File #: 18-0553    Version: Name:
Type: Ordinance Status: Passed
File created: 4/27/2018 In control: City Council
On agenda: 5/8/2018 Final action: 5/15/2018
Title: Second Reading Ordinance - Authorization for Issuance of Certificates of Obligation for Streets and Facilities (Council Priority - Streets) (1st Reading 5/8/18) Ordinance authorizing the issuance of “City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2018A” in an amount not to exceed $15,750,000 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 payin...
Sponsors: Finance & Procurement
Attachments: 1. Agenda Memo - Issuance of Tax Exempt CO's, 2. 2018A Ordinance

Title

Second Reading Ordinance - Authorization for Issuance of Certificates of Obligation for Streets and Facilities (Council Priority - Streets) (1st Reading 5/8/18)

 

Ordinance authorizing the issuance of “City of Corpus Christi, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2018A” in an amount not to exceed $15,750,000 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; enacting other provisions incident and related to the subject and purpose of this ordinance; and providing an effective date.