proceeds of the Certificates,
(A) interest on the Certificates for federal income tax purposes (1) will be excludable
from gross income, as defmed in section 61 of the Internal Revenue Code of 1986, as
amended to the date hereof (the "Code"), of the owners thereof pursuant to section 103
of the Code, existing regulations, published rulings, and court decisions thereunder, and
(2) will not be included in computing the alternative minimum taxable income of
individuals or, except as hereinafter described, corporations and (B) the Certificates are
not "private activity bonds" as that term is defined in section 141 of the Code. Interest
on all tax-exempt obligations, such as the Certificates, owned by a corporation will be
included in such corporation's adjusted net book income, for the tax year 1989, or
adjusted current earnings, for tax years beginning after 1989, for purposes of
calculating the alternative minimum taxable income of such corporations, other than
an S corporation, a qualified mutual fund, a real estate mortgage investment conduit
(REMIC), or a real estate investment trust (REIT). A corporation's alternative
minimum taxable income is the basis on which the alternative minimum tax and the
environmental tax imposed by Sections 55 and 59A of the Code, respectively, will be
computed for tax years beginning after December 31, 1986.
WE EXPRESS NO OPINION with respect to any other federal, state, or local
tax consequences under present law or any proposed legislation resulting from the
receipt or accrual of interest on, or the acquisition or disposition of, the Certificates.
Ownership of tax-exempt obligations such as the Certificates may result in collateral
federal tax consequences to, among others, fmancial institutions, life insurance
companies, property and casualty insurance companies, certain foreign corporations
doing business in the United States, S corporations with subchapter C earnings and
profits, individual recipients of Social Security or Railroad Retirement Benefits, and
taxpayers who may be deemed to have incurred or continued indebtedness to purchase
or carry, or who have paid or incurred certain expenses allocable to, tax-exempt
obligations.
76314
·--
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 25th day of March, 1993, 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:
DAVID R. LANGSTON
MAGGIE TREJO
T.J. PATTERSON
~DY NEUGEBAUER
M.J. ADERTON
TY COOKE
MAX INCE
MAYOR
MAYOR PRO TEM
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
all of said persons were present at said meeting, except the
following: None Absent Among other business
considered at said meeting, the attached resolution entitled:
A RESOLUTION by the City Council of the City of Lubbock,
Texas, approving and authorizing publication of
notice of intention to issue 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 made by Councilmember Neugebauer
and seconded by Councilmember Trejo the resolution was
finally passed and adopted by the Council by the following vote:
7 voted "For" 0 voted "Against" __ O_ 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
76357
..
.... · . -, ...
"' .f
and, according to the records of my office, each member of the
Council was given actual notice of time, place and purpose of the
meeting and had actual notice that the matter would be considered;
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 25th day of March,
1993.
Johnson
(City Seal)
76357 -2-
... . ' ...
!
KesoLucion ~o. ~iLJ
March 25, 1993
Item /130
A RESOLUTION by the City Council of the City of Lubbock,
Texas, approving and authorizing publication of
notice of intention to issue 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) the construction of improvements
and extensions to the City's Wastewater Treatment system, to wit:
discharge pipeline to North Fork Double Mountain Fork Brazos River,
renovate and upgrade two existing treatment plants, and convert
existing administration building to a laboratory; and (ii)
professional services rendered in connection therewith; and
WHEREAS, prior to th7 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;
now, therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK,
TEXAS:
Section 1: That 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 $14,480,000 for the purpose of paying
contractual obligations to be incurred for (i) the construction of
improvements and extensions to the City's Wastewater Treatment
System, to wit: discharge pipeline to North Fork Double Mountain
Fork Brazos River, renovate and upgrade two existing treatment
plants, and convert existing administration building to a
laboratory; and (ii) professional services rendered in connection
therewith, such certificates to be payable from ad valorem taxes
and a lien on and a pledge of the net revenues of the City's Sewer
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.
Section 2: That such notice shall be published once a week
for two consecutive weeks in a newspaper having general circulation
in the City of Lubbock, Texas, the date of the first publication of
such notice 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.
76359
PASSED AND APPROVED, this the
ATTEST:
BETTY M. JOHNSON
(SEAL)
76359 -2-
.......... ~ ..
,...
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CITY OF LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of
Lubbock, Texas, will convene at its regular meeting place in the
City Hall of Lubbock, Texas at 9:00 o'clock A.M. on the 22nd day of
April, 1993, and, during such meeting, the City Council will
consider the passage of an ordinance authorizing the issuance of
certificates of obligation in an amount not to exceed FOURTEEN
MILLION FOUR HUNDRED EIGHTY THOUSAND DOLLARS ($14,480,000) for the
purpose of paying contractual obligations to be incurred for (i)
the construction of improvements and extensions to the City's
Wastewater Treatment System, to wit: discharge pipeline to North
Fork Double Mountain Fork Brazos River, renovate and upgrade two
existing treatment plants, and convert existing administration
building to a laboratory; and (ii) professional se.ir-vices ~endered
in connection therewith, such certificates to be payable from ad
valorem taxes and a lien on and pledge of the net revenues derived
from the operation of the City's Sewer System. The Certificates
are to be issued and this notice is given, under and pursuant to
the provisions of V.T.C.A., Local Government Code, subchapter c of
Chapter 271.
City of
76360
,
r, ~
AFFIDAVIT OF PUBLICATION
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
CITY OF LUBBOCK §
BEFORE ME, the undersigned authority, on this day personally
appeared T. J. Auf111, Account Mnnp,l!e.rho, after being by me duly
sworn, deposes and says that (s)he is the Account Mannierof the
Lubbock Avalanche-Journal, which is a newspaper published and
having general circulation in the City of Lubbock, Texas, and that
a true and correct copy of the "NOTICE OF INTENTION TO ISSUE CITY
OF LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION" hereto attached, was
published in said paper on the following dates:
March 28, 1993; and
April 4, 1993
the date of the first publication of said notice being at least
fifteen (15) days prior to the date stated therein for the passage
of the ordinance authorizing the issuance of the certificates of
obligation.
SWORN TO AND SUBSCRIBED
ADrtt , 1993.
(Notary Seal)
PATTI TATE §
• Notary Pullhc. State of 1 eKas §
.,,__ .. ~.,,, My Comm1s~·'Jn Expires 6-30-96 8
~OOCIIOMIOOO~J
76362
Notary Public, State of TJ:._xa~
-----Mx-•,__?_,.._c;.;;:,.,·mission Expires: {a/3of q (p
NOTICE OF INTENTION I , TOISSUl: ,;CITV OF LU·BBOCK, TEXAS, .. C';ERTIF~C,.TE$ OF ~ OBLIGATION
I i: NOTICE IS HEREBY GIVEN itt'::~k~~:~::i:11 :c::!:i~~r I~ , regular meeting place In the City
Hall of Lubbock, Texas at 10:00
o'clock A.M. on the 22nd day of April, 1993, and, during auch meet-ing, the City Cauncll wlll consider
the passolie of an ordinance au• thorlzlng the Issuance of certlfl•
cotes of obligation In an amount
nal to exceed FOURTEEN MIL•
lt,ION FOUR HUNDRED EIGHTY
i Ts~Jeo~cioi\~t~ ~~~~; :CY~
!~!ijJt~~!~
Fork Brazos River, renovate and
. upgrade two exlslln11 treatment
·plants, and convert existing admln• . ::~:rr :,~.:~1 °..~~:t~~:
: dered In connection therewith, auch · certificates lo be payable from ad
, valor'en, taxes and a Hen c,n and
,. pledge of the n91 revenues derived
I from the operation al the City's
•: Sewer Svstem. The Certificates ore
to be Issued ond this notice Is IIV•
1 en, under .and PUl'luant to the pro-
; visions of V. T.C.A .. "Loco! Govern-; ment Code, SubchaPler C of Chap. term;
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 22nd day of April, 1993, 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:
DAVID R. LANGSTON
MAGGIE TREJO
T.J. PATTERSON
RANDY NEUGEBAUER
M.J. ADERTON
TY COOKE
MAX INCE
MAYOR
MAYOR PRO TEM
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
COUNCILMEMBER
all of said persons were present at said meeting, except the
following: Max Ince, Councilmember • Among
other business considered at said meeting, the attached Ordinance
entitled:
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the City's Sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to -the issuance, sale,
security, payment and deli very of said
Certificates; and providing an effective date.
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
Ordinance, and upon a motion made by Councilmember T. J. Patterson
and seconded by Councilmember M. J. Aderton the ordinance was duly
passed and adopted by the Council on first reading by the following
vote:
6 voted "For" 0"' voted "Against" 0 abstained
76255 ---
•
,-.,
all as shown in the official Minutes of the Council for the meeting
held on the aforesaid date.
2. That the attached Ordinance 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, each member of the Council
was given actual notice of time, place and purpose of the meeting
and had actual notice that the matter would be considered; 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 Ordinance, was posted and
given in advance thereof in compliance with the provisions of
Article 6252-17, Section JA, V.A.T.C.S.
IN WITNESS WHEREOF, I have hereunto signed my name officially .
and affixed the seal of said City, this the 22nd day of April,
1993.
City of Lubbock, Texas
(City Seal)···
76255 ·-· -2-. --
,,,,. --,...
,,,.
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 13th day of May, 1993, 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:
DAVID R. LANGSTON
MAGGIE TREJO
T.J. PATTERSON
RANDY NEUGEBAUER
M.J. ADERTON
TY COOKE
MAX INCE
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 Ordinance
entitled:
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993"; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the City's Sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to ·the issuance, sale,
security, payment and delivery of said
Certificates; and providing an effective date.
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
Ordinance, and upon a motion made by Councilmember T • J • Patterson
and seconded by Councilmember Maggie Trejo the Ordinance was
duly passed and adopted by the council on second and final reading
by the following vote:
6 voted "For" ---__ o __ voted "Against" __ o __ abstained
76255 . --
all as shown in the official Minutes of the Council for the meeting
held on the aforesaid date.
2 • That the attached Ordinance 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, each member of the Council
was given actual notice of time, place and purpose of the meeting
and had actual notice that the matter would be considered; 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 Ordinance, 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 13th day of May, 1993.
City of Lubbock, Texas
(City Seal)
76255 ·--2----
ORDINANCE NO. 9613 -----
.l.'1rsc Keaa1.ng
April 22, 1993
Item #29
Second Reading
May 13, 1993
Item IH9
AN ORDINANCE authorizing the issuance of CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993; levying an ad valorem tax upon all taxable
property in the City and pledging the Net Revenues
of the City's Sewer System for the payment of said
Certificates; prescribing the terms and details of
such Certificates and resolving other matters
incident and related to the issuance, sale,
security, payment and delivery of said
Certificates; and providing an effective date.
WHEREAS, notice of the City Council's intention to issue
certificates of obligation in the maximum principal amount of
$14,480,000 for the purpose of paying contractual obligations to be
incurred for (i) the construction of improvements and extensions to
the City's Wastewater Treatment System, to wit: discharge pipeline
to North Fork Double Mountain Fork Brazos River, renovate and
upgrade two existing treatment plants, and convert existing
administration building to a laboratory, and ( ii) professional
services rendered in connection therewith, has been duly published
in the Lubbock Avalanche-Journal, a newspaper hereby found and
determined to be of general circulation in the City of Lubbock,
Texas, on March 28, 1993 and April 4, 1993, the date of the first
publication of such notice being not less than fifteen (15) days
prior to the tentative date stated therein for the passage of the
ordinance authorizing the issuance of such certificates; and
WHEREAS, no petition, protesting the issuance of such
certificates and bearing valid petition signatures of at least 5%
of the qualified voters of the City, has been filed with the City
Secretary, any member of the Council or any other official of the
City on or prior to the date of the passage of this ordinance; and
WHEREAS, the Council hereby finds and determines that
$14,425,000 of the certificates of obligation described in such
notice should be issued and sold at this time; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1: Authorization-Designation-Principal Amount-
Purpose. Certificates of obligation of the City shall be and are
hereby authorized to be issued in the aggregate principal amount of
$14,425,000 to be designated and bear the title "CITY OF LUBBOCK,
TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1993" (the "Certificates"), for
the purpose of paying contractual obligations to be incurred for
(i) the construction of improvements and extensions to the city's
,.... Wastewater Treatment System, to wit: discharge pipeline to North
Fork Double Mountain Fork Brazos River, renovate and upgrade two
76232
,,..,
existing treatment plants, and convert existing administration
building to a laboratory, and (ii) professional services rendered
in connection therewith, pursuant to authority conferred by and in
conformity with the Constitution and laws of the State of Texas,
including V.T.C.A., Local Government Code, Subchapter c of Chapter
271.
SECTION 2: Fully Registered Obligations -Authorized
Denominations-Stated Maturities-Date. The certificates are
issuable in fully registered form only; shall be dated May 1, 1993
(the "Certificate Date") and shall be in denominations of $5,000
or any integral multiple thereof and the Certificates shall become
due and payable on February 15 in each of the years and in
principal amounts (the "Stated Maturities") and bear interest at
the per annum rate(s) in accordance with the following schedule:
Year of Principal Interest
Stated Maturity Amount Rate
1996 $ 720,000 2.65%
1997 720,000 3.00%
1998 720,000 3.20%
1999 720,000 3.40%
2000 725,000 3.55%
2001 725,000 3.70%
2002 725,000 3.85%
2003 725,000 3.95%
2004 725,000 4.05%
2005 725,000 4.15%
2006 725,000 4.20%
2007 725,000 4.25%
2008 725,000 4.30%
2009 725,000 4.35%
2010 725,000 4.40%
2011 725,000 4.45%
2012 670,000 4.50%
2013 725,000 4.50%
2014 725,000 4.50%
2015 725,000 4.50%
The Certificates shall bear interest on the unpaid principal
amount thereof from the date of delivery to the initial purchasers
thereof (which date shall be the registration date noted on the
Initial certificates. -in the "Registration Certificate of Paying
Agent/Registrar" to appear thereon) at the per annum rate shown
above in this Section, and such interest shall be calculated on
the basis of a 360-day year of twelve 30-day months. Interest on
the Certificates shall be payable on February 15 and August 15 in
each year, commencing February 15, 1994.
SECTION 3:
principal of,
76232
Terms of Payment-Paying Agent/Registrar. The
premium, if any, and the interest on the
-2-
-
,,,,.,
Certificates, due and payable by reason of maturity or redemption
or otherwise, shall be payable only to the registered owners or
holders of the Certificates (hereinafter called the "Holders")
appearing on the registration and transfer books (the "Security
Register") maintained by the Paying Agent/Registrar and the
payment thereof shall be in any coin or currency of the United
States of America, which at the time of payment is legal tender
for the payment of public and private debts, and shall be without
exchange or collection charges to the Holders.
Interest on each Certificate issued and delivered to a Holder
shall accrue from the iatest interest payment date that interest
on such Certificate (or its Predecessor Certificate) has been paid
that precedes the registration date appearing on such Certificate
in the "Registration Certificate of Paying Agent/Registrar"
( Section 8D hereof) , unless the registration date appearing
thereon is an interest payment date for which interest is being
paid, in which case interest on such Certificate shall accrue from
the registration date appearing thereon and provided further that
with respect to the initial payment of interest on a Certificate,
such interest shall accrue from the date of delivery of the
Certificates (or its Predecessor Certificate) to the initial
purchasers thereof.
The selection and appointment of Ameritrust Texas National
Association to serve as Paying Agent/Registrar for the
Certificates is hereby approved and confirmed and the City agrees
and covenants to be kept and maintained at the principal office of
the Paying Agent/Registrar books and records for the registration,
payment and transfer of the Certificates (the "Security
Register"), all as provided herein, in accordance with the terms
and provisions of a "Paying Agent/Registrar Agreement"
substantially in the form attached hereto as Exhibit A and such
reasonable rules and regulations as the Paying Agent/Registrar and
City may prescribe; and the Mayor and City Secretary are
authorized to execute and deliver such Agreement in connection
with the delivery of the Certificates. The City covenants to
maintain and provide a Paying Agent/Registrar at all times until
the Certificates are paid and discharged, and any successor Paying
Agent/Registrar shall be a bank, trust company, financial
institution or other entity qualified and authorized to serve in
such capacity and perform the duties and services of Paying
Agent/Registrar. Upon any change in the Paying Agent/Registrar
for the Certificates, the City agrees to promptly cause a written
notice thereof to be sent to each Holder by United States Mail,
first class postage prepaid, which notice shall also give the
address of the new Paying Agent/Registrar.
Principal of and premium, if any, on the Certificates shall be
payable at the Stated Maturities or the redemption thereof only
upon presentation and surrender of the Certificates to the Paying
Agent/Registrar at its principal office in Austin, Texas (the
76232 -3-
"Designated Payment/Transfer Office" of the Paying Agent/
Registrar). Interest on the Certificates shall be paid by the
Paying Agent/Registrar to the Holders whose name appears in the
Security Register at the close of business on the Record Date (the
last business day of the month next preceding each interest
payment date) and payment of such interest shall be (i) by check
sent United States Mail, first class postage prepaid, to the
address of the Holder recorded in the Security Register or (ii) by
such other method, acceptable to the Paying Agent/Registrar,
requested by, and at the risk and expense of, the Holder. If the
date for the payment of the principal of or interest on the
Certificates shall be 'a Saturday, Sunday, a legal holiday, or a
day when banking institutions in the city where the Paying
Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next
succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close;
and payment on such date shall have the same force and effect as
if made on the original date payment was due.
In the event of a nonpayment of interest on a scheduled
payment date, and for thirty (JO) days thereafter, a new record
date for such interest payment (a "Special Record Date") will be
established by the Paying Agent/Registrar, if and when funds for
the payment of such interest have been received from the City.
Notice of the Special Record Date and of the scheduled payment
date of the past due interest (which shall be 15 days after the
Special Record Date) shall be sent at least five (5) business days
prior to the Special Record Date by United states Mail, first
class postage prepaid, to the address of each Holder appearing on
the Security Register at the close of business on the last
business next preceding the date of mailing of such notice.
SECTION 4: Redemption. (a) Optional Redemption. The
Certificates having Stated Maturities on and after February 15,
2006, shall be subject to redemption prior to maturity, at the
option of the City, in whole or in part, and, if in part, in
inverse annual maturity, in principal amounts of $5,000 or any
integral multiple thereof (and if within a Stated Maturity by lot
by the Paying Agent/Registrar), on February 15, 2005, or on any
date thereafter at the redemption price of par plus accrued
interest to the date of redemption.
(b) Exercise of Redemption Option. At least forty-five (45)
,.,, days prior to a redemption date for the Certificates (unless a
shorter notification period shall be satisfactory to the Paying
Agent/Registrar), the City shall notify the Paying Agent/Registrar
of the decision to redeem Certificates, the principal amount of
each Stated Maturity to be redeemed, and the date of redemption
therefor. The decision of the City to exercise the right to
redeem Certificates shall be entered in the minutes of the
governing body of the City.
76232 -4-
(c) Selection of Certificates for Redemption. If less than
all Outstanding Certificates of the same Stated Maturity are to be
,-.. redeemed on a redemption date, the Paying Agent/Registrar shall
treat such Certificates as representing the number of Certificates
Outstanding which is obtained by dividing the principal amount of
such Certificates by $5,000 and shall select the Certificates, or
principal amount thereof, to be redeemed within such Stated
Maturity by lot.
(d) Notice of Redemption. Not less than thirty (30) days
prior to a redemption date for the Certificates, a notice of
redemption shall be sent by United States Mail, first class
postage prepaid, in -the name of the City and at the City's
expense, to each Holder of a Certificate to be redeemed in whole
or in part at the address of the Holder appearing on the Security
Register at the close of business on the business day next
preceding the date of mailing such notice, and any notice of
redemption so mailed shall be conclusively presumed to have been
duly given irrespective of whether received by the Holder.
All notices of redemption shall (i) specify the date of
redemption for the Certificates, (ii) identify the Certificates to
be redeemed and, in the case of a portion of the principal amount
to be redeemed, the principal amount thereof to be
redeemed, (iii) state the redemption price, (iv) state that the
Certificates, or the portion of the principal amount thereof to be
redeemed, shall become due and payable on the redemption date
specified, and the interest thereon, or on the portion of the
principal amount thereof to be redeemed, shall cease to accrue
from and after the redemption date, and (v) specify that payment
of the redemption price for the Certificates, or the principal
amount thereof to be redeemed, shall be made at the Designated
Payment/Transfer Office of the Paying Agent/Registrar only upon
presentation and surrender thereof by the Holder. If a
Certificate is subject by its terms to prior redemption and has
been called for redemption and notice of redemption thereof has
been duly given as hereinabove provided, such Certificate (or the
principal amount thereof to be redeemed) shall become due and
payable and interest thereon shall cease to accrue from and after
the redemption date therefor; provided moneys sufficient for the
payment of such Certificate (or of the principal amount thereof to
be redeemed) at the then applicable redemption price are held for
the purpose of such payment by the Paying Agent/Registrar.
SECTION 5: Registration Transfer -Exchanae of
Certificates-Predecessor Certificates. A Security Register
relating to the registration, payment, and transfer or exchange of
the Certificates shall at all times be kept and maintained by the
City at the Designated Payment/Transfer Office of the Paying
Agent/Registrar, as provided herein and in accordance with the
provisions of an agreement with the Paying Agent/Registrar and
such rules and regulations as the Paying Agent/Registrar and the
76232 -5-
,,..
City may prescribe. The Paying Agent/Registrar shall obtain,
record, and maintain in the Security Register the name and address
of each and every owner of the Certificates issued under and
pursuant to the provisions of this Ordinance, or if appropriate,
the nominee thereof. Any Certificate may be transferred or
exchanged for Certificates of other authorized denominations by
the Holder, in person or by his duly authorized agent, upon
surrender of such Certificate to the Paying Agent/Registrar for
cancellation, accompanied by a written instrument of transfer or
request for exchange duly executed by the Holder or by his duly
authorized agent, ip. form satisfactory to the Paying
Agent/Registrar.
