File #: 18-3416    Version: 1 Name: Ordinance - General Obligation Refunding 2018
Type: Agenda Item Status: Passed
File created: 4/19/2018 In control: City Council
On agenda: 5/7/2018 Final action: 5/7/2018
Title: An ordinance of the City of Mesquite, Texas, authorizing the issuance and sale of City of Mesquite, Texas, General Obligation Refunding and Improvement Bonds, Series 2018; leying a tax in payment thereof; prescribing the form of said bonds; approving execution and delivery of a deposit agreement and a bond purchase agreement; approving the official statement; and enacting other provisions relating thereto.
Attachments: 1. Ordinance - General Obligation Refunding

Title

An ordinance of the City of Mesquite, Texas, authorizing the issuance and sale of City of Mesquite, Texas, General Obligation Refunding and Improvement Bonds, Series 2018; leying a tax in payment thereof; prescribing the form of said bonds; approving execution and delivery of a deposit agreement and a bond purchase agreement; approving the official statement; and enacting other provisions relating thereto.

 

Body

The attached ordinance authorizes the sale of bonds for General Obligation Refunding Bonds, Series 2018. This is the second issuance of GO bonds for the Residential Street Bond program in the amount of $34 million. Additional GO bond sales are scheduled for 2020 and 2022 to complete the bond authorization. The ordinance reflects the preliminary dollar values and exact amounts will be known after the bond sale closes on May 3.

 

Recommended/Desired Action

Staff recommends approval of the ordinance.

 

Attachment(s)

Ordinance

 

Drafter

Debbie Mol

 

Head of Department

Debbie Mol