HomeMy WebLinkAboutOrdinance - 9292-1989 - Issuance Of City Bonds Annual Ad Velorum Tax $7,445,000 - 07/13/1989ORDINANCE NO. 9292
First Reading
July J.31 1989 · Item #3z
Second Reading
July 27, 1989
Item #11
AN ORDINANCE authorizing the issuance of "CITY OF
LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1989"; specifying the terms and
features of said bonds; levying a
continuing direct annual ad valorem tax for
the payment of said bonds; and resolving
other matters incident and related to the
issuance, sale, payment and delivery of
said bonds, including the approval of an
Official Statement pertaining thereto; and
providing an effective date.
WHEREAS, the City Council of the City of Lubbock, Texas,
hereby finds and determines that $7,445,000 in principal amount
of general obligation bonds approved and authorized to be
issued at elections held on November 21, 1981 and October 17,
1987, should be issued and sold at this time; a summary of the
general obligation bonds authorized at said elections, the
principal amount authorized, amounts heretofore issued and
being issued pursuant to this ordinance and amounts remaining
to be issued subsequent hereto being as follows:
Puroose
Sewer System
Imp. & Ext.
Waterworks System
Imp. & Ext.
Street Improvement
(S1gnal1zat1on,
11ght1ng and
rights-of-way)
Waterworks System
Imp. & Ext.
Sewer System
Imp. & Ext.
Pr1nc1pa1 Amounts Amounts
Date Amount Heretofore Be1ng Un1ssued
Author1zed Author1zed Issued Issued Balance
05/21/77 $3,303,000 $2,175,000 -o-$1,128,0Q.O
11/21/81 $5,226,000 $3,013,000 $1,987,000 $ 226,000
10/17/87 $13,275,000 $3,927,000 $3,300,000 $6,048,000
10/17/87 $2,810,000 $ 200,000 -o-$2,61o,ooo
10/17/87 $2,535,000 $ 377,000 $2,158,000 -o-
AND WHEREAS, the City Council hereby reserves and retains
the right to issue the balance of unissued bonds approved at
said elections in one or more installments when, in the
judgment of the Council, funds are needed to accomplish the
purposes for which such bonds were voted; now, therefore,
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK,
TEXAS:
SECTION 1: Authorization-Designation-Principal Amount-
Purpose. General obligation bonds of the City shall be and are
hereby authorized to be issued in the aggregate principal
amount of $7,445,000, to be designated and bear the title "CITY
OF LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1989"
(hereinafter referred to as the "Bonds"), for the purpose of
making permanent public improvements, to wit: $1,987,000 for
constructing improvements and extensions to the City's
Waterworks System; $2,158,000 for constructing improvements and
extensions to the City's Sanitary Sewer System; and $3,300,000
for constructing street improvements in and for said City,
including signalization, lighting, and acquisition of
rights-of-way, all in accordance with authority conferred at
the aforesaid elections and under and in strict conformity with
the Constitution and laws of the State of Texas.
SECTION 2: Fully Registered Obligations -Bond Date -
Authorized Denominations-Stated Maturities-Interest Rates. The
Bonds shall be issued as fully registered obligations only,
shall be dated August 15, 1989 (the "Bond Date"), shall be in
denominations of $5,000 or any integral multiple (within a
Stated Maturity) thereof, and shall become due and payable on
February 15 in each of the years and in principal amounts (the
"Stated Maturities .. ) in accordance with the following schedule:
Year of
Stated Maturity
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
39148
Principal
Amount
$370,000
370,000
370,000
370,000
370,000
370,000
370,000
370,000
370,000
370,000
370,000
375,000
375,000
375,000
375,000
375,000
375,000
375,000
375,000
375,000
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rates to be determined and established when the same are sold
(but in no event shall the Certificates bear interest at a net
effective rate in excess of 15% per annum calculated in the
manner required by Article 717k-2, V.A.T.c.s., as amended).
The amount of interest to be paid each payment period shall be
computed on the basis of 360-day year of twelve 30-day months
and such interest shall be payable on February 15 and Auqust 15
in each year, commencing February 15, 1990.
SECTION 3: Terms of Payment-Paying Agent/Registrar.
