Laserfiche WebLink
Interest Bonds(except the Initial Bond delivered to the Attorney General of the State of Texas which <br /> shall be numbered T-1 and TPC-1 respectively)payable to the respective initial Registered Owners <br /> thereof,or to the registered assignee or assignees of said Bonds or any portion or portions thereof,in <br /> Authorized Denominations, maturing not later than August 15, 2038, serially or otherwise on the <br /> dates,in the years and in the principal amounts,respectively,and dated,as all set forth in the Pricing <br /> Certificate to be executed and delivered by the Pricing Officer pursuant to subsection (b) of this <br /> section. The Pricing Certificate is hereby incorporated in and made a part of this Ordinance. The <br /> Bonds shall be designated by the year in which they are awarded as set forth in the Pricing <br /> Certificate. The authority for the Pricing Officer to execute and deliver the Pricing Certificate for the <br /> Bonds shall expire at 5:00 p.m. C.S.T. on May 15,2019. Bonds priced on or before May 15,2019 <br /> may be delivered to the initial purchaser after such date. <br /> (b) As authorized by Chapters 1331 and 1371,Texas Government Code,as amended,the <br /> Pricing Officer is hereby authorized to act on behalf of the City in selling and delivering one or more <br /> Series of the Bonds, and carrying out the other procedures specified in this Ordinance, including <br /> determining the date of the Bonds,any additional or different designation or title by which the Bonds <br /> shall be known,the price at which the Bonds will be sold,the years in which the Bonds will mature, <br /> the principal amount to mature in each of such years, the aggregate principal amount of Current <br /> Interest Bonds and Premium Compound Interest Bonds, the rate or rates of interest to be borne by <br /> each such maturity,the interest payment periods,the dates,price, and terms upon and at which the <br /> Bonds shall be subject to redemption prior to maturity at the option of the City, as well as any <br /> mandatory sinking fund redemption provisions, whether any series of Bonds shall be issued as <br /> Taxable Bonds or Tax-Exempt Bonds, the amount of authorization to use from a respective <br /> proposition authorizing the sale of Bonds approved by the City's voters and the amount of authorized <br /> but unissued bonds remaining from a proposition following the issuance of a series of Bond pursuant <br /> hereto and all other matters relating to the issuance, sale, and delivery of the Bonds, all of which <br /> shall be specified in the Pricing Certificate;provided that(i)the price to be paid for the Bonds shall <br /> not be less than 90%of the aggregate original principal amount thereof plus accrued interest thereon <br /> from its date to its delivery,and(ii)none of the Bonds shall bear interest at a rate,or yield in the case <br /> of Premium Compound Interest Bonds,greater than the maximum authorized by law. In establishing <br /> the aggregate principal amount of the Bonds, the Pricing Officer shall establish an amount not to <br /> exceed the amount authorized in Section 3,which shall be sufficient to provide for the purposes for <br /> which the Bonds are authorized and to pay the costs of issuing the Bonds. <br /> In satisfaction of Section 1201.022(a)(3), Texas Government Code, the City Council <br /> determines that the delegation of the authority to the Pricing Officer to approve the final terms and <br /> conditions of each Series of the Bonds as set forth in this Ordinance is,and the decisions made by the <br /> Pricing Officer pursuant to such delegated authority and incorporated in the Pricing Certificate will <br /> be, in the best interests and shall have the same force and effect as if such determination were made <br /> by the City Council and the Pricing Officer is hereby authorized to make and include in a Pricing <br /> Certificate an appropriate finding to that effect. <br /> (c) To achieve advantageous borrowing costs for the City,the Bonds shall be sold on a <br /> negotiated, placement or competitive basis as determined by the Pricing Officer in the Pricing <br /> Certificate. In determining whether to sell the Bonds by negotiated,placement or competitive sale, <br /> 3 <br /> Se Marcos\GOB2018.OrdinanceGO <br />