CITY OF GRANBURY, TEXAS NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Granbury, Texas, shall convene at 6:00 p.m. on February 6, 2020, in the City Council chambers located at 116 W. Bridge Street, in the City of Granbury, Texas, and, during such meeting, the City Council will consider the passage of one or more ordinances authorizing the issuance of certificates of obligation in one or more series in an amount not to exceed TWENTY MILLION DOLLARS ($20,000,000) for the purpose of paying contractual obligations to be incurred for: (i) constructing, improving and equipping public safety facilities, (ii) constructing, improving and equipping park and recreation facilities, (iii) constructing street improvements, including drainage, landscaping, curbs, gutters, sidewalks, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor and (iv) professional services rendered in connection therewith; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the City’s combined water, sewer, and electric system. In accordance with Texas Local Government Code Section 271.049, (i) the current principal amount of all of the City’s outstanding public securities secured by and payable from ad valorem taxes is $26,172,500; (ii) the current combined principal and interest required to pay all of the City’s outstanding public securities secured by and payable from ad valorem taxes on time and in full is $32,844,615; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $27,437,500; (iv) the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity date of the certificates to be authorized is August 15, 2040. The certificates are to be issued, and this notice is given, pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended.
City of Granbury, Texas