The principal of, premium, if any, and the interest on the
certificates, due and payable by reason of maturity, 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.
The selection and appointment of Texas Commerce Bank
National Association, Lubbock, Texas to serve as Paying
Agent/Registrar for the Certificates is hereby approved and
confirmed. 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. Interest on
the Certificates shall be paid 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 shall be paid by the
Paying Agent/Registrar (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
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shall be a Saturday, Sunday, a legal holiday, or a day when
banking institutions in the City where the principal office of
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,
2000, shall be subject to redemption prior to maturity, at the
option of the City, in whole or in part 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,
1999 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.
(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, ooo
and shall select the Certificates to be redeemed within such
Stated Maturity by lot.
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(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
principal office of the Paying Agent/Registrar only upon
presentation and surrender of the Certificates. If a
Certificate is subject by its terms to prior redemption and has
been called for redemption and notice of redemption 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 principal 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 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
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denominations by the Holder, in person or by his duly
authorized agent, upon surrender of such Certificate to the
Paying Agent/Registrar at the principal office 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, one or more new Certificates shall be
registered and issued to the assignee or transferree of the
previous Holder; such Certificates to be in authorized
denominations, of like 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 principal 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 principal
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
Certificate or Certificates registered and delivered in the
exchange or transfer therefor. Additionally, the term
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"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 27 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
30 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 such individuals or either of them shall
cease to hold such offices 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 8C, manually executed by the Comptroller of Public
Accounts of the State of Texas 1 or his duly authorized agent,
or a certificate of registration substantially in the form
provided in Section 8D 1 manually executed by an authorized
officer I employee or representative of the Paying
Agent/Registrar 1 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 Certificate(s). The Certificates
herein authorized shall be initially issued either (i) as a
single fully registered certificate in the total principal
amount of $3,800,000 with principal installments to become due
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and payable as provided in Section 2 hereof and numbered T-1,
or {ii) as twenty {20) fully registered certificates, being one
certificate for each year of maturity in the applicable
principal amount and denomination and to be numbered
consecutively from T-1 and upward {hereinafter called the
uinitial Certificate{s)") and, in either case, the Initial
Certificate(s) shall be registered in the name of the initial
purchaser{s) or the designee thereof. The Initial
Certificate(s) shall be the Certificates submitted to the
Office of the Attorney General of the State of Texas for
approval, certified and registered by 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(s), the Paying
Agent/Registrar, pursuant to written instructions from the
initial purchaser(s), or the designee thereof, shall cancel the
Initial Certificate(s) 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 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 Certifi-
cates, 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 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)
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submitted to the Attorney General of Texas may be typewritten
or photocopied or otherwise reproduced.
B. Form of Definitive Certificates.
REGISTERED
NO.
Certificate Date:
August 15, 1989
Registered OWner:
Principal Amount:
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF LUBBOCK, TEXAS,
CERTIFICATE OF OBLIGATION,
SERIES 1989
REGISTERED $ ___ _
Interest Rate: Stated Maturity: CUSIP NO:
------'
DOLLARS
The City of Lubbock (hereinafter referred to as the
11City"), a body corporate and political subdivision in the
County of Lubbock, State of Texas, for value received,
acknowledges itself indebted to and hereby promises to pay to
the order of the Registered OWner named above, or the
registered assigns thereof, on the Stated Maturity date
specified above the Principal Amount hereinabove stated (or so
much thereof as shall not have been paid upon prior redemption)
and to pay interest on the unpaid principal amount hereof from
the certificate Date at the per annum rate of interest
specified above computed on the basis of a 360-day year of
twelve 30-day months; such interest being payable on
February 15 and August 15 in each year, commencing February 15,
1990. Principal of this Certificate is payable at its Stated
Maturity or redemption to the registered owner hereof, upon
presentation and surrender, at the principal 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
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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 check
sent United States Mail, first class postage prepaid, to the
address of the registered owner recorded in the Security
Register or by such other method, acceptable to the Paying
Agent/Registrar, requested by, and at the risk and expense of,
the registered owner. 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 $3,800, ooo
(herein referred to as the "Certificates") for the purpose of
paying contractual obligations to be incurred for (i) the
purchase of any land and rights-of-way for authorized needs and
purposes, and (ii) professional services, under and in strict
conformity with the Constitution and laws of the State of
Texas, particularly the Certificate of Obligation Act of 1971,
as amended (Subchapter c of Chapter 271, Local. Government
Code), as amended, and the following provisions of the City
Charter of the City of Lubbock: Article VIII Section 1 and
Article XI Section 1, and pursuant to an Ordinance adopted by
the City Council of the City (herein referred to as the
"Ordinance").
