HomeMy WebLinkAboutResolution - 6127 - Approve Notice Of Intent To Issue Certificates Of Obligation And Notice Of Sales - 12/10/1998Resolution No. 6127
Item No. 32
December 10, 1998
RESOLUTION NO. 6127
A RESOLUTION approving and authorizing publication of (i) notice of intention to
issue certificates of obligation and (ii) notice of sale with respect to such
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) improvements and extensions to the City's Waterworks System, (ii) improvements
and extensions to the City's Sewer System, and (iii) professional services rendered in connection
with such projects and the financing thereof; and
WHEREAS, prior to the 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 and deems
it appropriate to publish a notice of sale with respect to such certificates of obligation in
accordance with the procedures set forth in the City's charter; now, therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS:
SECTION 1: 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 $15,355,000 for the purpose of paying contractual obligations to be incurred for (i)
improvements and extensions to the City's Waterworks System, (ii) improvements and extensions
to the City's Sewer System, and (iii) professional services rendered in connection with such
projects and the financing thereof, such certificates to be payable from ad valorem taxes and a
limited pledge of the net revenues of the City's Waterworks 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, and
such notice shall be published in a newspaper of general circulation in the City, once a week for
two consecutive weeks, the date of the first publication 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.
SECTION 2: The City Secretary is hereby authorized and directed to cause a notice of
sale relating to the sale of certificates of obligation to be published once a week for a period of
thirty (30) days; such notice of sale to read substantially in the form and content of Exhibit B
hereto attached and incorporated herein by reference as a part of this resolution for all purposes.
PASSED AND APPROVED. this December 10 1998.
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City 8ecra
(City Seal)
741767.1
Resolution No. 6127
Item No. 32
December 10, 1998
Exhibit A
NOTICE OF INTENTION TO ISSUE CITY OF
LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Lubbock, Texas, shall convene at /039
o'clock A.M. on the 28th day of January, 1999, at the City Council Chambers, Municipal
Complex, 1625 13th Street, Lubbock, Texas, and, during such meeting, the City Council will
consider the second reading and final adoption of an ordinance authorizing the issuance of
certificates of obligation in an amount not to exceed $15,355,000 for the purpose of paying
contractual obligations to be incurred for (i) improvements and extensions to the City's Waterworks
System, (ii) improvements and extensions to the City's Sewer System, (iii) professional services
rendered in connection with such projects and the financing thereof, such certificates to be
payable from ad valorem taxes and a limited pledge of the net revenues of the City's Waterworks
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.
Kaythie Darnell
City Secretary
City of Lubbock, Texas
741797.1
Resolution No. 6127
Item No. 32
December 10, 1998
Exhibit B
NOTICE OF SALE
$15,355,000
City of Lubbock, Texas, Tax and Waterworks System (Limited
Pledge) Revenue Certificates of Obligation, Series 1999
The City Council of the City of Lubbock, Texas, will convene at IV30 o'clock h M. on
January 28, 1999 at the City Council Chambers, Municipal Complex, 162513th Street, Lubbock,
Texas, to sell certificates of obligation.
A complete description of the Obligations being authorized and sold may be obtained from
the Division of Finance, City of Lubbock, P.O. Box 2000, Lubbock, Texas 79457 or from First
Southwest Company, 1700 Pacific Avenue, Suite 500, Dallas, Texas 75201, Financial
Consultants to the City.
Kaythie Darnell
City Secretary
City of Lubbock, Texas
741797.1
1
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. On the 10th day of December, 1998, a regular meeting of the City Council
of the City of Lubbock, Texas, was held at a meeting place within the City; the duly
constituted members of the Council being as follows:
WINDY SITTON MAYOR
MAX L. INCE ) MAYOR PRO TEM
ALEX "TY" COOKE )
VICTOR HERNANDEZ )
T. J. PATTERSON ) COUNCILMEMBERS
DAVID NELSON )
MARC McDOUGAL )
and all of said persons were present at said meeting, except the following:
Councilmember Victor Hernandez and Councilmember T. J. Patterson. Among other
business considered at said meeting, the attached resolution entitled:
"A RESOLUTION approving and authorizing publication of (i) notice of
intention to issue certificates of obligation and (ii) notice of sale with
respect to such 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 being made by
Councilmember Ince and seconded by Councilmember McDougal, the resolution was
finally passed and adopted by the Council to be effective immediately by the following
vote:
5 voted "For" 0 voted "Against" 0 abstained
all as shown in the official Minutes of the Council for the meeting held on the aforesaid
date.
, e .
2. 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 said City on the date of the aforesaid meeting are those persons shown above and,
according to the records of my office, advance notice of the time, place and purpose of
the meeting was given to each member of the Council; and that said meeting and the
deliberation of the aforesaid public business was open to the public and written notice of
said meeting, including the subject of the above entitled resolution, was posted and
given in advance thereof in compliance with the provisions of V.T.C.A. Government
Code, Chapter 551, as amended.
IN WITNESS THEREOF, I have hereunto signed my name officially and affixed
the seal of said City, this the 10th day of December, 1998.
(City Seal)
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