Public Notices

NOTICE OF INTENTION REGARDING
THE ISSUANCE OF ONE OR MORE SERIES OF THE 
CITY OF TEMPLE, TEXAS
COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION

NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Temple, Texas, to issue on a tax-exempt and/or taxable basis one or more series of interest bearing certificates of obligation of the City entitled "City of Temple, Texas Combination Tax and Revenue Certificates of Obligation" (the "Certificates") for the purpose of paying contractual obligations incurred or to be incurred by the City for: (a) constructing, improving, extending, expanding, upgrading and/or developing streets, roads, bridges, trails, sidewalks, intersections, parking structures and other street/road improvement projects including related infrastructure such as water, wastewater and drainage improvements, purchasing any necessary rights-of-way and other related infrastructure and equipment costs including the Hartrick Bluff Road reconstruction, the Poison Oak Road Realignment, 42nd Street reconstruction, Kegley Roadway improvements, Veteran’s Memorial Boulevard improvements, Young Avenue/Lower Troy Road improvements, reconstruction of Midway Drive, Nugent Avenue improvements, Avenue D roadway and pedestrian improvements, 14th Street Trail and Road pedestrian improvements, Pavement Preservation and Reconstruction projects throughout the City, the Neighborhood Identity Placemaking projects, and traffic signal replacements, upgrades and additions; (b) constructing, renovating, repairing, demolishing and equipping existing City buildings and facilities including the Sammons Community Center, the Patsy Luna Building, the Jamie Clements Complex and the City Library; (c) designing, constructing, improving and equipping City park facilities and trails including Sammons Clubhouse and Golf Course renovations, Storybrook Grove Park improvements, Nettles Park improvements, Von Rosenburg Park improvements, Gober Recreation Center improvements, Colquitt Park improvements, Walker Park improvements, and improvements to boardwalk and observation deck at Miller Springs Nature Center; (d) designing, constructing, improving, acquiring and equipping City public safety facilities including Fire Station Number 7; (e) acquisition of fire engines and fire squad vehicles; and (f) professional services including fiscal, engineering, architectural and legal fees and other such costs incurred in connection therewith including the costs of issuing the Certificates. 

The City Council tentatively proposes to consider for first and final reading at a meeting to commence at 5:00 p.m. on the 16th day of May, 2024 at Council Chambers, 2 North Main Street, Temple, Texas, 76501, the passage of an ordinance authorizing the issuance of the Certificates.  The maximum amount of the Certificates that may be authorized for such purpose is $64,000,000.  The City Council presently proposes to provide for the payment of such Certificates from the levy and collection of ad valorem taxes in the City as provided by law and from the surplus revenues of the City's utility system in an amount not to exceed $10,000, 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 utility system. The following information is required pursuant to Texas Local Government Code, Section 271.049(b)(4):  As of March 7, 2024, principal of all outstanding debt obligations of the City is $416,160,000.  As of March 7, 2024, combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $570,958,752.  The maximum principal amount of the Certificates to be authorized is $64,000,000.  The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $99,051,300.  The estimated interest rate for the Certificates to be authorized is 4.50%. Such estimate takes into account a number of factors, including the issuance schedule, maturity schedule and the expected bond ratings of the proposed bonds.  Such estimated maximum interest rate is provided as a matter of information but is not a limitation on the interest rate at which the Certificates, of any series thereof, may be sold.  The maximum maturity date of the Certificates to be authorized is August 1, 2049.

CITY OF TEMPLE, TEXAS