The Certificates maturing on and after February 15, 2000,
may be redeemed prior to their Stated Maturities, at the option
of the City, in whole or in part 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,
1999, 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 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.
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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
principal office of the Paying Agent/Registrar 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. Reference is hereby made
to the Ordinance, a copy of which is on file in the principal
office of the Paying Agent/Registrar, and to all the provisions
of which the registered owner of this Certificate 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 terms and conditions
relating to the transfer or exchange of this Certificate; the
conditions upon which the Ordinance may be amended or
supplemented with or without the consent of the Holders; the
rights, duties, and obligations of the City and the Paying
Agent/Registrar; the terms and provisions upon which this
Certificate 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 principal
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 new fully registered Certificates of the
same Stated Maturity, of authorized denominations, bearing the
same rate of interest, and of the same aggregate principal
amount will be issued by the Paying Agent/Registrar to the
designated transferee or transferees.
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The City and the Paying Agent/Registrar, and any agent of
either, shall treat the registered owner 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 declared
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 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 and lien on the Net Revenues of the Golf
Course Facilities as aforestated. In case any provision in.this
Certificate 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. 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.
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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 Certificate Date.
CITY OF LUBBOCK, TEXAS
COUNTERSIGNED:
.: ~ .. ( S.EAL) ·-._ 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
{
(
(
(
REGISTER NO.
THE STATE OF TEXAS
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
this
(SEAL)
*NOTE TO PRINTER:
l929B
siqnature and seal of office
Comptroller of Public Accounts
of the State of Texas
Do Not Print on Definitive Certificates
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D. Form of Certificate of Paying Agent/Registrar to
appear on Definitive Certificates only.
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.
Registration Date: TEXAS COMMERCE BANK
NATIONAL ASSOCIATION,
LUBBOCK, TEXAS
As Paying Agent/Registrar
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:) ....................... . ...............................................................
I I I I I I I I I I I I f I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I f I I I I I I I I
(Social Security or other identifying number: ............... .
... . ....... ....•........ )the within Certificate and all rights
thereunder, and hereby irrevocably constitutes and appoints
I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I • I I I I I t I I I I I I I I I I I I I I I I I I I I I I I I I
attorney to transfer the within Certificate on the books kept
for registration thereof, with full power of substitution in
the premises.
DATED: . . . . . . . . . . . . . . . . . .
Signature guaranteed: . . . . . . . . . . . . . . . . . . . . .
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I I I I I I I I I I I I I I t I I I I I I I I I I t I I I I I I I I
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.
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F. The Initial Certificate(s) shall be in the form set
forth in paragraph B of this Section, except that the
form of a single fully registered Initial Certificate
shall be modified as follows:
( i) immediately under the name of the certificate the
headings .. Interest Rate " and "Stated
Maturity .. shall bo~t-=-h--=-b_e_c_o-mpleted "as shown
below";
(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 order of the 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
schedule in Section 2 hereof
INTEREST
RATE
and the Resolution establishing interest rates).
(or so much thereof as shall not have been prepaid prior to
maturity) and to pay interest on the unpaid principal amounts
hereof from the Certificate Date at the per annum rate(s) of
interest specified above computed on the basis of a 360-day
year of twelve 30-day months; such interest being payable on
February 15 and August 15 of each year, commencing February 15,
1990. Principal of this Certificate is payable at its Stated
Maturity or prepayment date to the registered owner hereof upon
presentation and surrender at the principal office of Texas
Commerce Bank National Association, Lubbock, Texas (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,
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. . ... ...
to the address of the registered owner recorded in the Security
Register or by such other method, acceptable to the Paying
Agent/Registrar, requested by, and at the risk and expense of,
the registered owner. 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: 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; separate books
and records relating to the receipt and disbursement of taxes
levied, assessed and collected for and on account of the
Certificates shall be kept and maintained by the City at all
times while the Certificates are OUtstanding, and the taxes
collected for the payment of the Debt Service Requirements on
the Certificates shall be deposited to the credit of a "Special
1989 Certificate Account" (the "Interest and Sinking Fund")
maintained on the records of the City and deposited in a
special fund maintained at an official depository of the City's
funds; and such tax hereby levied, and to be asssessed and
collected annually, is hereby pledged to the payment of the
Certificates.
