HomeMy WebLinkAbout020263 RES - 04/05/1988A RESOLUTION
APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION.
WHEREAS, the City Council of the City of Corpus Christi, Texas, has
determined that certificates of obligation should be issued under and pursuant
to the provisions of Subchapter C of Chapter 271, Local Government Code, for the
purpose of paying contractual obligations to be incurred for (i) the purchase of
land and a building (an Aquarium), (ii) the expansion of the Corpus Christi
museum, and (iii) 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
the 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
CORPUS CHRISTI, TEXAS:
SECTION 1. That the City Secretary is hereby authorized and directed
to cause notice to be published of the Council's intention to issue certificates
of obligation in the principal amount not to exceed $11,900,000 for the purpose
of paying contractual obligations to be incurred for (i) the purchase of land
and a building (an Aquarium), (ii) the expansion of the Corpus Christi museum,
and (iii) professional services, such certificates to be payable from a lien on
and pledge of certain tax increment revenues to be deposited in the Tax
Increment Fund heretofore created by the City for Reinvestment Zone Number One
established and operating under the Tax Increment Financing Act, such pledge of
tax increment revenues being junior and subordinate to any prior lien pledge of
such revenues which may hereafter be made and from ad valorem taxes. 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 before the
fourteenth day before the date stated therein for the first reading of the
ordinance authorizing the issuance of the certificates of obligation.
ATTEST:
City Secretary
AYOR
APPROVED: 3 DAY OF ti,, yve, , 19%
HAL GEORGE, CITY ATTORNEY
THE CITY OF CORPUS CHRISTI, TEXAS
20263 MICROFILMED
NOTICE OF INTENTION TO ISSUE
CITY OF CORPUS CHRISTI, TEXAS, CERTIFICATES OF OBLIGATION
TAKE NOTICE tt the City_ Cuncil of the City of Corpus Christi,
Texas, shall convene at o'clockS.V.W. on the 26th day of April, 1988, at its
regular meeting place in the City Hall of said City, and, during such meeting,
the City Council will consider the passage of an ordinance authorizing the
issuance of certificates of obligation [to be known as City of Corpus Christi,
Texas, Combination Tax and Tax Increment Fund Revenue Certificates of
Obligation, Series 1988 (Tax Increment Finance Zone Project)] in an amount not
to exceed $11,900,000 for the purpose of paying contractual obligations to be
incurred for (i) the purchase of land and a building (an Aquarium), (ii) the
expansion of the Corpus Christi museum, and (iii) professional services, such
certificates to be payable from a lien on and pledge of certain tax increment
revenues to be deposited in the Tax Increment Fund heretofore created by the
City for Reinvestment Zone Number One established and operating under the Tax
Increment Financing Act, such pledge of tax increment revenues being junior and
subordinate to any prior lien pledge of such revenues which may hereafter be
made and from ad valorem taxes. The certificates are to be issued, and this
notice is given, under and pursuant to the provisions of Subchapter C of
Chapter 271, Local Government Code.
Armando Chapa, City Secr&tary
City of Corpus Christi, Texas
206JB025.ord
The above resolution
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
99.066.01
Corpus Christi, Texas
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was passed by the following vote:
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