File #: 17-0175    Version: Name:
Type: Ordinance Status: Filed with the City Secretary
File created: 1/27/2017 In control: City Council
On agenda: 3/21/2017 Final action: 3/28/2017
Title: Second Reading Ordinance - Authorizing the Issuance of Refunding Bonds related to Choke Canyon Dam (1st Reading 3/21/17) Ordinance authorizing the issuance of “City of Corpus Christi, Texas Utility System Revenue Refunding Bonds”, as further designated by series and lien priority of revenue pledge, in an amount not to exceed $77,520,000; making provisions for the payment and security thereof by a lien on and pledge of the net revenues of the City’s Utility System which may be on a parity with certain currently outstanding Utility System revenue obligations; stipulating the terms and conditions for the issuance of additional revenue bonds on a parity therewith; prescribing the form, terms, conditions, and resolving other matters incident and related to the issuance, sale and delivery of the bonds; including the approval and distribution of an official statement pertaining thereto; authorizing the execution of one or more paying agent/registrar agreements, escrow agreements, and a purch...
Sponsors: Finance & Procurement
Attachments: 1. Agenda Memo - Choke Canyon Refunding_revised, 2. Ordinance - Choke Canyon Debt Refunding Updated 3-9-17
Related files: 17-0165

Title

Second Reading Ordinance - Authorizing the Issuance of Refunding Bonds related to Choke Canyon Dam (1st Reading 3/21/17)


Ordinance authorizing the issuance of “City of Corpus Christi, Texas Utility System Revenue Refunding Bonds”, as further designated by series and lien priority of revenue pledge, in an amount not to exceed $77,520,000; making provisions for the payment and security thereof by a lien on and pledge of the net revenues of the City’s Utility System which may be on a parity with certain currently outstanding Utility System revenue obligations; stipulating the terms and conditions for the issuance of additional revenue bonds on a parity therewith; prescribing the form, terms, conditions, and resolving other matters incident and related to the issuance, sale and delivery of the bonds; including the approval and distribution of an official statement pertaining thereto; authorizing the execution of one or more paying agent/registrar agreements, escrow agreements, and a purchase contracts; complying with the requirements imposed by the letter of representations previously executed 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 bonds; and providing an effective date.