Property officers of the City are hereby authorized and
directed to cause to be transfered to the Paying
Agent/Registrar for the Certificates, from funds on deposit in
the Interest and Sinking Fund, amounts sufficient to fully pay
and discharge promptly each installment of interest and
principal of the Certificates as the same accrues or matures;
such transfers of funds to be made in such manner as will cause
collected funds to be deposited with the Paying Agent/Registrar
on or before each principal and interest payment date for the
Certificates.
SECTION 10: Mutilated, Destroyed Lost and Stolen
Certificates. In case any Certificate of a series shall be
mutilated, or destroyed, lost or stolen, the Paying
Agent/Registrar may execute and deliver a replacement
Certificate of like series, form and tenor, and in the same
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.. .. . ...
denomination and bearing a number not contemporaneously
outstanding, in e~change and substi~ution for such mutilated
Certificate, or 1n lieu of and 1n 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 of a series shall be borne by the Holder of the
Certificate mutilated, or destroyed, lost or stolen.
Every replacement Certificate of a series issued pursuant
to this Section shall be a valid and binding obligation of such
series, and shall be entitled to all the benefits of this
Ordinance equally and ratably with all other OUtstanding
Certificates of said series; 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 11: 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 1 ien on and pledge of the Net Revenues of the
Golf Course Facilities 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 (i) money sufficient to pay in full such Certificates or
the principal amount(s) thereof at maturity or to the
redemption date therefor, together with all interest due
thereon, shall have been irrevocably deposited with and held in
trust by the Paying Agent, or an authorized escrow agent, or
(ii) Government Securities shall have been irrevocably
deposited in trust with the Paying Agent, or an authorized
escrow agent, which Government Securities have been certified
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.... ., ..
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 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 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 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 Stated 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.
The term .. Government Securities,.. as used herein, means
direct obligations of, or obligations the principal of and
interest on which are unconditionally guaranteed by the United
States of America, which are non-callable prior to the
respective Stated Maturities of the Certificates and may be
United States Treasury Obligations such as the State and Local
Government Series and may be in book-entry form.
SECTION 12: 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
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..... . .
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 therefor 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.
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:
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(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 11
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 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 multilated, destroyed, lost, or stolen
certificates which have been replaced with certificates
registered and delivered in lieu thereof as provided in
Section 10 hereof.
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SECTION 13: Covenants to Maintain Tax-Exempt Status.
(a) Definitions. When used in this Section 13, the
following terms have the following meanings:
"Code" means the Internal Revenue Code of 1986, as
amended by all legislation, if any, enacted on or before
the Issue Date.
"Computation Date" has the meaning stated in Treas.
Reg. § 1.148-8T(b)(1).
"Gross Proceeds" has the meaning stated in Treas.
Reg. § 1. 148-8T(d).
"Investment" has the meaning stated in Treas.
Reg. S 1.148-8T(e).
"Nonpurpose Investment" means any Investment in which
Gross Proceeds of the Bonds are invested and which is not
acquired to carry out the governmental purpose of the
Bonds.
"Rebatable Arbitrage" has the meaning stated in
Treas. Reg. § 1.148-2T.
"Yield of"
(1) any Investment shall be computed in
accordance with Treas. Reg. §1.148-2T, and
(2) the Bonds has the meaning stated in
Treas. Reg. § 1.148-3T.
(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 Bond 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 exemption from
federal income tax of the interest on any Bond, the City shall
comply with each of the specific covenants in this section.
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•
• • .. ,. ...
• .
