HomeMy WebLinkAbout029546 RES - 06/26/2012RESOLUTION
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS AUTHORIZING AND APPROVING PUBLICATION
OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF
OBLIGATION; COMPLYING WITH THE REQUIREMENTS
CONTAINED .IN SECURITIES AND EXCHANGE COMMISSION
RULE 15c2-12; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council (the City Council) of the City of Corpus Christi, Texas (the
City) has determined that it is advisable and necessary to issue and sell one or more series of
certificates of obligation (the Certificates) in an amount not to exceed $6,000,000 as provided
pursuant to the provisions of the Certificate of Obligation Act of 1971, as amended, Texas Local
Government Code, Section 271.041 through 271.064, for the purpose of paying contractual
obligations of the City to be incurred for making permanent public improvements and for other
public purposes, to -wit: (1) constructing, acquiring, purchasing, renovating, equipping,
enlarging, and improving the Issuer's airport facilities, (2) the purchase of materials, supplies,
equipment, land, and rights-of-way for authorized needs and purposes relating to the
aforementioned facilities; and (3) the payment of professional services related to the design,
construction, and financing of the aforementioned projects; and
WHEREAS, prior to the offering, sale, and issuance of the Certificates, the appropriate
officials of the City must review and approve the distribution of a "deemed final" preliminary
official statement (the Official Statement) in order to comply with the requirements contained in
17 C.F.R. §240.15c2-12 (the Securities and Exchange Commission Rule); and
WHEREAS, based upon their review of the Official Statement, the appropriate officials
of the City must find to the best of their knowledge and belief, after reasonable investigation, that
the representations of facts pertaining to the City contained in the Official Statement are true and
correct and that, except as disclosed in the Official Statement, there are no facts pertaining to the
City that would adversely affect the issuance of the Certificates or the City's ability to pay the
debt service requirements on the Certificates when due; and
WHEREAS, the City Council will comply with the requirements contained in the
Securities and Exchange Commission Rule concerning the creation of a contractual obligation
between the City and the proposed purchaser(s) of the Certificates (the Purchasers) to provide
the Purchasers with an Official Statement in a time and manner that will enable the Purchasers to
comply with the distribution requirements and continuing disclosure requirements contained in
the Securities and Exchange Commission Rule; and
WHEREAS, the City Council authorizes the Mayor, City Manager, City Secretary, and
.the City Attorney, as appropriate, or their designees, to review, approve, and execute any
document or certificate in order to allow the City to comply with the requirements contained in
the Securities and Exchange Commission Rule; and
WHEREAS, prior to the issuance of the Certificates, the City Council is required to
publish notice of its intention to issue the Certificates in a.newspaper of general circulation in the
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City, such notice stating (i) the time and place the City Council tentatively proposes to pass the
ordinance authorizing the issuance of the Certificates, (ii) the maximum amount proposed to be
issued, (iii) the purposes for which the Certificates are tobe issued, (iv) and the manner in which
the City Council proposes to pay the Certificates; and
WHEREAS, the City Council hereby finds and determines that such documents
pertaining to the sale of the Certificates should be approved, and the City should proceed with
the giving of notice of intention to issue the Certificates in the time, form, and manner provided
by law;
WHEREAS, the City Council hereby fords 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: The City Secretary is hereby authorized and directed to cause notice to be
published of the City Council's intention to issue the Certificates in an amount not to exceed
$6,000,000 for the purpose of paying contractual obligations of the City to be incurred for
making permanent public improvements and for other public purposes, to -wit: (1) constructing,
acquiring, purchasing, renovating, equipping, enlarging, and improving the Issuer's airport
facilities, (2) the purchase of materials, supplies, equipment, land, and rights-of-way for
authorized needs and purposes relating to the aforementioned facilities; and (3) the payment of
professional services related to the design, construction, and financing of the aforementioned
projects. The Certificates will be payable from the levy of an annual ad valorem tax, within the
limitations prescribed by law, upon all taxable property within the City and additionally from a
pledge of and lien on certain revenues derived from the operation of the City's airport facilities.
The notice hereby approved and authorized to be published shall read substantially in the form
and content of Exhibit A attached hereto, which notice is incorporated herein by reference as a
part of this Resolution for all purposes.
SECTION 2: The City Secretary shall cause the notice described in Section 1 to be
published in a newspaper of general circulation in the City, once a week for two consecutive
weeks, the date of the first publication shall be at least thirty (30) days prior to the date stated
therein for passage of the ordinance authorizing the issuance of the Certificates.
