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NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE

CERTIFICATES OF OBLIGATION

TO PROVIDE FUNDS FOR SEWER SYSTEM IMPROVEMENT PROJECTS

NOTICE IS HEREBY GIVEN that the City Council of the City of Edgewood, Texas, at its
meeting to commence at 6:30 P.M. on May 18, 2020, at the City Hall, 107 N.E. Front Street,
Edgewood, Texas, tentatively proposes to adopt an ordinance authorizing the issuance of interest
bearing certificates of obligation, in one or more series, in an amount not to exceed $1,540,000
for paying all or a portion of the City’s contractual obligations incurred in connection with (i)
acquiring, constructing, installing, and equipping additions, improvements, extensions, and
equipment for the City’s sewer system, including wastewater treatment plant, sewer lines,
manholes, pumping facilities, valves and related infrastructure improvements; and (ii) legal,
fiscal and engineering fees in connection with such projects. The maximum interest rate for the
certificates may not exceed the maximum legal interest rate. The maximum maturity date for the
certificates is May 1, 2040. The estimated combined principal and interest required to pay the
certificates to be authorized on time and in full is $2,000,000. The current principal of all
outstanding debt obligations of the City is $695,000. The current combined principal and interest
required to pay all outstanding debt obligations of the City on time and in full is $695,000. The
City proposes to provide for the payment of such certificates of obligation from the levy and
collection of ad valorem taxes in the City as provided by law and from a pledge of surplus
revenues of the City’s waterworks and sewer system, remaining after payment of all operation
and maintenance expenses thereof, and all debt service, reserve, and other requirements in
connection with all of the City’s revenue bonds or other obligations (now or hereafter
outstanding), which are payable from all or any part of the net revenues of the City’s waterworks
and sewer system. The certificates of obligation are to be issued, and this notice is given, under
and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter
271.
CITY OF EDGEWOOD, TEXAS

 

 

 

Edgewood, Texas is a beautiful historical town located approximately 60 miles east of Dallas. Founded in the late 1800’s, Edgewood began as a shipping depot on the Texas and Pacific railroad tracks.  Today, Edgewood is known for it’s family-friendly, tight-knit community, making it a wonderful place to call home!