Upon surrender of any Certificate for transfer at the
Designated Payment/Transfer Office of the Paying Agent/Registrar,
the Paying Agent/Registrar shall register and deliver, in the name
of the designated transferee or transferees, one or more new
Certificates of authorized denominations and having the same
Stated Maturity and of a like aggregate principal amount as the
Certificate or Certificates surrendered for transfer.
At the option of the Holder, certificates may be exchanged for
other Certificates of authorized denominations and having the same
Stated Maturity, bearing the same rate of interest and of like
aggregate principal amount as the Certificates surrendered for
exchange, upon surrender of the Certificates to be exchanged at
the Designated Payment/Transfer Office of the Paying
Agent/Registrar. Whenever any Certificates are surrendered for
exchange, the Paying Agent/Registrar shall register and deliver
new Certificates to the Holder requesting the exchange.
All Certificates issued in any transfer or exchange of
Certificates shall be delivered to the Holders at the Designated
Payment/Transfer Office of the Paying Agent/Registrar or sent by
United States Mail, first class, postage prepaid to the Holders,
and, upon the registration and delivery thereof, the same shall be
the valid obligations of the City, evidencing the same obligation
to pay, and entitled to the same benefits under this Ordinance, as
the Certificates surrendered in such transfer or exchange.
All transfers or exchanges of Certificates pursuant to this
Section shall be made without expense or service charge to the
Holder, except as otherwise herein provided, and except that the
.Paying Agent/Registrar shall require payment by the Holder
requesting such transfer or exchange of any tax or other
governmental charges required to be paid with respect to such
transfer or exchange.
Certificates cancelled by reason of an exchange or transfer
pursuant to the provisions hereof are hereby defined to be
"Predecessor Certificates," evidencing all or a portion, as the
case may be, of the same obligation to pay evidenced by the new
76232 -6-
,..
. -..
Certificate or Certificates registered and delivered in the
exchange or transfer therefor. Additionally, the term
"Predecessor Certificates" shall include any mutilated, lost,
destroyed, or stolen Certificate for which a replacement
Certificate has been issued, registered and delivered in lieu
thereof pursuant to the provisions of Section 28 hereof and such
new replacement Certificate shall be deemed to evidence the same
obligation as the mutilated, lost, destroyed, or stolen
Certificate.
Neither the City nor the Paying Agent/Registrar shall be
required to issue or transfer to an assignee of a Holder any
Certificate called for redemption, in whole or in part, within 45
days of the date fixed for the redemption of such Certificate;
provided, however, such limitation on transferability shall not be
applicable to an exchange by the Holder of the unredeemed balance
of a Certificate called for redemption in part.
SECTION 6: Execution -Registration. The Certificates
shall be executed on behalf of the City by the Mayor under its
seal reproduced or impressed thereon and countersigned by the City
Secretary. The signature of said officers on the Certificates may
be manual or facsimile. Certificates bearing the manual or
facsimile signatures of individuals who are or were the proper
officers of the City on the Certificate Date shall be deemed to be
duly executed on behalf of the City, notwithstanding that one or
more of the individuals executing the same shall cease to be such
officer at the time of delivery of the Certificates to the initial
purchaser(s) and with respect to Certificates delivered in
subsequent exchanges and transfers, all as authorized and provided
in the Bond Procedures Act of 1981, as amended.
No Certificate shall be entitled to any right or benefit under
this Ordinance, or be valid or obligatory for any purpose, unless
there appears on such Certificate either a certificate of
registration substantially in the form provided in Section sc,
manually executed by the Comptroller of Public Accounts of the
State of Texas, or his duly authorized agent, or a certificate of
registration substantially in the form provided in Section so,
manually executed by an authorized officer, employee or
representative of the Paying Agent/Registrar, and either such
certificate duly signed upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly certified, registered and delivered •
SECTION 7: Initial Certificates. The Certificates herein
authorized shall be initially issued as a single fully registered
certificate in the total principal amount of $14,425,000 with
principal installments to become due and payable as provided in
Section 2 hereof and numbered T-1. The Initial Certificate shall
be the Certificate submitted to the Office of the Attorney General
of the state of Texas for approval, certified and registered by
76232 -7-
-
the Office of the Comptroller of Public Accounts of the State of
Texas and delivered to the initial purchaser(s). Any time after
the delivery of the Initial Certificate, the Paying
Agent/Registrar, pursuant to written instructions from the initial
purchaser(s), or the designee thereof, shall cancel the Initial
Certificate delivered hereunder and exchange therefor definitive
Certificates of authorized denominations, Stated Maturities,
principal amounts and bearing applicable interest rates for
transfer and deli very to the Holders named at the addresses
identified therefor; all pursuant to and in accordance with such
written instructions ,from the initial purchaser(s), or the
designee thereof, and such other information and documentation as
the Paying Agent/Registrar may reasonably require.
SECTION 8: Forms. A. Forms Generally. The Certificates,
the Registration Certificate of the Comptroller of Public Accounts
of the State of Texas, the Registration Certificate of Paying
Agent/Registrar, and the form of Assignment to be printed on each
of the Certificates, shall be substantially in the forms set forth
in this Section with such appropriate insertions, omissions,
substitutions, and other variations as are permitted or required
by this Ordinance and may have such letters, numbers, or other
marks of identification ( including identifying numbers and letters
of the Committee on Uniform Securities Identification Procedures
of the American Bankers Association) and such legends and
endorsements (including insurance legends in the event the
Certificates, or any maturities thereof, are purchased with
insurance and any reproduction of an opinion of counsel) thereon
as may, consistently herewith, be established by the City or
determined by the officers executing such Certificates as
evidenced by their execution. Any portion of the text of any
Certificates may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the Certificate.
The definitive Certificates shall be printed, lithographed, or
engraved or produced in any other similar manner, all as
determined by the officers executing such Certificates as
evidenced by their execution, but the Initial Certificate(s)
submitted to the Attorney General of Texas may be typewritten or
photocopied or otherwise reproduced.
76232 -a-
B. Form of Certificates.
REGISTERED
NO.
Certificate
Date:
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF LUBBOCK, TEXAS,
COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE
CERTIFICATE OF OBLIGATION
. SERIES 1993
Interest Rate: Stated Maturity:
Registered Owner:
Principal Amount:
REGISTERED $ ____ _
CUSIP NO:
DOLLARS
The City of Lubbock (hereinafter referred to as the "City"),
a body corporate and municipal corporation in the county of
Lubbock, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered Owner
named above, or the registered assigns thereof, the Principal
Amount stated above, on the Stated Maturity date specified above
(or so much thereof as shall not have been paid upon prior
redemption) and to pay interest on the unpaid Principal Amount
hereof (computed on the basis of a 360-day year of twelve 30-day
months) from the interest payment date next preceding the
"Registration Date" of this Certificate appearing below (unless
this Certificate bears a "Registration Date" as of an interest
payment date, in which case interest shall accrue from such date,
or unless the Registration Date of this Certificate is the
delivery date of this Certificate (or its Predecessor Certificate)
to the initial purchasers, in which case interest shall accrue
from such date of delivery to the initial purchasers at the per
,.. annum rate of interest specified above; such interest being
payable on February 15 and August 15 of each year, commencing
February 15, 1994. Principal of this Certificate is payable at
its Stated Maturity or redemption to the registered owner hereof,
upon presentation and surrender, at the Designated
Payment/Transfer Office of the Paying Agent/Registrar executing
the registration certificate appearing hereon, or its successor.
Interest is payable to the registered owner of this certificate
(or one or more Predecessor Certificates, as defined in the
Ordinance hereinafter referenced) whose name appears on the
"Security Register" maintained by the Paying Agent/Registrar at
the close of business on the "Record Date", which is the last
business day of the month next preceding each interest payment
date and interest shall be paid by the Paying Agent/Registrar by
76232 -9-
check sent United States Mail, first class postage prepaid, to the
address of the registered owner recorded in the Security Register
on the Record Date or by such other method, acceptable to the
Paying Agent/Registrar, requested by, and at the risk and expense
of, the registered owner. If the date for the payment of the
principal of or interest on the Certificates shall be a Saturday,
Sunday, a legal holiday, or a day when banking institutions in the
city where the Paying Agent/Registrar is located are authorized by
law or executive order to close, then the date for such payment
shall be the next succeeding day which is not such a Saturday,
Sunday, legal holiday, or day when banking institutions are
authorized to close; and payment on such date shall have the same
force and effect as if made on the original date payment was due.
All payments of principal of, premium, if any, and interest on
this Certificate shall be without exchange or collection charges
to the owner hereof and in any coin or currency of the United
states of America which at the time of payment is legal tender for
the payment of public and private debts.
This certificate is one of the series specified in its title
issued in the aggregate principal amount of $14,425,000 (herein
referred to as the "Certificates") for the purpose of paying
contractual obligations to be incurred for (i) the construction of
improvements and extensions to the City's Wastewater Treatment
System, to wit: discharge pipeline to North Fork Double Mountain
Fork Brazos River, renovate and upgrade two existing treatment
plants, and convert existing administration building to a
laboratory, and (ii) professional services rendered in connection
therewith, under and in strict conformity with the Constitution
and laws of the state of Texas, particularly V .T.C.A., Local
Government Code, subchapter C of Chapter 271, and pursuant to an
Ordinance adopted by the governing body of the City (herein
referred to as the "Ordinance").
The Certificates maturing on and after February 15, 2006, may
be redeemed prior to their Stated Maturities, at the option of the
City, in whole or in part, and, if in part, in inverse annual
maturity, in principal amounts of $5,000 or any integral multiple
thereof (and if within a Stated Maturity by lot by the Paying
Agent/Registrar), on February 15, 2005, or on any date thereafter,
at the redemption price of par, together with accrued interest to
the date of redemption and upon 30 days prior written notice being
sent by United States Mail, first class postage prepaid, to the
registered owners of the Certificates to be redeemed, and subject
to the terms and provisions relating thereto contained in the
Ordinance. If this certificate (or any portion of the principal
sum hereof) shall have been duly called for redemption and notice
of such redemption duly given, then upon such redemption date this
Certificate (or the portion of the principal sum hereof to be
redeemed) shall become due and payable, and interest thereon shall
cease to accrue from and after the redemption date therefor,
provided moneys for the payment of the redemption price and the
76232 -10-
interest on the principal amount to be redeemed to the date of
redemption are held for the purpose of such payment by the Paying
Agent/Registrar.
In the event of a partial redemption of the principal amount
of this Certificate, payment of the redemption price of such
principal amount shall be made to the registered owner only upon
presentation and surrender of this Certificate to the Paying
Agent/Registrar at the Designated Payment/Transfer Office and
there shall be issued, without charge therefor to the registered
owner hereof, a new Certificate or Certificates of like maturity
and interest rate in any authorized denominations provided by the
Ordinance for the then unredeemed balance of the principal sum
hereof. If this Certificate is selected for redemption, in whole
or in part, the City and the Paying Agent/Registrar shall not be
required to transfer this Certificate to an assignee of the
registered owner within 45 days of the redemption date therefor;
provided, however, such limitation on transferability shall not be
applicable to an exchange by the registered owner of the
unredeemed balance hereof in the event of its redemption in part.
The Certificates are payable from the proceeds of an ad
valorem tax levied, within the limitations prescribed by law, upon
all taxable property in the City and, together with the Previously
Issued Obligations (as defined in the Ordinance), are additionally
payable from and secured by a lien on and pledge of the Net
Revenues (as defined in the Ordinance) of the city's Sewer System
(the "System"), such lien and pledge, however, being junior and
subordinate to the lien on and pledge of the Net Revenues of the
System securing the payment of "Prior Lien Obligations" (as
defined in the Ordinance) hereafter issued by the city. In the
Ordinance, the City reserves and retains the right to issue Prior
Lien Obligations while the Certificates are outstanding without
limitation as to principal amount but subject to any terms,
conditions or restrictions as may be applicable thereto under law
or otherwise, as well as the right to issue Additional Obligations
(as defined in the Ordinance).
Reference is hereby made to the Ordinance, a copy of which is
on file in the Designated Payment/Transfer Office of the Paying
Agent/Registrar, and to all the provisions of which the Holder
hereof by the acceptance hereof hereby assents, for definitions of
terms; the description of and the nature and extent of the tax
levied for the payment of the Certificates; the properties
constituting the System; the Net Revenues pledged to the payment
of the principal of and interest on the Certificates; the nature
and extent and manner of enforcement of the pledge; the terms and
conditions relating to the transfer of this Certificate; the
conditions upon which the Ordinance may be amended or supplemented
with or without the consent of the Holders of the Certificates;
the rights, duties, and obligations of the City and the Paying
Agent/Registrar; the terms and provisions upon which the tax levy
76232 -11-
and the liens, pledges, charges and covenants made therein may be
discharged at or prior to the maturity of this Certificate, and
this Certificate deemed to be no longer outstanding thereunder;
and for the other terms and provisions contained therein.
Capitalized terms used herein have the meanings assigned in the
Ordinance.
This Certificate, subject to certain limitations contained in
the Ordinance, may be transferred on the Security Register only
upon its presentation and surrender at the Designated
Payment/Transfer Office of the Paying Agent/Registrar, with the
Assignment hereon duly· endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Paying
Agent/Registrar duly executed by, the registered owner hereof, or
his duly authorized agent. When a transfer on the Security
Register occurs, one or more fully registered Certificates of
authorized denominations and of the same aggregate principal
amount will be issued by the Paying Agent/Registrar to the
designated transferee or transferees.
The City and the Paying Agent/Registrar, and any agent of
either, may treat the registered owner hereof whose name appears
on the Security Register (i) on the Record Date as the owner
entitled to payment of interest hereon, (ii) on the date of
surrender of this Certificate as the owner entitled to payment of
principal hereof at its Stated Maturity or its redemption, in
whole or in part, and (iii) on any other date as the owner for all
other purposes, and neither the City nor the Paying
Agent/Registrar, or any agent of either, shall be affected by
notice to the contrary. In the event of nonpayment of interest
on a scheduled payment date and for thirty (30) days thereafter,
a new record date for such interest payment (a "Special Record
Date") will be established by the Paying Agent/Registrar, if and
when funds for the payment of such interest have been received
from the City. Notice of the Special Record Date and of the
scheduled payment date of the past due interest (which shall be 15
days after the Special Record Date) shall be sent at least five
(5) business days prior to the Special Record Date by United
States Mail, first class postage prepaid, to the address of each
Holder appearing on the Security Register at the close of business
on the last business day next preceding the date of mailing of
such notice.
It is hereby certified, recited, represented and covenanted
that the City is a body corporate and political subdivision duly
organized and legally existing under and by virtue of the
Constitution and laws of the State of Texas; that the issuance of
the Certificates is duly authorized by law; that all acts,
conditions and things required to exist and be done precedent to
and in the issuance of the ·Certificates to render the same lawful
and valid obligations of the City have been properly done, have
happened and have been performed in regular and due time, form and
76232 -12-
,,...
manner as required by the Constitution and laws of the State of
Texas, and the Ordinance; that the Certificates do not exceed any
constitutional or statutory limitation; and that due provision has
been made for the payment of the principal of and interest on the
Certificates by the levy of a tax and a pledge of the Net Revenues
of the System as aforestated. In case any provision in this
Certificate or any application thereof shall be invalid, illegal,
or unenforceable, the validity, legality, and enforceability of
the remaining provisions and applications shall not in any way be
affected or impaired thereby. The terms and provisions of this
Certificate and the Ordinance shall be construed in accordance
with and shall be governed by the laws of the state of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused
this Certificate to be duly executed under the official seal of
the city as of the Certif' ate Da
(SEAL)
c. * Form of Registration Certificate of Comptroller of
Public Accounts to Appear on Initial Certificate(s} only.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER
OF PUBLIC ACCOUNTS
THE STATE OF TEXAS
§
§
§
§
REGISTER NO.
I HEREBY CERTIFY that this Certificate has been examined,
certified as to validity and approved by the Attorney General of
the State of Texas, and duly registered by the Comptroller of
Public Accounts of the state of Texas.
WITNESS my signature and seal of office this ______ _
Comptroller of Public Accounts
(SEAL} of the State of Texas
*NOTE TO PRINTER: Do not print on definitive Certificates
76232 -13-
D. Form of Certificate of Paying Agent/Registrar to Appear
on definitive Certificates.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Certificate has been duly issued and registered under
the provisions of the within-mentioned Ordinance; the certificate
or certificates of the above entitled and designated series
originally delivered having been approved by the Attorney General
of the State of Texas and registered by the Comptroller of Public
Accounts, as shown by the records of the Paying Agent/Registrar.
The principal off ices of the Paying Agent/Registrar in
Austin, Texas, is the "Designated Payment/Transfer Office" for
this Certificate.
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Registration Date:
By-----------------Authorized Signature
E. Form of Assignment.
,... ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns, and
transfers unto (Print or typewrite name, address, and zip code of
transferee: ) .................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Social Security or other identifying number: •••.•••••••••••••• )
the within Certificate and all rights thereunder, and hereby
irrevocably constitutes and appoints ••••••••.••••••••••••••••••••
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
attorney to transfer the within Certificate on the books kept for
registration thereof, with full power of substitution in the
premises.
DATED:
Signature guaranteed:
76232
NOTICE: The signature on this
assignment must correspond with the
name of the registered owner as it
appears on the face of the within
Certificate in every particular.
-14-
F. The Initial Certificates shall be in the form set forth
in paragraph B of this Section. except that the form of the
fully registered Initial Certificates shall be modified
as follows:
(i) immediately under the name of the certificate the
headings "Interest Rate "and "Stated
Maturity -------------" shall both be omitted;
(ii) paragraph one shall read as follows:
Registered Owner:
Principal Amount: Dollars
The city of Lubbock (hereinafter referred to as the "City"),
a body corporate and municipal corporation in the County of
Lubbock, State of Texas, for value received, acknowledges itself
indebted to and hereby promises to pay to the Registered Owner
named above, or the registered assigns thereof, the Principal
Amount hereinabove stated, on February 15 in each of the years and
in principal installments in accordance with the following
schedule:
PRINCIPAL
INSTALLMENTS
(Information to be inserted from
Section 2 hereof).
INTEREST
RATE
(or so much principal thereof as shall not have been prepaid prior
to maturity) and to pay interest on the unpaid Principal Amount
hereof computed on the basis of a 360-day year of twelve 30-day
months at the per annum rates of interest specified above; such
interest to accrue on such principal installment amounts when and
as such amounts, or portions thereof, are advanced to the City by
the initial purchasers and to be payable on February 15 and
August 15 of each year, commencing February 15, 1994. Principal
installments of this Certificate are payable in the year of
maturity or on a prepayment date to the registered owner hereof,
upon its presentation and surrender at Ameritrust Texas National
Association (the "Paying Agent/Registrar") at its principal office
in Austin, Texas (the "Designated Payment/ Transfer Office" of the
Paying Agent/Registrar). Interest is payable to the registered
owner of this Certificate whose name appears on the "Security
Register" maintained by the Paying Agent/Registrar at the close of
business on the "Record Date", which is the last business day of
the month next preceding each interest payment date hereof and
interest shall be paid by the Paying Agent/Registrar by check sent
,,.... United States Mail, first class postage prepaid, to the address of
the registered owner recorded in the Security Register or by such
76232 -15-
,,..
other method, acceptable to the Paying Agent/ Registrar, requested
by, and at the risk and expense of, the registered owner. If the
date for the payment of the principal of or interest on the
Certificates shall be a Saturday, Sunday, a legal holiday, or a
day when banking institutions in the city where the Paying
Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next
succeeding day which is not such a Saturday, Sunday, legal
holiday, or day when banking institutions are authorized to close;
and payment on such date shall have the same force and effect as
if made on the original date payment was due. All payments of
principal of, premium,· if any, and interest on this Certificate
shall be without exchange or collection charges to the owner
hereof and in any coin or currency of the United States of America
which at the time of payment is legal tender for the payment of
public and private debts.
SECTION 9: Definitions. That for purposes of this
Ordinance and for clarity with respect to the issuance of the
Certificates, and the levy of taxes and appropriation of Net
Revenues therefor, the following words or terms, whenever the same
appear herein without qualifying language, are defined to mean as
follows:
76232
(a) The term "Additional Certificates" shall mean
combination tax and revenue certificates of obligation
hereafter issued under and pursuant to the provisions of
V.T.C.A., Local Government Code, Subchapter C of Chapter 271,
or similar law hereafter enacted and payable from ad valorem
taxes and additionally payable from and secured by a lien on
and pledge of the Net Revenues of the System on a parity with
and of equal rank and dignity with the lien and pledge
securing the payment of the Certificates.
(b) The term "Certificates" shall mean $14,425, ooo "CITY
OF LUBBOCK, TEXAS, COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1993" authorized by this Ordinance.
(c) The term "Certificate Fund" shall mean the special
Fund created and established under the provisions of
Section 10 of this Ordinance.
(d) The term "Collection Date" shall mean, when
reference is being made to the levy and collection of annual
ad valorem taxes, the date annual ad valorem taxes levied
each year by the City become delinquent.
(e) The term "Fiscal Year" shall mean the annual
financial accounting period used with respect to the
operations of the System now ending on September 30th of each
year; provided, however, the City Council may change, by
-16-
,,..
,,...
76232
ordinance duly passed, such annual financial accounting
period to end on another date if such change is found and
determined to be necessary for budgetary or other fiscal
purposes.
(f) The term "Government Obligations" shall mean direct
obligations of the United States of America, including
obligations the principal of and interest on which are
unconditionally guaranteed by the United states of America,
and the United States Treasury obligations such as its State
and Local Governm~nt Series in book-entry form.
(g) The term "Gross Revenues" shall mean, with respect
to any period, all income, revenues and receipts received
from the operation and ownership of the System.
