SUBJECT
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A Resolution directing publication and posting 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 $13,000,000.00, for: (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.
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PREVIOUS COUNCIL ACTION
Presentation of the Plan of Finance by Noe Hinojosa of Estrada-Hinojosa & Company on July 22, 2024.
BACKGROUND
The City of Laredo is proposing to sell various bonds including a Certificate of Obligations Series 2024B in the maximum principal amount of $13,000,000.00 generally for Road Improvements, Design, and Engineering to be sold to TXDOT thru their State Infrastructure Bank program.
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 to be at least 46 days before the passage of the or...
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