HomeMy WebLinkAboutResolution - 2349 - Notice Of Intent- Issue Certificates Of Obligation- Tax & Sewer Subordinate Lien - 06/26/1986E Resolution #2349
June 26, 1986
Agenda Item #21
A RESOLUTION approving and authorizing publication
of notice of intention to issue certificates
of obligation.
WHEREAS, the City Council of the City of Lubbock, Texas,
has determined that certificates of obligation should be issued
under and pursuant to the provisions of Article 2368a.1,
V.A.T.C.S., for the purpose of providing funds for the payment
of contractual obligations of the City incurred with respect to
(i) the purchase of (a) land for authorized needs and purposes,
to wit: a sewer farm, and (b) materials, supplies, and equip-
ment in connection therewith, and (ii) professional services;
and
WHEREAS, prior to the issuance of such certificates, the
City Council is required to publish notice of its intention to
issue the same in a newspaper of general circulation in the
City, said notice stating (i) the time and place this Council
tentatively proposes to pass the ordinance authorizing the
issuance of the certificates, (ii) the maximum amount proposed
to be issued, (iii) the purposes for which the certificates are
to be issued, and (iv) the manner in which the Council proposes
to pay the certificates; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK:
SECTION 1: That the City Secretary is hereby autho-
rized and directed to cause notice to be published of this
Council's intention to issue certificates of obligation in an
amount not to exceed $4,200,000 for the purpose of providing
funds for the payment of contractual obligations of the City
incurred with respect to (i) the purchase of (a) land for
authorized needs and purposes, to wit: a sewer farm, and (b)
materials, supplies, and equipment in connection therewith, and
(ii) professional services; such certificates of obligation to
be payable from ad valorem taxes and a limited pledge of and a
subordinate lien on the net revenues of City's Sewer System.
The notice hereby approved and authorized to be published 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.
SECTION 2: That the City Secretary shall cause the
aforesaid notice to 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 fourteen (14)
days prior to the date stated therein for the passage of the
ordinance authorizing the issuance of the certificates of
obligation.
SECTION 3: First Southwest Company is further autho-
rized and directed to prepare an "Official Statement" and an
additional "Notice of Sale", both of which are for distribution
to prospective bidders with respect to said certificates of
obligation and the same shall be reviewed by this Council at
the meeting to be held on July 31, 1986.
SECTION 4: That the fact that it is necessary for the
immediate preservation of the public peace, property, health,
or safety of the citizens of the City of Lubbock and the best
interests of the City of Lubbock to provide funds for the im-
provements herein contemplated at the earliest possible date
constitutes and creates an emergency and an urgent public ne-
cessity requiring the suspension of any rules providing for
ordinances or resolutions to be read more than one time or at
more than one meeting of the City Council, and such rules and
provisions are accordingly suspended, and this Resolution is
declared to be an emergency measure, and shall take effect and
be in full force immediately from and after its passage on the
date shown below.
PASSED AND ADOPTED, this the 26th day of June, 1986.
'16. C. '00- 5 )/_O�
Mayor, City of Lubbock, Texas
ATTEST:
`.City retary,
City of Lubbock, Texas
(City Seal)
APPROVED AS TO CONTENT:
A
Robert Massengale, Assi ant City Manager
for Financial Services
APPROVED AS TO FORM:
J C. Ross, Jr., Cit Attorney
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Resolution #2349 Exhibit A
NOTICE OF INTENTION TO ISSUE
CITY OF LUBBOCK, TEXAS, COMBINATION
TAX AND SEWER SYSTEM SUBORDINATE LIEN REVENUE
CERTIFICATES.OF OBLIGATION, SERIES 1986
TAKE NOTICE that the City Council of the City of
Lubbock, Texas, shall convene at 11:00 o'clock A.M. on the 31st
day of July, 1986, at its regular meeting place in the City
Hall of said City, and, during such meeting, the Council will
consider the passage of an ordinance authorizing the issuance
of certificates of obligation in an amount not to exceed
$4,200,000 for the purpose of providing funds for the payment
of contractual obligations of the City incurred with respect to
(i) the purchase of (a) land for authorized needs and purposes,
to wit: a sewer farm, and (b) materials, supplies, and equip-
ment, in connection therewith, and (ii) professional services;
such certificates of obligation to be payable from ad valorem
taxes and a limited pledge of and a subordinate lien on the net
revenues of the City's Sewer System. The certificates of obli-
gation are to be issued, and this notice is given, under and
pursuant to the provisions of Article 2368a.1, V.A.T.C.S.
A/
City retary,
City of Lubbock, Texas
1 7 3 2 E
CITY OF LUBBOCK
MEMO
TO: Sam Wahl
Director of Water Utilities
FROM: Ranette Boyd
City Secretary
DATE: August 22, 1986
Our permanent files are missing the agreement with West Texas Turf Farm
for municipal wastewater treatment plant sludge disposal passed by
Council on January 9, 1986. Bruce Blalack took this agreement to get
signatures on that date.
We also need the publisher's affidavit from the Avalanche -Journal for
the notice of the public hearing held on June 26, 1986, for the issuance
of Certificates of Obligation for sewer disposal operations.
We would appreciate knowing the status of these documents as soon as
possible. Thank you.
Ranette Boyd
City Secretary
RB/l j b
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