(h) The term "Net Revenues" shall mean the Gross
Revenues of the System, with respect to any period, after
deducting the System's Operating and Maintenance Expenses
during such period.
(i) The term "Operating and Maintenance Expenses" shall
mean all reasonable and necessary expenses directly related
and attributable to the operation and maintenance of the
System, including, but not limited to, the cost of insurance,
the purchase and carrying of stores, materials, and supplies,
the payment of salaries and labor, and other expenses
reasonably and properly charged, under generally accepted
accounting principles, to the operation and maintenance of
the System. Depreciation charges on equipment, machinery,
plants and other facilities comprising the System and
expenditures classed under generally accepted accounting
principles as capital expenditures shall not be considered as
"Operating and Maintenance Expenses" for purposes of
determining "Net Revenues".
(j) The term "Outstanding" when used in this Ordinance
with respect to Certificates means, as of the date of
determination, all Certificates theretofore issued and
delivered under this Ordinance, except:
(1) those Certificates cancelled by the
Paying Agent/Registrar or delivered to the
Paying Agent/Registrar for cancellation;
(2) those Certificates deemed to be duly
paid by the City in accordance with the
provisions of Section 23 hereof by the
irrevocable deposit with the Paying
Agent/Registrar, or an authorized escrow agent,
of money or Government Securities, or both, in
the amount necessary to fully pay the principal
-17-
of, premium, if any, and interest thereon to
maturity or redemption, as the case may be,
provided that, if such Certificates are to be
redeemed, notice of redemption thereof shall
have been duly given pursuant to this Ordinance
or irrevocably provided to be given to the
satisfaction of the Paying Agent/Registrar or
waived; and
(3) those Certificates that have been
mutilated, destroyed, lost, or stolen and
replacement Certificates have been registered
and delivered in lieu thereof as provided in
Section 27 hereof.
(k) The term "Previously Issued Obligations" shall mean
(i) the outstanding "City of Lubbock, Texas, Combination Tax
and Sewer System Subordinate Lien Revenue Refunding Bonds,
Series 1988," (ii) the outstanding "City of Lubbock, Texas,
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1988," (iii) the
outstanding "City of Lubbock, Texas, Combination Tax and
Sewer System Subordinate Lien Revenue Certificates of
Obligation, Series 1991," and (iv) the outstanding "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate
Lien Revenue Certificates of Obligation, Series 1992."
(1) The term "Prior Lien Obligations" shall mean all
bonds or other similar obligations hereafter issued that are
payable in whole or in part from and secured by a lien on and
pledge of the Net Revenues of the System and such lien and
pledge securing the payment thereof is prior and superior in
claim, rank and dignity to the lien and pledge of the Net
Revenues securing the payment of the Certificates.
(m) The term "Similarly Secured Obligations" shall mean
collectively the Certificates, the Previously Issued
Obligations, and any Additional Certificates.
(n) The term "System" shall mean the City's sanitary
sewer system, being all sanitary sewage collection system,
ground storage facilities, effluent disposal and treatment
facilities and/or other works and equipment.
SECTION 10: Certificate Fund. That, for the purpose of
paying the interest on and to provide a sinking fund for the
payment and retirement of the Certificates, there shall be and is
hereby created a special Fund to be designated "SPECIAL 1993 CITY
OF LUBBOCK, TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE CERTIFICATE OF OBLIGATION FUND", which Fund shall be
kept and maintained at the City's depository bank, and moneys
deposited in said Fund shall be used for no other purpose. Proper
76232 -18-
officers of the City are hereby authorized and directed to cause
to be transferred to the Paying Agent for the Certificates, from
funds on deposit in the Certificate Fund, amounts sufficient to
fully pay and discharge promptly each installment of interest and
principal of the Certificates as the same accrues or matures or
comes due by reason of redemption prior to maturity; such
transfers of funds to be made in such manner as will cause
immediately available funds to be deposited with the Paying Agent
for the Certificates at the close of business on the last business
day next preceding each interest and/or principal payment date for
the Certificates.
Pending the transfer of funds to the Paying Agent/Registrar,
money in the Certificate Fund may, at the option of the City, be
invested in obligations identified in, and in accordance with the
provisions of the "Public Funds Investment Act of 1987" relating
to the investment of "bond proceeds"; provided that all such
investments shall be made in such a manner that the money required
to be expended from said Fund will be available at the proper time
or times. All interest and income derived from deposits and
investments in said Certificate Fund shall be credited to, and any
losses debited to, the said Certificate Fund. All such
investments shall be sold promptly when necessary to prevent any
default in connection with the Certificates.
SECTION 11: Tax Levy. That to provide for the payment of
the "Debt Service Requirements" on the Certificates being (i) the
interest on said Certificates and (ii) a sinking fund for their
redemption at maturity or a sinking fund of 2% (whichever amount
shall be the greater), there shall be and there is hereby levied
for the current year and each succeeding year thereafter while
said. Certificates or any interest thereon shall remain
Outstanding, a sufficient tax on each one hundred dollars'
valuation of taxable property in said City, adequate to pay such
Debt Service Requirements, full allowance being made for
delinquencies and costs of collection; said tax shall be assessed
and collected each year and applied to the payment of the Debt
Service Requirements, and the same shall not be diverted to any
other purpose. The taxes so levied and collected shall be
deposited into the Certificate Fund. This governing body hereby
declares its purpose and intent to provide and levy a tax legally
and fully sufficient to pay the said Debt Service Requirements, it
having been determined that the existing and available taxing
authority of the City for such purpose is adequate to permit a
legally sufficient tax in consideration of all other outstanding
indebtedness.
The amount of taxes to be provided annually for the payment
of the principal of and interest on the Certificates herein
authorized to be issued shall be determined and accomplished in
the following manner:
76232 -19-
,..
,,,..
,..
(a) Prior to the date the City Council establishes the annual
tax rate and passes an ordinance levying ad valorem taxes each
year, the City Council shall determine:
(1) The amount on deposit in the
Certificate Fund after (a) deducting therefrom
the total amount of Debt Service Requirements
to become due on Certificates prior to the
Collection Date for the ad valorem taxes to be
levied and (b) adding thereto the amount of Net
Revenues of . the System appropriated and
allocated to pay such Debt Service Requirements
prior to the Collection Date for the ad valorem
taxes to be levied.
( 2) The amount of Net Revenues if any,
appropriated and to be set aside for the
payment of the Debt Service Requirements on the
Certificates between the Collection Date for
the taxes then to be levied and the Collection
Date for the taxes to be levied during the next
succeeding calendar year.
(3) The amount of Debt Service
Requirements to become due and payable on the
Certificates between the Collection Date for
the taxes then to be levied and the Collection
Date for the taxes to be levied during the next
succeeding calendar year.
(b) The amount of taxes to be levied annually each year to
pay the Debt Service Requirements on the Certificates shall be the
amount established in paragraph (3) above less the sum total of
the amounts established in paragraphs (l)and (2), after taking
into consideration delinquencies and costs of collecting such
annual taxes.
SECTION 12: Pledge of Revenues. The City hereby covenants
and agrees that, subject only to a prior lien on and pledge of the
Net Revenues of the System for the payment and security of Prior
Lien Obligations, the Net Revenues of the System, with the
exception of those in excess of the amounts required to be
deposited to the Certificate Fund as hereafter provided, are
hereby irrevocably pledged, equally and ratably, to the payment of
the principal of and interest on the Similarly Secured Obligations
as herein provided, and the pledge of the Net Revenues of the
System herein made for the payment of the Certificates shall
constitute a lien on the Net Revenues of the System in accordance
with the terms and provisions hereof and be valid and binding
without further action by the City and without any filing or
recording except for the filing of this Ordinance in the records
of the City.
76232 -20-
SECTION 13: System Fund. The City hereby reaffirms its
covenant and agreement made in connection with the issuance of the
Previously Issued Obligations that all Gross Revenues (excluding
earnings from the investment of money held in any special funds or
accounts created for the payment and security of Prior Lien
Obligations) shall be deposited from day to day as collected into
a "City of Lubbock, Texas, Sewer system operating Fund"
(hereinafter called "System Fund") which Fund shall be kept and
maintained at an official depository bank of the City. All moneys
deposited in the System Fund shall be pledged and appropriated to
the extent required for the following purposes and in the order of
priority shown, to wit:
First: To the payment of all necessary and
reasonable Operating and Maintenance Expenses of the System
as defined herein or required by statute to be a first charge
on and claim against the Gross Revenues.
second: To the payment of the amounts required to be
deposited in the special Funds created and established for
the payment, security and benefit of Prior Lien Obligations
in accordance with the terms and provisions of the ordinances
authorizing the issuance of Prior Lien Obligations; and
Third: Equally and ratably to the payment of the
amounts required to be deposited in the special funds and
accounts created and established for the payment of the
Similarly Secured Obligations.
Any Net Revenues remaining in the System Fund after
satisfying the foregoing payments, or making adequate and
sufficient provision for the payment thereof, may be appropriated
and used for any other City purpose now or hereafter permitted by
law.
SECTION 14: Deposits to Certificate Fund. The City hereby
covenants and agrees to cause to be deposited in the Certificate
Fund prior to each interest and principal payment date from the
Net Revenues of the System, after deduction of all payments
required to be made to special Funds or accounts created for the
payment and security of the Prior Lien Obligations, an amount
equal to one hundred per centum (100%) of the amount required to
fully pay the accrued interest and principal of the Certificates
then due and payable by reason of maturity or redemption prior to
maturity, such deposits to pay accrued interest and principal on
the Certificates to be made in substantially equal monthly
installments on or before the last business day of each month
beginning the month the Certificates are delivered to the initial
purchaser.
The monthly deposits to the Certificate Fund, as hereinabove
provided, shall be made until such time as such Fund contains an
76232 -21-
amount equal to pay the principal of and interest on the
Certificates to maturity. Ad valorem taxes levied, collected and
deposited in the certificate Fund for and on behalf of the
Certificates may be taken into consideration and reduce the amount
of the monthly deposits otherwise required to be deposited in the
Certificate Fund from the Net Revenues of the System. In
addition, any proceeds of sale of the Certificates in excess of
the amount required to pay the contractual obligations to be
incurred ( including change orders to a construction contract)
shall be deposited in the Certificate Fund, which amount shall
reduce the sums otherwise required to be deposited in said Fund
from ad valorem taxes and the Net Revenues of the System.
SECTION 15: security of Funds. All moneys on deposit in
the Funds for which this Ordinance makes provision (except any
portion thereof as may be at any time properly invested) shall be
secured in the manner and to the fullest extent required by the
laws of Texas for the security of public funds, and moneys on
deposit in such Funds shall be used only for the purposes
permitted by this Ordinance.
SECTION 16: Maintenance of system -Insurance. While the
Certificates remain Outstanding, the City covenants and agrees to
maintain and operate the System with all possible efficiency and
to maintain casualty and other insurance on the properties of the
system and its operations of a kind and in such amounts
customarily carried by municipal corporations in the State of
Texas engaged in a similar type business; and that it will
faithfully and punctually perform all duties with reference to the
System required by the Constitution and laws of the State of
Texas.
SECTION 17: Rates and charges. The City hereby covenants
and agrees that rates and charges for services provided by the
system will be established and maintained, on the basis of all
available information and experience and with due allowance for
contingencies, that are reasonably expected to provide Gross
Revenues to pay:
76232
(a) Operating and Maintenance Expenses of the System;
(b) the interest on and. principal of Prior Lien
Obligations and the amounts required to be deposited into any
special Funds created and established for the payment and
security of the Prior Lien Obligations;
(c} the amounts required to be deposited in the special
Funds or Accounts created for the payment of the Similarly
Secured Obligations;
-22-
(d) any other legally incurred indebtedness payable from
the revenues of the System and/or secured by a lien on the
system or the revenues thereof.
SECTION 18: Records and Accounts -Annual Audit. The city
further covenants and agrees that while any Certificates remain
outstanding, it will keep and maintain accurate and complete
records and accounts pertaining to the ownership, operation and
maintenance of the system. The Holders of the Certificates or any
duly authorized agent or agents of such Holders shall have the
right to inspect the System and all properties comprising the
same. The City further agrees that following the close of each
Fiscal Year, it will cause an audit of such books and accounts to
be made by an independent firm of Certified Public Accountants.
Copies of each annual audit shall be furnished to the Executive
Director of the Municipal Advisory Council of Texas at his office
in Austin, Texas, the Texas Water Development Fund Manager at his
office in Austin, Texas, and to the initial purchaser of the
Certificates and any subsequent Holder of 10% or more in principal
amount of the certificates outstanding.
SECTION 19: Remedies in Event of Default. In addition to
all the rights and remedies provided by the laws of the State of
Texas, the city covenants and agrees particularly that in the
event the City (a) defaults in the payments to be made to the
Certificate Fund, or (b) defaults in the observance or performance
of any other of the covenants, conditions or obligations set forth
in this Ordinance, the owner or owners of any of the certificates
shall be entitled to a writ of mandamus issued by a court of
proper jurisdiction compelling and requiring the governing body of
the city and other officers of the city to observe and perform any
covenant, condition or obligation prescribed in this Ordinance.
No delay or omission to exercise any right or power accruing
upon any default shall impair any such right or power, or shall be
construed to be a waiver of any such default or acquiescence
therein, and every such right and power may be exercised from time
to time and as often as may be deemed expedient. The specific
remedies herein provided shall be cumulative of all other existing
remedies and the specification of such remedies shall not be
deemed to be exclusive.
SECTION 20: Special Covenants.
covenants as follows:
The City hereby further
76232
(a) It has the lawful power to pledge the Net Revenues
of the System supporting this issue of Certificates and has
lawfully exercised said powers under the Constitution and
laws of the State of Texas, including said power existing
under V.T.C.A., Local Governmental Code, Subchapter c of
Chapter 271.
-23-
(b) Other than for the payment of the certificates and
the Previously Issued Obligations, the Net Revenues of the
System have not in any manner been pledged to the payment of
any debt or obligation of the City or of the System.
SECTION 21: Issuance of Prior Lien Obligations and
Additional Certificates. The City hereby expressly reserves the
right to hereafter issue Prior Lien Obligations, without
limitation as to principal amount or any other limitation or
restriction.
In addition, the City reserves the right to issue Additional
Certificates, without limitation or any restriction or condition
being applicable to their issuance under the terms of this
Ordinance, payable from and secured by a lien on and pledge of the
Net Revenues of the System of equal rank and dignity, and on a
parity in all respects, with the lien thereon and pledge thereof
securing the payment of the Certificates.
SECTION 22: subordinate to Prior Lien Obligations
covenants and Agreements. It is the intention of this governing
body and accordingly hereby recognized and stipulated that the
provisions, agreements and covenants contained herein bearing upon
the management and operations of the System and the administering
and application of revenues derived from the operation thereof,
shall to the extent possible be harmonized with like provisions,
agreements and covenants contained in ordinances authorizing the
issuance of Prior Lien Obligations, and to the extent of any
irreconcilable conflict between the provisions contained herein
and in ordinances authorizing the issuance of Prior Lien
Obligations, the provisions, agreements and covenants contained
therein shall prevail to the extent of such conflict and be
applicable to this Ordinance but in all respects subject to the
priority of rights and benefits, if any, conferred thereby to the
holders or owners of the Prior Lien Obligations. Notwithstanding
the above, any change or modification affecting the application of
revenues derived from the operation of the System shall not impair
the obligation of contract with respect to the pledge of revenues
herein made for the payment and security of the Certificates.
SECTION 23: Satisfaction of Obligations of City. If the
City shall pay or cause to be paid, or there shall otherwise be
paid to the Holders, the principal of, premium, if any, and
interest on the Certificates, at the times and in the manner
stipulated in this Ordinance, then the pledge of taxes levied and
the lien on and pledge of the Net Revenues of the System under
this Ordinance and all covenants, agreements, and other
obligations of the City to the Holders shall thereupon cease,
terminate, and be discharged and satisfied.
Certificates shall be deemed to have been paid within the
meaning and with the effect expressed above in this Section when
76232 -24-
(i) money sufficient to pay in full such Certificates or the
principal amount(s) thereof at maturity or (if notice of
redemption has been duly given or waived or if irrevocable
arrangements therefor acceptable to the Paying Agent/Registrar
have been made) the redemption date thereof, together with all
interest due thereon, shall have been irrevocably deposited with
and held in trust by the Paying Agent/Registrar, or an authorized
escrow agent, or (ii) Government Securities shall have been
irrevocably deposited in trust with the Paying Agent/Registrar, or
an authorized escrow agent, which Government Securities have been
certified by an independent accounting firm to mature as to
principal and interest'in such amounts and at such times as will
insure the availability, without reinvestment, of sufficient
money, together with any moneys deposited therewith, if any, to
pay when due the principal of and interest on such Certificates,
or the principal amount(s) thereof, on and prior to the Stated
Maturity thereof or (if notice of redemption has been duly given
or waived or if irrevocable arrangements therefor acceptable to
the Paying Agent/Registrar have been made) the redemption date
thereof. The City covenants that no deposit of moneys or
Government Securities will be made under this Section and no use
made of any such deposit which would cause the Certificates to be
treated as "arbitrage bonds" within the meaning of Section 148 of
the Internal Revenue Code of 1986, as amended, or regulations
adopted pursuant thereto.
Any moneys so deposited with the Paying Agent/Registrar and
all income from Government Securities held in trust.by the Paying
Agent/Registrar, or an authorized escrow agent, pursuant to this
Section which is not required for the payment of the Certificates,
or any principal amount(s) thereof, or interest thereon with
respect to which such moneys have been so deposited shall be
remitted to the City or deposited as directed by the City.
Furthermore, any money held by the Paying Agent/Registrar for the
payment of the principal of and interest on the Certificates and
remaining unclaimed for a period of four (4) years after the
maturity, or applicable redemption date, of the Certificates such
moneys were deposited and are held in trust to pay shall upon the
request of the City be remitted to the City against a written
receipt therefor. Notwithstanding the above and foregoing, any
remittance of funds from the Paying Agent/Registrar to the city
shall be subject to any applicable unclaimed property laws of the
State of Texas.
SECTION 24: ordinance a Contract -Amendments. This
Ordinance shall constitute a contract with the Holders from time
to time, be binding on the City, and shall not be amended or
repealed by the City so long as any Certificate remains
outstanding except as permitted in this Section. The City, may,
without the consent of or notice to any Holders of the
Certificates, from time to time and at any time, amend this
Ordinance in any manner not detrimental to the interests of the
76232 -25-
Holders of the Certificates, including the curing of any
ambiguity, inconsistency, or formal defect or omission herein. In
addition, the City may, with the written consent of Holders of the
Certificates holding a majority in aggregate principal amount of
the Certificates then Outstanding affected thereby, amend, add to,
or rescind any of the provisions of this Ordinance; provided that,
without the consent of all Holders of Outstanding Certificates, no
such amendment, addition, or rescission shall (1) extend the time
or times of payment of the principal of, premium, if any, and
interest on the Certificates, reduce the principal amount thereof,
the redemption price, or the rate of interest thereon, or in any
other way modify the · terms of payment of the principal of,
premium, if any, or interest on the Certificates, (2) give any
preference to any Certificate over any other Certificate, or (3)
reduce the aggregate principal amount of Certificates required to
be held by Holders for consent to any such amendment, addition, or
rescission.
SECTION 25: Notices to Holders -Waivers. Wherever this
Ordinance provides for notice to Holders of any event, such notice
shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and sent by United States Mail, first
class postage prepaid, to the address of each Holder appearing in
the Security Register at the close of business on the business day
next preceding the mailing of such notice.
,... In any case where notice to Holders is given by mail, neither
the failure to mail such notice to any particular Holders, nor any
defect in any notice so mailed, shall affect the sufficiency of
such notice with respect to all other Certificates. Where this
Ordinance provides for notice in any manner, such notice may be
waived in writing by the Holder entitled to receive such
notice, either before or after the event with respect to which
such notice is given, and such waiver shall be the equivalent of
such notice. Waivers of notice by Holders shall be filed with the
Paying Agent/Registrar, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon
such waiver.
SECTION 26: Cancellation. Certificates surrendered for
payment, redemption, transfer, or exchange, if surrendered to the
Paying Agent/Registrar, shall be promptly cancelled by it and, if
surrendered to the City, shall be delivered to the Paying
Agent/Registrar and, if not already cancelled, shall be promptly
cancelled by the Paying Agent/Registrar. The City may at any time
deliver to the Paying Agent/Registrar for cancellation any
Certificates previously certified or registered and delivered
which the City may have acquired in any manner whatsoever, and all
Certificates so delivered shall be promptly cancelled by the
Paying Agent/Registrar. All cancelled Certificates held by the
Paying Agent/Registrar shall be returned to the city.
76232 -26-
,..
SECTION 27: Mutilated, Destroyed. Lost and Stolen
certificates. In case any Certificate shall be mutilated, or
,-.., destroyed, lost or stolen, the Paying Agent/Registrar may execute
and deliver a replacement Certificate of like form and tenor, and
in the same denomination and bearing a number not
contemporaneously outstanding, in exchange and substitution for
such mutilated Certificate, or in lieu of and in substitution for
such destroyed, lost or stolen Certificate, only upon the approval
of the City and after (i) the filing by the Holder thereof with
the Paying Agent/Registrar of evidence satisfactory to the Paying
Agent/Registrar of the destruction, loss or theft of such
certificate, and of the authenticity of the ownership thereof and
(ii) the furnishing to the Paying Agent/Registrar of
indemnification in an amount satisfactory to hold the City and the
Paying Agent/Registrar harmless. All expenses and charges
associated with such indemnity and with the preparation, execution
and delivery of a replacement Certificate shall be borne by the
Holder of the Certificate mutilated, or destroyed, lost or stolen.
Every replacement Certificate issued pursuant to this Section
shall be a valid and binding obligation, and shall be entitled to
all the benefits of this Ordinance equally and ratably with all
other outstanding Certificates; notwithstanding the enforceability
of payment by anyone of the destroyed, lost or stolen
Certificates.
