HomeMy WebLinkAboutR2022-172 2022-08-08RESOLUTION NO. R2022-172
A Resolution of the City Council of the City of Pearland, Texas, authorizing
the Lower Kirby Pearland Management District (“District”) to issue and sell
bonds with no City of Pearland bond obligations, totaling $3,420,000.00, for
certain road way and storm drainage projects (Fruge Road east of Kirby
Drive) in the District.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That Chapter 375.207 of the Texas Local Government Code requires the
District to obtain approval of the City for bond issues that support improvement projects in the
District.
Section 2. That the Mayor is hereby authorized to sign the consent letter, attached
hereto as Exhibit “A,” authorizing the issuance of bonds for certain projects, the plans and
specifications of which have been approved by the City Council.
PASSED, APPROVED, and ADOPTED this the 8th day of August, A.D., 2022.
________________________________
J. KEVIN COLE
MAYOR
ATTEST:
_______________________________
FRANCES AGUILAR, TRMC, MMC
CITY SECRETARY
APPROVED AS TO FORM:
______________________________
DARRIN M. COKER
CITY ATTORNEY
DocuSign Envelope ID: FEA01432-5010-4036-9BD6-F0D8CB197300
Exhibit A - Letter of Concurrence
CITY OF PEARLAND
August 8, 2022
The Honorable Leslie Brock
Office of the Attorney General of Texas
William P. Clements Building
300 West 15th Street, 7th Floor
Austin, Texas 78701
Re: Lower Kirby Pearland Management District Unlimited Tax Road Bonds,
Series 2022
Ladies and Gentlemen:
You are hereby notified that the City Council of the City of Pearland, Texas, has
authorized the Lower Kirby Pearland Management District to issue and sell the above-
captioned bonds for the purposes of funding certain road improvement projects, the
plans and specifications for which have also been approved by the City Council of the
City of Pearland, Texas, each in compliance with Section 375.207 of the Texas Local
Government Code. The approval was passed by the City Council at a duly posted City
Council meeting on August 8, 2022.
Sincerely,
CITY OF PEARLAND
Kevin Cole, Mayor
RICHAILO B. MAYOR
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EXHIBIT A
EAST FRUGE ROAD
SUMMARY OF COSTS ROAD BOND 2022 ISSUE
Lower Kirby Pearland Management District
District
Construction Costs Share
1. Fruge Road (East of Kirby) 1,346,162.00$
2. Fruge Road/ Kirby Drive Intersection Traffic Signal & Left Turn Lane 650,000.00$
Improvements
Subtotal Construction Costs 1,996,162.00$
Contingency (Items 1-2) (25%)
1. Fruge Road (East of Kirby) 336,540.50$
2. Fruge Road/ Kirby Drive Intersection Traffic Signal & Left Turn Lane 162,500.00$
Improvements
Subtotal Contingency 499,040.50$
Engineering & Materials Testing
(Items 1-2) (17%)
1. Fruge Road (East of Kirby) 286,059.43$
2. Fruge Road/ Kirby Drive Intersection Traffic Signal & Left Turn Lane 138,125.00$
Improvements
3. Hooper, Phase II and Fruge PER 66,766.00$
4. Riley Road PER 20,087.00$
Subtotal Engineering 511,037.43$
SWPPP (Items 1-2) (3%)
1. Fruge Road (East of Kirby) 50,481.08$
2. Fruge Road and Kirby Drive Intersection Traffic Signal & Left Turn Lane 24,375.00$
Improvements
Subtotal Construction Testing 74,856.08$
TOTAL CONSTRUCTION COSTS 3,081,096.00$
90.09% of BIR
Non-construction Costs
A. Legal Fees 100,500.00$
B. Fiscal Agent Fees 68,400.00$
C. Bond Discount (3%) 102,600.00$
D. Attorney General Fee (0.10%) 3,420.00$
E. Engineering Fees 20,000.00$
F. Costs of Issuance 43,984.00$
TOTAL NON-CONSTRUCTION COSTS 338,904.00$
9.91% of BIR
TOTAL BOND ISSUE REQUIREMENT 3,420,000.00$
LJA Engineering Surveying, Inc.
5/31/2022 W:\LAND\2209\0000\Road Bond 2022\Road Bond 2022 Issue LKPMD_05122022