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

TAKE NOTICE the City Council of the City of Hurst, Texas, shall convene at 6:30 o’clock P.M. on June 28, 2022, at its regular meeting place in the City Hall, 1505 Precinct Line Road, Hurst, 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 a principal amount not to exceed $2,000,000 for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and renovating streets, alleys, culverts and bridges, including drainage, landscaping, screening walls, curbs, gutters, sidewalks, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor, (ii) drainage improvements, including the acquisition of land and rights-of-way therefor, and (iii) professional services rendered in connection therewith, and such certificates are 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 $57,715,000; (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 $71,801,006; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $2,892,134; (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, 2042. 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.

City Secretary
City of Hurst, Texas

Posted: Thursday, May 5, 2022 at 9:00 AM

Municipal Debt

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