The provisions of this Section are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with
respect to the replacement and payment of mutilated, destroyed,
lost, or stolen Certificates.
SECTION 28: covenants to Maintain Tax-Exempt status.
(a) Definitions. When used in this Section 28, the following
terms have the following meanings:
76232
"Code" means the Internal Revenue Code of 1986, as
amended by all legislation, if any, enacted on or before the
date of delivery of the Certificates to the initial
purchaser(s) thereof.
"Computation Date" has the meaning stated in Treas.
Reg. § 1.148-S(b)(l).
"Gross Proceeds" has the meaning stated in Treas. Reg.
S 1.148-S(d).
"Investmenttt has the meaning stated
Reg.§ 1.148-S(e).
in Treas.
"Net Proceeds" of the Certificates means the proceeds of
the certificates.
-27-
,....
"Nonpurpose Investment" means any Investment in which
Gross Proceeds of the Certificates are invested and which is
not acquired to carry out the governmental purpose of the
Certificates.
"Rebatable Arbitrage" has the meaning stated in Treas.
Reg.§ 1.148-2.
"Yield of"
(1) any Investment shall be
computed· in accordance with Treas.
Reg. §1.148-2, and
(2) the Certificates has the meaning
stated in Treas. Reg.§ 1.148-3.
(b) Not to Cause Interest to Become Taxable. The City shall
not use, permit the use of, or omit to use Gross Proceeds or any
other amounts (or any property the acquisition, construction, or
improvement of which is to be financed directly or indirectly with
Gross Proceeds) in a manner which, if made or omitted,
respectively, would cause the interest on any Certificate to
become includable in the gross income, as defined in section 61 of
the Code, of the owner thereof for federal income tax purposes.
Without limiting the generality of the foregoing, unless and until
the City shall have received a written opinion of counsel
nationally recognized in the field of municipal bond law to the
effect that failure to comply with such covenant will not
adversely affect the exclusion of interest on any Certificate from
gross income for federal income tax purposes pursuant to Section
103 of the Code, the City shall comply with each of the specific
covenants in this Section.
(c) No Private Use or Private Payments. Proceeds of the
Certificates and the facilities financed with the proceeds of the
Certificates will not be used in a manner that would cause the
Certificates to be "private activity bonds," as that term is
defined in section 141 of the Code. Except as permitted by
section 141 of the Code and the regulations and rulings
thereunder, the City shall, at all times prior to the last Stated
Maturity of Certificates,
76232
(1) exclusively own, operate, and possess all property
the acquisition, construction, or improvement of which is to
be financed directly or indirectly with Gross Proceeds of the
Certificates and not use or permit the use of such Gross
Proceeds or any property acquired, constructed, or improved
with such Gross Proceeds in any activity carried on by any
person or entity other than a state or local government,
unless such use is solely as a member of the general public,
or
-28-
( 2) not directly or indirectly impose or accept any
charge or other payment for use of Gross Proceeds of the
Certificates or any property the acquisition, construction,
or improvement of which is to be financed directly or
indirectly with such Gross Proceeds, other than taxes of
general application within the City or interest earned on
investments acquired with such Gross Proceeds pending
application for their intended purposes.
(d) No Private Loan. Except to the extent permitted by
section 141 of the Code and the regulations and rulings
thereunder, the City· shall not use Gross Proceeds of the
Certificates to make or finance loans to any person or entity
other than a state or local government. For purposes of the
foregoing covenant, such Gross Proceeds are considered to be
"loaned" to a person or entity if (1) property acquired,
constructed, or improved with such Gross Proceeds is sold or
leased to such person or entity in a transaction which creates a
debt for federal income tax purposes, (2) capacity in or service
from such property is committed to such person or entity under a
take-or-pay, output, or similar contract or arrangement, or (3)
indirect benefits, or burdens and benefits of ownership, of such
Gross Proceeds or any property acquired, constructed, or improved
with such Gross Proceeds are otherwise transferred in a
transaction which is the economic equivalent of a loan.
(e) Not to Invest at Higher Yield. Except to the extent
permitted by section 148 of the Code and the regulations and
rulings thereunder, the city shall not, at any time prior to the
final Stated Maturity of the Certificates, directly or indirectly
invest Gross Proceeds of the certificates in any Investment (or
use such Gross Proceeds to replace money so invested), if as a
result of such investment the Yield of all Investments allocated
to such Gross Proceeds whether then held or previously disposed
of, exceeds the Yield of the Certificates.
(f) Not Federally Guaranteed. Except to the extent permitted
by section 149(b) of the Code and the regulations and rulings
thereunder, the City shall not take or omit to take any action
which would cause the Certificates to be federally guaranteed
within the meaning of Section 149(b) of the Code and the
regulations and rulings thereunder.
(g) Information Report. The City shall timely file with the
Secretary of the Treasury the information required by section
149(e) of the Code with respect to the Certificates on such form
and in such place as such Secretary may prescribe.
(h) Payment of Rebatable Arbitrage. Except to the extent
otherwise provided in section 148(f) of the Code and the
,,,.. regulations and rulings thereunder,
76232 -29-
,,..
(1) The City shall account for all Gross Proceeds of the
Certificates (including all receipts, expenditures, and
investments thereof) on its books of account separately and
apart from all other funds (and receipts, expenditures, and
investments thereof) and shall maintain all records of such
accounting with the official transcript of the proceedings
relating to the issuance of the Certificates until six years
after the final Computation Date. The City may, however, to
the extent permitted by law, commingle Gross Proceeds of the
Certificates with other money of the City, provided that the
City separately a~counts for each receipt and expenditure of
such Gross Proceeds and the obligations acquired therewith.
(2) Not less frequently than each Computation Date, the
City shall either (i) cause to be calculated by a nationally
recognized accounting or financial advisory firm or (ii)
calculate and cause its calculations to be verified by a
nationally recognized accounting or financial advisory firm,
in either case in accordance with rules set forth in section
148(f) of the Code and Treas. Reg. § 1.148-2 and rulings
thereunder, the Rebatable Arbitrage with respect to the
Certificates. The City shall maintain such calculations with
the official transcript of the proceedings relating to the
issuance of the Certificates until six years after the final
Computation Date.
(3) As additional consideration for the purchase of the
Certificates by the initial purchasers thereof and the loan
of the money represented thereby, and in order to induce such
purchase by measures designed to result in the excludability
of the interest thereon from the gross income of the owners
thereof for federal income tax purposes, the City shall pay
to the United States the amount described in paragraph (2)
above and the amount described in paragraph (4) below, at the
times, in the installments, to the place, in the manner, and
accompanied by such forms or other information as is or may
be required by section 148(f) of the Code and
Treas. Reg.§§ 1.148-1 through 1.148-9 and rulings
thereunder.
(4) The City shall exercise reasonable diligence to
assure that no errors are made in the calculations required
by paragraph (2) and, if such error is made, to discover and
promptly to correct such error within a reasonable amount of
time thereafter, including payment to the United States of
any Correction Amount as described in Treas.
Reg. § 1.148-l(c)(2) and any penalty under Treas. Reg.
§ 1.148-l(c)(l)(ii)(B).
SECTION 29: Sale of the Certificates. The sale of the
,,.. Certificates to the Texas Water Development Board (herein referred
to as the "Purchasers" or the "Board") at the price of par is
76232 -30-
hereby approved and confirmed. Delivery of the Certificates to
the Purchasers shall occur as soon as possible upon payment being
made therefor in accordance with the terms of sale.
SECTION 30: Proceeds of Sale; Construction Fund. The City
hereby creates a construction fund account in the City's
depository bank, which is known as the "Construction Fund", into
which shall be deposited all proceeds derived from the sale of the
Certificates, all in accordance with Section 32 of this Ordinance
and this Section. To the extent of conflict between this Section
and Section 32, Section 32 controls.
Moneys on deposit in the Construction Fund shall be disbursed
only for payment of the costs of the project financed. All
expenditures for construction, labor and materials shall be
disbursed only upon receipt of a certificate of Black & Veatch
Engineers, the engineer named in the City's Application to the
Board, or of a substitute engineer acceptable to the Board, based
upon estimates of work and material furnished as approved by them
and submitted to the City and the City's engineer for approval
prior to payment. The City shall keep records of the nature and
amount of all Construction Fund expenditures and make the same
available to the engineers at all reasonable times. Should there
be any balance in the Construction Fund after all such costs of
the Project have been paid, such balance shall be placed in the
Certificate Fund.
Subject to the limitations of the Public Funds Investment Act
of 1987, moneys in the Construction Fund may be invested in one or
more of the following (a) Government Obligations, (b) certificates
of deposit of any bank or trust company which are fully secured by
a pledge of direct obligations of, or obligations of which the
principal and interest are guaranteed by, the United States of
America to the extent such certificates are not insured, which
obligations shall mature on dates which coincide as closely as
practicable to the dates when money will be needed to pay
construction costs as such dates are estimated in schedules
prepared by the engineer and furnished the City. All earnings
realized from these investments shall be transferred to the
Certificate Fund.
SECTION 31: Control and custody of Certificates. The Mayor
of the City shall be and is hereby authorized to take and have
charge of all necessary orders and records pending investigation
by the Attorney General of the State of Texas, including the
printing of the Certificates, and shall take and have charge and
control of the Certificates pending the approval thereof by the
Attorney General, the registration thereof by the Comptroller of
Public Accounts and the delivery thereof to the Purchasers.
Furthermore, the Mayor, City Secretary, City Manager, and
Assistant City Manager for Financial Services, any one or more of
76232 -31-
said officials, are hereby authorized and directed to furnish and
execute such documents and certifications relating to the City and
the issuance of the Certificates, including a certification as to
facts, estimates, circumstances and reasonable expectations
pertaining to the use and expenditure and investment of the
proceeds of the Certificates as may be necessary for the approval
of the Attorney General, registration by the Comptroller of Public
Accounts and delivery of the Certificates to the purchasers
thereof and, together with the City's financial advisor, bond
counsel and the Paying Agent/Registrar, make the necessary
arrangements for the d~livery of the Initial Certificate to the
purchasers.
SECTION 32: Compliance with State Revolving Loan Fund Rules.
In compliance with the State Revolving Loan Fund Permanent Rules
of the Board, the City agrees and covenants:
( 1) to keep and maintain full and complete records and
accounts pertaining to the construction of the project financed
with the proceeds of sale of the Certificates, including the
construction fund account created below, in accordance with the
standards set forth by the Government Accounting Standard Board;
(2) a "Special City of Lubbock SRF Loan Construction Fund"
has been created and established by Section 30 of this Ordinance
at an official depository of the City (the "Construction Fund")
for the receipt and disbursement of all proceeds from the sale of
the Certificates and all other funds acquired by the City in
connection with the planning and construction of the projects
financed, in whole or in part, by the Board pursuant to a loan
evidenced by the Certificates and all funds deposited to the
credit of the Construction Fund shall be disbursed only for the
payment of costs and expenses incurred in connection with the
planning and building of such projects as approved by the Board
and as otherwise allowed by the rules;
' ( 3) upon completion of the construction of the projects
financed, in whole or in part, by the loan evidenced by the
Certificates, to provide (i) to the Executive Administrator of the
Board a complete set of as-built drawings and (ii) to the Board a
final accounting of the total costs of the projects. If the
projects as finally completed were built at a total cost less than
the amount of available funds for building the projects,. or if the
Executive Administrator of the Board disapproves construction of
any portion of such projects as not being in accordance with the
plans and specifications, the City agrees to immediately, with
filing of the final accounting, return to the Board the amount of
any such excess and/ or the cost determined by the Executive
Administrator of the Board relating to the parts of such projects
not built in accordance with the plans and specifications, to the
nearest multiple of the authorized denominations for the
Certificates, upon the surrender and cancellation of a like amount
76232 -32-
of such Certificates held by the Board in inverse order of their
Stated Maturities. In determining the amount of available funds
for building the project, the City agrees to account for all
amounts deposited to the credit of the Construction Fund,
including all loan funds extended by the Board, all other funds
available from the projects as described in the project engineer's
or fiscal representative's sufficiency of funds statement and all
interest earned by the City on money in the Construction Fund;
(4) notwithstanding the provisions of Section 16 hereof, to
maintain adequate insu:c:ance coverage on the projects financed with
the proceeds of the Certificates in amounts adequate to protect
the Board's interest;
(5) to implement any water conservation program required by
the Board until all financial obligations to the State have been
discharged;
(6) to comply with any special conditions specified by the
Board's environmental determination until all financial
obligations to the State have been discharged; and
(7) to abide by the Board's rules and relevant state
statutes.
SECTION 33: Legal Opinion. The Purchaser's obligation to
accept delivery of the Certificates is subject to being furnished
a final opinion of Fulbright & Jaworski L.L.P., Attorneys,
approving such Certificates as to their validity, said opinion to
be dated and delivered as of the date of final delivery and
payment for the Certificates.
,,... SECTION 34: CUSIP Numbers. That CUSIP numbers may be
printed or typed on the definitive Certificates. It is expressly
provided, however, that the presence or absence of CUSIP numbers
on the definitive Certificates shall be of no significance or
effect as regards the legality thereof and neither the City nor
attorneys approving said Certificates as to legality are to be
held responsible for CUSIP numbers incorrectly printed or typed on
the definitive Certificates.
SECTION 35: Benefits of Ordinance. Nothing in this
Ordinance, expressed or implied, is intended or shall be construed
to confer upon any person other than the City, the Paying
Agent/Registrar and the Holders, any right, remedy, or claim,
legal or equitable, under or by reason of this Ordinance or any
provision hereof, this Ordinance and all its provisions being
intended to be and being for the sole and exclusive benefit of the
City, the Paying Agent/Registrar and the Holders.
76232 -33-
,...
SECTION 36: Inconsistent Provisions. All ordinances,
orders or resolutions, or parts thereof, which are in conflict or
inconsistent with any provision of this Ordinance are hereby
repealed to the extent of such conflict and the provisions of this
Ordinance shall be and remain controlling as to the matters
contained herein.
SECTION 37: Governing Law. This Ordinance shall be
construed and enforced in accordance with the laws of the State of
Texas and the United States of America.
SECTION 38: Severability. If any provision of this
Ordinance or the application thereof to any circumstance shall be
held to be invalid, the remainder of this Ordinance and the
application thereof to other circumstances shall nevertheless be
valid, and the City Council hereby declares that this Ordinance
would have been enacted without such invalid provision.
SECTION 3 9 : .._E ... f ... f .... e ... c .... t _____ o ... f _____ H __ e __ a __ d __ i__,n...,g.__s •
herein are for convenience only and
construction hereof.
The Section headings
shall not affect the
SECTION 40: construction of Terms. If appropriate in the
context of this Ordinance, words of the singular number shall be
considered to include the plural, words of the plural number shall
be considered to include the singular, and words of the masculine,
feminine or neuter gender shall be considered to include the other
genders.
SECTION 41: Public Meeting. It is officially found,
determined, and declared that the meeting at which this Ordinance
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 Ordinance, was given, all as
required by Article 6252-17, Vernon's Texas Civil Statutes, as
amended.
SECTION 42: Effective Date. This Ordinance shall take
effect and be in force immediately from and after its passage on
second and final reading, and IT IS SO ORDAINED.
76232 -34-
PASSED AND ADOPTED ON FIRST READING, this 22nd day ·of April,
1993.
PASSED AND ADOPTED ON S:.;;.E---= this 13th day
of May, 1993.
ATTEST:
~cr~s;rd4~---· --
(City Seal)
76232 -35-
EXHIBIT A
PAJING AGENT/REGISTRAR AGREEMENT
THIS AGREEMENT entered into as of May 13, 1993 (this
"Agreement"), by and between the City of Lubbock, Texas (the
"Issuer"), and Ameritrust Texas National Association, Austin,
Texas, a banking association duly organized and existing under the
laws of the United states of America (the "Bank").
RECITALS
WHEREAS, the Issuer has duly authorized and provided for the
issuance of its "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation, Series
199311 (the "Securities") in the aggregate principal amount of
$14,425,000, such Securities to be issued in fully registered form
only as to the payment of principal thereof and interest thereon;
and
WHEREAS, the Securities are to be delivered to the initial
purchasers thereof as soon as possible; and
WHEREAS, the Issuer has selected the Bank to serve as Paying
Agent/Registrar in connection with the payment of the principal of,
premium, if any, and interest on said Securities and with respect
to the registration, transfer, and exchange thereof by the
registered owners thereof; and
WHEREAS, the Bank has agreed to serve in such capacities for
and on behalf of the Issuer and has full power and authority to
perform and serve as Paying Agent/Registrar for the Securities;
NOW, THEREFORE, it is mutually agreed as follows:
ARTICLE ONE
APPOINTMENT OF BANK AS
PAYING AGENT AND REGISTRAR
section 1.01. Appointment.
The Issuer hereby appoints the Bank to serve as Paying Agent
with respect to the Securities, and, as such Paying Agent, the Bank
shall be responsible for paying on behalf of the Issuer the
principal of, premium (if any), and interest on the Securities as
the same become due and payable to the registered owners thereof;
all in accordance with this Agreement and the "Bond Resolution"
(hereinafter defined). The Issuer hereby appoints the Bank as
Registrar with respect to the Securities and, as Registrar for the
Securities, the Bank shall keep and maintain for and on behalf of
the Issuer books and records as to the ownership of said Securities
and with respect to the transfer and exchange thereof as provided
herein and in the "Bond Resolution".
The Bank hereby accepts its appointment, and agrees to serve
as the Paying Agent and Registrar for the Securities and to ·hold
the Initial Certificates in escrow and make delivery of the
Securities as provided in the Bond Resolution.
Section 1.02. Compensation.
As compensation for the Bank's services as Paying Agent/
Registrar, the Issuer hereby agrees to pay the Bank the fees and
amounts set forth in Annex A attached hereto for the first year of
this Agreement and thereafter the fees and amounts set forth in the
Bank's current fee schedule then in effect for services as Paying
Agent/Registrar for municipalities, which shall be supplied to the
Issuer on or before 90 days prior to the close of the Fiscal Year
of the Issuer, and shall be effective upon the first day of the
following Fiscal Year.
In addition, the Issuer agrees to reimburse the Bank upon its
request for all reasonable expenses, disbursements, and advances
incurred or made by the Bank in accordance with any of the
provisions hereof (including the reasonable compensation and the
expenses and disbursements of its agents and counsel).
ARTICLE TWO
DEFINITIONS
Section 2.01. Definitions.
For all purposes of this Agreement, except as otherwise
expressly provided or unless the context otherwise requires:
76246
"Acceleration Date" on any Security means the date on and
after which the principal or any or all installments of
interest, or both, are due and payable on any Security which
has become accelerated pursuant to the terms of the Security.
"Bank Office" means the principal corporate trust office
of the Bank as indicated on page 12 hereof. The Bank will
notify the Issuer in writing of any change in location of the
Bank Office.
"Bond Resolution" means the resolution, order, or
ordinance of the governing body of the Issuer pursuant to
which the Securities are issued, certified by the Secretary or
any other officer of the Issuer and delivered to the Bank.
-2-
76246
"Fiscal Year" means the fiscal year of the Issuer, ending
September 30.
"Holder" and "Security Holder" each means the Person in
whose name a Security is registered in the Security Register.
"Issuer Request" and "Issuer Order" means a written
request or order signed in the name of the Issuer by the
Mayor, City Secretary, City Manager, or Assistant City Manager
for Financial Services, any one or more of said officials, and
delivered to the Banlc.
"Legal Holiday" means a day on which the Bank is required
or authorized to be closed.
"Person" means any individual, corporation, partnership,
joint venture, association, joint stock company, trust,
unincorporated organization, or government, or any agency or
political subdivision of a government.
"Predecessor Securities" of any particular security means
every previous Security evidencing all or a portion of the
same obligation as that evidenced by such particular Security
(and, for the purposes of this definition, any mutilated,
lost, destroyed, or stolen Security for which a replacement
Security has been registered and delivered in lieu thereof
pursuant to Section 4.06 hereof and the Resolution).
"Redemption Date" when used with respect to any Bond to
be redeemed means the date fixed for such redemption pursuant
to the terms of the Bond Resolution.
"Responsible Officer" when used with respect to the Bank
means the Chairman or Vice-Chairman of the Board of Directors,
the Chairman or Vice-Chairman of the Executive Committee of
the Board of Directors, the President, any Vice President, the
Secretary, any Assistant Secretary, the Treasurer, any
Assistant Treasurer, the Cashier, any Assistant Cashier, any
Trust Officer or Assistant Trust Officer, or any other officer
of the Bank customarily performing functions similar to those
performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of
his knowledge of and familiarity with the particular subject.
"Security Register" means a register maintained by the
Bank on behalf of the Issuer providing for the registration
and transfer of Securities.
"Stated Maturity" means the date specified in the Bond
Resolution the principal of a Security is scheduled to be due
and payable.
-3-
Section 2.02. Other Definitions.
The terms "Banlt," "Issuer," and "Securities (Security)" have
the meanings assigned to them in the recital paragraphs of this
Agreement.
The term "Paying Agent/Registrar" refers to the Bank in the
performance of the duties and functions of this Agreement.
ARTICLE THREE
PAYING AGENT
Section 3.01. Duties of the Paying Agent.
As Paying Agent, the Banlt shall, provided adequate collected
funds have been provided to it for such purpose by or on behalf of
the Issuer, pay on behalf of the Issuer the principal of each
Security at its Stated Maturity, Redemption Date, or Acceleration
Date, to the Holder upon surrender of the Security to the Bank at
the Bank Office.
As Paying Agent, the Banlt shall, provided adequate collected
funds have been provided to it for such purpose by or on behalf of
the Issuer, pay on behalf of the Issuer the interest on each
Security when due, by computing the amount of interest to be paid
each Holder and making payment thereof to the Holders of the
Securities (or their Predecessor Securities) on the Record Date.
