HomeMy WebLinkAboutPO 6942: FUNDING OF IMPROVEMENTS TO STREETS, DRAINAGE, CITY FACILITIES AND THE WATER AND SEWER SYSTEM P.O. No. 6942
3/9/2021 DM
CITY OF PORT ARTHUR, TEXAS
ORDINANCE NO.
AN ORDINANCE DECLARING AN INTENT TO REIMBURSE THE CITY
FOR CERTAIN FUNDS EXPENDED IN CONNECTION WITH THE CITY'S
FUNDING OF IMPROVEMENTS TO STREETS, DRAINAGE, CITY
FACILITIES AND THE WATER AND SEWER SYSTEM FROM
PROCEEDS OF CERTAIN CERTIFICATES OF OBLIGATION TO BE
ISSUED BY THE CITY WITHIN ONE YEAR
WHEREAS, the City as permitted by Section 1.150-2 of the Treasury Regulations,
desires reimbursement from proceeds from the issuance of certain certificates of
obligation and any other expenses in connection with the City making certain
improvements to streets, drainage, city facilities and the water and sewer system
(together, the "Improvements") within the City limits, not to exceed $32,900,000.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR, TEXAS:
Section 1. The City Council hereby finds and adopts the recitals set forth above.
Section 2. The City hereby declares its intention to issue its certificates of
obligation to reimburse itself, plus any additional expenses in connection with the
Improvements, not to exceed $32,900,000 for the expenditures described in the recitals
hereof.
Section 3. If any Section, paragraph, clause or provision of this Ordinance shall
for any reason be held to be invalid or unenforceable, the invalidity or enforceability of
such section, paragraph, clause, or provision shall not affect any of the remaining
provisions of this Ordinance.
Section 4. It is hereby found, determined and declared that a sufficient written
notice of the date, hour, place and subject of the meeting of the City Council at which this
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Ordinance was adopted was posted at a place convenient and readily accessible at all
times to the general public at the City for the time required by law preceding this meeting,
as required by the Open Meetings Act, Chapter 551, Texas Government Code, as
amended, and that this meeting has been open to the public as required by law at all
times during which this Ordinance and the subject matter thereof has been discussed,
considered and formally acted upon. The City Council further ratifies, approves and
confirms such written notice and the contents and posting thereof.
Section 5. All prior orders, resolutions, and ordinances, or parts thereof,
inconsistent herewith are hereby repealed to the extent of such inconsistency.
READ, ADOPTED AND APPROVED on this day of March, A.D., 2021, at a
Council Meeting of the City Council of the City of Port Arthur, Texas, by the following vote:
AYES:
Mayor:
Councilmembers:
•
NOES:
Thurman Bill Bartle, Mayor
ATTEST:
Sherri Bellard
City Secretary
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APPROVED AS TO FORM:
Valecia R. Tizeno
City Attorney
APPROVED FOR ADMINISTRATION:
Ronald Burton
City Manager
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