HomeMy WebLinkAboutResolution - 3222 - Insuance Of Revenue Bonds - BRA Special Facilities - Lake Alan Henry - 10/12/1989Resolution #3222
October 12, 1989
Item #19
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PREPARED BY EULBRIGHT AND JAWORSK1
RESOLUTION APPROVING A RESOLUTION AUTHORIZING THE
ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES
(LAKE ALAN HENRY) REVENUE BONDS, SERIES 1989;
PRESCRIBING THE FORM AND TERMS OF SAID BONDS;
PROVIDING FOR THE SECURITY AND PAYMENT THEREOF;
AUTHORIZING THE FORM AND USE OF THE OFFICIAL STATEMENT;
AND RESOLVING OTHER MATTERS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
CITY OF LUBBOCK §
WHEREAS, on May 11, 1989, the City of Lubbock, Texas (the "City")
and Brazos River Authority (the "Authority") entered into that certain
Water Supply Agreement (the "Contract") in order that City may obtain an
additional surface water supply; and
WHEREAS, in order to provide the additional water supply the
Authority is to construct, maintain and operate the "Project" (as defined
in the Contract); and
WHEREAS, pursuant to the Contract, upon request of the City, and
only upon its request, the Authority is to issue and sell Bonds (as
defined in the Contract) in an aggregate amount sufficient in the opinion
of the Authority and the City to pay all Project Costs (as defined in the
Contract) and to establish any funds required by the resolution
authorizing the Bonds; and
WHEREAS, the Contract provides that the initial resolution
authorizing the issuance of preconstruction bonds and construction bonds
for the Project (the "Bond Resolution") is subject to approval by the
City; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. In accordance with the Contract, the City and Authority
have determined that the Authority shall issue and sell bonds more
particularly described as "Brazos River Authority Special Facilities (Lake
Alan Henry) Revenue Bonds, Series 1989 in the aggregate amount of
$16,970,000 (the "Bonds").
SECTION Z. There has been submitted to the City the Bond Resolution
substantially in the form to be adopted by the Board of Directors (the
"Board") of the Authority on October 16, 1989 and bearing the draft date
October 10, 1989.
SECTION 3. The Bond Resolution is hereby approved by the City.
SECTION 4. The City's approval of the Bond Resolution is subject
to the review and approval of the terms of sale of the Bonds on October
16, 1989. The City expressly delegates the power of review and approval
to the Assistant City Manager for Financial Affairs. The power granted
in this section shall be exercised in accordance with the following
criteria: the Bonds are sold upon the terms and conditions as set forth
in the Notice of Sale and Bidding Instructions and Official Statement
dated September 29, 1989, and in the professional judgment of the
Assistant City Manager the terms of sale of the Bonds are feasible and
within the City's ability to pay.
SECTION 5. In the event that the Bonds are sold pursuant to the
authority granted by the Board in the Bond Resolution to the "Authorized
Officer" (as defined in the Bond Resolution), the City hereby authorizes
Robert Massengale, Assistant City Manager, on behalf of the City, to
approve the terms of the sale of the Bonds by the Authorized Officer, in
satisfaction of the requirement set forth in the Bond Resolution.
Passed by the City Council this 12th day of October
1989.
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B. C. McMINN, MAYOR
ATTEST:
to Boyd, City Secretary
APPROVED AS TO CONTENT:
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Robert Massengale, Assistant City
Manager for Financial Services
Resolution #3222
CERTIFICATE FOR
RESOLUTION APPROVING A RESOLUTION AUTHORIZING THE
ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES
(LA)CE ALAN HENRY) REVENUE BONDS, SERIES 1989;
PRESCRIBING THE FORM AND TERMS OF SAID BONDS;
PROVIDING FOR THE SECURITY AND PAYMENT THEREOF;
AUTHORIZING THE FORM AND USE OF THE OFFICIAL STATEMENT;
AND RESOLVING OTHER MATTERS RELATING TO THE SUBJECT
THE STATE OF TEXAS
COUNTY OF LUBBOCK
CITY OF LUBBOCK
We, the undersigned officers of the City of Lubbock,
Texas, hereby certify as follows:
1. The City Council of said City convened in REGULAR
MEETING ON THE 12TH DAY OF OCTOBER, 1989, at the City Hall, and
the roll was called of the duly constituted officers and
members of said City Council, to -wit:
B. C. "Peck" McMinn, Mayor
Joan Baker
Bill Maloy
Gary D. Phillips
Ranette Boyd, City Secretary
George Carpenter
T. J. Patterson
Maggie Trejo
and all of said persons were present, except the following
absentees: None , thus
constituting a quorum. Whereupon, among other business, the
following was transacted at said Meeting: a written
RESOLUTION APPROVING A RESOLUTION AUTHORIZING THE
ISSUANCE OF BRAZOS RIVER AUTHORITY SPECIAL FACILITIES
(LAKE ALAN HENRY) REVENUE BONDS, SERIES 1989;
PRESCRIBING THE FORM AND TERMS OF SAID BONDS;
PROVIDING FOR THE SECURITY AND PAYMENT THEREOF;
AUTHORIZING THE FORM AND USE OF THE OFFICIAL. STATEMENT;
AND RESOLVING OTHER MATTERS RELATING TO THE SUBJECT
was duly introduced for the consideration of said City Council
for passage and adoption. It was then duly moved and seconded
that said Resolution be adopted; and, after due discussion,
said motion, carrying with it the adoption of said Resolution,
prevailed and carried by the following vote: 7z_ voted
"For" 0 voted "Against" 0 abstained, all 'as shown
in the official Minutes of the City Council for the Meeting
held on the aforesaid date.
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2. That a true, full, and correct copy of the aforesaid
Resolution adopted at the Meeting described in the above and
foregoing paragraph is attached to and follows this Certifi-
cate; that said Resolution has been duly recorded in said City
Council's minutes of said Meeting; that the above and
foregoing paragraph is a true, full, and correct excerpt from
said City Council's minutes of said Meeting pertaining to the
adoption of said Resolution; that the persons named in the
above and foregoing paragraph are the duly chosen, qualified,
and acting officers and members of said City Council as
indicated therein; and that each of the officers and members of
said City Council was duly and sufficiently notified officially
and personally, in advance, of the time, place, and purpose of
the aforesaid Meeting, and that said Resolution would be
introduced and considered for adoption at said Meeting; and
that said Meeting was open to the public, and public notice of
the time, place, and purpose of said Meeting was given, all as
required by Vernon's Ann. Civ. St. Article 6252-17.
3. That the City Council of said City has approved, and
hereby approves, the aforesaid Resolution; that the Mayor and
the City Secretary of said City have duly signed said
Resolution; and that the Mayor and the City Secretary of said
City hereby declare that their signing of this Certificate
shall constitute the signing of the attached and following copy
of said Resolution for all purposes.
SIGNED AND SEALED the 12th day of October, 1989.
(SEAL)
City Secretary Mayor