HomeMy WebLinkAboutResolution - 2016-R0297 - Approve Bond Issuance For Lubbock Christian University - 08/25/2016Resolution No.2016-R0297
Item No.7.10
August 25.2016
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
WHEREAS,Lubbock Educational Facilities Authority,Inc. (the "Issuer")was
created by the City of Lubbock,Texas (the "City");and
WHEREAS,Lubbock Christian University (the "University")has requested the
Issuer to issue, and the Issuer proposes to issue, bonds in an aggregate principal amount
not to exceed $22,500,000 designated the Lubbock Educational Facilities Authority, Inc.
Refunding and Improvement Revenue Bonds (Lubbock Christian University),Series 2016
(the "Bonds")to (i) finance, refinance or reimburse costs of the acquisition,construction,
renovation, equipment or other improvement of an educational facility or housing facility
or any facility incidental, subordinate, or related to or appropriate in connection with an
educational facility or housing facility, or for acquiring land to be used for those purposes,
(ii) refund all or portionsof certain outstanding indebtedness of the Universityconsisting
of the Lubbock Educational FacilityAuthority. Inc.. Refunding and Improvement Revenue
Bonds (Lubbock Christian University),Series 2007.for debt service savings,and (iii) to
pay all or a portion of the costs of issuance of the Bonds (collectively, the "Use of
Proceeds");and
WHEREAS,pursuant to Section 147(f)of the Internal Revenue Code of 1986,as
amended (the "Code"), the issuance of the Bonds by the Issuer must be approved by the
City;and
WHEREAS,pursuant to Section 147(f)of the Code, the Issuer has, following notice
duly given, held a public hearing regarding the issuance of the Bonds and now desires to
havethe City Council of the City(the"City Council")approvethe issuancethereof;and
WHEREAS,the Issuer's Bylaws require (i) the City to approve issuance of the
Bonds by written ordinance or resolution of the City Council and (ii) the Issuer to provide
the City withcertain information withrespectto the Bonds(the "Bond Information");and
WHEREAS,it is deemed necessary and advisable thatthis Resolution be adopted.
THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF LUBBOCK,
TEXAS THAT:
Section 1.The "RESOLUTION AUTHORIZING LUBBOCK EDUCATIONAL
FACILITIES AUTHORITY,INC.REFUNDING AND IMPROVEMENT REVENUE
BONDS,(LUBBOCK CHRISTIAN UNIVERSITY),SERIES 2016; AND OTHER
MATTERS IN CONNECTION THEREWITH"in substantially the form and substance
presented to the City Council, is hereby specifically approved,and the Agreement,the
Indenture, and the Bond Purchase Agreement described therein are hereby specifically
approved,andthe Bondsapprovedtherebyinone or moreseriesinthe maximum principal
amount not to exceed $22,500,000 may be issued pursuant thereto for the Use of Proceeds
described above.
RES.l.CU-2016 Refunding Improvement Bonds (Tlil-'RA Approval)8-15-16
Section 2. The foregoing approval shall constitute the City Council's approval
of issuance of the Bonds, as required by the Issuer's Bylaws;
Section 3. The City Council hereby acknowledges receipt of the Bond
Information in the form of a letter from RBC Capital Markets LLC, financial advisor to the
City and the University, and such Bond Information shall constitute all information and
materials required to be provided by the Issuer to the City in accordance with the Issuer's
Bylaws;
Section 4. The Mayor of the City shall provide the "highest elected official"
approval for the issuance of the Bonds, in furtherance of the provisions of Section 147(f)
of the Code, and such approval may be in the form of a certificate duly executed by the
Mayor.
Section 5. The forgoing approval is given in accordance with the Issuer's
Bylaws and Section 147(f) of the Code and for no other purposes and is not to be construed
as an undertaking by the City. The Bonds shall not constitute a liability, indebtedness, or
an obligation of the City nor shall any of the assets of the City be pledged to the payment
of the Bonds.
Section 6. This Resolution shall be effective immediately upon its adoption.
