HomeMy WebLinkAboutResolution - 2375 - Official Statement For Certificates Of Obligation - 07/10/1986Resolution #2375
A RESOLUTION by the City Council of the City of
Lubbock, Texas,'' relating to the issuance and
sale of $4,200,000 "C`ITY OF LUBBOCK, TEXAS,
COMBINATION' TAX AND SEWER SYSTEM SUBORDINATE
LIEN REVENUE .CERTIFICATES OF OBLIGATION,
SERIES 1986," including the approval and
distribution of a Notice of Sale and an
Official Statement.
WHEREAS, a Notice of Sale and an Official Statement have
been prepared by First Southwest Company, the City's financial
advisor, in connection with the issuance and sale of $4,200,000
"CITY OF LUBBOCK, TEXAS, COMBINATION TAX AND SEWER SYSTEM
SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION, SERIES
1986" and 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 state-
ments 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 certifi-
cates of obligation 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 certificates of obligation; 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
$4,200,000 "CITY OF LUBBOCK, TEXAS, COMBINATION TAX AND :SEWER
SYSTEM SUBORDINATE LIEN REVENUE CERTIFICATES OF OBLIGATION,
SERIES 1986" are hereby approved, such documents 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 City's financial advisor is hereby
authorized and directed to proceed with the mailing and distri-
bution of said Notice of Sale and Official Statement for pur-
poses of soliciting bids for the purchase of said certificates
of obligation.
'r
SECTION 3`: 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 and 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 APPROVED, this the 14th day of July, 1986.
tC
Mayor, City of Lubbock, Texas
ATTEST: -
City ecretary,
City of Lubbock, Texas
(City Seal)
2 t 0 3 E
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