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Posted on: June 25, 2021

NOTICE OF INTENTION TO ISSUE CITY OF BEDFORD, TEXAS SERIES 2021A CERTIFICATES OF OBLIGATION

City Council Chambers

TAKE NOTICE that the City Council of the City of Bedford, Texas, shall convene at 6:00 o’clock P.M. on August 24, 2021, at the City Hall, 2000 Forest Ridge Drive, Bedford, Texas, and, during such meeting, the City Council will consider the adoption of one or more ordinances authorizing the issuance of one or more series of certificates of obligation in an aggregate principal amount not to exceed $4,150,000 for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit:  constructing and improving streets, including drainage, landscaping, streetscaping, retaining walls, curbs, gutters, sidewalks, signage, traffic signalization, street noise abatement, utility system relocation incidental thereto and the acquisition of land and rights-of-way therefor and (ii) 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 $134,505,000; (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 $180,338,627.43; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $4,488,096.67; (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 February 1, 2031. 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.

Michael Wells

City Secretary

City of Bedford, Texas


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