Passed by the City Council on the 25th
day of August
DANIEL M. PO E, MAYOR
ATTEST:
,Q1,�,,,-.,Jkr
kL
Rebe ca Garza, City Secretat
APPROVED AS TO CONTENT:
oe,'4 C, Q%ti
Linda Cuellar, Acting Executive Director of Finance
APPROVED AS TO FORM:
Amy eputy Ci ney
01111061
RES.LCU-2016 Refunding Improvement Bonds (TEFRA Approval) 8.15-16
EXHIBIT A
(Attached)
HOU:3700474.1
CERTIFICATE OF PUBLIC HEARING OFFICER
REGARDING PUBLIC HEARING (INTERNAL REVENUE CODE S 147(t))
LUBBOCK EDUCATIONAL FACILITIES AUTHORITY, INC.
REFUNDING AND RvTROVEMENT REVENUE BONDS
(LUBBOCK CHRISTIAN UNIVERSITY),
SERIES 2016
I, the undersigned, do hereby make and execute this certificate for the benefit of all
persons interested in the issuance of the above -referenced bonds (collectively, the `Bonds').
I hereby certify as follows:
I am the duly appointed hearing officer for the public hearing which was held in
ronnection with the issuance of the Bonds at the time and place indicated in the
Notice of Public Hearing included in Exhibit A attached hereto.
2. Notice of the public hearing was published no less than 14 days before the date of
the public hearing in the Lubbock Avalanche -Journal, as evidenced by the
Affidavit of Publication of the Notice of Public Hearing attached hereto as
Exhibit A.
All persons appearing at the public hearing were given an opportunity to comment
on the proposed issuance of the Bonds and the project to be financed with
proceeds of the Bonds. No such persons appeared or made comments except as is
set forth on Exhibit B attached hereto.
4. After giving all interested persons an opportunity to appear and comment, the
public hearing was declared closed.
HOU:3700472.1
WITNESS MY HAND this day of 2016.
I
Carolyn mp n
' g Offic
Exhibit A - Affidavit of Publication of the Notice of Public Hearing
Exhibit B - Names and Comments of Persons Attending Public Hearing
HOU3700472.1
-:110
AFFIDAVIT OF PUBLICATION OF THE NOTICE OF PUBLIC HEARING
ATTACHED
HOU:3700472.1
AFFIDAVIT OF PUBLICATION
STATE OF TEXAS
COUNTY OF LUBBOCK
B.t, EFOIE ME, the undersigned authority, on this day personally appeared
T�
( of the Lubbock Avalanche -Journal, a newspaper published in the
County of Lubbock, Texas, who, being by me duly sworn, upon oath deposes and says:
That said newspaper is of general circulation in Lubbock, Texas (the "City"), and that the
attached "NOTICE OF PUBLIC HEARING" was published in said newspaper in its issue of
August 10, 2016; and that said newspaper complies with the provisions of Section 2051.044, Texas
Government Code, in that:
(1) it devotes not less than twenty-five percent (25%) of its total -column lineage to
items of general interest,
(2) it is published not less frequently than once each week,
(3) it is entered as a second-class postal matter in the county in which it is published,
and
(4) it has been published regularly and continuously for not less than twelve (12)
months prior to the date on which the City published the attached notice in said
newspaper.
By(�4
Title:
.RIBED AND SWORN TO before me this the oCCa�L ry 6 day of 2016.
Notary Public, ate of&exas My commission expires: 5— 13 y
(Notary Seal)
CARLYPYBURN
Notary PubIC, Stale of Texas
Notary 1D1131IB812H
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NAMES AND CONIMENTS OF PERSONS ATTENDING PUBLIC HEARING
NONE
HOU.3700472.1
CERTIFICATE OF THE MAYOR OF
THE CITY OF LUBBOCK, TEXAS
Lubbock Educational Facilities Authority, Inc.
