SUBJECT
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A Resolution directing publication of notice of intention to issue City of Laredo, Texas Combination Tax and Revenue Certificates of Obligation, in one or more series, in the maximum principal amount of $6,500,000.00 for the purpose of (1) renovating, improving, and equipping existing municipal buildings and facilities housing the governmental functions of the city, including administrative office facilities and library facilities; (3) acquiring, constructing, improving and equipping parks and recreational facilities; (4) acquiring, constructing, improving and equipping flood control and drainage projects, (5) purchasing real property, materials, supplies, equipment, machinery, landscaping, and rights of way for authorized needs and purposes related to the aforementioned capital improvements; and (6) paying legal, fiscal and engineering fees in connection with such projects.
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PREVIOUS COUNCIL ACTION
Presentation of the Plan of Finance by Noe Hinojosa of Estrada-Hinojosa & Company on July 27, 2026.
BACKGROUND
The City of Laredo is proposing to issue various debt instruments, including Combination Tax and Revenue Certificates of Obligation, in one or more series, with a maximum principal amount of $6,500,000.00.
State law, particularly, Chapter 271 of the Local Government Code (the "Certificates of Obligation Act") requires that notice (the "Notice"), the form of which is attached to this resolution as Exhibit A, be both posted on the City's website and published in a newspaper of general circulation in the City prior to the sale of a series of Certificates of Obligation. Particularly, prior to the date tentatively set for the passage of the ordinance authorizing the issuance of the Certificates of Obligation, notice: (1) must be posted continuously on the City's website for at least 45 days, and (2) published in a newspaper of general circulation in the City on the same day in each of two consecutive weeks, the date of the first publication...
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