2024-O-189
An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of up to $13,000,000.00 in aggregate principal amount of “Combination Tax and Revenue Certificates of Obligation, Series 2024B” for paying all or a portion of the City’s contractual obligations incurred for the purpose of: (1) planning, constructing, improving and repairing streets, sidewalks, bridges and drainage improvements, together with right-of-ways acquisition, traffic and street signalization, landscaping, and lighting improvements, (2) purchasing real property, materials, supplies, equipment, information technology, machinery, landscaping, land, and rights of way for authorized needs and purposes related to the aforementioned capital improvements and (3) paying legal, fiscal and engineering fees in connection with such projects; securing the payment thereof by authorizing the levy of an annual ad valorem tax and a pledge of certain surplus revenues of the City’s International Toll Bridge System; approving and authorizing the execution of all instruments and procedures related thereto including a paying agent/registrar agreement and purchase contract; approving the form of an official statement; authorizing amendment to the city’s budget to appropriate such proceeds for purposes authorized herein; and declaring an effective date.
- Committee
- City Council
- Requested by
- Finance
- Introduced
- September 4, 2024
- On agenda
- September 16, 2024