HomeMy WebLinkAboutResolution - 3153 - Issuance & Sale Of GOB, & COO, Series 1989 - 07/13/1989Resolution # 3353
July 13, 1.989
Item #29
A RESOLUTION by the City Council of the City of
Lubbock, Texas, relating to the issuance and
sale of $7,445,000 "City of Lubbock, Texas,
General Obligation Bonds, Series 1989", and
$3,800,000 "City of Lubbock, Texas,
Certificates of Obligation, Series 1989"
including the approval and distribution of a
Notice of Sale and an Official Statement.
WHEREAS, a Notice sof Sale and an Official Statement
have been prepared by First Southwest Company, the financial
advisor for the City of Lubbock, Texas (the "City"), in
connection with the issuance and sale of $7,445,000 "CITY OF
LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1989" and
$3,800,000 "CITY OF LUBBOCK, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1989". The Notice of Sale and Official Statement has
been submitted to the Council and staff of the City for review
and comments; and
WHEREAS, the Council hereby finds and determines that
the information and data contained in such 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 the light of the circumstances under
which they were made, not misleading; and
WHEREAS, the Council further finds and determines that
the aforesaid documents pertaining to the sale of such
obligations should be approved and authorization should be
given to the City's financial advisor to proceed with the
distribution of such documents for the purpose of soliciting
bids for the purchase of said obligations; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK:
SECTION 1: That the Notice of Sale and the Official
Statement prepared in connection with the issuance and sale of
$7,445,000 "CITY OF LUBBOCK, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1989" and $3,800,000 "CITY OF LUBBOCK, TEXAS,
CERTIFICATES OF OBLIGATION, SERIES 1989" is hereby approved,
such document being on file in the office of the City Secretary
and incorporated herein by reference as a part of this
resolution for all purposes.
SECTION 2: That the
hereby authorized and directed
distribution of said Notice of
purposes of soliciting bids
obligations.
ATTEST:
City's financial advisor is
to proceed with the mailing and
Sale and Official Statement for
for the purchase of said
PASSED AND APPROVED, this the 13th day of July, 1989.
CC4ts::� ecretary,
City of Lubbock, Texas
(City Seal)
-2-
39388
J,
C `
Mayor, City of Lubbock, Texas
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
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
COUNCILMEMBERS
all of said persons were present at said meeting, except the
following: n/a Among other
business considered at said meeting, the attached resolution
entitled:
A RESOLUTION by the City Council of the City of
Lubbock, Texas, relating to the issuance and
sale of $7,445,000 "City of Lubbock, Texas,
General Obligation Bonds, Series 1989", and
$3,800,000 "City of Lubbock, Texas,
Certificates of Obligation, Series 1989,"
including the approval and distribution of a
Notice of Sale and an Official Statement.
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
resolution, and upon a motion made by . Councilmember
Patterson and seconded by Councilmember Carpenter
the resolution was finally passed and adopted to become
effective immediately by the Council by the following vote:
7 voted "For" 0 voted "Against" D abstained
all as shown in the official Minutes of the Council for the
meeting held on the aforesaid date.
2. That the attached resolution is a true and
correct copy of the original on file in the official records of
the City; the duly qualified and acting members of the City
Council of the City on the date of the aforesaid meeting are
those 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 resolution, was
posted and given in advance thereof in compliance with the
provisions of Article 6252-17, Section 3A, V.A.T.C.S.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said City, this the 13th day
of July, 1989.
('City Seal)
-2-
39378
4citSecretary
City of Lubbock, Texas