SUBJECT
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An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of $30,845,000.00 in aggregate principal amount of "Combination Tax and Revenue Certificates of Obligation, Series 2025" for paying all or a portion of the city's contractual obligations incurred for the purpose of (1) acquiring, constructing, improving and equipping facilities to improve city telecommunications, wireless communications, information technology systems, applications, hardware, software, and cybersecurity; (2) 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) purchasing real property, materials, supplies, equipment, machinery, landscaping, and rights of way for authorized needs and purposes related to the aforementioned capital improvements; and (5) 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 a 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.
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PREVIOUS COUNCIL ACTION
Resolution 2025-R-182 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 $40,000,000.00 was approved by City Council on 07/21/2025.
BACKGROUND
The City of Laredo is proposing to sell various obligations including its Certific...
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