HomeMy WebLinkAbout033068 ORD - 06/13/2023ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE OF "CITY OF
CORPUS CHRISTI, TEXAS LIMITED TAX NOTES, SERIES 2023" FOR
STREET IMPROVEMENTS IN AN AMOUNT NOT TO EXCEED
$3,500,000, LEVYING AN ANNUAL AD VALOREM TAX, WITHIN THE
LIMITATIONS PRESCRIBED BY LAW, FOR THE PAYMENT OF THE
OBLIGATIONS; PRESCRIBING THE FORM, TERMS, CONDITIONS,
AND RESOLVING OTHER MATTERS INCIDENT AND RELATED TO
THE ISSUANCE, SALE, AND DELIVERY OF THE OBLIGATIONS,
INCLUDING THE APPROVAL AND DISTRIBUTION OF AN OFFICIAL
STATEMENT PERTAINING THERETO; AUTHORIZING THE
EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND
AN OFFICIAL BID FORM; COMPLYING WITH THE LETTER OF
REPRESENTATIONS PREVIOUSLY EXECUTED WITH THE
DEPOSITORY TRUST COMPANY; DELEGATING AUTHORITY TO
THE CITY MANAGER, CHIEF FINANCIAL OFFICER, DIRECTOR OF
FINANCE AND PROCUREMENT TO EXECUTE CERTAIN
DOCUMENTS RELATING TO THE SALE OF THE NOTES; ENACTING
OTHER PROVISIONS INCIDENT AND RELATED THERETO; AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, pursuant to the provisions of Chapter 1431, as amended, Texas Government
Code (the Act), the City Council (the Governing Body) of the City of Corpus Christi, Texas (the
City or the Issuer) is authorized and empowered to issue anticipation notes to pay contractual
obligations incurred or to be incurred for the construction of any public works, for the purchase of
materials, supplies, equipment, machinery, buildings, lands, and rights-of-way for the Issuer's
authorized needs and purposes, and for professional services, including services provided by tax
appraisal engineers, engineers, architects, attorneys, auditors, mapmakers, financial advisors, and
fiscal agents; and
WHEREAS, in accordance with the provisions of the Act, the Governing Body hereby
finds and determines that anticipation notes should be issued and sold at this time to finance the
costs of paying contractual obligations to be incurred for (1) designing, constructing, renovating,
improving, reconstructing, restructuring and extending streets and thoroughfares and related land
and right-of-way sidewalks, streetscapes, collectors, drainage, landscape, signage, acquiring lands
and rights-of-way necessary thereto or incidental therewith (but specifically excluding related City
utility costs, which are the responsibility of the City's utility system); (2) the purchase of materials,
supplies, equipment, machinery, land, and rights-of-way for authorized needs and purposes
relating to the aforementioned capital improvements; (3) the payment of professional services
related to the design, construction, project management, and financing of the aforementioned
projects; and
135633734.3
033068
SCANNED
Calle 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:
Legal Notice CI k
CiA)
Notary Public, State of Wisconsin, County of Brown
11411
Notary Expires
VICKY FELTY
Notary Public
Publication Cost: $688.85
Ad No: 0005665683 State of Wisconsin
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 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, 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 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 profects;
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 pro iects.
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
titat.455.1Inn: fi11 the
current combined principal
and interest required to
•
Pay all of the City's
outstanding public
• securities secured by and
payable from ad valorem
taxes on 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
Ad 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 Huerto
City Secretary,
City of Corpus Christi,
Texas
• --...,,a11: r Times
•
PFT SOF 1HE USA TO:)AY NET'a OR
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&,______
_egal Notice Clerk
Notary Pu , State of isconsin, ounty of Brown
1/11
Notary Ex fires
`
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
C ITY 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 at
its second and final reading
the passage of on 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 an aggregate
principal amount not to
exceed 515,000,000 for the
aurPose 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,
Purchosing, renovating,
enlarging, and improving
City pork facilities,
including City golf courses;
(2) the purchase of
moterials, 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 271.049, as
amended, Texas Local
Government Code, (I) the
current principal amount of
oil of the City's outstanding
public securities secured by
and payable from ad
valorem taxes is
t,i .455.nnn: (iii the
current combined principal
and interest required to
pay ail of the City's
outstanding public
securities secured by and
payable from ad valorem
taxes 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.
/s/Rebecca Huerta
City Secretary.
City of Corpus Christi.
Texas