All payments of principal and/or interest on the Securities to the
registered owners shall be accomplished (1) by the issuance of
checks, payable to the registered owners, drawn on the fidicuary
account provided in Section 5. 05 hereof, sent by United States
mail, first class, postage prepaid, to the address appearing on the
Security Register or (2) by such other method, acceptable to the
Banlt, requested in writing by the Holder at the Holder's risk and
expense.
section J.02. Payment Dates.
The Issuer hereby instructs the Bank to pay the principal of
and interest on the Securities at the dates specified in the Bond
Resolution.
ARTICLE FOUR
REGISTRAR
Section 4.01. Security Register-Transfers and Exchanges.
The Bank agrees to keep and maintain for and on behalf of the
Issuer at the Bank Office books and records (herein sometimes
referred to as the "Security Register11 ) for recording the names and
76246 -4-
addresses of the Holders of the Securities, the transfer, exchange,
and replacement of the Securities and the payment of the principal
of and interest on the Securities to the Holders and containing
such other information as may be reasonably required by the Issuer
and subject to such reasonable regulations as the Issuer and the
Bank may prescribe. All transfers, exchanges, and replacements of
Securities shall be noted in the Security Register.
Every Security surrendered for transfer or exchange shall be
duly endorsed or be accompanied by a written instrument of
transfer, the signature on which has been guaranteed by an officer
of a federal or state bank or a member of the National Association
of Securities Dealers, such written instrument to be in a form
satisfactory to the Bank and duly executed by the Holder thereof or
his agent duly authorized in writing.
The Bank may request any supporting documentation it feels
necessary to effect a re-registration, transfer, or exchange of the
Securities.
To the extent possible and under reasonable circumstances, the
Bank agrees that, in relation to an exchange or transfer of
Securities, the exchange or transfer by the Holders thereof will be
completed and new Securities delivered to the Holder or the
assignee of the Holder in not more than three (3) business days
after the receipt of the Securities to be cancelled in an exchange
or transfer and the written instrument of transfer or request for
exchange duly executed by the Holder, or his duly authorized agent,
in form and manner satisfactory to the Paying Agent/Registrar.
Section 4.02. Securities.
The Issuer shall provide an adequate inventory of printed
Securities to facilitate transfers or exchanges thereof. The Bank
covenants that the inventory of printed Securities will be kept in
safekeeping pending their use and reasonable care will be exercised
by the Bank in maintaining such Securities in safekeeping, which
shall be not less than the care maintained by the Bank for debt
securities of other governments or corporations for which it serves
as registrar, or that is maintained for its own securities.
Section 4.03. Form of the security Register.
The Bank, as Registrar, will maintain the Security Register
relating to the registration, payment, transfer, and exchange of
the Securities in accordance with the Bank's general practices and
procedures in effect from time to time. The Bank shall not be
obligated to maintain such Security Register in any form other than
those which the Bank has currently available and currently utilizes
at the time.
76246 -5-
The Security Register may be maintained in written form or in
any other form capable of being converted into written form within
a reasonable time.
Section 4.04. List of Security Holders.
The Bank will provide the Issuer at any time requested by the
Issuer, upon payment of the required fee, a copy of the information
contained in the Security Register. The Issuer may also inspect
the information contained in the security Register at any time the
Bank is customarily open for business, provided that reasonable
time is allowed the Bank to provide an up-to-date listing or to
convert the information into written form.
The Bank will not release or disclose the contents of the
Security Register to any person other than to, or at the written
request of, an authorized officer or employee of ~he Issuer, except
upon receipt of a court order or as otherwise required by law.
Upon receipt of a court order and prior to the release or
disclosure of the contents of the Security Register, the Bank will
notify the Issuer so that the Issuer may contest the court order or
such release or disclosure of the contents of the Security
Register.
section 4.05. Return of cancelled Securities.
The Bank will, at such reasonable intervals as it determines,
surrender to the Issuer, Securities in lieu of which or in exchange
for which other Securities have been issued, or which have been
paid.
Section 4.06. Mutilated. Destroyed. Lost. or stolen
Securities.
The Issuer hereby instructs the Bank, subject to the
provisions of Section 27 of the Bond Resolution, to deliver and
issue Securities in exchange for or in lieu of mutilated,
destroyed, lost, or stolen Securities as long as the same does not
result in an overissuance.
In case any Security shall be mutilated, destroyed, lost, or
stolen, the Bank, in its discretion, may execute and deliver a
replacement Security of like form and tenor, and in the same
denomination and bearing a number not contemporaneously
outstanding, in exchange and substitution for such mutilated
Security, or in lieu of and in substitution for such destroyed,
lost, or stolen Security, only upon (i) the filing by the Holder
thereof with the Bank of evidence satisfactory to the Bank of the
destruction, loss, or theft of such Security, and of the
authenticity of the ownership thereof and (ii) the furnishing,to
the Bank of indemnification in an amount satisfactory to hold the
Issuer and the Bank harmless. All expenses and charges associated
76246 -6-
f"',
with such indemnity and with the preparation, execution, and
delivery of a replacement Security shall be borne by the Holder of
the Security mutilated, destroyed, lost, or stolen.
Section 4.07. Transaction Information to the Issuer.
The BanJc will, within a reasonable time after receipt of
written request from the Issuer, furnish the Issuer information as
to the Securities it has paid pursuant to Section 3. 01 hereof,
Securities it has delivered upon the transfer or exchange of any
Securities pursuant to Section 4.01 hereof, and Securities it has
delivered in exchange for or in lieu of mutilated, destroyed, lost,
or stolen Securities pursuant to Section 4.06 hereof.
ARTICLE FIVE
THE BANK
Section s.01. Duties of the Bank.
The BanJc undertakes to perform the duties set forth herein and
in the Bond Resolution (relating to the Initial Certificates) and
agrees to use reasonable care in the performance thereof.
Section 5.02. Reliance on the Documents. Etc.
(a) The Bank may conclusively rely, as to the truth of the
statements and correctness of the opinions expressed therein, on
certificates or opinions furnished to the Bank.
(b) The Bank shall not be liable for any error of judgment
made in good faith by a Responsible Officer, unless it shall be
proved that the Bank was negligent in ascertaining the pertinent
facts.
(c) No provisions of this Agreement shall require the Bank to
expend or risk its own funds or otherwise incur any financial
liability for performance of any of its duties hereunder, or in the
exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or
adequate indemnity satisfactory to it against such risks or
liability is not assured to it.
(d) The Bank may rely and shall be protected in acting or
refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent,
order, bond, note, security, or other paper or document believed by
it to be genuine and to have been signed or presented by the proper
party or parties. Without limiting the generality of the foregoing
statement, the Bank need not examine the ownership of any
Securities, but is protected in acting upon receipt of Securities
containing an endorsement or instruction of transfer or power of
76246 -7-
transfer which appears on its face to be signed by the Holder or
an agent of the Holder. The Bank shall not be bound to make any
investigation into the facts or matters stated in a resolution,
certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, note, security, or other
paper or document supplied by Issuer.
(e) The Bank may consult with counsel, and the written advice
of such counsel or any opinion of counsel shall be full and
complete authorization and protection with respect to any action
taken, suffered, or omitted by it hereunder in good faith and in
reliance thereon. ·
( f) The Bank may exercise any of the powers hereunder and
"'· perform any duties hereunder either directly or by or through
agents or attorneys of the Bank.
Section 5.03. Recitals of the Issuer.
The recitals contained herein with respect to the Issuer and
in the Securities shall be taken as the statements of the Issuer,
and the Bank assumes no responsiblity for their correctness.
The Bank shall in no event be liable to the Issuer, any Holder
or Holders of any Security, or any other Person for any amount due
on any Security from its own funds.
Section 5.04. May Hold Securities.
The Bank, in its individual or any other capacity, may become
the owner or pledgee of Securities and may otherwise deal with the
Issuer with the same rights it would have if it were not the Paying
~ Agent/Registrar, or any other agent. '
Section 5. 05. Moneys Held by the Bank -Separate Account/
Collateralization.
A separate account shall at all times be kept and maintained
,,,.. by the Bank for the receipt, safekeeping and disbursement of moneys
received from the Issuer hereunder for the payment of the
Securities, and money deposited to the credit of such account until
paid to the Holders of the securities shall be continuously
collaterialized by securities or obligations which qualify and are
eligible under the laws of the State of Texas to secure and be
pledged as collateral for accounts of the Issuer to the extent such
money is not insured by the Federal Deposit Insurance Corporation.
Payments made from such account shall be made by check drawn on
such account unless the owner of such Securities shall, at its own
expense and risk, request such other medium of payment.
The Bank shall be under no liability for interest on any money
received by it hereunder.
76246 -8-
Subject to the applicable unclaimed property laws of the State
of Texas, any money deposited with the Bank for the payment of the
principal, premium (if any), or interest on any Security and
remaining unclaimed for four years after final maturity of the
Security has become due and payable will be paid by the Bank to the
Issuer, and the Holder of such Security shall thereafter look ·only
to the Issuer for payment thereof, and all liability of the Bank
with respect to such moneys shall thereupon cease.
section 5.06. Indemnification.
To the extent permitted by law, the Issuer agrees to indemnify
the Bank for, and hold it harmless against, any loss, liability, or
expense incurred without negligence or bad faith on its part,
arising out of or in connection with its acceptance or
administration of its duties hereunder, including the cost and
expense against any claim or liability in connection with the
exercise or performance of any of its powers or duties under this
Agreement.
Section 5.07. lnterpleader.
The Issuer and the Bank agree that the Bank may seek
adjudication of any adverse claim, demand, or controversy over its
person as well as funds on deposit, in either a Federal or State
District Court located in the state and county where either the
Bank Office or the administrative office of the Issuer is located,
and agree that service of process by certified or registered mail,
return receipt requested, to the address referred to in
Section 6.03 of this Agreement shall constitute adequate service.
The Issuer and the Bank further agree that the Bank has the right
to file a Bill of Interpleader in any court of competent
jurisdiction to determine the rights of any Person claiming any
interest herein.
Section s.os. PT services.
It is hereby ~epresented and warranted that, in the event the
Securities are otherwise qualified and accepted for "Depository
Trust Company" services or equivalent depository trust services by
other organizations, the Bank has the capability and, to the extent
within its control, will comply with the "Operational
Arrangements", effective August 1, 1987, which establishes
requirements for securities to be eligible for such type depository
trust services, including, but not limited to, requirements for the
timeliness of payments and funds availability, transfer turnaround
time, and notification of redemptions and calls.
76246 -9-
ARTICLE SIX
MISCELLANEOUS PROVISIONS
section 6.01. Amendment.
This Agreement may be amended only by an agreement in writing
signed by both of the parties hereto.
section 6.02. Assignment.
This Agreement may not be assigned by either party without the
prior written consent of the other.
Section 6.03. Notices.
Any request, demand, authorization, direction, notice,
consent, waiver, or other document provided or permitted hereby to
be given or furnished to the Issuer or the Bank shall be mailed or
delivered to the Issuer or the Bank, respectively, at the addresses
shown on page 11 of this Agreement.
Section 6.04. Effect of Headings.
The Article and section headings herein are for convenience
only and shall not affect the construction hereof.
Section 6.05. Successors and Assigns.
All covenants and agreements herein by the Issuer shall bind
its successors and assigns, whether so expressed or not.
section 6.06. severability.
In case any provision herein shall be invalid, illegal, or
unenforceable, the validity, legality, and enforceability of the
remaining provisions shall not in any way be affected or impaired
thereby.
Section 6.07. Benefits of Agreement.
Nothing herein, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder, any
benefit or any legal or equitable right, remedy, or claim
hereunder.
Section 6.08. Entire Agreement.
This Agreement and the Bond Resolution constitute the entire
agreement between the parties hereto relative to the Bank acting as
Paying Agent/Registrar and if any conflict exists between this
Agreement and the Bond Resolution, the Bond Resolution shall
govern.
76246 -10-
,...
Section 6.09. Counterparts.
This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original and all of which shall
constitute one and the same Agreement.
Section 6.10. Termination.
This Agreement will terminate (i) on the date of final payment
of the principal of and interest on the Securities to the Holders
thereof or (ii) may be earlier terminated by either party upon
sixty (60) days written notice; provided, however, an early
termination of this Agreement by either party shall not be
effective until (a) a successor Paying Agent/Registrar has been
appointed by the Issuer and such appointment accepted and (b)
notice given to the Holders of the Securities of the appointment of
a successor Paying Agent/Registrar. Furthermore, the Bank and the
Issuer mutually agree that the effective date of an early
termination of this Agreement shall not occur at any time which
would disrupt, delay, or otherwise adversely affect the payment of
the Securities.
Upon an early termination of this Agreement, the Bank agrees
to promptly transfer and deliver the Security Register (or a copy
thereof), together with other pertinent books and records relating
to the Securities, to the successor Paying Agent/Registrar
designated and appointed by the Issuer.
The provisions of Section 1. 02 and of Article Five shall
survive and remain in full force and effect following the
termination of this Agreement.
Section 6.11. Governing Law.
This Agreement shall be construed in accordance with and
governed by the laws of the State of Texas.
76246 -11-
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.
[SEAL]
Attest:
City secretary
(SEAL)
ATTEST:
Title:
76246
CITY OF LUBBOCK, TEXAS
By:
Mayor
Address:
P. o. Box 2000
Lubbock, Texas 79457
AMERITRUST TEXAS
NATIONAL ASSOCIATION
Austin, Texas
By:
Mailing Address:
P. o. Box 149036
Austin, Texas 78714-9036
Delivery Address:
1000 San Jacinto Center
98 San Jacinto Blvd.
Austin, Texas 78701
-12-
PAYING AGENT/REGISTRAR AGREEMENT
THIS AGREEMENT entered into as of May 13, 1993 (this
"Agreement"), by and between the city of Lubbock, Texas (the
"Issuer"), and Ameritrust Texas National Association, Austin,
Texas, a banking association duly organized and existing under the
laws of the United States of America (the "Bank").
RECITALS
WHEREAS, the Issuer has duly authorized and provided for the
issuance of its "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation, Series
1993" (the "Securities") in the aggregate principal amount of
$14,425,000, such securities to be issued in fully registered £orm
only as to the payment of principal thereof and interest thereon;
and
WHEREAS, the Securities are to be delivered to the initial
purchasers thereof as soon as possible; and
WHEREAS, the Issuer has selected the Bank to serve as Paying
Agent/Registrar in connection with the payment of the principal of,
premium, if any, and interest on said Securities and with respect
to the registration, transfer, and exchange thereof by the
registered owners thereof; and
WHEREAS, the Bank has agreed to serve in such capacities for
and on behalf of the Issuer and has full power and authority to
perform and serve as Paying Agent/Registrar for the Securities;
NOW, THEREFORE, it is mutually agreed as follows:
ARTICLE ONE
APPOINTMENT OF BANK AS
PAYING AGENT AND REGISTRAR
Section 1.01. Appointment.
The Issuer hereby appoints the Bank to serve as Paying Agent
with respect to the Securities, and, as such Paying Agent, the Bank
shall be responsible for paying on behalf of the Issuer the
principal of, premium (if any), and interest on the Securities as
the same become due and payable to the registered owners thereof;
all in accordance with this Agreement and the "Bond Resolution"
(hereinafter defined) • The Issuer hereby appoints the Bank as
Registrar with respect to the securities and, as Registrar for the
Securities, the Bank shall keep and maintain for and on behalf of
76246
-
the Issuer books and records as to the ownership of said Securities
and with respect to the transfer and exchange thereof as provided
herein and in the "Bond Resolution".
The Bank hereby accepts its appointment, and agrees to serve
as the Paying Agent and Registrar for the Securities and to hold
the Initial Certificates in escrow and make delivery of the
Securities as provided in the Bond Resolution.
Section 1.02. Compensation.
As compensation for the Bank's services as Paying Agent/
Registrar, the Issuer hereby agrees to pay the Bank the fees and
amounts set forth in Annex A attached hereto for the first year of
this Agreement and thereafter the fees and amounts set forth in the
Bank's current fee schedule then in effect for services as Paying
Agent/Registrar for municipalities, which shall be supplied to the .
Issuer on or before 90 days prior to the close of the Fiscal Year
of the Issuer, and shall be effective upon the first day of the
following Fiscal Year. ·
In addition, the Issuer agrees to reimburse the Bank upon its
request for all reasonable expenses, disbursements, and advances
incurred or made by the Bank in accordance with any of the
provisions hereof (including the reasonable compensation and the
expenses and disbursements of its agents and counsel).
ARTICLE TWO
DEFINITIONS
Section 2.01. Definitions.
For all purposes of this Agreement, except as otherwise
expressly provided or unless the context otherwise requires:
76246
"Acceleration Date" on any Security means the date on and
after which the principal or any or all installments of
interest, or both, are due and payable on any Security which
has become accelerated pursuant tb the terms of the Security.
"Bank Office" means the principal corporate trust office
of the Bank as indicated on page 12 hereof. The Bank will
notify the Issuer in writing of any change in location of the
Bank Office.
"Bond Resolution" means the resolution, order, or
ordinance of the governing body of the Issuer pursuant to
which the Securities are issued, certified by the Secretary or
any other officer of the Issuer and delivered to the·Bank •
·--2-. -.
,..
76246
,..
"Fiscal Year" means the fiscal year of the Issuer, ending
September 30.
"Holder" and "Security Holder" each means the Person in
whose name,a Security is registered in the Security Register.
"Issuer Request" and "Issuer Order" means a written
request or order signed in the name of the Issuer by the
Mayor, city Secretary, city Manager, or Assistant City Manager
for Financial Services, any one or more of said officials, and
delivered to the Bank.
"Legal Holiday" means a day on which the Bank is required
or authorized to be closed.
"Person" means any individual, corporation, partnership,
joint venture, association, joint stock company, trust, •
unincorporated organization, or government, or any agency or
political subdivision of a government.
"Predecessor Securities" of any particular Security means
every previous Security evidencing all or a portion of the
same obligation as that evidenced by such particular Security
(and, for the purposes of this definition, any mutilated,
lost, destroyed, or stolen Security for which a replacement
Security has been registered and delivered in lieu thereof
pursuant to Section 4.06 hereof and the Resolution).
"Redemption Date" when used with respect to any Bond to
be redeemed means the date fixed for such redemption pursuant
to the terms of the Bond Resolution.
"Responsible Officer" when used with respect to the Bank
means the Chairman or Vice-Chairman of the Board of Directors,
the Chairman or Vice-Chairman of the Executive Committee of
the Board of Directors, the President, any Vice President, the
Secretary, any Assistant Secretary, the Treasurer, any
Assistant Treasurer, the Cashier, any Assistant cashier, any
Trust Officer or Assistant Trust Officer, or any other officer
of the Bank customarily performing functions similar to those
performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of
his knowledge of and familiarity with the particular subject.
"Security Register" means a register maintained by the
Bank on behalf of the Issuer providing for the registration
and transfer of Securities.
"Stated Maturity" means the date specified in the Bond
Resolution the principal of a Security is scheduled to be due
and payable.
·--3----
Section 2.02. Other Definitions.
The terms "Banlc," "Issuer," and "Securities (Security)" have
the meanings assigned to them in the recital paragraphs of this
Agreement.
The term "Paying Agent/Registrar" refers to the Bank in the
performance of the duties and functions of this Agreement.
ARTICLE THREE
PAYING AGENT
Section 3.01. Duties of the Paying Agent.
As Paying Agent, the Bank shall, provided adequate collected
funds have been provided to it for such purpose by or on behalf of .
the Issuer, pay on behalf of the Issuer the principal of each
Security at its Stated Maturity, Redemption Date, or Acceleration
Date, to the Holder upon surrender of the Security to the Bank at
the Banlc Office.
As Paying Agent, the Banlc shall, provided adequate collected
funds have been provided to it for such purpose by or on behalf of
the Issuer, pay on behalf of the Issuer the interest on each
Security when due, by computing the amount of interest to be paid
each Holder and making payment thereof to the Holders of the
Securities (or their Predecessor Securities) on the Record Date.
All payments of principal and/or interest on the Securities to the
registered owners shall be accomplished (1) by the issuance of
checks, payable to the registered owners, drawn on the fidicuary
account provided in Section 5. 05 hereof, sent by United States
mail, first class, postage prepaid, to the address appearing on the
security Register or (2) by such other method, acceptable to the
Banlc, requested in writing by the Holder at the Holder's risk and
expense.
section 3.02. Payment Dates.
The Issuer hereby instructs the Banlc to pay the principal of
and interest on the Securities at the dates specified in the Bond
Resolution.
ARTICLE FOUR .
REGISTRAR
Section 4.01. Security Register-Transfers and Exchanges.
The Banlc agrees to keep and maintain for and on behalf of the
Issuer at the Banlc Office books and records (herein sometimes
referred to as the "Security Register11 ) for recording the names and
76246 ·--4----
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addresses of the Holders of the Securities, the transfer, exchange,
and replacement of the Securities and the payment of the principal
of and interest on the Securities to the Holders and containing
such other information as may be reasonably required by the Issuer
and subject to such reasonable regulations as the Issuer and the
Bank may prescribe. All transfers, exchanges, and replacements of
Securities shall be noted in the security Register.
Every Security surrendered for transfer or exchange shall be
duly endorsed or be accompanied by a written instrument of
transfer, the signature on which has been guaranteed by an officer
of a federal or state bank or a member of the National Association
of Securities Dealers, such written instrument to be in a form
satisfactory to the Bank and duly executed by the Holder thereof or
his agent duly authorized in writing.
The Bank may request any supporting documentation it feels .
necessary to effect a re-registration, transfer, or exchange of the
Securities.
To the extent possible and under reasonable circumstances, the
Bank agrees that, in relation to an exchange or transfer of
Securities, the exchange or transfer by the Holders thereof will be
completed and new Securities delivered to the Holder or the
assignee of the Holder in not more than three (3) business days
after the receipt of the Securities to be cancelled in an exchange
or transfer and the written instrument of transfer or request for
exchange duly executed by the Holder, or his duly authorized agent,
in form and manner satisfactory to the Paying Agent/Registrar.
