Public Notices (1): Notice of intent to issue debt for improving water and wastewater system.
Latest Update: updated 21 June 2024 - posted in the 14 June and the 21 June 2024 The Community News; posted 14 June, 2024
Willow Park Public Notices for week ending Friday, 14 June 2024
The 14 June, 2024, The Community News published one (1) Public Notice for the City of Willow Park.
NOTICE OF INTENTION TO ISSUE
CITY OF WILLOW PARK, TEXAS
CERTIFICATES OF OBLIGATION
TAKE NOTICE that the City Council of the City of Willow Park.
Texas, shall convene at 6:00 p.m. on August 13, 2024, at the City Municipal Complex located at City Hal. 120 El Chico Trail, Suite A, Willow Park, Texas 76087, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in an amount not to exceed FIVE MILLION ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS ($5,135,000) for the purpose of paying contractual obligations to be incurred for (i) constructing, acquiring, purchasing, renovating, enlarging, equipping, and improving water and wastewater system properties or facilities, including the acquisition of land and rights-of-way therefor, and (il) professional services rendered ni connection with such projects and the financing thereof; such certificates to be payable from ad valorem taxes and a pledge of the surplus net revenues of the City's Waterworks and Sewer 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 $17,577,724 (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 $27,297,609; (i) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $9,335,553; (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 February 15, 2055. The above information excludes $42,191,411 in principal amount of outstanding debt obligations the City has designated as self-supporting which the City reasonably expects to pay from revenue sources other than ad valorem taxes; provided, however, that in the event such self-supporting revenue sources are insufficient to pay debt service, the City is obligated to levy ad valorem taxes to pay such debt obligations. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Chapter 271, Subchapter C, as amended. Crvstal Dozier City Secretary City of Willow Park, Texas
[See 11 June 2024 Council Meeting, Agenda Item 10. Discussion/Action: to consider all matters incident and related to approving and authorizing publication and posting of notice of intention to issue certificates of obligation, including the adoption of a resolution pertaining thereto.]
