File #: 17-0361    Version: Name:
Type: Ordinance Status: Passed
File created: 3/8/2017 In control: City Council
On agenda: 3/21/2017 Final action: 3/28/2017
Title: Second Reading Ordinance - Authorizing the Issuance of Solid Waste Certificates of Obligation (1st Reading 3/21/17) Ordinance authorizing the issuance of “City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Taxable Series 2017” in an amount not to exceed $2,500,000 for the purpose of financing costs associated with making permanent public improvements to the City’s Solid Waste System; 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; authorizing the execution of a paying agent/registrar agreement and a purchas...
Sponsors: Finance & Procurement
Attachments: 1. Agenda Memo_ Authorization for Solid Waste CO's, 2. Ordinance - Solid Waste Taxable CO_updated 3-9-17

Title

Second Reading Ordinance - Authorizing the Issuance of Solid Waste Certificates of Obligation (1st Reading 3/21/17)

 

Ordinance authorizing the issuance of “City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Taxable Series 2017” in an amount not to exceed $2,500,000 for the purpose of financing costs associated with making permanent public improvements to the City’s Solid Waste System; 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; 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.