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Regular City Council Meeting
Ordinance Single Reading - Finance:
Consider approval of an ordinance providing for the issuance of City of Lubbock, Texas, Combination Tax and Revenue Certificates of Obligation, in one or more series; levying a tax and pledging surplus water and wastewater system revenues in payment thereof; providing for the award of the sale thereof in accordance with specified parameters; approving an official statement; approving execution of a purchase contract; and enacting other provisions relating thereto.
The City’s bonds are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas, including specifically Chapter 1207, Chapter 1371, and Article VIII of the City’s Home-Rule Charter.
The bonds may be issued, from time to time, in one or more series, on the dates and in the aggregate principal amount designated in the Pricing Certificate, for the purpose of:
(i) acquisition, construction, renovation, and equipment related to 114th Street - Slide Road to Quaker Avenue;
(ii) payment of professional services of attorneys, financial advisors, engineers, and other professionals in connection with the Project and the issuance of the Certificates;
(iii) refunding the Refunded Obligations; and
(iv) paying the costs of issuing the Bonds and refunding the Refunded Obligations.
The aggregate principal amount of all Bonds issued pursuant to this ordinance shall not exceed $7,600,000.
D. Blu Kostelich - Chief Financial Officer
City of Lubbock CO Series 2021 - Ordinance
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