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Posted on: July 22, 2022

Posted 07/22/2022 2:35PM

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Posted 07/22/2022 2:35PM

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

TAKE NOTICE that the City Council of the City of Nacogdoches, Texas, shall convene at 5:30 p.m. on September 20, 2022, at its regular meeting place in City Council Chamber located at 202 East Pilar Street, Nacogdoches, Texas, 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 TWENTY ONE MILLION ONE HUNDRED THOUSAND DOLLARS ($21,100,000) for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and equipping fire-fighting facilities, including acquisition of land; (ii) constructing, improving and renovating streets, alleys, culverts and bridges, including drainage and erosion control, landscaping, screening walls, curbs, gutters, sidewalks, lighting, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor; (iii) constructing, improving and equipping park facilities; (iv) constructing and improving flood control and drainage facilities and improvements, including the acquisition of land and rights-of-way therefor and (v) 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 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 $24,346,000; (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 $26,134,162; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $32,782,733; (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, 2047. 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, as amended.

Jan Vinson, City Secretary
City of Nacogdoches, Texas

Posted 07/22/2022 2:35PM

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