HomeMy WebLinkAboutPO 7102: REIMBURSE THE CITY FOR CERTAIN FUNDS EXPENDED IN CONNECTION WITH THE CITY'S FUNDING OF CAPITAL EQUIPMENT AND IMPROVEMENTS TO STREETS, CITY FACILITIES, PLEASURE ISLAND AND THE WATER AND SEWER SYSTEM, CERTIFICATES OF OBLIGATION. P.O. No. 7102
9/28/2022 DM/KD
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 CAPITAL EQUIPMENT AND IMPROVEMENTS
TO STREETS, CITY FACILITIES, PLEASURE ISLAND 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 purchasing capital equipment and making certain
improvements to streets, city facilities, Pleasure Island and the water and sewer system(together,
the "Improvements") within the City limits, not to exceed $25,000,000.
NOW,THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR, TEXAS:
Section 1. That the City Council hereby finds and adopts the recitals set forth above.
Section 2. That 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$25,000,000 for the expenditures described in the recitals hereof.
Section 3. That 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. That 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 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. That all prior orders, resolutions, and ordinances, or parts thereof, inconsistent
herewith are hereby repealed to the extent of such inconsistency.
READ,ADOPTED,AND APPROVED,this _day of , 2022 AD, at a
Regular Meeting of the City Council of the City of Port Arthur, Texas by the following vote: AYES:
Mayor:
Councilmembers:
NOES:
Thurman Bill Bartie, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED AS TO FORM:
Val Tizeno, City A ey
APPROVED FOR ADMINISTRATION:
Ron Burton, City Manager
D„,P
Kandy Daniel, Finance Director
City of Port Arthur,TX 9/28/22
Certificate of Obligation List FY 2023 Final
Department Division Description Est. Cost
General Fund
Public Works Streets Reconstruction 10,000,000
Fire Fire Replace Fire Station Pt Acres-Constr 5,175,000
General Fund Total 15,175,000
Water Fund
Lift Stations 1,000,000
Dredge fresh water reservior 1,500,000
Collection systems rehab 1,000,000
Elevated storage tank rehab 900,000
Water Fund Total 4,400,000
Solid Waste Fund
Container Mack Easy Pack Truck 350,000
Landfill Asco drum roller 110,000
Residential (2)Mack Garbage Truck 1,400,000
Trash Mack Trash Truck 300,000
Trash Mack Trash Truck 300,000
Solid Waste Fund Total (Capital Equipment) 2,460,000
Pleasure Island Fund
Dock repairs 1,164,500
Disc golf course renovation 100,000
Lakefront Park playscapes 800,000
Pleasure Island Fund Total 2,064,500
Grand Total 24,099,500