HomeMy WebLinkAbout023582 RES - 03/16/1999A RESOLUTION
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, DIRECTING
PUBLICATION OF NOTICE OF INTENTION TO ISSUE UTILITY SYSTEM REVENUE
REFUNDING AND IMPROVEMENT BONDS, SERIES 1999-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.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
Section 1. That attached hereto and marked as "Exhibit A" is a form of notice, the
form and substance of which are hereby passed and approved.
Section 2. That the City Manager 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 of Corpus Christi, Texas, once a week 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 Bonds as shown in said notice.
Section 3. That all resolutions or parts thereof in conflict herewith are hereby
repealed. �J��
PASSED AND APPROVED this the l%fflday of Walt Oh , 1999.
ATTEST:
MAYOR, City of Corpus ChTexas
City Secretary, City of Corpus Christi, Texas
APPROVED THIS THE 11 DAY OF a(//a_ , 1999:
JAMES R. BRAY, JR., CITY ATTORNEY
a/I/JAC
sh/agenda/uts2.pub
023582
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 one or more series of the interest bearing revenue bonds of the
City to be entitled "City of Corpus Christi, Texas Utility System Revenue Refunding and
Improvement Bonds", to be issued in the estimated aggregate principal amount of $13,480,000
for the purpose of improving and extending the wastewater disposal system component of the
City's combined Utility System and in the estimated aggregate principal amount of $2,270,000
for the purpose of refunding a portion of the City's outstanding Utility System Commercial Paper
Notes, Series A. The City Council tentatively proposes to authorize the issuance of said series
(one or more) of Utility System Revenue Bonds at its regular meeting place in the City Hall at a
meeting to commence at 2 o'clock, p.m., on the 20th day of April, 1999. The maximum amount
of Utility System Revenue Bond indebtedness that may be authorized to be sold on said date for
such purposes described above is $15,750,000. The City Council presently proposes to provide
for payment of such revenue bonds from net revenues of the City's combined 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, finance or refinance wastewater treatment facility improvements.
CITY OF CORPUS CHRISTI, TEXAS
/s/Samuel L. Neal, Jr
Mayor
Corpus Christi, Texas
Ath Day of L/Y1&t0h ,19 Cog
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Javier D. Colmenero
Melody Cooper
Alex L. Garcia, Jr.
Dr. Arnold Gonzales
Betty Jean Longoria
John Longoria
Edward A. Martin
Dr. David McNichols
fl
thr
A`)
dtE
358;'