HomeMy WebLinkAbout033066 ORD - 06/13/2023ORDINANCE NO.
ORDINANCE AUTHORIZING THE ISSUANCE OF `CITY OF CORPUS
CHRISTI, TEXAS COMBINATION TAX AND LIMITED PLEDGE
REVENUE CERTIFICATES OF OBLIGATION, SERIES
2023A" FOR IMPROVEMENTS TO PUBLIC SAFETY FACILITIES
IN AN AMOUNT NOT TO EXCEED $6,300,000, 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 TO EXECUTE CERTAIN
DOCUMENTS RELATING TO THE SALE OF THE
CERTIFICATES; 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 $15,000,000 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 the extent of availability of funds,
to -wit: (1) (a) constructing, acquiring, purchasing, renovating, enlarging, and improving City solid
waste facilities, including generators and municipal landfill waste disposal cells, (b) constructing,
acquiring, purchasing, renovating, enlarging, and improving City public safety facilities and
signage, including a Police Academy, and (c) constructing, acquiring, purchasing, renovating,
enlarging, and improving City park facilities, including City golf courses; (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
WHEREAS, in accordance with the provisions of Section 271.049, as amended, Texas
Local Government Code, the City confirms that notice of the City's intention to issue certificates
of obligation was approved by resolution at a public meeting and stated (1) the then -current
principal of all outstanding debt of the City; (2) the then -current combined principal and interest
required to pay all outstanding debt obligations of the City on time and in full, based on the City's
expectations relative to the interest due on any variable rate debt obligations, as applicable (3) the
133894312.4
033066
SCANNED
Caller Times
PART OF THE USA TODAY NETWORK
Certificate of
Publication
CITY OF CORPUS CHRIS TI -SECRETARY
PO BOX 9277
CORPUS CHRISTI, TX 78401
STATE OF WISCONSIN)
))
COUNTY OF BROWN)
I, being first duly sworn, upon oath depose and say that I
am a legal clerk and employee of the publisher, namely,the
Corpus Christi Caller-Times, a daily newspaper published
at Corpus Christi in said City and State, generally circulated
in Aransas, Bee, Brooks, Duval, Jim Hogg, Jim Wells,
Kleberg, Live Oak, Nueces, Refugio, and San Patricio,
Counties, and that the publication of which the annexed is a
true copy,was inserted in the Corpus Christi Caller-Times
in the following issue(s)dated:
04/16/2023
On this April 16, 2023, I certify that the attached document is
a true and exact copy made by the publisher:
Leg
al Notice Cl k
Notary Public, State of Wisconsin, County of Brown
q't(
Notary Expires
VICKY FELTY
Notary Public
Publication Cost: $688.85 State of Wisconsin
Ad No: 0005665683
Customer No: 1490432
PO#: 5665683
#of Affidavits 1
This is not an invoice
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 23,
2023, to consider at its first
reading, and beginning at
11:30 A.M., Corpus Christi,
Texas time on Tuesday,
June 13,2023, to consider of
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, as
taxable or tax-exempt
obligations, in on aggregate
principal amount not to
exceed $15,000,000 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) (a)constructing,
acquiring, purchasing,
renovating, enlarging, and
Improving City solid waste
facilities, Including
generators and municipal
landfill waste disposal
cells, (b) constructing,
acquiring, purchasing,
renovating, enlarging, and
improving City public
safety facilities and
signage, Including a Police
Academy, and (c)
constructing, acquiring,
purchasing, renovating,
enlarging, and improving
City park facilities,
including City golf courses;
(2) the purchase of
materials, supplies,
equipment, machinery,
landscaping, land, and
rights•of.way far 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;
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. In accordance
with Section 27L049, as
amended, Texas Local
Government Code, (i) the
current principal amount of
all of the City's outstanding
public securities secured by
and payable from ad
valorem taxes is
S4daccc.nnn: fill the
current combined principal
and interest required to
pay all of the City's
outstanding public
• ' securities secured by and
payable from ad valorem
foxes an time and in full is
$582,722,346; (iii) the
estimated combined
principal and interest
required to pay the
Certificates to be
authorized on time and in
full is $22,338,299; (iv) the
maximum interest rate for
the Certificates may not
exceed the maximum legal
interest rate; and (v) the
maximum maturity date of
the Certificates to be
authorized is March 1,2043,
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.