Section 4.02. Securities.
The Issuer shall provide an adequate inventory of printed
Securities to facilitate transfers or exchanges thereof. The Bank
covenants that the inventory of printed securities will be kept in
safekeeping pending their use and reasonable care will be exercised
by the Bank in maintaining such Securities in safekeeping, which
shall be not less than the care maintained by the Bank for debt
securities of other governments or corporations for which it serves
as registrar, or that is maintained for its own securities.
Section 4.03. Form of the Security Register.
The Bank, as Registrar, will maintain the Security Register
relating to the registration, payment, .transfer, and exchange of
the Securities in accordance with the Bank's general practices and
procedures in effect from time to time. The Bank shall not be
obligated to maintain such Security Register in any form other than
those which the Bank has currently available and currently utilizes
at the time.
76246 ·--5-
The Security Register may be maintained in written form or in
any other form capable of being converted into written form within
a reasonable time.
section 4.04. List of Security Holders.
The Bank will provide the Issuer at any time requested by the
Issuer, upon payment of the required fee, a copy of the information
contained in the Security Register. The Issuer may also inspect
the information contained in the Security Register at any time the
Bank is customarily open for business, provided that reasonable
time is allowed the Bank to provide an up-to-date listing or to
convert the information into written form.
The Bank will not release or disclose the contents of the
Security Register to any person other than to, or at the written
request of, an authorized officer or employee of the Issuer, except .
upon receipt of a court order or as otherwise required by law.
Upon receipt of a court order and prior to the release or
disclosure of the contents of the Security Register, the Bank will
notify the Issuer so that the Issuer may contest the court order or
such release or disclosure of the contents of the Security
Register.
Section 4.05. Return of cancelled Securities.
The Bank will, at such reasonable intervals as it determines,
surrender to the Issuer, Securities in lieu of which or in exchange
for which other Securities have been issued, or which have been
paid.
Section ·4.06. Mutilated, Destroyed,
Securities.
Lost. or stolen
The Issuer hereby instructs the Bank, subject to the
provisions of Section 27 of the Bond Resolution, to deliver and
issue Securities in exchange for or in lieu of mutilated,
destroyed, lost, or stolen Securities as long as the same does not
result in an overissuance.
In case any Security shall be mutilated, destroyed, lost, or
stolen, the Bank, in its discretion, may execute and deliver a
replacement Security of like form and tenor, and in the same
denomination and bearing a number not contemporaneously
outstanding, in exchange and substitution for such mutilated
Security, or in lieu of and in substitution for such destroyed,
lost, or stolen security, only upon (i) the filing by the Holder
thereof with the Bank of evidence satisfactory to the Bank of the
destruction, loss, or theft of such Security, and of the
authenticity of the ownership thereof and (ii) the furnishing to
the Bank of indemnification in an amount satisfactory to hold the
Issuer and the Bank harmless. All expenses and charges associated
76246 ·--6-. -.
,...
with such indemnity and with the preparation, execution, and
delivery of a replacement Security shall be borne by the Holder of
the Security mutilated, destroyed, lost, or stolen.
Section 4.07. Transaction Information to the Issuer.
The Bank will, within a reasonable time after receipt of
written request from the Issuer, furnish the Issuer information as
to the Securities it has paid pursuant to Section 3. 01 hereof,
Securities it has delivered upon the transfer or exchange of any
Securities pursuant to Section 4.01 hereof, and Securities it has
delivered in exchange for or in lieu of mutilated, destroyed, lost,
or stolen Securities pursuant to Section 4.06 hereof.
ARTICLE FIVE
THE BANK
Section s.01. Duties of the Bank.
The Bank undertakes to perform the duties set forth herein and
in the Bond Resolution (relating to the Initial Certificates) and
agrees to use reasonable care in the performance thereof.
Section s.02. Reliance on the Documents, Etc.
(a) The Bank may conclusively rely, as to the truth of the
statements and correctness of the opinions expressed therein, on
certificates or opinions furnished to the Bank.
(b) The Bank shall not be liable for any error of judgment
made in good faith by a Responsible Officer, unless it shall be
proved that the Bank was negligent in ascertaining the pertinent
facts.
(c) No provisions of this Agreement shall require the Bank to
expend or risk its own funds or otherwise incur any financial
liability for performance of any of its duties hereunder, or in the
exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that-repayment of such funds or
adequate indemnity satisfactory to it against such risks or
liability is not assured to it.
(d) The Bank may rely and shall be protected in acting or
refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent,
order, bond, note, security, or other paper or document believed by
it to be genuine and to have been signed or presented by the proper
party or parties. Without limiting the generality of the foregoing
statement, the Bank need not examine the ownership ,of any
Securities, but is protected in acting upon receipt of Securities
containing an endorsement or instruction of transfer or power of
76246 ·--7-.. -~
transfer which appears on its face to be signed by the Holder or
an agent of the Holder. The Bank shall not be bound to make any
investigation into the facts or matters stated in a resolution,
certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, note, security, or other
paper or document supplied by Issuer.
(e) The Bank may consult with counsel, and the written advice
of such counsel or any opinion of counsel shall be full and
complete authorization and protection with respect to any action
taken, suffered, or omitted by it hereunder in good faith and in
reliance thereon.
(f) The Bank may exercise any of the powers hereunder and
perform any duties hereunder either directly or by or through
agents or attorneys of the Bank.
Section 5.03. Recitals of the Issuer.
The recitals contained herein with respect to the Issuer and
in the Securities shall be taken as the statements of the Issuer,
and the Bank assumes no responsiblity for their correctness.
The Bank shall in no event be liable to the Issuer, any Holder
or Holders of any security, or any other Person for any amount due
on any Security from its own funds.
Section 5.04. May Hold Securities.
The Bank, in its individual or any other capacity, may become
the owner or pledgee of Securities and may otherwise deal with the
Issuer with the same rights it would have if it were not the Paying
Agent/Registrar, or any other agent.
Section 5. OS. Moneys Held by the Bank -Separate Account/
Collateralization.
A separate account shall at all times be kept and maintained
by the Bank for the receipt, safekeeping and disbursement of moneys
received from the Issuer hereunder-for the payment of the
Securities, and money deposited to the credit of such account until
paid to the Holders of the Securities shall be continuously
collaterialized by securities or obligations which qualify and are
eligible under the laws of the State of Texas to secure and be
pledged as collateral for accounts of th~ Issuer to the extent such
money is not insured by the Federal Deposit Insurance Corporation.
Payments made from such account shall be made by check drawn on
such account unless the owner of such Securities shall, at its own
expense and risk, request such other medium of payment.
The Bank shall be under no liability for interest on any money
received by it hereunder.
76246 ·--a-. --
Subject to the applicable unclaimed property laws of the State
of Texas, any money deposited with the Bank for the payment of the
principal, premium (if any), or interest on any Security and
remaining unclaimed for four years after final maturity of the
Security has become due and payable will be paid by the Bank to the
Issuer, and the Holder of such Security shall thereafter look only
to the Issuer for payment thereof, and all liability of the Bank
with respect to such moneys shall thereupon cease.
Section 5.06. Indemnification.
To the extent permitted by law, the Issuer agrees to indemnify
the Bank for, and hold it harmless against, any loss, liability, or
expense incurred without negligence or bad faith on its part,
arising out of or in connection with its acceptance or
administration of its duties hereunder, including the cost · and
expense against any claim or liability in connection with the ·
exercise or performance of any of its powers or duties under this
Agreement.
Section 5.07. Interpleader.
The Issuer · .and the Bank agree that the Bank may seek
adjudication of any adverse claim, demand, or controversy. over its
person as well as funds on deposit, in either a Federal or State
District court located in the state and county where either the
Bank Office or the administrative office of the Issuer is located,
and agree that service of process by certified or registered mail,
return receipt requested, to the address referred to in
Section 6.03 of this Agreement shall constitute adequate service.
The Issuer and the Bank further agree that the Bank has the right
to file a Bill of Interpleader in· any court of competent
jurisdiction to determine the rights of any Person claiming any
interest herein.
Section s.oa. OT services.
It is hereby represented and warranted that, in the event the
Securities are otherwise qualified and accepted for "Depository
Trust Company" services or equivalent depository trust services by
other organizations, the Bank has the capability and, to the extent
within its control, will comply with the "Operational
Arrangements", effective August 1, 1987, which establishes
requirements for securities to be eligible for such type depository
trust services, including, but not limited to, requirements for the
timeliness of payments and funds availability, transfer turnaround
time, and notification of redemptions and calls.
76246 . ---9-
ARTICLE SIX
MISCELLANEOUS PROVISIONS
Section 6.01. Amendment.
This Agreement may be amended only by an agreement in writing
signed by both of the parties hereto.
Section 6.02. Assignment.
This Agreement may not be assigned by either party without the
prior written consent of the other.
Section 6.03. Notices.
Any request, demand, authorization, direction, notice,
consent, waiver, or other document provided or permitted hereby to •
be given or furnished to the Issuer or the Bank shall be mailed or
delivered to the Issuer or the Bank, respectively, at the addresses
shown on page 11 of this Agreement.
Section 6.04. Effect of Headings.
The Article and Section headings herein are for convenience
only and shall not affect the construction hereof.
Section 6.05. successors and Assigns.
All covenants and agreements herein by the Issuer shall bind
its successors and assigns, whether so expressed or not.
Section 6.06. Severability.
In case any provision herein shall be invalid, illegal, or
unenforceable, the validity, legality, and enforceability of the
remaining provisions shall not in any way be affected or impaired
thereby.
Section 6.07. Benefits of Agreement.
Nothing herein, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder, any
benefit or any legal or equitable right, remedy, or claim
hereunder.
Section 6.08. Entire Agreement.
This Agreement and the Bond Resolution constitute the entire
agreement between the parties hereto relative to the Bank acting as
Paying Agent/Registrar and if any conflict exists betwe·en this
Agreement and the Bond Resolution, the Bond Resolution shall
govern.
76246 ··--10---·
section 6.09. counterparts.
This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original and all of which shall
constitute one and the same Agreement.
Section 6.10. Termination.
This Agreement will terminate (i) on the date of final payment
of the principal of and interest on the Securities to the Holders
thereof or (ii) may be earlier terminated by either party upon
sixty (60) days written notice; provided, however, an early
termination of this Agreement by either party shall not be
effective until (a) a successor Paying Agent/Registrar has been
appointed by the Issuer and such appointment accepted and (b)
notice given to the Holders of the Securities of the appointment of
a successor Paying Agent/Registrar. Furthermore, the Bank and the .
Issuer mutually agree that the effective date of an early
termination of this Agreement shall not occur at any time which
would disrupt, delay, or otherwise adversely affect the payment of
the Securities.
Upon an early termination of this Agreement, the Bank agrees
to promptly transfer and deliver the Security Register (or a copy
thereof), together with other pertinent books and records relating
to the securities, to the successor Paying Agent/Registrar
designated and appointed by the Issuer.
The provisions of Section 1. 02 and of Article Five shall
survive and remain in full force and effect following the
termination of this Agreement.
section 6.11. Governing Law.
This Agreement shall be construed in accordance with and
governed by the laws of the State of Texas.
76246 ·--11----
,,..
,...
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and y 1 above written.
[SEAL]
(SEAL)
ATTEST:
76246
Address:
P. o. Box 2000
Lubbock, Texas 79457
AMERITRUST TEXAS
NATIONAL ASSOCIATION
Austin, Texas
By: ~~~~~~~"""'="~~=Lc=-=·-----ASSIST
Mailing Addre
P. o. Box 149036
Austin, Texas 78714-9036
Delivery Address:
1000 San Jacinto Center
98 .San Jacinto Blvd.
Austin, Texas 78701
·--12-. --
ANNEX A
Acceptance Fee:
Annual Administration Fee:
$
$
0.00
200.00
,,,..,
-..
....
•
,...
GENERAL CERTIFICATE
THE STATE OF TEXAS §
§
COUNTY OF LUBBOCK §
§
CITY OF LUBBOCK §
WE, the undersigned, Mayor and City Secretary, respectively,
of the City of Lubbock, Texas, DO HEREBY CERTIFY as follows:
1. Relative to Tax-supported Indebtedness.
That the total principal amount of indebtedness of the City,
including the proposed $14,425,000 "City of Lubbock, Texas,
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993," dated May 1, 1993,
payable from ad valorem taxes levied and collected by the City is
as follows:
OUTSTANDING INDEBTEDNESS
SERIES 1993 CERTIFICATES
TOTAL INDEBTEDNESS
2. Relative to Debt service Requirements.
$122,988,752
14,425.000
$137,413,752
That a debt service requirement schedule for the City's
above-described outstanding indebtedness as well as the proposed
$14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation, Series
1993," dated May 1, 1993, is attached hereto as Exhibit A and made
a part of this certificate for all purposes.
3. Relative to City Officials.
That certain duly qualified and acting officers of said City
are as follows:
4.
DAVID R. LANGSTON
BETTY M. JOHNSON
J. ROBERT MASSENGALE
MAYOR
CITY SECRETARY
ASSISTANT CITY MANAGER
FOR FINANCIAL SERVICES -
CITY TREASURER
Relative to Incorporation.
That said City is incorporated under the General Laws of the
State of Texas, and is operating under the Home Rule Amendment to
the Texas Constitution, Section 5, Article XI, as amended in 1912;
76254
.-
--•
the City Charter was originally adopted at an election held on
December 27, 1917, and said Charter has not been amended or revised
in any respect since January 18, 1992, the date of the last Charter
Amendment Election.
5. Relative to Taxable Values.
That the assessed value of all taxable property (net of
exemptions) in the City, as shown by the tax rolls for the year
1992, and which have been duly approved and are the latest official
assessment of taxable property in the city is as follows:
TOTAL ASSESSED TAXABLE VALUES OF
REAL AND PERSONAL PROPERTY $4,667,750,168
6. Relative to Nonencumbrance and No Default.
Save and except for the pledge of the income and revenues of
the City's Sewer System to the payment of principal and interest to
become due with respect to the proposed "City of Lubbock, Texas,
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993," dated May 1, 1993, and
the "City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Certificates of Obligation, Series 1988,"
"City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Refunding Bonds, Series 1988," "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1991," and "City of
Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1992," said income and
revenues of said System have not been pledged or hypothecated in
any other manner or for any other purpose; and the above
obligations evidence the only liens, encumbrances or indebtedness
of said System or against the income and revenues of such System.
The City is not in default with respect to any covenant, condition,
or obligation with respect to any of such obligations secured by
revenues of the City's Sewer System.
7. Relative to Income and Revenues.
The following is a schedule of the gross receipts, operating
expenses and net revenues of the City's Sewer System for the years
stated:
Fiscal Year Gross Operating Net
Ending 9-30 Receipts Expenses Revenues
1988 $ 6,370,767 $ 4,201,440 $ 2,169,327
1989 9,097,080 4,124,560 4,972,520
1990 10,334,826 4,054,261 6,280,565
1991 10,416,226 4,137,603 6,278,623
1992 11,150,474 4,716,171 6,434,303
76254 -2-
.. I •• ~
8. Relative to Utility Properties.
The sewer utility properties owned, operated and maintained by
the city currently provides sewer services to approximately 62,262
inhabitants of the City.
As of the date hereof, no question is pending and no
proceedings of any nature have been instituted in any manner
~' questioning the City's right and title to its utility properties or
its authority to operate the same.
,..
9. Relative to Rates and Charges.
The current monthly rates and charges for services provided by
the city's Sewer System are as follows:
Residential
Base Rate $2.49*
SEWER RATES
Present Rate
(effective 10/1/92)
Flow Rate l.06/M gallons**
Maximum Monthy Charge $15.21
Commercial/Industrial (1)
Base Rate $2.49*
Flow Rate l.06/M gallons
*Base Rate is based on a 3 / 4" meter; there are higher Base
Rates for larger meters up to a maximum Base Rate of $556.10
for a 1011 meter
**Based on average monthly water consumption for the three
months December, 1991-February, 1992; no flow rate charged for
consumption in excess of 12,000 gallons per month.
10. Relative to No Petition.
That no petition of any kind or character has been filed with
the Mayor, City Secretary or any other official of the City
protesting the issuance of the proposed "City of Lubbock, Texas
Combination Tax and Sewer System Subordinate Lien Revenue
Certificates of Obligation, Series 1993".
11. Relative to Interest Earnings.
That interest earnings on proceeds from the sale of
$14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer
System Subordinate Lien Revenue Certificates of Obligation, Series
199311 will be deposited to the Certificate Fund established by the
ordinance authorizing the issuance of the obligations, save and
except during the time of construction of improvements and
76254 ---
"" . ' .. .,.
,...
extensions being financed by such obligations, such interest
earnings, upon approval of the governing body of the city, will be
used for the construction of improvements and extensions for which
such obligations are being issued. --....
WITNESS OUR HANDS AND THE SEAL OF
this the 22nd day of April, 1 93.
yor,
David R. Langston
City of Lubbock,
(City Seal) Betty M. Johnson
76254 ·--4-. --
) ) ) ) 1 l ) ) l I.O'UQ,SJIP , ...... CTIY Ot' UIBROCI(, TEXAS GEKBRALOBUGA'TION DEBTSEltVla3RBJUHU!MBNT5 (AFTER ISSUANCBOP S14,4:?S,ll00 OOMBINA'JTON TAX AND SBWl!R n'51l!M SUBOttDINA'IBUEN CER11PIC'.A'mSOP OBllGA110N,~E31993) U!SS: U!SS: m5.1: U'>SS: SOLID 001.P WA'lt!ttWORIC SEWER WAS'ffl COUltSR ommRAL S14,425,DOOTAXANDSEWBR. SYStBM SYS'lllM DISPOML FACIUTlllS PURPOSE JIISCAL SYSTEM SUB. UBN ltBV. OOS,SERH!S 1993 GRAND otlNERAL OBNBRAL 01!NBR.AL Gf!N6RAL O!!NBRAL YEAR. OUTSTANDING DE!n" um.,-1-9.J; PRIN.DU81-l,-961U; INT. TOTAL OBIJOA110N OBUOATION OUUOATIOl'f OBUCIA'!IOM OBUOA'ffOff ENDtNG COMBINBD DUB:Z-15-1994AND8-15AND1-1S IU!OlJIRB-JU!QUJR.B-R8QUIIUJ-RBQtnRE-Rl:'lQUiltB-RBQUIRP.-9-30 PRINCIPAL tNTl!REST REOUHU!MEN'JS PRINCWAL INTERES1'(2)_ TOTAL MBN'l:S MENTS MElffll M8N'l'S MBN1S MBHTS 199'3 $!1.93S.OOO SS..7'4.023 $17,11!!9.0ZS S s s U7.6!'.mB S,,4711,414 $4,,4..T7,l92 ffl!>,693 $85,641 S6,l!M.98'7 1994 199$ 1996 1997 1ll9S 1999 2000 2001 2tlm 200] 2004 10)S 200& 20(11 2008 2nO!> 2010 2011 2011. 2013 2014 201$ 9p15,om 7,:149,001 l~l l{U7{1,000 6~ 16,1!28,..'IM ICJ,ll(!.000 S,1!'78,tM l6,JM,.106 1Wl14,-Gt S,«d~TI 15,421\.111 9,74'1f/6 4,816,1(!6 14,'61.241 9,.121,493 4.2)1.ll'Z7 13,7'$J'20 5,ffl,'815 "671,88) 12,ll71.J!E6 6~A«I 4,l!D5,6411 11,.41$,DM IS,193,639 3,749,ffl 9,943,.134 ,.m~ 2,tll.,ffl B,571,2(,B 4.m,000 2,132,ffl 11,847,.11? 4,11$,000 .JIJY7,'64 6.,52.'M-I 4,129.000 l,.546.t}'l5 6,2.611,112.6 4.72(),0CO 1.2$1,104 ,.m,.10, 4/m,000 989,.104 !J,l)64,304 3,7"41.00) 71S2,21,i 4..~,114 3,17$.000 56',ffll 3,741,illlS 3,180,000 388,6211 J,'68/,l'IS 2,,,u.000 ( •> 244,964 2,259,1164 t:/30.ooo 142,m 1Pl,ffl 1,TJO,t)OO 47,S7' , 1,ffl,fl'S SlJl,,868, ffl '91/Hil,ffl no1.m,sn (1) INClJJOES $55.000 OOMlllNATION TAX AND S1lWER SYSTEM SUIIORDINATBUBN RBVBNUBCl?R'nPICATl3SOPOBUGATION, ~BS lffl, DUB2-1'-2012 TO BB DBIJVBRE'D TO 1BXAS WATl!R DBVBLOPMENTBOARD ONIABOUfll-1-tw.t 720,000 ffl),000 T!1lfl'IJ 120.000 123,000 ffl.000 n,,ooo ru,om ffl,000 725,000 72$1!«1 ffl.000 m,ro, ffl,00, ffl,000 ffllm 670,00) ·m.ooo ru,ro, 77,j~ $)4,425,000 1169.'!0'7 1169-''11 17,133,ffl 1,UlJ,223 4.m.3&5 190,'l'IB M,00 6,18S,ffll 721.ttl nt,2!,0 17~19 4f,!Olf1/'J 6,3St,4n 1,1,834 33,21& '.ffl"6'J MJ,.ttl t,,12',2..,i 17,-11J5& 4,307,124 ','14'i/K'l5 '714,141 84,224 S,156).Q 667,2,:) 1,387.:m 16,ffl,361 4/167PJ5 ',553,941 ffl,142 s,,301 5,m./i71 6'JI~ 1,3s1.:m 15,'12,ffl 3~ 11,351,842 484,ffl st,.m 5,134.101 "'''"° l,31~ 1',ll'I0,770 3/,f1lll'J!J 6,1411,8?16 ffl.,9ffl 11%,«n 4,ffl,Sf!l ,.19,12, l,2M,12S 13,S',991 J,ffl,"2 6/Jf'JUff 445,7m 113,lm ~ ffl,:?$ 1,247,ffl 12~3 3,064/,U 5A94,6M 418,312 113,300 31,(1l1X4 4116.62' 1,211,m 11,1,,,059 2.'l!!,1194 5,lt!l,441. ffl,6Q 83.m J/Jl6/m 410,375 lJ1'J1.I' 9JM6/,~ 2,W,6Q 4,1116.ffl 3,441) 12,1!(11 2,.199,761 -414,12' 1,139.12' 1~,sTI 1,639,110 ' 4,111l,'J81 1.mns m.m l,llll,ffl 11>5'!/,"YJ l,!161,7415 4,.0,$ .,.,.~ 341,62' l,l)ff,62! 7,332/,51 1,ffl,5(111 4,267,ffl l.,ffl,O'.XI 305,ffl 1,lnO,ffl 7/.M)'SP, l,f12,ffl ~,%1% 1,A911,ffl ffl.12' 99<1,l2! CIJm,429 1,118,6.".1 3,SSl,107 1,3'9.(184 :zn.m mJm 5MOJ)ll9 1.1129'14 3,.419,l<!I l,OU,fSG l9tl/i2S 9'11,625 4,ff3,113 ffl,IJCl3 3,171,ffl 1111,1!!19 IQ)J'l5 885;m 4,-ffi,IX)l m,2&11 3PJ3,901 ™,813 1u,sro ~JO) :,,m,,AM 2,794,201 261,263 90.525 sui2' ~ 2,688.3,:) SU1' mm 2."f,t!O l,s.16,m 111,12$ 743,125 1g12S 743112.f SS,m,.182 S'Z33MJ82 m,~ S,2,)t,,.,417 tto:t.?07,781 l",ffl,1» $916,$)4 SU,ffl,,975 (l)IN'mRBSTON1lmCER1U'ICATl!SHASBP..ENCAl.ClJLATE.DAT!J'J&PORlu.usntA110NFROMAN~ DBUVERYDA'mOP6-l-1993. l l I --fl? ---, l::a,
CERTIFICATE AS TO TAX EXEMPTION
The undersigned, being the duly chosen and qualified Assistant
City Manager for Financial Services of the City of Lubbock, Texas
{the "Issuer"), hereby certifies with respect to CITY OF LUBBOCK,
TEXAS, COMBINATION TAX ANO SEWER SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION, SERIES 1993, in the principal amount of
$14,425,000 (the "Certificates"), as follows.
