File #: 16-0313    Version: Name:
Type: Ordinance Status: Passed
File created: 3/11/2016 In control: City Council
On agenda: 3/29/2016 Final action: 4/12/2016
Title: Second Reading Ordinance - Authorizing the Issuance of Certificates of Obligation to fund Bond 2012 Projects (1st Reading 3/29/16) Ordinance authorizing the issuance of "City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Taxable Series 2016A" in an amount not to exceed $18,140,037 for the purpose of financing costs associated with making permanent public improvements within the City; 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; providing the terms and conditions of said Certificates and resolving other matters incident and relating to the issuance, payment, security, sale, and delivery of said Certificates, including the approval and distribution of an Official Statement pertaining thereto; authorizing the execution of a paying agent/registrar agre...
Sponsors: Finance & Procurement
Attachments: 1. Agenda Memo - CO's for Bond 2012 projects _ March 29, 2016.pdf, 2. Ordinance - Corpus Christi CO .pdf

Title

Second Reading Ordinance - Authorizing the Issuance of Certificates of Obligation to fund Bond 2012 Projects (1st Reading 3/29/16)

 

Ordinance authorizing the issuance of "City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Taxable Series 2016A" in an amount not to exceed $18,140,037 for the purpose of financing costs associated with making permanent public improvements within the City; 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; providing the terms and conditions of said Certificates and resolving other matters incident and relating to the issuance, payment, security, sale, and delivery of said Certificates, including the approval and distribution of an Official Statement pertaining thereto; authorizing the execution of a paying agent/registrar agreement and a purchase contract; complying with the requirements of the letter of representations on file with the depository trust company; delegating the authority to certain members of the City staff to execute certain documents relating to the sale of the Certificates; enacting other provisions incident and related to the subject and purpose of this ordinance; and providing an effective date.