HomeMy WebLinkAbout021933 RES - 05/17/1994A RESOLUTION
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS,
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
UTILITY SYSTEM REVENUE BONDS, SERIES 1994-A; AND
RESOLVING OTHER MATTERS RELATING TO THE SUBJECT.
WHEREAS, it is hereby officially found and determined
that a meeting at which this Resolution is to be considered is
required as soon as possible and without delay for the immediate
and efficient utilization of physical resources in the city and for
the efficient and effective administration of the City's affairs;
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 Chapter 551, Texas Government Code, as amended.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CORPUS CHRISTI, TEXAS:
SECTION 1. That attached hereto and marked "Exhibit A"
is a form of notice, the form and substance of which are hereby
passed and approved.
SECTION 2. That the City Secretary shall cause said
notice to be published, in substantially the form attached hereto,
in the Corpus Christi Caller -Times, a newspaper of general
circulation in the City, for two consecutive weeks, the date of the
first publication to be before the fourteenth day before the day
tentatively proposed for authorizing the issuance of the Revenue
Bonds as shown in said notice.
SECTION 3. That the City Manager, the Director of
Finance, and all other appropriate officers of the City are hereby
authorized to execute such documents and certificates necessary to
evidence the intent of the City to reimburse expenditures for such
projects to be financed from the proceeds of the proposed Revenue
Bonds.
SECTION 4. That all ordinance and resolutions or parts
thereof in conflict herewith are hereby repealed.
ATTEST:
APPROVED: 13 DAY OF nal
Ill
JAMES R. BRAY, CITY ATTORNEY
Cit
Attorney
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MAYOR
THE C_1"6/ OF CORPUS CHRISTI
19 41 1
21. 3 3
tatatifiLNIED
NOTICE OF INTENTION TO ISSUE
UTILITY SYSTEM REVENUE BONDS
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
Corpus Christi, Texas, to issue the interest bearing revenue bonds of the City entitled "City
of Corpus Christi, Texas Utility System Revenue Bonds, Series 1994-A," for the purpose of
financing the costs of extending and improving the wastewater disposal system component
of the City's combined Utility System. The City Council tentatively proposes to authorize the
issuance of said Revenue Bonds at it regular meeting place in City Hall at a meeting to
commence at 2 o'clock p.m. on the 14th day of June, 1994. The maximum amount of
Revenue Bonds indebtedness that may be authorized for such purpose is $8,520,000. The
interest rate or rates to be borne by said Revenue Bonds shall not result in the "net effective
interest rate" on said Revenue Bonds exceeding the maximum rate permitted by Texas law.
The City Council shall provide for payment of such Revenue Bonds from the Pledged
Revenues derived from the operation of the City's Utility System. The City intends to
authorize the sale of such Revenue Bonds to the Texas Water Development Board ("TWDB")
in conjunction with the State Revolving Fund program operated by the TWDB.
CITY OF CORPUS CHRISTI, TEXAS
Maybr�
603.revbnd.pub
Corpus Christi, Texas
19
1'j day of
The above resolution was passed by the following vote:
Mary Rhodes
Dr. Jack Best
Melody Cooper
Cezar Galindo
Betty Jean Longoria
Edward A. Martin
Dr. David McNichols
David Noyola
Clif Moss
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