HomeMy WebLinkAbout031387 RES - 03/20/2018 RESOLUTION
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS AUTHORIZING AND APPROVING PUBLICATION
OF NOTICE OF INTENTION TO ISSUE NOT MORE THAN $7,500,000
IN CERTIFICATES OF OBLIGATION FOR SOLID WASTE SYSTEM
IMPROVEMENTS; 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) as taxable or tax-exempt obligations and in an
aggregate amount not to exceed $7,500,000 as provided pursuant to the provisions of the
Certificate of Obligation Act of 1971, as amended, Texas Local Government Code, Section
271.041 through Section 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)
the construction of improvements to the City's solid waste facilities, including (without
limitation) paying contractual obligations to be incurred with respect to the construction of a
waste disposal cell at the Cefe Valenzuela Landfill, (2) the purchase of materials, supplies,
equipment, machinery, landscaping, 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, management 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 City Manager, any Assistant City Manager,
the Director of Financial Services, and the City Attorney, as appropriate, or their designees, to
296Wf939
031387
INDEXED
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
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 to be 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; 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 I: 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
$7,500,000 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: (I) the
construction of improvements to the City's solid waste facilities, including (without limitation)
paying contractual obligations to be incurred with respect to the construction of a waste disposal
cell at the Cefe Valenzuela Landfill, (2) the purchase of materials, supplies, equipment,
machinery, landscaping, 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, management 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 solid waste management system. 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 I 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 City Manager, any Assistant City Manager, the Director of Financial
Services, 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
39606093 9 -2-
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
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.
[The remainder of this page intentionally left blank]
29606093 9 _3_
PASSED AND APPROVED, this the 20th day of March, 2018.
CITY OF CORPUS CHRISTI, TEXAS
LA
.y,r
ATTEST:
F
• '_AL` s
Ci Secretary
(CITY SEAL)
APPROVED THIS 20th DAY OF MARCH, 2018:
M es Risley, City Attorney
29606093 9 S-1
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 20th day of
March, 2018, 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 20th day of March, 2018.
Y(el.e-Me- 0—k_t,;/-(A
City Secretary
(CITY SEAL)
29606093.9 S-2
The foregoing resolution was read and passed on this the 20th day of March, 2018, by the
following vote:
Rudy Garza I ! Ben Molina i o
- ,
Paulette Guajardo I_4! Lucy Rubio I' d
Michael Hunter `� A. Greg Smith IA !
Debbie Lindsey-Opel 1.' hm Ya 0
Joe McComb
°i
0
PASSED AND APPROVED, this the 20th day of March, 2018.
ATTEST:
ii...preLeiez...actee
.La IM-
Re ecca Huerta J•• cComb
City Secretary ay it
29606093.9 S-3
03 1 3S7
Exhibit A
NOTICE OF INTENTION TO ISSUE
CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATES OF OBLIGATION
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, beginning at
11:30 A.M., Corpus Christi, Texas time on Tuesday, May 8, 2018, to consider at its first reading,
and beginning at 11:30 A.M., Corpus Christi, Texas time on Tuesday, May 15, 2018, to consider
at its second and final reading 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 $7,500,000 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) the construction of
improvements to the City's solid waste facilities, including (without limitation) paying
contractual obligations to be incurred with respect to the construction of a waste disposal cell at
the Cefe Valenzuela Landfill. (2) the purchase of materials, supplies, equipment. machinery,
landscaping, 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, management 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 solid waste
management system. 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, Subchapter G of Chapter 363, as
amended, Texas Health and Safety Code, and the City's Home Rule Charter.
