NOTICE OF PUBLIC HEARING AND INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION AND GENERAL OBLIGATION REFUNDING BONDS
NOTICE IS HEREBY GIVEN that the City Council of the City of Leander, Texas, will convene at its regular meeting place of said City Council located at the Pat Bryson Municipal Hall at 201 North Brushy Street, Leander, Texas at 7:00 p.m. on November 3, 2016, and, during such meeting, the City Council will conduct a hearing on whether to issue combination tax and revenue certificates of obligation, and upon conclusion of the public hearing to consider passage of an ordinance and take such other actions as may be deemed necessary to authorize the issuance of combination tax and revenue certificates of obligation in an aggregate principal amount not to exceed $20,000,000 for the purpose of paying contractual obligations of the City to be incurred for the (1) construction of City-wide road and street improvements, including but not limited to North Bagdad Road, including the acquisition of rights-of-way and easements therefor; (2) construction and equipping of a new fire station for the relocation of Fire Station No. 1; (3) constructing and equipping Fire Station No. 4; (4) remodel of the Pat Bryson Municipal Hall, including construction of improvements and equipment; (5) construction of infrastructure improvements, including waterworks and sewer system, streets, drainage and related infrastructure on the eastern side of the City in the vicinity of Ronald Reagan Boulevard (East boundary), RM 2243 (South boundary) and Hero Way (North boundary); and (6) payment of professional services and costs of issuance related thereto. The combination tax and revenue certificates of obligation will be payable from the levy of an annual ad valorem tax, within the limitations prescribed by law, upon all taxable property within the City, and a limited pledge, not to exceed $1,000, of the surplus revenues of the City’s Waterworks and Sewer System. The combination tax and revenue certificates of obligation are to be issued, and this notice is given, under and pursuant to the provisions of the Certificate of Obligation Act of 1971, as amended, Local Government Code Section 271.041, et. seq.
Pursuant to Texas Local Government Code § 271.049, an election on the question of the issuance of the certificates will be called if before the time tentatively set for the authorization and issuance or if before the authorization of the certificates, the City Secretary receives a petition signed by at least five percent of the qualified voters of the City protesting the issuance of the certificates, the City may not issue the certificates unless the issuance is approved at an election ordered, held and conducted in the manner provided for bond elections.
NOTICE IS ALSO GIVEN that the City Council of the City of Leander, Texas, will also during such meeting, conduct a hearing on whether to issue general obligation refunding bonds to refund a portion of the City’s outstanding obligations that are subject to call before final maturity for debt service savings. The City is authorized to issue refunding bonds without an election subject to Chapter 1207, Texas Government Code, as amended. No provision is made for a petition in connection with such refunding bonds. The refunding bonds, if issued will be payable from the levy of an annual ad valorem tax, within the limitations prescribed by law, upon all taxable property within the City.
Mayor, City of Leander, Texas