An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of up to $6,500,000.00 in aggregate principal amount of "Combination Tax and Revenue Certificates of Obligation, Series 2026A” for paying all or a portion of the City's contractual obligations incurred for the purpose of (1) renovating, improving, and equipping existing municipal buildings and facilities housing

Staff Report & Agenda Item Details

An Ordinance of the City of Laredo, Texas, authorizing the issuance, sale and delivery of up to $6,500,000.00 in aggregate principal amount of "Combination Tax and Revenue Certificates of Obligation, Series 2026A” for paying all or a portion of the City's contractual obligations incurred 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; (2) acquiring, constructing, improving and equipping parks and recreational facilities; (3) acquiring, constructing, improving and equipping flood control and drainage projects, (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; 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.