HomeMy WebLinkAbout031023 RES - 12/20/2016 RESOLUTION NO. 1 )310 2 3
RESOLUTION REQUESTING FINANCIAL ASSISTANCE FROM THE
TEXAS WATER DEVELOPMENT BOARD FOR THE REFUNDING OF
CITY OBLIGATIONS PREVIOUSLY ISSUED TO PAY CERTAIN COSTS
OF DESIGNING AND CONSTRUCTING IMPROVEMENTS TO THE
CITY'S UTILITY SYSTEM; AUTHORIZING CITY STAFF AND
CONSULTANTS TO COORDINATE THE SUBMISSION OF THE
APPLICATION TO THE TEXAS WATER DEVELOPMENT BOARD FOR
FUNDING FROM ITS DRINKING WATER STATE REVOLVING FUND;
AND OTHER MATTERS IN CONNECTION THEREWITH.
WHEREAS, the City of Corpus Christi, Texas (the City) deems it necessary to apply to
the Texas Water Development Board(the Board) for financial assistance; and
WHEREAS, in accordance with the rules and regulations of the Board, which govern the
procedures in making such an application, the governing body of the City is required to pass a
resolution to accompany such application; now,therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI
THAT:
1. The City hereby requests that the Board, from its Drinking Water State Revolving
Fund, grant financial assistance to the City in the amount not to exceed $51,300,000 by the
purchase of obligations of the City (the Refunding Bonds), and the receipt of the largest amount
of grant funds lawfully available from the Board, for refunding certain of the City's outstanding
debt obligations, being those obligations identified as "CITY OF CORPUS CHRISTI, TEXAS
UTILITY SYSTEM VARIABLE RATE JUNIOR LIEN REVENUE IMPROVEMENT
BONDS, SERIES 2015B", the proceeds of such obligations having been expended for the
purposes of constructing improvements to the City's combined utility system, as designed by the
City's consulting engineer. The Refunding Bonds will be issued by the City in one or more
series.
2. The City Manager or Director of Financial Services of the City is hereby
authorized to execute and submit to the Board the application for such financial assistance, and
the City Manager or Director of Financial Services of the City, together with bond counsel,
financial advisors and consulting engineers named in such application, are authorized to appear
before the Board in support of such application and to make the required assurances and
representations to the Board in accordance with the rules,regulations, and policies of the Board.
3. A certified copy of this Resolution shall be attached to the application for
financial assistance herein authorized to be prepared and submitted to the Board, and the City
Secretary of the City is authorized and directed to prepare and certify such number of copies of
this Resolution as may be required for purposes of supporting the submission of such application
to the Board.
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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.
5. All 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.
6. This Resolution shall be construed and enforced in accordance with the laws of
the State of Texas and the United States of America.
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
hereby declares that this Resolution would have been enacted without such invalid provision.
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.
9. 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 the 20th day of December,2016.
CITY OF CORPUS CHRISTI,TEXAS
Mayor
Attest:
PACLO_Zde:+1(A.C1/z
City Secretary
(SEAL)
APPROVED THIS 20TH DAY OF DECEMBER,2016:
7.7E4-50
City Attorney
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THE STATE OF TEXAS §
COUNTY OF NUECES §
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 Christi, Texas (and of the minutes pertaining thereto) on the 20th day of December, 2016,
authorizing the City to request financial assistance from the Texas Water Development Board, 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 20TH DAY OF
DECEMBER,2016.
—141J(..12_AT
City Secretary
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That the foregoing resolution was read for the first time and passed on this the 20th day of
December, 2016,by the following vote:
Dan McQueen I I Rudy Garza i °
Carolyn Vaughn I f'1 Paulette Guajardo `_ T:1
Ben Molina 0 , / 'Michael Hunter 4
Lucy Rubio ( 40 Joe McComb Li 1
Greg Smith IP I
PASSED AND APPROVED, this the Wday of U0
ATTEST: . -'-
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,A "-
Rebecca Huerta Dan McQueen
City Secretary Mayor
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