1999R07- REQUIREMENT FOR PUBLIC BIDS FOR REFUNDING BONDS
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A RESOLUTION
CLARIFYING RESOLUTION NOS. 75-R-12 AND 75-R-13
CONSI!:NTING TO Tim C1U:ATION OF GUADCO MUD NOS. 1 AND 2
REGARDING THE REQUIREMENT FOR PUBLIC BIDS FOR REFUNDING BONDS
ISSUED BY THE DISTRICTS
WHEREAS, the City of Schertz has consented to the creation of GUADCO Municipal Utility
District Nos. 1 and 2 (the "Districts") by City Resolutions 75-R-12 and 75-R-13 (the "Resolutions"), and
the Resolutions indicate that the Districts may sell refunding bonds "only after the taking of public bids
therefore", and
WHEREAS, the Districts have pre,,;ously sold bonds, and the Districts have informed the City
that they are seeking to sell refunding bonds at an interest rate lower than that of the original bonds, so that
the original bonds can be retired and to effectuate an interest rate savings over the term of the refunding
bonds, and
WHEREAS, Section 49.183 of the Texas Water Code, as amended, provides that the Districts
can sell their refunding bonds \vithout public bidding, and the Districts have represented to the City that
this is the most effective and efficient method of marketing the Districts' refunding bonds; and
WHEREAS, the Districts have represented to the City that the Public Finance Division of the
Office of the Attorney General will not approve the negotiated sale of the Districts' refunding bonds wiess
the City waives any provision in the Resolutions requiring public bidding for the Districts' refunding
bonds; NOW, TIlEREFORE:
BE IT RESOLVED BY TIlE CITY COUNCIL OF TIlE CITY OF SCHERTZ, TEXAS:
SECTION L The City's Resolutions 75-R-12 and 75-R-13 are hereby amended to permit
reftmding bonds of the Districts to be sold without the taking of public bids.
SECTION 2. This Resolution shall take effect and be in full force immediately upon its adoption.
PASSED, APPROVED, AND ADOPIED 1h~ the/fnl day of ~ 1999
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Mayor, City of Schertz, Texas
A TIEST:
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City Secretary, City of Schertz, Texas