HomeMy WebLinkAbout022258 RES - 06/27/1995A 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 1995-A, AND RESOLVING OTHER MATTERS RELATING TO THE
SUBJECT
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was considered 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.
PASSED AND APPROVED this the 27th day of June, 1995.
ATTEST:
ity Secretary,
City of Corpus Christi, Texas
Mayor, City of Cerus Christi, Texas
The foregoing Resolution was approved prior to passage as to form and correctness this the 27th day
of June, 1995.
City Atto\ ey,
City of Co us Christi, Texas 1
66uCi ,�.iyiF. i''
9n2 5 8
EXHIBIT A
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 1995-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
its regular meeting place in the City Hall at a meeting to commence at 2 o'clock, p.m., on the 25th
day of July, 1995. The maximum amount of Revenue Bonds indebtedness that may be authorized
for such purpose is $27,640,000. 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 proposed revenue
bonds are to be sold to the Texas Water Development Board as part of its State Revolving Fund
program to provide low-interest loans to political subdivisions to construct wastewater treatment
facility improvements.
CITY OF CORPUS CHRISTI, TEXAS
Corpus Christi, Texas
27 day of Jf LUC , 19015
The above resolution was passed by the following vote:
Mary Rhodes al.f
Dr. Jack Best
Betty Black l�Q
Melody Cooper
Tony Heldenfels l l l tlL(
Betty Jean Longoria l,'41^Q�
John Longoria /pp
Edward A. Martin l;
Dr. David McNichols ,)(_/
022258