Posted on February 04, 2020
TAKE NOTICE the City Council of the City of Boyd, Texas, shall convene at 6:30 o’clock P.M. on February 18, 2020, at its regular meeting place in the Boyd Community Center, 420 E. Morton Avenue, Boyd, 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 $1,350,000 for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and equipping park facilities and (ii) professional services rendered in connection thereof; and such certificates are to be payable from ad valorem taxes and a limited pledge of the net revenues of the City’s 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 $2,913,000; (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 $3,672,072; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $1,961,583; (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, 2040. 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.
City of Boyd, Texas