SUBJECT
title
An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of up to $15,000,000.00 in aggregate principal amount of “Combination Tax and Airport Revenue Certificates of Obligation, Series 2026B (AMT)” for paying all or a portion of the City's contractual obligations incurred for the purpose of (1) acquire, construct, and equip capital improvements to the city-owned Laredo International Airport, including but not limited to airport terminal improvements and a new airfield maintenance building, (2) purchase real property, materials, supplies, equipment, machinery, landscaping, and rights of way for authorized needs and purposes related to the aforementioned capital improvements; and (3) pay 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 municipal airport; approving and authorizing the execution of all instruments and procedures related thereto; 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.Sbody
PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The City of Laredo is proposing to issue several debt instruments to support municipal initiatives. These include Certificates of Obligation, Series 2026; Public Property Finance Contractual Obligations, Series 2026; and Tax Notes, Series 2026, which will fund various capital improvement projects. Additionally, the City plans to issue a Combination Tax and Airport Revenue Certificate of Obligation Series, 2026B for the Laredo International Airport improvements, and a Sports Venue Sales Tax Revenue, Taxable Series 2026 to finance improvements to previously approved sports venue projects and related infrastructure.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Approve and adopt the First and Final Reading of this Ordinance.
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Fiscal Impact
Fiscal Year: 2026-2027
Budgeted Y/N?: Series 2026B AMT Bond Proceeds
Account #: Various
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Budget for fiscal year 2026-2027 will be amended as necessary to appropriate proceeds and debt service payments. Principal and interest payments will be determined at the time of pricing on September 21, 2026.