is/Rebecca Huerta
City Secretary,
City of Corpus Christi,
Texas
•
. Times
P=-'PT OF THE USA TODAY NETWORK
Certificate of
Publication
CITY OF CORPUS CHRIS TI -SECRETARY
PO BOX 9277
CORPUS CHRISTI, TX 78401
STATE OF WISCONSIN)
))
COUNTY OF BROWN)
I, being first duly sworn, upon oath depose and say that I
am a legal clerk and employee of the publisher, namely,the
Corpus Christi Caller-Times, a daily newspaper published
at Corpus Christi in said City and State, generally circulated
in Aransas, Bee, Brooks, Duval, Jim Hogg,Jim Wells,
Kleberg, Live Oak, Nueces, Refugio, and San Patricio,
Counties, and that the publication of which the annexed is a
true copy,was inserted in the Corpus Christi Caller-Times
in the following issue(s)dated:
04/23/2023
On this April 23, 2023, I certify that the attached document is
a true and exact copy made by the publisher:
,4/ALIA---______
egal Notice Clerk
: ),,
ittit80„
Notary Pu , State of isconsin, ounty of Brown
6t/Hdti
Notary Expires
VICKY FELTY
Notary Public
Publication Cost: $688.85 State of Wisconsin
Ad No:0005665688
Customer No: 1490432
PO#: 5665688
#of Affidavits)
This is not an invoice
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 Carpus Christi,
Texas, beginning at 11:30
A.M.,Corpus Christi, Texas
time on Tuesday, May 23,
2023, to consider at its first
reading, and beginning at
11:30 A.M., Corpus Christi,
Texas time on Tuesday,
June 13, 2023,to consider at
its second and final reading
the Passage of an ordinance
ar ordinances and take
such other actions as may
be deemed necessary to
authorize the issuance of
one or more series of
certificates of obligation, as
taxable or tax-exempt
obligations, in on aggregate
principal amount not to
exceed 515,000,000 for the
purpose or purposes of
Paving contractual
obligations of the City to be
incurred for making
permanent public
improvements and for
other public purposes,
to-wit: (1) (a) constructing,
acquiring, Purchasing,
renovating, enlarging, and
improving City solid waste
facilities, including
generators and municipal
landfill waste disposal
cells, (b) constructing,
acquiring. purchasing,
renovating, enlarging, and
improving City public
safety facilities and
signage, including a Police
Academy, and (c)
constructing, acquiring,
Purchasing, renovating,
enlarging, and improving
City Pork facilities,
including City golf courses;
(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;
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. In accordance
with Section 271.49, as
amended, Texas Local
Government Code, (i) the
current principal amount of
all of the City's outstanding
public securities secured by
and payable from ad
valorem taxes is
ae.A_ccc.nnn: ;iii the
current combined principal
and interest required to
PRY all of the City's
outstanding public
securities secured by and
payable from ad valorem
taxes on time and in full is
$5$2,722,344; OH)i i) the
estimated combined
principal and interest
required to pay the
Certificates to be
authorized on time and in
full is $22.336,299; (iv) the
maximum interest rate tar
the Certificates may not
exceed the maximum legal
interest rate; and fv) the
maximum maturity date of
The Certificates to be
authorized is March 1,2043.
The Certificates ore to be
Issued, and this notice is
given, under and pursuant
to the provisions of the
Certificate of Obligation
Act of 1471, 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.
!s1 Rebecca Muerte]
City Secretary,
City of Corpus Christi,
Texas