/s/ Rebecca Huerta
City Secretary,
City of Corpus Christi, Texas
29606093 9 A-1
Caller Times
PART OF THE USA TODAY NETWORK
Certificate of NOTICE OF INTENTION
PublicationTO ISSUE CITY OF
CORPUS CHRISTI,TEXAS
CERTIFICATES OF
In Matter of Publication of: OBLIGATION
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,
beginning at 11:30 A.M.,
CORPUS CHRISTI Corpus Christi, Texas time
CITY OF CORPUS CHRISTI on Tuesday, May 8,2018,to
consider at its first read-
PO BOX 9277 ing, and beginning at 11:30
A.M., Corpus Christi, Texas
CORPUS CHRISTI,TX 78469-9277 time on Tuesday, May 15,
2018,to consider at its sec-
ond and final reading the
passage of an ordinance or
ordinances and take such
other actions as may be
deemed necessary to autho-
rize the issuance of one or
State of Wisconsin) more series of certificates
of obligation in an aggre-
))§ gate principal amount not
County of Brown) to exceed$7,500,000 for the
purpose or purposes of pay-
ing contractual obligations
I,being first duly sworn,upon oath depose and say that I am a legal of the City to be incurred for
clerk and employee of the publisher, namely, the Corpus Christi making permanent public
Caller-Times, a dailynewspaperpublished at Corpus Christi in improvements and for other
p. p public purposes, to-wit: (1)
said City and State, generally circulated in Aransas, Bee, Brooks, the construction of improve-
Duval, Jim Hogg, Jim Wells, Kleberg, Live Oak, Nueces, Refugio, ments to the City's solid
and San Patricio, Counties, and that the publication of which the waste
utfacilities
limitation)including
annexed is a true copy, was inserted in the Corpus Christi Caller- contractual obligations to
Times on the following dates: be incurred with respect to
the construction of a waste
disposal cell at the Cefe
March 25,2018 Valenzuela Landfill, (2) the
April 1,2018 purchase of materials, sup-
plies, equipment, machin-
ery, landscaping, land, and
I rights-of-way for authorized
needs and purposes relat-
ing to the aforementioned
facilities; and (3) the pay-
ment of professional ser-
Leg. Clerk vices related to the design,
construction, manage-
ment and financing of the
On this April 2 018, I certify that the attached document is a true aforementioned projects.
and exact copy made by publisher. The certificates of obliga-
tion (the Certificates) will
be payable from the levy of
an annual ad valorem tax,
• G�I�. �i within the limitations pre-
scribed by law, upon all
taxable property within the
Notary OPuc,Stat o ISCOn in,County of Brown City and from a lien on and
pledge of certain revenues
derived by the City from the
operation of the City's solid
waste management sys-
tem.The Certificates are to
be issued, and this notice
is given, under and pursu-
s�ttttttli�l�l� ant to the provisionsoof the
\\\ `! FFAct
Ty' C�%,� of 1971, as te amended!Texas
-Vs*' %i Local Government Code
_ Section 271.041 through
:' �OTAR y — Section 271.064,Subchapter
G of Chapter 363,as amend-
_ Epp•401. - ed,Texas Health and Safety
' PIJg��G 2= Code, and the City's Home
•, Rule Charter.
•. �� /s/Rebecca Huert
p �$' City Secretary
''///4..
���/F OFW 1� \\��.�
�tCity of Corpus Christi,Texas
Ad#: 1964577
P.O.:
#of Affidavits:0
NOTICE OF INTENTION
TO ISSUE CITY OF
CORPUS CHRISTI,TEXAS
CERTIFICATES OF
OBLIGATION
NOTICE IS HEREBY GIVEN
that the City Council of the
City of Corpus Christi,Texas
will convene at its regular
C\J meeting place in the City
�1 Hall in Corpus Christi,Texas,
beginning at 11:30 A.M.,
_ Corpus Christi, Texas time
on Tuesday, May 8, 2018,to
consider at its first read-
ing,
and beginning at 11:30
A.M.,timexas
Corpus
on Tuesday,uesday, Maye 15,
rJ i 2018,to consider at its sec-
"z
and final reading the
—= passage of an ordinance or
ordinances and take such
c a other actions as may be
deemed necessary to autho-
rizeo the issuance of one or
more series of certificates
of obligation in an aggre-
gate principal amount not
to exceed$7,500,000 for the
purpose or purposes of pay-
ing contractual obligations
of the City to be incurred for
making permanent public
improvements and for other
public purposes, to-wit: (1)
the construction of improve-
ments to the City's solid
waste facilities, including
(without limitation) paying
contractual obligations to
be incurred with respect to
the construction of a waste
disposal cell at the Cefe
Valenzuela Landfill, (2) the
purchase of materials, sup-
plies, equipment, machin-
ery, landscaping, land, and
rights-of-way for authorized
needs and purposes relat-
ing to the aforementioned
facilities; and (3) the pay-
ment of professional ser-
vices related to the design,
construction, manage-
ment and financing of the
aforementioned projects.
The certificates of obliga-
tion (the Certificates) will
be payable from the levy of
an annual ad valorem tax,
within the limitations pre-
scribed 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 solid
waste management sys-
tem.The Certificates are to
be issued, and this notice
is given, under and pursu-
ant to the provisions of the
Certificate of Obligation Act
of 1971, as amended, Texas
Local Government Code
Section 271.041 through
Section 271.064,Subchapter
G of Chapter 363,as amend-
ed,Texas Health and Safety
Code, and the City's Home
Rule Charter.
/s/Rebecca Huert
City Secretary
City of Corpus Christi,Texas