2025-O-170
An Ordinance of the City of Laredo, Texas, authorizing the issuance of “General Obligation Refunding Bonds, Series 2025 (Forward Delivery)” in the aggregate principal amount of $47,140,000.00, levying a continuing direct annual ad valorem tax, within the limitations prescribed by law, for the payment of the bonds; 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 a paying agent/registrar agreement, an escrow and trust agreement, and a forward delivery purchase contract; complying with the letter of representations on file with the depository trust company; and providing an effective date. S..body PREVIOUS COUNCIL ACTION N/A BACKGROUND The City of Laredo is proposing the issuance of several debt instruments to support municipal initiatives. These include Certificates of Obligation, Series 2025; Public Property Finance Contractual Obligations, Series 2025; and Tax Notes, Series 2025, which will fund various capital improvement projects. Additionally, the City plans to issue these General Obligation Refunding Bonds, Series 2025, to refinance existing debt obligations to achieve debt service savings. COMMITTEE RECOMMENDATION N/A STAFF RECOMMENDATION
- Committee
- City Council
- Requested by
- Finance
- Introduced
- August 22, 2025
- On agenda
- September 15, 2025
- Passed
- September 15, 2025