Title
An ordinance providing for the issuance of City of Mesquite, Texas, Combination Tax and Limited Surplus Revenue Certificates of Obligation, Series 2024, in the approximate aggregate principal amount of $37,350,000; levying a tax in payment thereof; prescribing the form of said certificates and awarding the sale thereof; authorizing the execution and delivery of a paying agent/registrar agreement; approving the official statement; and enacting provisions incident and relating to the subject and purposes of said ordinance.
Body
The attached ordinance authorizes Council to delegate the approval of the issuance and sale of Combination Tax and Limited Surplus Revenue Certificates of Obligation, Series 2024, to certain Pricing Officers, subject to all bond sale parameters being met.
The parameter ordinance allows the City maximum flexibility, as the timing of the bond sale can occur at any point (i.e., not locked into pricing only on a Council meeting day) after passage of the ordinance subject to each Council-approved parameter being met or exceeded.
Recommended/Desired Action
Staff recommends approval of the ordinance.
Attachment(s)
Ordinance
Drafter
Suzy Cluse
Head of Department
Suzy Cluse