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SUBJECT
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An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of approximately $19,650,000.00 in aggregate principal amount of "Tax Notes, Series 2026" for (1) planning, constructing, improving and repairing streets, sidewalks, bridges and drainage improvements, together with rights-of-way acquisition, traffic and street signalization, landscaping, and lighting improvement; (2) acquiring, constructing, renovating, improving and equipping public safety facilities, including a fire department facilities and police department facilities; (3) renovating, improving, and equipping existing municipal buildings and facilities housing the governmental functions of the city; (4) acquiring, constructing, improving and equipping parks and recreational facilities; (5) purchasing materials, supplies, equipment, machinery, buildings, land, 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; securing the payment thereof by authorizing the levy of an annual ad valorem tax; 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
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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 f...
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