HomeMy WebLinkAbout026758 RES - 04/25/2006CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTIES OF NUECES AND SAN PATRICIO
CITY OF CORPUS CHRISTI
On this the 25th day of April, 2006, the City Council of the City of Corpus Christi, Texas
convened in Regular Meeting, with the following members of said City Council present, to -wit:
Henry Garrett
Brent Chesney,
Melody Cooper,
.lerry Garcia.
Bill Kelly.
Rex A Kinnison.
John Mares,
Jesse Noyola,
Mark Scot t
George K. Noe.
Mary Kay Fischer.
Cindy O'Brien,
Armando Chapa,
Mayor
Councilmembers
City Manager,
City Attorney,
Director of Financial Services,
City Secretary
with Cooper and Scott absent, thus constituting a quorum, at which time the following among other
business was transacted:
City Manager George K. Noe presented for the consideration of the Council a resolution
authorizing the publication ofnotice of intention to issue certificates of obligation for landfill projects.
The resolution was read by the City Secretary. The motion to pass the resolution was carried by the
folio
ing vote.
-AYES: AL members of the City Council shown present above voted
"Ave"
NAYS: None.
ABSTAIN: None.
T'he Mayor announced that the resolution had been passed. The resolution is as follows:
A 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;
AND RESOLVING OTHER MALTERS RELATING TO THE SUBJECT
'W HERE NS. 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
HERE AS. the City Council hereby finds, considers and declares that the reimbursement of
the payment by the City of such expenditures will be appropriate and consistent with the lawful
objectives of the Cite and, as such, chooses to declare its intention, in accordance with the provisions
of Section ! 150 -2 of the S Treasury Regulations, to reimburse itself for such payments at such
time as it issues the hereinafter described Certificates of Obligation, 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
CORM *S CHRISTI, TEXAS
Section I 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. Than 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 .:rs shown in said notice
Section 3 Thai the City Manager is hereby authorized to retain the services of M. E. Allison
& Co Inc as Financial Advisor, and 'McCall, Parkhurst & Horton L.L.P. as Bond Counsel, in
connection with the issuance and sale of the proposed Certificates of Obligation.
Section 4 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.
!ice 67 7'
Section ; That all costs to be reimbursed pursuant to this Resolution will be capital
expenditures, the proposed Certificates of Obligation shall be issued within 18 months of the later of
(i) the date the expenditures are paid or ( " ii) the date on which the property, with respect to which
such expenditures were made, is placed in service; and the foregoing notwithstanding, the Certificates
of Obligation will not be issued pursuant to this Resolution on a date that is more than three years
after the date any expenditure which is o he reimbursed is paid.
Section t; That al resolutions or parts thereof in conflict herewith are hereby repealed.
P \SSED AND APPROVED this the 25th day of April, 2106.
Mayor, ity of C rpus Christi, Texas
ATTEST
City Secretary. Cite of
Corpus Christi, Texas
APPROVED THIS THE � ' DAY OF APRIL_ 2006
MARY KAY FISCHER. CITY ATTORNEY
EXHIBIT A
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY Gl VEN that it is the intention of the City Council of the City of
Corpus Christi, Texas. to ssue one or more series of the interest bearing certificates of obligation of
the Cite to be entitled "C:ty of Corpus Christi, Texas Combination Tax and Solid Waste Revenue
Certificates of Obligation for the purpose of paying contractual obligations to be incurred by the
City with respect to the C!ty`s solid waste facilities, to -wit, the construction of improvements to the
City's solid waste facilities including, without limitation, paying contractual obligations to be incurred
with respect to the development of the Cefe Valenzuela landfill in the vicinity of County Road 20 and
FM 2444. for the acquisition and construction of municipal landfill waste disposal cells, cover
systems, as collection systems_ equipment, drainage facilities_ maintenance facilities, leachate
,.ollectior systems liners. environmental monitoring equipment, and other improvements necessary
o operate said landfill, and improvements to the J C Elliott landfill in the vicinity of SH 286
t Chapman Ranch Road) and SH 357 (Saratoga Boulevard) including the acquisition and construction
offinal over systems, gas collection system modifications, ground water monitoring, transfer station
mproxements and equipment, and other improvements necessary to operate said landfill, and the
payment of fiscal. engineering and legal fees incurred in connection therewith. The City Council
:entativel\° proposes 10 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 10:00 a.m., on
the 16th day of May, '0O ' The maximum amount of Certificates of Obligation indebtedness that
may be authorized to «e sold on said date for such purposes described above is $20,000,000. The
City Council presently proposes to provide for payment of said series (one or more) of Certificates
of Obligation from the le v of taxes and from surplus revenues derived from the operation of the
City's solid waste system
CITY OF CORPUS CHRISTI, TEXAS
s/ Henry Garrett
Mayor
I,HE S r \TE OF FEX_A`,
COUNTIES OF NUECES AND SAN PATRICIO
CITY OF CORPUS CHRISTI
I. the undersigned City Secretary of the City of Corpus Christi, Texas, do hereby certify that
the above and foregoing is a true, full and correct copy of a resolution passed by the City Council of
the City of Corpus Christ.• . Texas and of the minutes pertaining thereto) on the 25th day of April,
2006, authorizing the publication of notice of intent to issue Combination Tax and Solid Waste
Revenue {certificates of C►bligation. which resolution is duly of record in the minutes of said City
Council, and 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 Texas Government Code, Chapter 551.
E NECUTED t ANI)ER MN HAND AND SEAL of said City, this the 25th day of April, 2006.
Citv Secretary, City o Corpus Christi, Texas
(SEAL)