Refunding and Improvement Revenue Bonds (Lubbock Christian University),
Series 2016
The undersigned Mayor of the City of Lubbock, Texas (the "City") hereby certifies with
respect to the issuance by the Lubbock Educational Facilities Authority, Inc. (the "Issuer") of its
Refunding and Improvement Revenue Bonds (Lubbock Christian University), Series 2016 (the
"Bonds"), that:
1. This certificate is based upon the CERTIFICATE OF PUBLIC HEARING
OFFICER REGARDING PUBLIC HEARING attached hereto as Exhibit A relating to the
public hearing (the "Public Hearing") conducted on the date indicated in the Affidavit of
Publication attached to such Certificate of Public Hearing by the duly appointed hearing officer
(the "Hearing Officer") of (i) the Issuer and (ii) Lubbock Christian University (the "University")
in accordance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as
amended (the "Code"); and
2. Solely for purposes of the approval requirements of the aforesaid Section 147(f)
of the Code, and for no other purpose, in my capacity as Mayor, I hereby approve the Bonds, the
facilities of the University to be financed or refinanced with the proceeds of the Bonds, and
hereby ratify and approve all actions taken by or on behalf of the City with respect to the
appointment of the Hearing Officer, the publication of the Notice of the Public Hearing as
reflected in the Affidavit of Publication attached as Exhibit A to the attached Certificate of
Public Hearing Officer, and the conducting of such Public Hearing.
THIS APPROVAL SHALL NOT BE CONSTRUED AS (1) A REPRESENTATION OR
WARRANTY BY THE CITY, THE MAYOR OF THE CITY, THE STATE OF TEXAS
OR ANY OTHER AGENCY, INSTRUMENTALITY OR POLITICAL SUBDIVISION OF
THE STATE OF TEXAS THAT THE BONDS WILL BE PAID OR THAT ANY
OBLIGATIONS ASSUMED BY ANY OF THE PARTIES UNDER THE INSTRUMENTS
DELIVERED IN CONNECTION WITH THE BONDS WILL IN FACT BE
PERFORMED; (2) A PLEDGE OF THE FAITH AND CREDIT OF THE CITY OR THE
STATE OF TEXAS OR ANY AGENCY, INSTRUMENTALITY OR POLITICAL
SUBDIVISION OF THE STATE OF TEXAS OR THE CITY; OR (3) A
REPRESENTATION OR WARRANTY BY THE CITY CONCERNING THE VALIDITY
OF THE CORPORATE EXISTENCE OF THE ISSUER OR THE UNIVERSITY OR
THE VALIDITY OF THE BONDS.
Date: August 25 12016
Dan Pope, Ma or
City of Lubbock, Texas
HOU:3700474.1
No.2016-R0298
No. 7.11
25, 2016
RESOLUTION NO.2016-R0298
WHEREAS, Section 143.006 of the Local Government Code requires
appointment of persons to the Civil Service Commission of the City of Lubbock to be
made by the municipality's chief executive and confirmed by the municipality's
governing body;
WHEREAS, Civil Service Commissioner Adrienne Cozart's third consecutive
term will end on October 1, 2016;
WHEREAS, it is the desire and intent of the City Manager of Lubbock to
reappoint Adrienne Cozart to a fourth consecutive term on the Civil Service
Commission;
WHEREAS, Texas Local Government Code Section 143.006(c)(5) provides
that a person appointed to the commission must not have held a public office within
the preceding three years;
WHEREAS, service on the Civil Service Commission is service in a public
office;
WHEREAS, Section 143.006(c-1) provides that, notwithstanding Subsection
(c)(5), the municipality's chief executive may reappoint a commission member to
consecutive terms; and
WHEREAS, Section 143.006(c-1) provides that a commission member may
not be reappointed to more than a third consecutive term unless the member's
reappointment to a fourth or subsequent consecutive term is confirmed by a two-
thirds majority of all the members of the municipality's governing body;
BE ff RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of' the City of Lubbock hereby confirms the
reappointment of Adrienne Cozart by City Manager James Loomis for a fourth
consecutive term of office of three years as a member of the Civil Service
Commission of the City of Lubbock, to begin October 1, 2016.
Passed by the City Council on August 25 2016.
DANIEI. M. P PE, MAYOR
ATTEST�:
iebe a.Garza, City Secretar
DVED AS TO CONTENT:
Loomis. City Manager
APPROVED AS TO
Sry Commission Reappl-ACocarll4lh Ifemyduc