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AI# 12462
Regular City Council Meeting
6.12.
04/09/2024:
Information
Agenda Item
Resolution - Finance:
Consider a resolution authorizing publication and posting of notices of intention to issue City of Lubbock, Texas General Obligation Bonds and Combination Tax and Revenue Certificates of Obligation.
Item Summary
This resolution authorizes Staff to publish a notice of intent in the Lubbock Avalanche Journal to issue General Obligation (GO) Bonds and Combination Tax and Revenue Certificates of Obligation (CO).
The GO Bonds are being issued out of the voter-authorized $200 million bond referendum passed in November 2022. The following projects from that bond package scheduled for this financing are:
34th Street - Upland Avenue to Milwaukee Avenue (Construction)
Upland Avenue - 34th Street to 50th Street (Construction)
Milwaukee Avenue - North City Limits to 4th Street (Construction)
146th Street - Quaker Avenue to Indiana Avenue (Construction)
Upland Avenue - 19th Street to 34th Street (Design, Engineering, and Right-of-Way Acquisition)
114th Street - Frankford Avenue to Slide Road (Design, Engineering, and Right-of-Way Acquisition)
Upland Avenue - 50th Street to 66th Street (Design, Engineering, and Right-of-Way-Acquisition)
The CO issuance will fund the following capital projects:
Upland Avenue and 66th Street Playa Drainage Improvements (Stormwater Revenue supported debt)
Playa Lake 054 Lateral Extension (Stormwater Revenue supported debt)
Solid Waste Transfer Station Construction (Solid Waste Fee supported debt)
West Texas Regional Disposal Facility (WTRDF) Cell Construction (Solid Waste Fee supported debt)
Fiscal Impact
As this is the Notice of Intent, this action carries no fiscal impact.
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer
Attachments
Resolution - 2024 GO-CO NOI
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