HomeMy WebLinkAbout028966 RES - 02/15/2011A RESOLUTION DETERMINING THAT CERTAIN VOLUNTARY PAVING
ASSESSMENT PETITIONS FOR BUCKHORN, OLSON, JUNIOR TERRACE,
COMANCHE, AND VIOLA STREETS ARE NOT QUALIFIED UNDER THE
VOLUNTARY PAVING ASSESSMENT PROGRAM; REMOVING SAID
STREET NAMES FROM THE LIST OF POSSIBLE STREETS IDENTIFIED
IN CONNECTION WITH THE AUTHORIZATION AND ISSUANCE OF THE
"CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS,
SERIES 2009" AND, THEREBY, ABANDONING THOSE STREET
PROJECTS AS PERMITTED EXPENDITURES OF BOND PROCEEDS;
REDIRECTING THE RESULTANT EXCESS BOND PROCEEDS TO OTHER
AUTHORIZED STREET IMPROVEMENT PROJECTS (WITH PRIORITY
GIVEN TO OTHER QUALIFIED VOLUNTARY PAVEMENT ASSESSMENT
PROGRAM PROJECTS) AS PERMITTED EXPENDITURES OF BOND
PROCEEDS; AND OTHER MATTERS RELATING TO THE FOREGOING
WHEREAS, the City Council (the Council) of the City of Corpus Christi, Texas (the
City) held an election on November 4, 2008 (the Election) for the purpose of determining
whether the resident, qualified voters of the City would, pursuant to multiple propositions,
authorize the issuance of limited ad valorem tax -supported bonds by the City for various public
improvement projects; and
WHEREAS, a majority of the resident, qualified voters of the City at the Election
approved multiple propositions authorizing the issuance of limited ad valorem tax -supported
bonds of the City, the proceeds from which would be utilized to finance various public
improvement projects within the City, one such proposition being the issuance of $104,610,000
of such bonds to finance City street improvements (the Street Authorization); and
WHEREAS, in connection with the Street Authorization, the City Council represented to
its resident, qualified voters that it would undertake specific projects within the City, including
certain street projects (being improvements to Buckhom, Olson, Junior Terrace, Comanche,
Vaky, and Viola Streets as part of the City's Voluntary Paving Assessment Program (the
VPAP)), which streets were identified in the Street Authorization as a result of the City's prior
receipt of respective petitions from a majority of the residents living on each street seeking
participation in the VPAP; and
WHEREAS, on May 27, 2009, the City issued its $88,725,000 GENERAL
IMPROVEMENT BONDS, SERIES 2009 (the Bonds), in reliance upon various authorizations
approved at the Election, including a portion of the Street Authorization in the amount of
$54,035,000; and
WHEREAS, the majority of the residents of Buckhom, Olson, Junior Terrace,
Comanche, and Viola Streets have conveyed to the City that, because they are now unwilling to
assume the financial obligation associated with VPAP participation, they no longer wish to be
included in the VPAP, which represents a change in the facts from those originally relied upon
by the City at the time it adopted the Street Authorization proposition (the Changed Condition);
and
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WHEREAS, financial participation by the residents of a street is a known and advertised
requirement of the City for a street's inclusion in the VPAP and, absent such financial
participation, the City has not budgeted sufficient funds to complete the planned improvement
thereof; and
WHEREAS, the City Council hereby finds, after careful consideration and in reliance
upon factual input from City staff, that the Changed Condition represents a material and
unforeseen change in conditions from those existing at the time of the Election and the issuance
of the Bonds, such that spending Bond proceeds on improving those identified streets
contemplated to participate in the VPAP but, for the reasons described above, will not so
participate, would now represent an unwise, unnecessary, and fiscally imprudent expenditure of
Bond proceeds, and as a result thereof, any course of action in furtherance thereof is hereby
abandoned; and
WHEREAS, those Bond proceeds allocated to improving Buckhorn, Olson, Junior
Terrace, Comanche, and Viola Streets have become surplus Bond proceeds as a result of the
hereinbefore -described abandonment and are hereby reallocated to be spent on other street
improvements (with priority given to other qualified VPAP projects) within the City, which
expenditure is permissible pursuant to the Election and the Street Authorization; and
WHEREAS, the City Council is within its legal rights under established Texas law to
abandon the street improvement projects as herein described and to reallocate or redirect Bond
proceeds to other projects authorized by the Election and the Street Authorization in the manner
described above; and
WHEREAS, the City Council hereby finds and determines that the adoption of this
Resolution is in the best interests of the residents of the City; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS THAT:
SECTION 1: As a result of the Changed Condition, which was the subject of significant
factual information and briefings concerning this matter received by the City Council from City
staff, those certain projects originally authorized under the Street Authorization and consisting of
improvements to Buckhorn, Olson, Junior Terrace, Comanche, and Viola Streets, are hereby
abandoned.
SECTION 2: As a result of the abandonment described in Section 1, Bond proceeds
previously allocated thereto and now determined to be surplus Bond proceeds are hereby
reallocated in the manner described in the recitals of this Resolution.
SECTION 3: All ordinances and resolutions, or parts thereof, which are in conflict or
inconsistent with any provision of this Resolution are hereby repealed to the extent of such
conflict, and the provisions of this Resolution shall be and remain controlling as to the matters
resolved herein.
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SECTION 4: The recitals contained in the preamble hereof are hereby found to be true,
and such recitals are hereby made a part of this Resolution for all purposes and are adopted as a
part of the judgment and findings of the City Council.
SECTION 5: This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
SECTION 6: If any provision of this Resolution or the application thereof to any person
or circumstance shall be held to be invalid, the remainder of this Resolution and the application
of such provision to other persons and circumstances shall nevertheless be valid, and the City
Council hereby declares that this Resolution would have been enacted without such invalid
provision.
SECTION 7: It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, alI as required by Chapter 551, as amended, Texas Government Code.
SECTION 8: This Resolution shall be in force and effect from and after its final
passage, and it is so resolved.
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PASSED, ADOPTED AND APPROVED on this the 15th day of February, 2011.
CITY OF CORPUS CHRISTI, TEXAS
ATTEST:
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H'r (SEAL . >.;,.
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AY OF
IN-AroviAuti
Carlos Valdez, Cityttorney
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THE STATE OF TEXAS
COUNTY OF NUECES
1, 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 Christi, Texas (and of the minutes pertaining thereto) on the 15th day of
February, 2011, concerning the City Council's abandonment of certain authorized projects and
the reallocation of resultant surplus bond proceeds, 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.
EXECUTED UNDER MY HAND AND SEAL of said City, this the 15th day of February, 2011.
Cit ,S Cretary
`(CfTY;`SEAL)
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Corpus Christi, Texas
, 2010
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Larry Elizondo, Sr.
Kevin Kieschnick
Priscilla G. Leal
John E. Marez
Nelda Martinez
Mark Scott ALLinda Strong SUll'
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