HomeMy WebLinkAboutRES 91-317 RESOLUTION
WHEREAS, the City of Beaumont, Texas (the "City") is now in the process of issuing
its$20,000,000 City of Beaumont, Texas Waterworks and Sewer System Revenue Bonds, Series
1992, to finance improvements and extensions to the waterworks and sanitary sewer system of
the City; and,
WHEREAS, the City has determined and hereby finds that it is unable to finance such
construction without financial assistance from the Texas Water Development Board; and,
WHEREAS, the amount of such required assistance is presently estimated to be
$20,000,000;-and,
WHEREAS, the City Council of the City desires to authorize an application to the Texas
Water Development Board for such assistance;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
1. That the City hereby requests financial assistance from the Texas Water
Development Board in the amount of $20,000,000, to be evidenced by the sale
of the City's $20,000,000 Waterworks and Sewer System Revenue Bonds, Series
1992, to the Texas Water Development Board.
2. That Evelyn M. Lord, Mayor of the City, be, and she is hereby, designated as
the City's official representative for execution of the Application and for
appearances before the Texas Water Development Board.
3. That the Mayor and members of the City Council of the City, and the City's
consulting engineers, financial advisors and attorneys be, and they are hereby,
authorized and directed to submit an application to the Texas Water Development
Board for financial assistance and to do any and all things necessary and/or
desirable to carry out the purpose of this resolution.
4. That the Mayor is hereby authorized to execute letters or contracts of engagement
and to employ a financial advisor and bond counsel to 1) request financial
assistance from the Texas Water Development Board and, 2) issue and sell the
Bonds if the City subsequently adopts an ordinance providing for such issuance
and sale.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the day
of &ZkYj�g—lt 1991.
- Mayor -
ATTEST:
CITY CLERK
CITY OF BEAUMONT, TEXAS
; . C