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Posted on: May 12, 2021

Notice of Intention to Issue Certificates of Obligation

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TAKE NOTICE that the City Council of the City of Celina, Texas, shall convene at 5:00 p.m. on July 13, 2021, at the City Council chambers located at 112 N. Colorado Street, in the City of Celina, 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 THIRTY-THREE MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($33,750,000) for the purpose of paying contractual obligations to be incurred for:  (i) designing, constructing, equipping and improving public safety facilities, including the acquisition of land and rights-of-way and the acquisition of vehicles therefor, (ii) acquiring, constructing, improving, remodeling, renovating and equipping park and recreation facilities, including the acquisition of land and rights-of-way therefor and including public art projects and enhancements, (iii) constructing and improving streets, including drainage, landscaping, curbs, gutters, sidewalks, entryways, pedestrian pathways, signage and traffic signalization and the acquisition of land and rights-of-way therefore, (iv) designing, constructing, improving, and equipping a municipal administration building and (v) professional services rendered in connection therewith; and; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the City’s combined 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 $191,615,000; (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 $252,743,243; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $45,840,000; (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 September 1, 2041.  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 Secretary
City of Celina, Texas

 

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