HomeMy WebLinkAbout025031 RES - 09/24/2002A RESOLUTION
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS,
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION,
SERIES 2002; AND RESOLVING OTHER MATTERS RELAT1NG TO THE
SUBJECT
WHEREAS, the City of Corpus Christi expects to pay expenditures in connection with the
design, planning, acquisition and construction of the projects described in Exhibit A to this Resolution
prior to the issuance of the Certificates of Obligation hereinafter described; and
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 "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, 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
Certificates of Obligation as shown in said notice.
Section 3. That the facilities and improvements to be financed with proceeds from the
proposed Certificates of Obligation are to be used for the purposes described in the attached Notice
of Intention.
Section 4. That all resolutions or parts thereof in conflict herewith are hereby repealed.
025031
PASSED AND APPROVED this the 24th day of September, 2002.
City Secretary
Samuel L. l~eal, Jr. -
Mayor
The City of Corpus Christi
Approved as to legal form this the
James R. Bray, Jr.
City Attorney
Lisa Aguilar
Assistant City Attorney
day of ~a,~,h~, 2002
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EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
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 certificates of obligation
of the City to be entitled "City of Corpus Christi, Texas Combination Tax and Municipal Hotel
Occupancy Tax Revenue Certificates of Obligation, Series 2002", for the purpose of paying
contractual obligations to be incurred by the City, to-wit, the acquisition of land and the
construction of improvements to the City's Convention Center located at 1901 N. Shoreline
Boulevard, the construction of related street and drainage improvements, and the payment of
fiscal, engineering and legal fees incurred in connection therewith. The City Council tentatively
proposes to authorize the issuance of said series (one or more) of Certificates of Obligation at its
regular meeting place in the City Hall at a meeting to commence at 2 o'clock, p.m., on the 29th
day of October, 2002. The maximum amount of Certificates of Obligation indebtedness that
may be authorized to be sold on said date for such purposes described above is $35,000,000.
The City Council presently proposes to provide for payment of said series (one or more) of
Certificates of Obligation from the levy of taxes and from surplus revenues derived from the
hotel occupancy tax levied and collected by the City under authority of Chapter 351.003(c),
Texas Tax Code.
CITY OF CORPUS CHRISTI, TEXAS
/s/Samuel L. Neal, Jr.
Mayor
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Corpus Christi, Texas
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Brent Chesney
Javier Colmenero
Henry Garrett
Bill Kelly
Rex A. Kinnison
John Longoria
Jesse Noyola
Mark Scott
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