(c) No Private Use or Private Payments. 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 Bonds,
(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 Bonds 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
(2) not directly or indirectly impose or accept any
charge or other payment for use of Gross Proceeds of the
Bonds 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 Bonds
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 Bonds, directly or indirectly
invest Gross Proceeds of the Bonds 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 Bonds.
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(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 Bonds 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 Bonds 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,
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(1) The City shall account for all Gross Proceeds of
the Bonds (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 Bonds until six years after the final Computation
Date. The City may, however, to the extent permitted by
law, commingle Gross Proceeds of the Bonds 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 ea:ch 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 1.148-2T and rulings thereunder, the
Reba table Arbitrage with respect to the Bonds. The City
shall maintain such calculations with the official
transcript of the proceedings relating to the issuance of
the Bonds until six years after the final Computation
Date.
(3) As additional consideration ·for the purchase of
the Bonds 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
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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. §§ 1.148-1T through 1.148-9T and rulings
thereunder.
(4) The City shall exercise re~sonable diligence to
assure that no errors are made 1n 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. § 1.148-1T(c)(2) and any penalty under Treas.
Reg. § 1.148-1T(c)(3)(ii)(B).
SECTION 14: Notices to Holders -Waivers. Wherever this
Ordinance provides for notice to Holders of any event, such
notice shall be sufficiently given (unless otherwise herein
experessly 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 15: Cancellation. All 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
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11 ~ ...
.. ..
any manner whatsoever, and
be promptly cancelled by
cancelled Certificates held
be returned to the City.
all Certificates so delivered shall
the Paying Agent/Registrar. All
by the Paying Agent/Registrar shall
SECTION 16: Sale of the Certificates. The sale of
the Certificates shall occur at a later date to be determined
by the City Council, such sale to be in accordance with the
provisions of Article 717k-2, V.A.T.c.s., as amended, with
respect to the interest rate or rates the Certificates are to
bear and the purchase price therefor. Upon the sale of the
Certificates, delivery thereof to the purchaser(s) shall occur
as soon as possible upon payment being made therefor in
accordance with the terms of sale.
SECTION 17: 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 and supply of definitive Certificates,
and shall take and have charge and control of the Initial
Certificate(s) pending the approval thereof by the Attorney
General, the registration thereof by the Comptroller of Public
Accounts and the delivery thereof to the initial purchasers.
Furthermore, the Mayor, City Secretary, City Treasurer, and
City Manager and Assistant City Manager for Financial Affairs
of the City, any one or more of 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 delivery of the Initial Certificate(s) to
the initial purchasers.
SECTION 18: Printed Opinion. The initial purchasers•
obligation to accept delivery of the Certificates is subject to
being furnished a final opinion of Fulbright & Jaworski,
Attorneys, Dallas, Texas, approving the Certificates as to
their validity, said opinion to be dated and delivered as of
the date of delivery and payment for the Certificates by the
initial purchaser. Printing of a true and correct reproduction
of said opinion on the reverse side of each of the definitive
Certificates is hereby approved and authorized.
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. . .. . , •. ' "'. --~ ~ ....
SECTION 19: Official Statement. The Official Statement
prepared in the initial offering and sale of the Certificates
by the City, together with all addendas, supplements and
amendments thereto issued on behalf of the City, is hereby
approved as to form and content, and the City Council hereby
finds that the information and data contained in said Official
Statement pertaining to the City and its financial affairs is
true and correct in all material respects and no material facts
have been omitted therefrom which are necessary to make the
statements therein, in light of the circumstances under which
they were made, not misleading. The use of such Official
Statement in the reoffering of the Certificates by the initial
purchasers is hereby approved and authorized.
SECTION 20: CUSIP Numbers. 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 the Certificates as to
legality are to be held responsible for CUSIP numbers
incorrectly printed or typed on the definitive Certificates.
SECTION 21: 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.
SECTION 22: 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 23: 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 24: Severability. If any prOVlSlon 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.
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SECTION 25: Effect of Headings. The section headings
herein are for convenience only and shall not affect the
construction hereof.
SECTION 26: Construction of Terms.
the context of this Ordinance, words of
shall be considered to include the plural,
number shall be considered to include the
of the masculine, feminine or neuter gender
to include the other genders.
