THE LOCATION OF THE JULY 14, 2020 CITY COUNCIL MEETING HAS BEEN MOVED TO THE CITY OF SHINER PUBLIC WORKS MEETING ROOM LOCATED AT 810 N AVENUE E, SHINER, TX.
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NOTICE OF INTENTION TO ISSUE
CITY OF SHINER, TEXAS COMBINATION TAX AND
LIMITED PLEDGE REVENUE CERTIFICATES OF OBLIGATION, SERIES 2020
The City of Shiner (the "City") does hereby give notice of intention to issue Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2020, (the “Series 2020 Certificates”), in one or more series, in the maximum principal amount not to exceed $5,490,000, for paying all or a portion of the City's contractual obligations incurred for the purpose of (a) constructing, installing and acquiring additions, extensions and improvements to the City's waterworks and sewer system, including but not limited to, the construction of a new water well, a water treatment plant and water storage tanks, installation of related pipeline and the acquisition of related right-of-way and the acquisition and installation of City-wide water meters; and (b) paying fiscal and engineering fees in connection with such projects. The City proposes to provide for the payment of such Series 2020 Certificates from the levy and collection of ad valorem taxes in the City as provided by law and from a lien on and pledge of "Surplus Revenues", if any, received by the City from the ownership and operation of the City's waterworks and sewer system. The City has outstanding its Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2009 in the amount of $850,000, which the City has designated as self-supporting and which the City pays from revenues of its waterworks and sewer system. The City has no outstanding debt obligations that it pays from ad valorem taxes. The estimated combined principal and interest required to pay the Series 2020 Certificates on time and in full is $ 8,376,297, the estimated interest rate for the Series 2020 Certificates is 3.52%, and the maximum maturity date of the Series 2020 Certificates is September 1, 2045. The City Council intends to consider for passage an Ordinance authorizing the issuance of City of Shiner, Texas Combination Tax and Limited Pledge Revenue Certificates of Obligation, Series 2020, at a Special Meeting to be held at 6:00 p.m. on July 14, 2020, at the Hoffie and Lank Shiner Public Library and Culture Center 115 Wolters/2nd Street, Shiner, Texas 77984.
City of Shiner, Texas
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