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    Physical Address: 102 East Second Street Springtown, Texas 76082Mailing Address: PO Box 444, Springtown, Texas 76082

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NOTICE OF INTENTION TO ISSUE CITY OF SPRINGTOWN, TEXAS CERTIFICATES OF OBLIGATION

TAKE NOTICE that the City Council of the City of Springtown, Texas, shall convene at 7:00 o’clock P.M. on February 27, 2025, at the Court Annex Building, 200 N. Main Street, Springtown, Texas, and, during such meeting, the City Council will consider the passage of one or more ordinances authorizing the issuance of one or more series of certificates of obligation in an amount not to exceed $4,910,000 for the purpose of paying contractual obligations to be incurred for (i) designing, acquiring, constructing, resurfacing, improving, equipping, and maintaining City streets, roads, overpasses, and intersections, including curbs, gutters, sidewalks, trails, traffic signalization and signage, lighting, ADA accessibility, traffic management equipment, utility relocations, drainage and irrigation, and landscaping related thereto, and the acquisition of easements, rights-of-way, and other real property interests necessary therefor, (ii) designing, constructing, acquiring, equipping, and improving the City’s water treatment plant, (iii) renovating, improving, enlarging, and equipping the City’s water system, (iv) designing, constructing, acquiring, and improving one or more City drainage projects, (v) acquiring land, easements, rights-of-way, and other real property interests for an administrative office building housing the governmental functions of the City, including the Public Works Department, (vi) purchasing a vehicle for the City’s Public Works Department, (vii) acquiring and installing equipment for City Hall, the Municipal Annex Building, City water and sewer system facilities, and the animal shelter, (viii) designing, constructing, improving, and equipping park or recreation facilities that are generally accessible to the public and are part of the City’s park system, and (ix) professional services rendered in relation to such projects and the financing thereof; 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 $21,100,000; (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 $29,058,988; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $8,964,255; (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, 2050.  The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271.

Christina Derr
City Secretary
City of Springtown, Texas