An Ordinance by the City Council of the City of Corpus Christi, Texas authorizing the issuance of “City of Corpus Christi, Texas General Improvement Bonds, Series 2026”, for the third issuance of bonds from the Bond 2022 authorization and the first issuan

Staff Report & Agenda Item Details

An Ordinance by the City Council of the City of Corpus Christi, Texas authorizing the issuance of “City of Corpus Christi, Texas General Improvement Bonds, Series 2026”, for the third issuance of bonds from the Bond 2022 authorization and the first issuance of bonds from the Bond 2024 authorization, in a cumulative amount not to exceed $115,000,000, within set parameters; levying a continuing direct annual ad valorem tax for the payment of the Bonds; delegating the authority to the City Manager, Deputy City Manager, Director of Finance and Procurement, and certain other authorized officials to approve and execute documents relating to the issuance, sale and delivery of the Bonds; authorizing the execution of related engagement agreements with the City’s Financial Advisors and Bond Counsel; and providing for an effective date.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 9.3/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).