The City's bonds, to be designated "City of Lubbock, Texas, Water and Wastewater System Revenue Bonds, Series 2023," or such other designation or designations as set forth in the Pricing Certificate, are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas, including specifically Chapter 1371, Chapter 1502, and Article VIII of the Charter of the City. The Bonds shall be issued in one or more series, from time to time, on the dates and in the principal amount designated in the Pricing Certificate, for the purposes of:
(i) paying the costs of acquiring, purchasing, constructing, improving, renovating, enlarging, and equipping property, buildings, structures, facilities, and related infrastructure for the System;
(ii) funding capitalized interest on the Bonds;
(iii) funding the reserve fund requirement for the Bonds; and
(iv) paying the costs of issuing the Bonds.
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