If appropriate in
the singular number
words of the plural
singular, and words
shall be considered
SECTION 27: Incorporation of Findings and
Determinations. The findings and determinations of the City
contained in the preamble hereof are hereby incorporated by
reference and made a part of this Ordinance for all purposes as
if the same were restated in full in this Section.
SECTION 28: 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 29: Effective Date. This Ordinance shall take
effect and be in full force from and after its second reading
and final adoption on the date shown below.
APPROVED ON FIRST READING, the 13th day of July, 1989.
APPROVED ON SECOND READING AND PASSED AND ADOPTED, this the
27th day of July, 1989.
CITY OF LUBBOCK, TEXAS
IMaior ATTEST:
~
{City Seal)
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39298'
•
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 July, 1989, the City
Counc i 1 of the City of Lubbock, Texas, convened in regular
session at its regular meeting place in the City Hall of said
City; the duly constituted members of the Council being as
follows:
B. C. MCMINN
T. J . PATTERSON
GEORGE CARPENTER
GARY D. PHILLIPS
JOAN BAKER
MAGGIE TREJO
BILL MALOY
MAYOR
MEMBERS OF COUNCIL
all of said persons were present at said meeting,_ except the
following: . Among other business c_o_n_s~i~d~e-r-e~d~~a-t __ s_a~i~d~-m-e-e~t~in-g--,--t~h-e-attached ordinance
entitled:
AN ORDINANCE authorizing the issuance of "CITY OF
LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1989"; specifying the terms and
features of said bonds; levying a
continuing direct annual ad valorem tax for
the payment of said bonds; and resolving
other matters incident and related to the
issuance, sale, payment and delivery of
said bonds, including the approval of an
Official Statement pertaining thereto; 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
Baker and seconded by Councilmember Patterson
the ordinance was passed and adopted on first reading by the
Council by the following vote:
7 voted "For" --=-o __ voted "Against" ~ abstained
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 perons shown above and, according to the records of my
office, advance notice of the time, place and purpose of the
meeting was given to each member of the Council; and that said
meeting, 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 July, 1989.
~d~~ ·CIYSecr~
City of LubbQck, Texas
-',_ ~-{~i ty-'Seal)
' -
-2-
39128
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 27th day of July, 1989, the City
Council of the City of Lubbock, Texas, convened in regular
session at its regular meeting place in the City Hall of said
City; the duly constituted members of the Council being as
follows:
B. C. MCMINN
T. J. PATTERSON
GEORGE CARPENTER
GARY D. PHILLIPS
JOAN BAKER
MAGGIE TREJO
BILL MALOY
MAYOR
MEMBERS OF COUNCIL
all of said persons were present at said meeting,_ except the
following: . Among other business c_o_n_s~i~d~e-r-e~d~~a~t--s-a~i~d~-m-e-e~tTi-ng--,~t~h-e-attached ordinance
entitled:
AN ORDINANCE authorizing the issuance of "CITY OF
LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1989"; specifying the terms and
features of said bonds; levying a
continuing direct annual ad valorem tax for
the payment of said bonds; and resolving
other matters incident and related to the
issuance, sale, payment and delivery of
said bonds, including the approval of an
Official Statement pertaining thereto; 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
Patterson and seconded by Councilmember Trejo
the ordinance was finally passed and adopted on second and
final reading by the Council to be effective immediately by the
following vote:
7 voted "For" -""""'O_voted II Against II 0 abstained
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 perons shown above and, according to the records of my
office, advance notice of the time, place and purpose of the
meeting was given to each member of the Council; and that said
meeting, 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 27th day
of July, 1989.
~-
City of Lubbock, Texas
(City seal)
-2-
39138
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
BEFORE ME,
personally appeared
AFFIDAVIT OF PUBLICATION
the
§
§
§
§
§
after being b_y _me duly sworn, deposes and says tha
the Accoun~ "•n•••r of the Lubbock Avalanch
and that a true and correct copy of the "NOTICE
hereby attached, was published in said paper on the
dates: Ju 1, ~, 16 • 2l• 30 & Auaua t 6• 1919
IIOTIC:E OF SALE C:ITT OF 1.\IBIIOCIC, TEXAS . ... ..,.
the date of the first of such publications being at least
thirty (30) days prior to the date of the .public sale for the
obligations referred to therein.