A. General.
1. I, along with other officers of the Issuer, am charged
with the responsibility for issuing the certificates.
2. This certificate is made pursuant to Sections 103 and 141
through 150 of the Internal Revenue Code of_l986, as amended to the
date hereof (the "Code"), and Treasury Regulations issued
thereunder, including Temporary Regulations (the "Regulations").
3. This certificate is based on the facts and estimates
described herein in existence on this date, which is the date of
delivery of the Certificates to and payment for the Certificates by
the Texas Water Development Board (the "PUrchaser") , and on the
basis of such facts and estimates, the Issuer expects that the
future events described herein will occur.
4. The Issuer has never been disqualified by the
Commissioner of Internal Revenue from certifying an issue of its
obligations pursuant to Section 1.103-13(a)(2)(iv) of the
Regulations, has never been listed in a notice of disqualification
in the Internal Revenue Bulletin~ and has never been advised that
such a disqualification is contemplated.
B. Purpose and Size.
1. The certificates are being issued pursuant to an
Ordinance of the Issuer, adopted by the City Council of the Issuer
on May 13, 1993, (hereinafter referred to as the "Ordinance") to
finance the payment of contractual obligations to be incurred by
the Issuer for the construction of improvements and extensions to
the City's Wastewater Treatment System (the "Project"), and
professional services rendered in connection with the Project.
Terms used and not defined herein have the same meaning given to
them in the Ordinance.
2. The Project is owned, operated, and maintained by the
Issuer, and the Issuer has not contracted in any manner with any
company, firm or other person or entity to operate and/or maintain
the Project or any part of it for and on behalf of the Issuer. The
Issuer does not expect to enter into any contract for the
-1-
operation, maintenance or management of the Project or any part of
it.
3. There is not, and as of the date hereof the Issuer does
not anticipate entering into, any lease, contract or other
understanding or arrangement, such as a take-or-pay contract or
output contract, with any person other than a state or local
governmental unit pursuant to which the Issuer expects that
proceeds of the Certificates, or the facilities financed therewith,
will be used in the trade or business of such person (including all
activities of such persons who are not individuals).
4. The amounts received from the sale of the Certificates,
when added to the amounts expected to be received from the
investment thereof, do not exceed the amounts required to pay the
costs of the Project and of issuing the Certificates.
5. No receipt from the sale of the Certificates or amounts
received from the investment thereof will be used to pay . the
principal of or interest on any presently outstanding issue of
bonds or other similar obligations of the Issuer other than the
Certificates.
c. source and Disbursement of Funds.
1. The Certificates are being issued and delivered to the
Purchaser on the date hereof upon payment of the aggregate agreed
purchase price of $14,425,000.
2. Approximately $14,404,500.00 of the proceeds from the
sale of the Certificates is to be credited to the construction fund
of the Issuer (the "Construction FUnd"), will be accounted for
separately from all other funds on the books of account of the
Issuer, and will be used to pay costs of the Project. Costs of
issuance relating to the Certificates, which are expected to be
approximately $20,500.00, will be paid by the Issuer from proceeds
from the sale of the Certificates. The Issuer estimates that
$210,000.00 in income and profit will be received from the
investment of the amounts deposited to the Construction FUnd
pending the disbursement of such amounts for the governmental
purposes for which the Certificates are being issued~ All of such
income and profit will be used to pay any cost overruns on the
Project or if there are none, deposited to the Certificate Fund and
used to pay principal of and interest on the certificates within
one year of receipt.
D. Temporary Periods and Time for Expenditures.
1. Within six months from the date hereof, the Issuer will
have incurred binding obligations or commitments in the amount of
JB04627.DIR\0095454.WP -2-
at least $100,000.00 for the Project to be financed by the
certificates by entering into contracts for construction,
architectural services, engineering services, land acquisition,
site development, construction materials, or the purchase of
equipment.
2. After entering into said contracts, work on the
construction or acquisition of the Project will proceed with due
diligence to completion.
3. The Issuer expects that all of the original proceeds of
the Certificates, together with any earnings from the investment
thereof, will be spent by August 1995.
E. Certificate Fund and System Fund.
1. Pursuant to Section 11 of the Ordinance, the Issuer has
levied a tax on all taxable property in the Issuer to pay principal
of and interest on the Certificates as such become due, and such
tax has been pledged to the payment of the Certificates. Amounts
collected from such tax for the payment of the principal of and
interest on the Certificates are to be deposited to the credit of
the Certificate Fund maintained on the books of the Issuer.
2. The Ordinance requires that all revenues received by the
Issuer by reason of its ownership and operation of the system shall
be deposited as received in the System, to be disbursed in the
following order of priority:
a. for payment of Maintenance and Operation
expenses of the System;
b. for payment into the special funds and accounts
created and established for the payment and benefit of
any Prior Lien Obligations;
c. for payment of the amounts required to be
deposited in the Certificate Fund and other special funds
and accounts created and established for the payment of
the Certificates and Similarly Secured Obligations;
d. for use by the Issuer for any other purpose of
the Issuer now or hereafter permitted by law.
3. The Certificate FUnd will be maintained by the
Issuer primarily to achieve a proper matching of revenues and debt
service within each bond year. The Issuer expects that the
following will occur with respect to the money in the Certificate
Fund (other than that portion of the Certificate Fund, if any,
consisting of deposits made to defease in whole or in part the
obligations of the Issuer to make deposits thereto):
JB04627.DJR\0095454.WP -3-
a. Such fund will be depleted at least once a year
except possibly for a carry-over amount not greater than
the larger of one year's income from the investment of
such portion or one-twelfth of annual debt service
requirements on the Certificates;
b. All amounts deposited to such fund to pay debt
service on the Certificates will be spent within 13
months of deposit;
c. All amounts received from the investment of
such funds will be deposited therein and will be expended
within twelve months of receipt.
4. Except as described above, no funds of the Issuer
have been or will be pledged to payment of the principal of or
interest on the certificates or otherwise restricted so as to give
reasonable assurance of the availability of such funds for such
purpose.
F. Yield and Nonpurpose Investments.
1. The discount factor required to reduce the principal
and interest to be paid on the Certificates to a present value on
the date hereof, compounding semiannually, equal to the initial
offering prices at which a substantial amount of each maturity of
the Certificates was sold to the Purchaser, is 4.1736566%.
2. No other obligations of the Issuer payable from
substantially the same source of funds have been or will be issued
within 31 days of the date hereof.
3. In accordance with Section 28(h) of the Ordinance,
except to the extent otherwise provided in section 148(f) of the
Code and the regulations and rulings thereunder, the Issuer will
compute and pay to the United States the Rebatable Arbitrage due
with respect to the Certificates not less frequently than every
five years, in the installments, to the place, in the manner, and
accompanied by such forms or other information as is or may be
required by section 148 of the Code and the regulations and
rulings thereunder.
JB04627.0IR\0095454.WP -4-
EXECUTED AND DELIVERED __ J ....... 11 N-..~ .... 1 ... o_l,,__.99.._3_.
,.. CITY Of LUBBOCK, TE>C.AS
Financial SQrvices
J804627,01R\009S4S4.\JP -s-
SIGNATURE AND NO-LITIGATION CERTIFICATE
THE STATE OF TEXAS §
§
COUNTY OF LUBBOCK §
§
CITY OF LUBBOCK §
WE, the undersigned, officials of the City of Lubbock, Texas
(the "Issuer"), do hereby certify as follows:
(1) That this Certificate is executed and delivered with
reference to the following described certificates of obligation:
11CITY OF LUBBOCK, TEXAS COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES 1993,"
dated May 1, 1993 (the "Certificate Date"), in the aggregate
principal amount of $14,425,000 (the "Certificates").
(2) The Certificates have been duly and officially executed
by the undersigned with their manual or facsimile signatures in the
same manner appearing thereon, and the undersigned hereby adopt and
ratify their respective signatures in the manner appearing on each
of the Certificates whether in manual or facsimile form, as the
case may be, as their true, genuine, and official signatures.
(3) That on the Certificate Date and on the date hereof, we
were and are the duly qualified and acting officers indicated
therein and authorized to execute the same.
(4) The legally adopted proper and official corporate seal of
the Issuer is impressed, imprinted, or lithographed on all of the
Certificates and impressed on this certificate.
(5) No litigation of any nature is now pending before any
federal or state court, or administrative body, or to our knowledge
threatened, seeking to restrain or enjoin the issuance or delivery
of the Certificates or questioning the issuance or sale of the
Certificates, the authority or action of the governing body of the
Issuer relating to the issuance or sale of the certificates, the
levy of the tax or the assessment and collection thereof to pay the
principal of and interest on the Certificates, the coll,ection of
the revenues of the city's Sewer System (the "System") or the
imposition of rates and charges with respect to the System, pledged
to pay the principal of and interest on the certificates, or that
would otherwise adversely affect in a material manner the financial
condition of the Issuer to pay the principal of and interest on the
Certificates; and that neither the corporate existence or
boundaries of the Issuer nor the right to hold office of any member
of the governing body of the Issuer or any other elected or
appointed official of the Issuer is being contested or otherwise
questioned.
76247
,..
t
· ...
(6) That no petition or other request has been filed with or
presented to any official of the Issuer requesting any proceeding
authorizing the issuance of the Certificates adopted by the
governing body of the Issuer be submitted to a referendum or other
election; no authority or proceeding for the issuance, sale, or
delivery of the Certificates, passed and adopted by the governing
body of the Issuer, has been amended, repealed, revoked, rescinded,
or otherwise modified since the date of passage thereof, and all
such proceedings and authority relating to the issuance and sale of
the Certificates remain in full force and effect as of the date of
this certificate.
•
EXECUTED AND DELIVERED this JUN 1 0 1993 --------------·
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
OFFICIAL TITLE
-.....,~ayor, city of Lubbock, Texas
David R. Langston
City Secretary, City of Lubbock,
Texas
Betty M. Johnson
Before me, the Undersigned, a Notary Public, on this day
personally appeared David R. Langston and Betty M. Johnson, known
to me to be the Mayor and city Secretary, respectively, of Lubbock,
Texas, and who in my presence each executed this instrument before
me in the capacity represented and each of said person's signature
is genuine.
day
of
GIVJJ,N UNDER MY HAND AND SEAL OF OFFICE, this the 2312d
8:,:>ttJ I , 1993.
z
otary Public, Sta
&e.a. ~ t2I c. M. e.o cl er G-tt.e. z:
Printed name of Notary Public
·.My comm_i~sio/ expires: ". ---(Y-l/o'3 q!: ' --. . . .
§~t1r~tary_ Seal) ~.::; .._ ....:.::: ... ::.; _:::,._ :_ ..... ........_
\ 76Z:.7:. '._ . ·. ·-· -2-. --
STATE OF TEXAS Olitu nf IDubbnck. utcxa.a Olnmhinatinn max anb ,i;cwtr ,i;y.attm ~uhnrbinatt 1Gitn iReutnut Qicrtificutt nf Ql)bUgutinn SERIES 1993 ~Dau: May I, 11193 Registen:d Owner: Principal Amount: TI. Cily c,f I..Nboc:l (htmMNr rt:feh'Cld to~ the ••Cny""), 1 body~ Mid munkipal corpontion ill the Cwnty of Labbocl. S..,, ofTuu. """"'"' ...,.;...i. act...-1c,1,.. h .. 11-bl<d 10..., hetd,y ,....;,,, 1n F>r io th< ltet1iMcr<d ---•d,o,ql"""1usiJ .. -.IIM:PriftC!p>IAmoum,_•-•""""'SutodM1tvrilycb1t,1•:<irial _,.,.,., __ as_1D_bompllid.,...prior........,...,)Uld,opoy......,mlhcuopudl'rincipol-......,,,_.... at Ille bais of• -..,.y yar ol twdn 30-<lay montllsl !Tom !he -pay...., -11u1 l"ffl'di•J lhe "ltqi..,,... i-" of dlis Certifitol< oppear!AJ _, (unlffl dlis C<rtif-. bean• "llegisuotioo O..." u ol •11.,...... ,.,.._ clR. ii wlric:h aa inl:emc shall amue fram web dale. or unleu the Registration n.1c ol lhis CenifK::alll: ts I.he deli'YW)' -or !llis Calllicole (or ils -c..ur....,J io Ille l11itial putd>wn, in which -......,, sholl......, Imm -dlle of ctdlve,oy IC 1M initial ~) tt 1hr per lmNm ntc: or il'defflt j:peclfied abi:'ne; such tl'lkful hcfng pty1bh: on ~ 1'udA-15ohochyar,_,.,..,.;,,gfebrum-y 15, 1!'94. PmeipolofdlhCmif.-ispoyableatiUS..<d ~.,.....,._.,,,,.,.. ____ _,.,...._on11....-,111hcO..iJ1111"tll'ay,neotrtransfer Offlc•d*hJ,O'l~°"---lherqi,t-ccrtilialcoppcoring...,_,oths-=sor.-i,payablt o, die rq-..i -of !Iii• Ccn!f.-(ot -ar _. -~. a def ..... ;,, 1hr Ordinanc, ......,.,,., . . . ... : .... ••• ~~.ttf t,~~•}E~AS ·-:~;-::,·.: ~ ..... ~-: .~., ~:-~ ,, .. _,,. : ·, -\; ~ l:~ -::· · rt.b \,'"',." .' ... ' •.1~l ,, • • • Mayor~,_: '. COUNTEKSIG'f1J>:·, ~·, • · _,' ) 1'. ; , ., ~ ~ ' ' ,# ;.
, ::~~~)A:-(};-~'. ··.: City SecrelOty CUSll'NO: DOLLARS n:frrraced) whose a,me lppcat\ Oft lht Hkurily RcJista .. •imamed by lht Pay-ins AJeMIR,qsis1rar II the~ or bl»iJltU Oft the "Record Datt0• wtuch is the last bulinw day of Ole month lltll prea:din, eadl iMtN::51 peiymmt date alld inttttst lhall hr paid by ,i,. Poyin1 Agc,Willqistmbyche<k -U....i S.--1. f""da•-l"'J'Ud. u, die-olu "I-°"'""' rteorded mlhe Sea1ri1f Rqismonlhc lleconl 0... or t,y-i.Olher -hod. ~tolh: l'll)'inr A1ffllill<1ww, ,_,..i by.""""''"" risk ud ••-ol. tl,c rqi......i-. lfllle-for me.,.,..... of th< principal of o, i...,.,. on•~ Cc:rtolClla IISlfl be • Sltvrdly. Sttndl)'. • kpl ldiday. ar • day when briit11 iastiMions in the cily 'tl'M:n: Ole hying Aafflllltefhttw is loc:aed ffl Mfthorit.td t,y }Ht' Of cuan:iYC onkr to time, then 1M date~ wch Pl)'ffll:ltt $NII be 1M fled SUC«Odinfcb)'whi<hu ... -"•Slnrolay.Slffldly.qalbolicby,o,cbywh .. ~UISlilul.-... -od.,_; and ptyn1eft1 on mch date shah have lhe 5a1i'IC force-lftd tffecl I.S if flak Oft the oritinal dale payme-nt WU dm;_ AR paymeftll of priacipal of . .,.-, ii oay, and-~ on W!. Cm6colt ,hall he wi-H<Nfll" or coll--,.. to the -hll:nof and ia uy coin • cumM)' of the Uftltal Stalel of America ... mch 11 ~ time of paffflffll ii ktal tenkr for dr paymtn1 of p,,bli< ond privllt -·-CONTIHUeo OH 8A.CK • RE.GIST11A110N CER11F1CATE OF PA'tlNG AG£NTIREGIS11!AR 11lil c,m/ktltt llas bno r1wry w,,,,1 and ,.,,;,,,..,J-,,,. ,,., ,.,.,.,;floM at• .;tlri••-""'"" ~: Mr unifinw nr c.nijia,ln oJ th~.,.,,., ffllitlnl ..d J,si"'°"' strin crifinaU." ffJiwml h"""I -__,, by 1M Ananwy c;,,.,,-./ of rlt, Slatr of T,.as ONI ffffut•ml by w Co,nptnllffr of P""1i< -...,,,, "'1""-"111w rr<ordt af t"'1 l"oyi,,1 AJ,..ttt,p,mr,. 11,,t p,i,,dpal officn of rl,e Payi,rf Af,"1/11,gi:nrar br MIios, T,xM, ts II,, ··o,,;,-n1 "-' T""""" OJflar'' for lhu C,nifica,,. AME.Rl111.IJST 1EUS NA110NAL ASS0Clll110N cu Pq-, "-IRttlmor By _______________ _ Aol/toriudSi1-
.. ....
IMl'!'D, ----------
fr&,.
DAN MORALES
ATTORNEY GENERAL
®ffict of tbt §ttornep @eneral
E>tatc of t!tcxas
June 7, 1993
THIS IS TO CERTIFY that the City of Lubbock, Texas
(the "Issuer"), has submitted to me city of Lubbock,
Texas, combination Tax and sewer System Subordinate Lien
Revenue certificate of Obligation, Series 1993 (the
"Certificate") in the principal amount of $14,425,000 for
approval. The Certificate is dated May 1, 1993, numbered
T-1 and was authorized by Ordinance No. 9613 of the
Issuer passed on May 13, 1993 (the "Ordinance").
I have examined the law and such certified proceedings and
other papers as I deem necessary to render this opinion.
As to questions of fact material to my opinion, I have relied
upon representations of the Issuer contained in the certified
proceedings and other certifications of public officials furnished
to me without undertaking to verify the same by independent
investigation.
I express no opinion relating to any offering material
relating to the Certificate.
Based on my examination, I am of the opinion, as of the date
hereof and under existing law, as follows (capitalized terms,
except as herein defined, have the meanings given to them in the
Ordinance):
(1) The Certificate has been issued in accordance with law
and is a valid and binding obligation of the Issuer.
(2) The Certificate is payable from the proceeds of an annual
ad valorem tax levied, within the limit prescribed by law,
upon all taxable property in the Issuer, and, together with
the Previously Issued Obligations, is additionally payable
from and secured by a lien on and pledge of the Net Revenues
of the Issuer's System, such lien and pledge being junior and
subordinate to the lien on and pledge of the Net Revenues of
the System securing the payment of the Issuer's Prior Lien
Obligations.
512/463-2100
PRINTED ON RECYCLED PAPER
P.O. BOX 12548 AUSTIN, TEXAS 78711-2548
AN EQUAL EMPLOYMENT OPPORTUNITY EMPLOYER
,..
""-" City of ·Lubbock, Texas, Combination
Tax and Sewer System Subordinate
Lien Revenue Certificate of Obligation,
Series 1993 -$14,425,000
Page Two
Therefore, the Certificate is approved.
. ' ~ . . -.
No. 27209
Book No. 93-B
llpC
. -·
OFFICE OF COMPTROLLER
OF THE STATE OF TEXAS
I, John Sharp, Comptroller of Public Accounts of the State of Texas,
do hereby certify that the attachment is a true and correct copy of the
opinion of the Attorney General approving the:
City of Lubbock. Texas. Combination Tax and Sewer System Subordinate
Lien Revenue Certificate of Obligation, Series 1993
numbered I:1, of the denomination of $ 14,425.000. dated May 1. 1993, as
authorized by issuer, interest various percent, under and by authority of
which said bonds/certificates were registered in the off ice of the
Comptroller, on the 7th day of June. 1993. as appears of record on page
Q5.Q of volume .9.§. under Registration Number 55270 in the Bond Register
kept in the office of the Comptroller.
