Council holds one of two hearings regarding grant funding

In Pearland by Reporter NewsLeave a Comment

By Karolyn Gephart

The first of two public hearings was held at the Pearland City Council
meeting May 18, 2020 at City Hall.

The hearing was conducted in accordance with 24 CFR 91.105 (Citizen
Participation) of the Code of Federal Regulations for reprogramming
and reallocation of FY 2020 Community Development Block Grant funding
in the amount totaling $60,000 for social services activities within
the City, in response to the COVID-19 pandemic.

Public comment period will be May 21-29 with the second public hearing
June 8, 2020.

The first reading of an ordinance (1588) authorizing issuance of City
of Pearland Water and Sewer Revenue Bonds, Series 2020B; prescribing
the terms and conditions thereof, providing for the payment thereof;
establishing parameters with respect to the sale of the bonds;
authorizing the preparation and distribution of an official statement
to be used in connection with the sale of the bonds; making other
provisions regarding such bonds and matters incident thereto;
authorizing execution and delivery of a paying agent/registrar
agreement; and containing other matters related thereto. The
resolution passed 6-1.

The Water/Sewer System Revenue Bonds will be structured with a 20-year
maturity, with level principal payment ranging between $365,000
-$370,000, with a declining annual debt service payment. Beginning in
fiscal year 2021, the annual average debt service payment is $536,242,
and annual average principal payments of $366,250.

The first reading of an ordinance (1590) was given authorizing the
issuance of City of Pearland permanent improvement bonds in one or
more series; setting certain parameters for the bonds, authorizing a
pricing officer to approve the amount, the interest rate, price, and
terms thereof and certain other procedures and provisions relating
thereto. The resolution passed unanimously.

A Resolution (R2020-82) was read in New Business authorizing
publication of notice of intention to issue certificates of obligation
for the design, acquisition, construction and improvement of certain
public works, authorizing distribution of a preliminary official
statement relating to such series of certificates and authorizing
certain other matters relating thereto. The resolution passed 4-3.

A Resolution (R2020-81) was read authorizing publication of notice of
intention to issue certificates of obligation for the design,
acquisition, construction and improvement of certain public works,
authorizing distribution of a preliminary official statement relating
to such series of certificates and authorizing certain other matters
relating thereto. The resolution passed unanimously.

A Resolution (R2020-90) was read approving Windstorm and Wind Driven
Rain Insurance through AmRisc Carriers, in the amount of $620,025.00,
for the period of May 26, 2020 to May 25, 2021. The resolution passed
unanimously.

A Resolution (R2020-93) was read authorizing an Advanced Funding
Agreement with the State of Texas, in the amount of $3,380,136.00 for
the Safe Routes to Schools Project. The resolution passed unanimously.

The next Council meeting will be June 8, 2020 at 6:30 pm.

Print Friendly, PDF & Email