ACCOUnt MIAIUI:Ir
Au~N TO AND SUBSCRIBED BEFORE ME, this the
-----------------' 1989.
7t" day of
Notary Public, tate ofyt~~
My Commission Expires: -----
(Notary Seal)
39938
FRANCES HERNANDEZ
Nc>!a"J Pub!ir,, Stole of T~x3!.
My Commission Expires 7-6·91
IIOTIC:E OF SALE · ·-ctTT Of' LUBBOCK. JEXAS
· The ea., Council Ot lhe Clllr of.:
Lubbock. . Texas. will receive , Haled bleb~ at 1M C:lt~r Counc:ll j
Chambers. Munic!NI Complex, ,
1625 131h Street, t.utt>od<, Tex-. '
umil 11:110 A.M., Clftlral DaYll$hl : AFFIDAVIT OF PUBLICATION Time. Thursday, August 10. tm,
for the followilllllfescribecl tlonds: .:
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
§
§
§
§
§
-~ s7,i.u.eoo i.~·~Jli~~·~?~~
CIIY If Lullbock, Teu$,' •. : :, Gtlltral Oblleali41n · · -IIIM!S. Series lftt :. ''(/• •
'C.i.d · A1111im is;· 1919i w~ndP.t ·
clUe l'llbnla, 15 llf each ""' u follows: UIO.OOO eaCII vur 1990
throueh 2000 and S31S.DOO 1ae11 vur
2001 throueh 2009: Interest Nlrlble , f'ebnla, IS, 1990. end HCh AUIIUSI , 15 and F~, 151hereafter. Tile C:ll'l' reserves the rltht, at Its -BEFO~E ME, the undersigned authority on !:·:~·:;:'r:Jo;'::
11 d T J .& f 11 I Febrvll, 15. 1999, or MY lftlerest per SOn a Y appear e --::---....:...:.•.=::•:-:"-~U~:...:..~----:::-----~~-:-IN'I'mellldatethernller,at the par after being. by me duly sworn., deposes and says that ::::;~,.:%,.-=:::~ .... ,
t h f t h L bb k A 1 h Further Information ,...., bof of>.· e Account ManBf!t r 0 e u oc va anc lained from the Ohllslan llf Fi-
and that a true and correct copy of the "NOTICE :·\;~.ur.::·~N718:
hereby attached, was published in said paper on the ~:.:~ ..... ~=:tn~~~rc
dates •. Avenue, Dallas. Texas. 75201, Fl· nam:lal Consult allis to the C:#'f.
' ' "" . · • c · Ranette loYd JulY 9t 16• 23• 30• Aueu•t 6• 1989
• · Cll'l' Secreta, n .: cnyllf Lubboclt
R·l.$6 • ,. l ____ ..;....;_..;....;_ ....
the date of the first of such publications being at· least
thirty (30) days prior to the date of the public sale for the
obligations referred to therein.
SWORN TO AND SUBSCRIBED
Au~u•t , 1989.
(Notary Seal)
l99l8
Nct::try Pubhr. Stat!'! of r"~a~
My Commis~ton Ett'-lr~s 7·6·91
Account Hanal:!er
BEFORE ME, this the 7th day of
Notary Public, State of Texas
My Commission Expires: 7-6-91
R-.187
THE STATE OF TEXAS
COUNTY OF 1P.BBOC~ H r andez
Before me ranee « n . . a Notarv P~l~~~a!ferpr Lubbock County. Texas on this day
personallyappeared T.J. Aufill• :..ccoun .a oftheSouthwesternNewspa-
pers Corporation. publishers or the Lubbock Avalanche-Journal -Morning. Evening and Sunday, who
being ~y me duly sworn.did depose ~nd ~ay t~at said n.ewspaper has been published continuously for more
than f1fty-two weeks pnor to the ftrst mserhon of th1s · . Lel!a I Notice
-------.,.---:--.--n-~-r~~ No.506378 at Lubbock County. Texas and the attached print-
ed copy of the Le £! al N ° t l.C e is a true copy of the original and was printed in the bbock
Avalanche-Journal on the following dates: · £! t 5' .1989 = 00
LUBBOCK AVALANCHE-JOURNAL
Southwestern Newspapers Corporation
Subscribed and sworn to before me this ~day ofA_u_l!_u_$_t ____ , 19 89
!feCOIIW
A.IE.AOtNG OA~NCISS
., OIU>IMAtlCE NO. 9291
AN ORDiNANCE AUTHORll·
lNG A TRAFFIC SIGNAl.. AT THE
INTERSECTION OF 19TH
STREeT AND INLER AVENUE;
AND ~OVIDJNG FOR PUBLICA·
TION. ·
FRANCES HERNAN0£1
Notary Public. State of Texas
My Commission Expires 7·6·91
(
FORMSB-10 l OROINANCENO.~~ ~---------------------------------' ORDINANCE NO. 926'1 ,.-------------------!1
AN ORDINANCE ABANDON· !NG AND CLOSING PORT.IONS .
