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File #: 20-1230    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 9/29/2020 In control: City Council
On agenda: 10/13/2020 Final action: 10/20/2020
Title: Ordinance authorizing the issuance of Utility System Junior Lien Revenue Improvement Bonds, New Series 2020C in an amount not to exceed $11,425,000; providing for payment and security, by a junior and inferior lien on and pledge of the net revenues of the City’s utility system; stipulating terms and conditions for additional revenue bonds; and complying with Texas Water Development Board regulations; for a potential future seawater desalination plant. (Requires 2/3 vote)
Sponsors: Finance & Business Analysis
Attachments: 1. Agenda Memo-Ordinance approving issuance of $11,425,000 in bonds to TWDB, 2. Ordinance for TWBD $11.425M bond issuance, 3. Agreement - Finance TX Water Dev Board Financing Agmt vFinal 20200820, 4. SWIFT Loan 2 - Invitation from TWDB, 5. City of Corpus Christi 51052-SWIFT Board Action Letter-resolution 7-29-2020

Title

Ordinance authorizing the issuance of Utility System Junior Lien Revenue Improvement Bonds, New Series 2020C in an amount not to exceed $11,425,000; providing for payment and security, by a junior and inferior lien on and pledge of the net revenues of the City’s utility system; stipulating terms and conditions for additional revenue bonds; and complying with Texas Water Development Board regulations; for a potential future seawater desalination plant. (Requires 2/3 vote)