SECTION 3: The Mayor, City Manager, City Secretary, and the City Attorney, as
appropriate, or their designees, are authorized to review and approve the Official Statement
pertaining to the offering, sale, and issuance of the Certificates and to execute any document or
certificate in order to comply with the requirements contained in the Securities and Exchange
Commission Rule.
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: 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
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conflict, and the provisions of this Resolution shall be and remain controlling as to the matters
resolved herein.
SECTION 6: This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
SECTION 7: 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 8: 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, all as required by Chapter 551, as amended, Texas Government Code.
SECTION 9: This Resolution shall be in force and effect from and after the date of its
adoption, and it is so resolved.
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PASSED AND APPROVED, this the 26th day of June, 2012.
CITY OF CORPUS CHRISTI, TEXAS
Mayor
ATTEST:
City Secretary
(CITY SEAL)
APPROVED THIS 24 DAY OF TUN ( , 2012:
Carlos Valdez, City Attorney
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THE STATE OF TEXAS )(
COUNTY OF NUECES )(
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 Christi, Texas (and of the minutes pertaining thereto) on the 26th day of June,
2012, relating to establishing the City's intention to publish a notice of intention concerning the
issuance of certificates of obligation, 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
2012.
City Secretary
(CITY SEAL)
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.da of
Corpus Christi, Texas
ak_v of
, 2012
The above resolun was passed by the following vote:
Joe Adame
Chris N. Adler
Kelley Allen
Larry Elizondo, Sr.
Priscilla G. Leal
David Loeb
John E. Marez
Nelda Martinez
Mark Scott
Exhibit A
NOTICE OF INTENTION TO ISSUE
CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 2012
NOTICE IS HEREBY GIVEN that the City Council of the City of Corpus Christi, Texas
will convene at its regular meeting place in the City Hall in Corpus Christi, Texas, at 12:00
o'clock P.M., Corpus Christi, Texas time on July 31, 2012, and, during such meeting, the City
Council will consider the passage of an ordinance or ordinances and take such other actions as
may be deemed necessary to authorize the issuance of one or more series of certificates of
obligation in an aggregate principal amount not to exceed $6,000,000 for the purpose or purposes
of paying contractual obligations of the City to be incurred for making permanent public
improvements and for other public purposes, to -wit: (1) constructing, acquiring, purchasing,
renovating, equipping, enlarging, and improving the Issuer's airport facilities, (2) the purchase of
materials, supplies, equipment, land, and rights-of-way for authorized needs and purposes
relating to the aforementioned facilities; and (3) the payment of professional services related to
the design, construction, and financing of the aforementioned projects. The certificates of
obligation (the Certificates) will be payable from the levy of an annual ad valorem tax, within
the limitations prescribed by law, upon all taxable property within the City and from a lien on
and pledge of certain revenues derived by the City from the operation of the City's airport
facilities. The Certificates are to be issued, and this notice is given, under and pursuant to the
provisions of the Certificate of Obligation Act of 1971, as amended, Texas Local Government
Code Section 271.041 through Section 271.064, Chapter 22, as amended, Texas Transportation
Code, Chapter 1503, as amended, Texas Government Code, and the City's Home Rule Charter.
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A-1
/s/ Armando Chapa
City Secretary,
City of Corpus Christi, Texas
AFFIDAVIT OF PUBLICATION
THE STATE OF TEXAS
COUNTIES OF NUECES, ARANSAS,
KLEBERT, AND SAN PATRICIO
CITY OF CORPUS CHRISTI
§
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas,
on this day personally appeared , who, after being by me duly sworn,
upon oath says that he/she is a representative of , a
newspaper of general circulation in the City of Corpus Christi, Texas which newspaper satisfies
each of the requirements of Subchapter C, Chapter 2051, as amended, Texas Government Code,
so as to constitute an official publication in which legal notices may be published as set forth in
Subchapter C, Chapter 2051, as amended, Texas Government Code, and that there was published
in said newspaper a true and correct copy of the attached NOTICE OF INTENTION to issue
certificates of obligation on the following dates:
Signature
SUBSCRIBED AND SWORN TO before me, the undersigned authority, on the
day of , 2012, to verify which witness my hand and seal of office.
Notary Public in and for the
State of Texas
(NOTARY SEAL)
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