Given under my hand and seal of office, at Austin, Texas, the 7th day
of June, 1993.
<f,4s4,
JOHN SHARP
Comptroller of Public Accounts
of the State of Texas
OFFICE OF COMPTROLLER
OF THE STATE OF TEXAS
I. Arlene Chisholm. OBond Clerk [!]Assistant Bond Clerk in the office of the Comptroller of the
State of Texas, do hereby certify that, acting under the direction and authority of the Comptroller on
the 7th day of June. 1993. I signed the name of the Comptroller to the certificate of registration
endorsed upon the:
City of Lubbock, Texas. Combination Tax and Sewer System Subordinate Uen Revenue Cenificate
of Obligation, Series 1993.
numbered I:1, dated May 1, 1993, and that in signing the certificate of registration I used the
following signature:
IN WITNESS \Jl~Jt:ZJE0F I have executed this certificate this t e 7th day of June. 1993.
~~· ~~
I, John Sharp, Comptroller of Public Accounts of the State of Texas, certify that the person
who has signed the above certificate was duly designated and appointed by me under authority
vested in me by TEX. REV. CIV. STAT. ANN. art. 4362 (1969), with authority to sign my name to all
certificates of registration, and/or cancellation of bonds required by law to be registered and/or
cancelled by me, and was acting as such on the date first mentioned in this certificate, and that the
bonds/certificates described in this certificate have been duly registered in the office of the
Comptroller, as appears of record on page 25.Q of volume i§. under Registration Number~ in
the Bond Register kept in the office of the Comptroller.
GIVEN under my hand and seal of office at Austin, Texas, this the 7th day of June, 1993.
1,£s4,
JOHN SHARP
Comptroller of Public Accounts
of the State of Texas
RECEIPT OF FUNDS AND CERTIFICATE OF DELIVERY
THE STATE OF TEXAS §
§
COUNTY OF TRAVIS §
On the date hereof the following described bonds: "CITY OF
LUBBOCK, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES OF OBLIGATION SERIES 1993 11 , dated May 1, 1993, in the
aggregate principal amount of $14,425,000 (the "Certificates") were
delivered to the purchaser(s) thereof namely:
TEXAS WATER DEVELOPMENT BOARD
fallowing the receipt of immediately available funds from the
purchaser(s) in settlement of the agreed purchase price for the
Certificates as follows:
PRINCIPAL AMOUNT ----------------------------$14,425,000
TOTAL AMOUNT RECEIVED
ON DELIVERY OF THE CERTIFICATES -------------$14,425,000
Furthermore, the undersigned has on the date of this Receipt
transmitted such amount to the City's depository bank for credit to
the City's account in accordance with the instructions received.
DELIVERED this ___ JU_N_i_o_,_99_3 __ _
By:
Title:
(Bank Seal)
76309
TELEPHONE:: 214/855•8000
P'ACSIMILI!:: 214/855•8200
WRITER'S DIRECT DIAL NUMBER:
214/855-8002
FULBRIGHT & JAWORSKI
L.L.P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2eoo
DALLAS, TEXAS 75201
May 8, 1993
VIA FEDERAL EXPRESS
Ms. Betty Johnson
City Secretary
1625 18th Street
Lubbock, '1:'exas 79401
HOUSTON
WASHINGTON, D,C.
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
RE: $14,425,000 "City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Certificates of Obligation, Series 1993"
Dear Betty:
Enclosed herewith is the final ordinance authorizing the issuance of the above
described certificates. The ordinance has been modified to reflect the delivery of the
$55,000 of the Series 1991 Certificates and to include the interest rates Joe Smith
obtained from the Water Development Board. Certain of the other documents you
returned to me earlier are being changed to reflect the reduced principal amount.
Please call if you have any questions.
MSW/le
Enclosures
Very truly yours,
/YV{a4/
Mark S. Westergard
•
TEL.EPHONE:: 214/8!S!S·SOOO
P"ACSIMIL.E: 214/8!5$•8200
FULB\RIGHT & JAWORSKI
L.LP.
A REGISTERED LIMITED LIABIL.ITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2800
DALLAS, TEXAS 75201
L/·15 • 1Ll
~ tw-LJ f"l I <i r:-J!J
¾ ~JA ~
WFUTElfS OIAECT DIAL NUMBER:
214/855-8002
LONCVN
ZURICH
HONG KONG
✓
VIA FEDERAL EXPRESS
Ms. Betty Johnson
City Secretary
1625 13th Street
Lubbock, Texas 79401
April 18, 1992
RE: $14,480,000 "City of Lubbock, Texas, Combination Tax and Sewer System
Subordinate Lien Revenue Certificates of Obligation, Series 1993"
Dear Betty:
Enclosed herewith are the proceedings relating to the issuance of the above
described certificates. The enclosures are as follows:
1. Two copies of the Ordinance authorizing the issuance of the certificates.
When executed, one copy is for the City's records and one copy is to be returned to
us.
I t.j q 9" i tr""°
2. Five copies of the Certificate of City Secretary relating to passage of the
ordinance on first reading. When completed and executed, one copy is for the City's
records and four copies are to be returned to us.
8. Five copies of the Certificate of City Secretary relating to the passage of
the ordinance on second reading. When completed and executed, one copy is for the
City's files and four copies are to be returned to us.
4. Five copies of the General Certificate to be dated and executed. Retain
one copy for your files and return four copies to us. The debt service requirement
schedule attached as Exhibit A will be furnished by First Southwest Company.
5. Five copies of Signature and No-Litigation Certificate to be executed by
the Mayor and City Secretary and their signatures notarized. The seal of the City
is to be impressed on each Certificate. DO NOT DATE these Certificates as they will
be dated at the time of delivery. Return all copies to us.
76239
Ms. Betty Johnson
April 18, 1992
Page2
The signatures of the City officials must conform to the signatures of those
officials signing the Initial Certificates.
6. Three copies of the Paying Agent/Registrar Agreement relating to the
Certificates. After execution, all copies should be returned to us. We will forward
them on to Ameritrust Texas National Association.
7. Two copies each of four letters of instruction to be signed by the
appropriate City officials. Retain one copy of each letter for your files and return one
copy to us.
8. The Initial Certificate to be signed, sealed and returned to us.
9. Three copies of Form 8038-G to be signed and returned to us. We will.
complete the form and file with Internal Revenue Service after delivery of the
certificates.
Please call if you have any questions.
Very truly yours, 4µ,V
Mark S. Westergard
MSW/le
Enclosures
76239
TELEPHONE: 214/855•8000
,-ACSIMILE: 214/855·8200
WRITER'S DIRECT DIAL NUMBER:
214/855-8002
FULBRIGHT & JAWORSKI
L. L. P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2eoo
DALLAS, TEXAS 75201
April 12, 1998
HOUSTON
WASHINGTON, D.C.
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
VIA FEDERAL EXPRESS
Ms. Betty Johnson
City Secretary
1625 18th Street
Lubbock, Texas 79457
Re: City of Lubbock, Texas, Combination Tax and Sewer System Subordinate Lien
Revenue Certificates of Obligation, Series 1998
Dear Betty:
Enclosed herewith is a copy of the Ordinance authorizing the above described
bonds which will be presented to the City Council on April 22, 1998.
We trust this is the document that you needed at this time. If we can be of any
further assistance, please do not hesitate to contact us.
MSW/js
Encl.
cc: Mr. Joe W. Smith
0051585
Sincerely,
M:r~gard
TELEPHONE: 214/855•8000
F'ACSIMILE: 214/855·8200
WRITER'S DIRECT DIAL NUMBER:
214/855-8002
FULBRIGHT & JAWORSKI
L. L. P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
2200 Ross AVENUE
SUITE 2800
DALLAS, TEXAS 75201
March 15, 1993
VIA FEDERAL EXPRESS
Mr. Dan A. Hawkins, P.E.
City of Lubbock Water Utilities
600 Municipal Drive
Lubbock, Texas 79403
RE: City of Lubbock, Texas, Certificates of Obligation
Dear Dan:
HOUSTON
WASHINGTON, O.C.
AUSTIN
SAN ANTONIO
DALLAS
NEW YORK
LOS ANGELES
LONDON
ZURICH
HONG KONG
We have revised and are enclosing herewith the following proceedings relating
to the giving of notice of intention to issue certificates of obligation. Please disregard
the previous set of proceedings forwarded to you.
·Ir/'~' ~~ll. A Notice of Meeting to be posted in accordance with the memorandum
~ ~ ~c ed thereto.
. , )J-..,..,.1) 2. Five copies of the Cerj;ificate of City Secretary relating to the Resolution < ~ k» "'
...-.\\ ,,.tf' ~ approving and authorizing publication of notice of intention to issue certificates of ~Dr-,,..J.i
> ✓·' obligation. After completion and execution, one copy is for the City's records and four (Jp'. ~-~
Y ,,1:i ~ , ' opies are to be returned to us. ~ 4 'tt. 3. ,o -ti ~ (' ~ x-i\
· i{' r/t~ tJ'.. ~ 3. Two copies of the Resolution approving and authorizing publication of
~A-'O notice of intention to issue certificates of obligation. After execution, one copy is for el-~.§he City's records and one copy is to be returned to us. ~tL { -1-•d-~-,u -q3
~ ~ 4. One copy of the "Notice of Intention to Issue City of Lubbock, Texas, "''~ ~
Certificates of Obligation" for execution. This notice is to be published once a week r· 11'1'~,
for two consecutive weeks in a newspaper having general circulation in the City, the !,.1-q-
:r ii date of the first publication to be at least fifteen (15) days prior to the date stated
'l-4 therein for the passage of the ordinance authorizing the issuance of the certificates
"; of obligation.
~-1,~
/ 5. Five copies of an Affidavit of Publication to be completed and executed
by an official of the newspaper after the notice of intention has been published two
times as aforesaid. To each affidavit should be attached a clipping of the notice as
it actually appeared in the newspaper. Four copies are to be returned to us and one
copy is for the City's files.
.. . •
Mr. Dan A. Hawkins, P.E.
March 15, 1993
Page2
If you have any questions please call.
MSW/le
Enclosures
cc: Joe Smith (w/encls.)
76362
Very truly yours,
::l~gard
03-09-93
03-16-93
03-17-93
03-25-93
✓
SCHEDULE FOR SRF-C
City takes bids for construction of the Project C
phase of the Wastewater Treatment Plant Con-
struction.
The original estimate for the total project was $50,600,000. SRF Project A was issued for
$1,600,000 and SRF Project B was issued for
$34,520,000. That leaves a remaining balance of
$14,480,000 available for SRF Project C. The
total amount of the bond issue will be detennined
as a result of the bids that are received.
Item to be placed on the agenda for Council to
consider resolution approving and authorizing
publication of Notice of Intent to Issue C.O.'s
for SRF Project C.
(--Fulbright & Jaworski provides proper wording
--Betsy reviews wording and modifies as recommended by Robert
V-Betsy emails agenda item to City Secretary by 2:00pm.)
Agenda Meeting at 8:30am.
(--Betsy drafts agenda comments for approval by
Robert
--Robert submits agenda comments at the Agenda
~ng ~ubmits backup to Nita by 5:00pm which
includes the resolution that is provided by
Mark Westergard from Fulbright and Jaworski)
City Council meeting.
City Council considers resolution approving and
authorizing publication of Notice of Intent to
Issue C.O.'s for SRF Project C.
If item is approved:
(--City Secretary places advertisement (as written
by Mark Westergard) in the Avalanche Journal to
be advertised on 03-28-93 and 04-04-93
--City Secretary checkstto make sure at what was submitted to the J was what was printed in
the AJ.)
--~_z.,~
~ ,1\v.,l tv ·
;~Z-4' ~7 tr) .
.,
03-28-93
04-04-93
04-13-93
04-14-93
04-22-93
04-23-93
Notice of Intent to issue Certificates of Obligation is published in the Avalanche Journal.
Notice of Intent to issue Certificates of
Obligation is published in the Avalanche Journal.
Item to be placed on the agenda for City council
to consider ordinance approving and authorizing publication of Notice of Intent to Issue c.o.•s
for SRF Project C. (First Reading).
(--Fulbright & Jaworski provides proper wording
--Betsy reviews wording and modifies as
recomended by Robert
--Betsy emails agenda item to City Secretary
by 2:00pm.)
Agenda Meeting at 8:30am.
(--Betsy drafts agenda coments and submits to Robert for changes then approval
--Robert submits, agenda coments in Agenda
Meeting at 8:30am --Betsy provides backup to Nita by 5:00pm which
includes a copy of the ordinance as drafted by
Fulbright and Jaworski
City Council Meeting.
First reading.of the Ordinance to consider
authorizing C.O.'s for SRF Project C.
Apply for Preliminary Approval for Issue.
Due to the shortage of time between 05-13-93, the
date of the 2nd reading and 06-01-93, the date of the issue, we may need to apply for preliminary
approval from the Attorney General for this issue.
(--Betsy, working with Joe1 submits the appropriate
paperwork and check for $1250 to the Attorney
General for preliminary approval of the issue.)
05-04-93 Item to be placed on the agenda for City Council to consider ordinance approving and authorizing publication of Notice of Intent to Issue c.o.•s
for SRF Project C. (Second Reading).
(--Fulbright & Jaworski provides proper wording
--Betsy reviews wording and modifies as recommended by Robert
/--Betsy emails agenda item to City Secretary
V by2:00pm.)
✓
.//
05-05-93 Agenda Meeting at 8:30am.
(--Betsy drafts agenda coments and submits to
Robert for changes then approval
--Robert submits agenda coments in Agenda
Meeting at 8:30am
--Betsy provides backup to Nita by 5:00pm which
includes a copy of the ordinance as drafted by
Fulbright and Jaworski
05-13-93 City Council Meeting.
Second reading of the Ordinance to consider authorizing C.O.'s for SRF Project C.
..
.
~~ .ORUIN,il.NCE Ab~!{!}fi:Nll>iG £L05t~G.
~:' <, :" :' ,.~ ':• LEGAl .HOJJCES~ ""''"~ ~;~~
RELEASE NUMBER:
CITY SECRETARY:
(806) 767 .. 2026
ACCOUNT NUMBER:
PUBLISHING OATES:
DESCRIPTION:
. Betty M • .Johnson Beatriz M. Rodr19uez
1111 .. 541103-1211
DATE: s / 14 /Q?J
~{Un:!Oj • ~ . 16 I I qq3
~d 'r)e(l.dr~& Oru:l
r
APPROXIMATE COST:. -tJ 3C>l,. 3S"' words x .65 ~ cost
)\PPROXIMATE I OF WORDS: 5 67 .
•· ;.PUBLISHER'f AFFibkVtTS: q (j~f/Jc.) APPROVAL&~
· City Secretary ..
'• ·.\.· .
· H T P~:H-r Tak :
Plea.5e co.If fv ac.l(.µowlec!,e. flecerpf. ThMkS~
3 PAares Tok I .
"
SECOND READING ORDINANCES_;;"~"
-.
. ~ -"'~~~· ,.._,_!..,.1-!-,if"fl"> ........... .1.. " "._-.111,:-..~-Y-•.-'•··""'" , ..... .,., ----.. ., -·--~-, .... -.::1.t • .::..:.,.""l,.,.~~-i:.-'\!" _..., !!!!__., f.r~;-ti•n..,1::. :·Ku:_,_! ~ .... 1 ~t•-:_; .... 1r !-L· t'~!:. :"'!..' 1 .... ,·-£ LUfil!!-~":!: -t:rn , AN ORDINANCE,~ABANDONING'MD "tt~S:IHS PORT0IONS:1>f'1ltJRON .AVENUE= teeAJ'm ·r:-:r~-c--; !\ ~llY0 ,
IN SECTION 29, BLOCK A•K, TO THE CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS, AND MORE PARTICULARLY DESCRIBED IN THE BODY OF THIS ORDINANCE; DIRECTING
THE CITY ENGINEER TO HARK THE OFFICIAL MAPS OF THE CITY TO REFLECT SAID
ABANDONMENT AND CLOSING; PROVIDING A SAYINGS CLAUSE; AND PROVIDING FOR
PUBLICATION.
'ORDINANCE R0.:~9607·:: ; · · . .;;.\ ·-":' ·}····. ,,, . 1, " ·, '·-~-~ '.,·-.:'.
·:J,.·-.. ·1',1
,,, /AN ORDttlAHCE AMemING ZONING ORDINANCE HO~ 7084 AND tHE OFFICIAt. ftAP
OF,tHECCltY·oF· W880CIC MAKJHG,.IHE f'.OLLOWING:CflAHGES,; JOHE.CASE NO. 2ua .. u; ..
·A ZONING ~GE,fROM ,-R-1-$PECIFIC USE:FOR T~tans·:cOURTS TO ,~1 ·sPECIFlC 'USE
; FOR' GARDEN HOMES :oN LOT 1·1-C, tAKERIDGE COUNTRY ;CWB ESTATES, LUBBOCK,
TEXAS1 PROVIDING.A PENALTY& PROVIDING A SAVINGS"CI.AIJSEAHDPROYIDING FOR
PUBLICATION.
ORDINANCE NO. 9608
AN ORDINANCE AMENDING ZONING ORDINANCE NO. 7084 AND THE OFFICIAL MAP.·
OF THE CITY OF WBBOCK MAKING THE FOLLOWING CHANGES: ZONE CASE NO. 1893-Rt A ZONING CHANGE FROM C-2A TO A-1 ZONING ON A PORTION OF TRACT C, SHADOW
HILLS ADDITION, WBBOCK, TEXAS; SUBJECT TO CONDITIONS; PROVIDING A PENALTY; PROVIDING A SAVINGS CLAUSE AND PROVIDING FOR PUBLICATION.
ORDINANCE NO. 9609
AN ORDINANCE AMENDING ZONING ORDINANC~ HO. 7084 AND THE OFFICIAL MAP OF THE CITY OF WBBOCK MAKING THE FOLLOWING CHANGES: ZONE CASE NO. 1927-B;
A ZONING CHANGE FROM R-3 AND C-3 SPECIFIC USE TO C-2 SPECIFIC USE FOR ALL
PERMITTED C-2 USES PWS THEATRE AND STAFF OR VISITING ARTIST LIVING
QUARTERS ON THE HORTH 234 FEET OF THE WEST 79.3 FEET OF LOT 2, THE HORTH
234 FEET OF THE EAST·27 FEET OF LOT 3, THE WEST 94 FEET OF THE SOUTH l29
FEET OF LOT 4, THE VEST 83.5 FEET OF THE SOUTH 141 FEET OF LOT 3, THE·RORTH
234 · FEET OF THE EAST HALF OF LOT 1, THE NORTH 234. 7 FEET OF THE VEST HALF
OF LOT 1, THE NORTH 234 FEET OF THE EAST 31 FEET AND 2 INCHES OF LOT 2;
BLOCK 7, ELUIOOD PLACE ADDITION, LUBBOCK, TEXAS; SUBJECT TO CONDITIONS; PROVIDING A PENALTY; PROVIDING A SAYINGS CLAUSE AND PROVIDING FOR PUBLICATION.
ORDINANCE NO. 9610
AN ORDINANCE AMENDING ZONING ORDINANCE NO. 7084 AND THE OFFICIAL MAP
OF THE CITY OF LUBBOCK MAKING THE FOLLOWING CHANGES: ZONE CASE NO. 1893-Q;
A ZONING CHANGE FROM R-1 SPECIFIC USE TO C-2 ZONING ON TRACT B-2, SHADOW
HILLS ADDITION, LUBBOCK, TEXAS; PROVIDING A PENALTY; PROVIDING A SAVINGS CLAUSE AND PROVIDING FOR PUBLICATION.
ORDINANCE NO. 9611
.AN ORDINANCE AMENDING ORDINANCE NO. 9591 OF THE CITY OF UJBBOCK,
TWS,JIITH .REGARD .. to·. THE· .MET£$ .. AND'.80UNDS ... DESCRIPTIOHS .• OF.,:LVBBOCK;$PUTH
. Elfl'ERPRISE ZONE·•~ LUBBOCK/NORTH :ENTERPRISE ;ZONE1 PROViDltfJFAlf:Atmfl)MENT . tTO 'tHE·AUA .OF tUB80CK NORTH .. ENTERPlllSE ZONEt 91lOYIDING .AN 1MENDMEHT. TO. THE · :gtENSUS;JAACT;DESCRIPTJON OF WBBQCK:;HORTH :ENTERPlllSE ZONEr PttOYlDING A
i (SAYING>CIAUSE AND PROVIDING FOR}fUBLICATIONi:'' >[,: H , · ' :: ··•.· . r, ,. , ·· · ,_·· ~--~--,··_-_,· ·_-/.--_.·:-:"'. ;: :=;--~t··· .c·;.: <~~ -:·;~rrr:~~·~_;\7-:J:,_-.. :;._~L-<·:_:;..::~--:<\ ·-; ·:._.~ )!;:·:~·:< ,;. . •.:. . ·
:: :·./i~:;·r/r r ~ --
oRD'INAHcE' NO. 9613
AN QRDINANCE AUTHORIZING THE ISSUANCE OF.CITY Of LUBBOCK, .TEXAS, COMBINATION TAX AND SEWER SYSTEM SUBORDINATE LIEN REVENUE CERTIFICATES Of OBLIGATION, SERIES 1993; LEVYING AH AD VALOREM TAX UPON ALL TAXABLE PROPERTY IN THE CITY AND PLmGING THE NET REVENUES OF THE CITY'S SEWER SYSTEM FOR THE PAYMENT Of SAID CERTIFICATES; PRESCRIBING THE TERMS AND
DETAILS OF SUCH CERTIFICATES AND IESOLYING OTHER MATTERS INCIDENT AND RELATED TO THE ISSUANCE, SALE. SECURITY, PAYMENT AND DELIVERY Of SAID CERTIFICATES1 AND PROVIDING AN EFFECTIVE DATE.
R1648