HomeMy WebLinkAbout032790 ORD - 06/28/2022 ORDINANCE NO.
ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF CORPUS
CHRISTI, COMBINATION TAX AND LIMITED PLEDGE REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2022A FOR
IMPROVEMENTS TO PUBLIC SAFETY, PARKS AND RECREATION,
AND CITY FACILITIES IN AN AMOUNT NOT TO EXCEED $11,500,000,
WITHIN SET PARAMETERS AND ACCORDING TO THE PLAN OF
FINANCE SET BY THE CITY'S FINANCIAL ADVISORS; PROVIDING
FOR THE PAYMENT OF SAID CERTIFICATES BY THE LEVY OF AN
AD VALOREM TAX UPON ALL TAXABLE PROPERTY WITHIN THE
CITY AND FURTHER SECURING SAID CERTIFICATES BY A LIEN ON
AND PLEDGE OF THE PLEDGED REVENUES OF THE SOLID WASTE
SYSTEM; DELEGATING AUTHORITY TO THE CITY MANAGER,
CHIEF FINANCIAL OFFICER, DIRECTOR OF FINANCE AND
PROCUREMENT AND CERTAIN OTHER AUTHORIZED OFFICIALS
TO APPROVE AND EXECUTE DOCUMENTS RELATING TO THE
ISSUANCE, SALE, AND DELIVERY OF THE BONDS; ENACTING
OTHER PROVISIONS INCIDENT AND RELATED THERETO; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council (the City Council or the Governing Body) of the City of
Corpus Christi,Texas(the City or the Issuer)has caused notice to be given of its intention to issue
certificates of obligation in the maximum principal amount not to exceed $11,500,000 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 the extent of availability of funds,
to-wit: (1)(a)constructing,acquiring,purchasing,renovating, enlarging,and improving the City's
solid waste facilities, including the solid waste facility complex and the solid waste compost
facility, (b) constructing, acquiring, purchasing, renovating, enlarging, and improving existing
City facilities, including renovations and improvements to City Hall, renovations and
improvements to the City's Health Department, and renovations and improvements to the City's
library system city-wide,(c)constructing,acquiring,purchasing,renovating,equipping,enlarging,
and improving the City's parks and recreation facilities, including a parks tourist district facility
and warehouse,and(d)constructing, acquiring,purchasing,renovating, equipping, enlarging, and
improving the City's public safety facilities, including a police training academy; (2)the purchase
of materials, supplies, equipment, machinery, landscaping, land, and rights-of-way for authorized
needs and purposes relating to the aforementioned projects; and (3)the payment of professional
services related to the design, construction, management and financing of the aforementioned
projects. This notice has been duly published in a newspaper hereby found and determined to be
of general circulation in the City, once a week for two (2) consecutive weeks,the date of the first
publication of such notice being not less than forty-five (45) days prior to the tentative date stated
therein for the final passage of the ordinance authorizing the issuance of such certificates of
obligation; and
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