OF TWO UNDERGROUND UTil-I• TY EASEMENTS AND TWO GAR· BAGE C.DLLECTION EASE·
MENTS l-OCATED NORTH OF S2ND STREET 'IN LUBBOCK
COUNTY, TEXAS, AND MORE
PARTICULARLY DESCRIBED
HEREINAFTER IN THIS ORO!·
NANCE; DIRECTING THE. CITY
ENGINEER TO MARK THE OF·
FICIAL MAPS OF THE CITY OF
l-UBBOCK TO 1\EFI..ECT SAID
ABANDOI>!MENT AND CLOSING;
PROVIDING A SAVJNGS
. CLAUSE; ANP PROVIDING FOR
: PUBLI.CATION.
ORDINANCE NO, 9290
AN ORDINANCE A'MENO·
, lNG SUBSECTION 16·175(al OF
' SECTION 16·175 OF THE CODE l OF ORDINANCES OF THE CITY l OF LUBBOCK TO REVISE SAID
I SUBSECTION .TO BETTER CON·
t FORM WITH STATE LAW AS RE· .
GAROS SPEED LIMITS FOR MO.. . TOR VEHICLES IN THE CITY OF I LUBBOCK PARTICULARLY i TEX.REV.CIV.STAT.ANN.ART. I 6701d, 166; PROVIDING A PEN !. ALTYI PROVIDING FOR PUBLI· CATION·AND &FI'l'CTI\f1! DATE
HEREOF.
AN ORDINANCE AUTHORIZ·
lNG THE ISSUANCE OF "CITY OF LUBBOCK, TEltAS. GENER·
AL OBLIGATION BONOS, SE· RIES 1989"; SPECIFYING "THE TERMS AND FEATURES OF 'SAID BONOS; lEVYING A CON· TINUING. OfR:E'CT Am'IU.O.tc-AG VALORE~ TAX FOR THE .PAY· MENT OF $AID BONDS; AND RESOLVING OTHER MATTER$
INCIDENT AND RELATED TO THE ISSUANCE, SAI..E, PAY·
MENT AND DELIVERY OF SAID BONOS, INCLUDING THE AP·
PROV.AL AND DISTRIBUTION OF AN OFFICIAL· STATEMENT
PERTAINING THERETO; AND
PROVIDING AN .EFFECTIVE DATE.
ORDINANCE NO. ~93
, AN ORDINANCE AU.THORIZ·
lNG THE ISSUANCE OF "CITY
OF LUBBOCK, TEXAS.CERTIFI·
CATES OF OBLIGATION, SE·
RIES.1989"; LEVYING AN AD
VALOREM T.AX UPON ALL TAX·
ABLE PROPERTY IN THE CITY
FOR THE PAYMENT OF SAID'
CERTIFICATES; SPECIFYING
THE TER~S A"'D FEATURES
OF SUCH CERTIFICATES ANQ RESOLVI!'(Q. OTHE.R MATTER$'
INCIDENT AND RELATED TO
THE ISSUANCE, SALE. SECUR!c
TY, PAYMENT AND DELIVERY OF SAID CERTIFICATES, IN· C:LUDING THE Af>PIIOVAL OF AN OFFICIAL STATEMENT RE·
LATING THERETO; AND'PRO·
' VIDINGAN EFFECTIVE DATE.
R-187