Title
An ordinance of the City of Mesquite, Texas authorizing the issuance and sale of City of Mesquite, Texas, Combination Tax and Limited Surplus Revenue Certificates of Obligation, in one or more series in the aggregate principal amount of not to exceed $61,000,000.00; levying a tax in payment thereof; awarding the sale thereof; prescribing the form of said certificates; approving execution and delivery of a paying agent agreement; approving the official statement; approving and enacting other provisions relating thereto.
Body
The attached ordinance authorizes Council to delegate the approval of the sale of Combination Tax and Limited Surplus Revenue Certificates of Obligation, in one or more series in the aggregate principal amount of not to exceed $61,000,000.00 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
Cindy L. Smith
Head of Department
Cindy L. Smith