PUBLIC NOTICE: NOTICE OF INTENTION TO ISSUE CERTIFICATES CITY OF WILMER, TEXAS
Publish 2 times in the Ellis County Press on Thursday, July 30, 2020 and Thursday, August 6, 2020.
NOTICE OF INTENTION TO ISSUE CERTIFICATES
City of Wilmer, Texas
NOTICE IS HEREBY GIVEN that the City Council of the City of Wilmer, Texas (the “City”) will meet at its regular meeting place at Wilmer Community Center, Wilmer, Texas (or if necessary, via teleconference in compliance with an advisory issued by the Office of the Governor) at 7:00 p.m. on the 17th day of September, 2020, which is the time and place tentatively set for the passage of an ordinance and such other action as may be deemed necessary to authorize the issuance of the City’s certificates of obligation, payable from ad valorem taxation and a limited (in an amount not to exceed $1,000) subordinate pledge of certain revenues of the water and sewer system of the City, in the maximum aggregate principal amount of $10,000,000 bearing interest at any rate or rates, not to exceed the maximum interest rate now or hereafter authorized by law, as shall be determined within the discretion of the City Council at the time of issuance and maturing over a period of years not to exceed forty (40) years from the date thereof, for the purpose of evidencing the indebtedness of the City to pay all or any part of the contractual obligations to be incurred for the construction of public works and the purchase of materials, supplies, equipment, machinery, buildings, land and rights-of-way for authorized needs and purposes and for the payment of contractual obligations for professional services, to wit: (i) construction, improvements and replacement of all water meters throughout the City; (ii) construction and improvements to the Community Center within the City , (iii) construction and improvements to Old City Hall; (iv) construction and improvements to the E.M. Gilliam Memorial Public Library; (iv) construction of a public works building on Pinto Rd., including the purchase of materials, supplies, equipment, machinery, buildings, and rights-of-way in relation thereto; (v) construction of a Multiplex building on the northeast corner of Belt Line Road and N. Dallas Avenue, including the purchase of materials, supplies, equipment, machinery, buildings, and rights-of-way in relation thereto; (vi) the design and construction of street and roadway improvements within the City, including road, sidewalks, curb, drainage and related improvements; and (vii) professional services rendered in connection with the above listed projects.
The estimated combined principal and interest required to pay the Certificates on time and in full is $13,601,206. Such estimate is provided for illustrative purposes only and is based on an assumed interest rate of 2.68%.
Market conditions affecting interest rates vary based on a number of factors beyond the control of the City, and the City cannot provide any assurance regarding the rate of interest that the Certificates will bear upon their issuance.
As of the date of this notice, the aggregate principal amount of outstanding public securities of the City secured by and payable from ad valorem taxes is $6,946,000, and based on the City’s expectations, as of the date of this notice the combined principal and interest required to pay all of the outstanding public securities of the City secured by and payable from ad valorem taxes (excluding public securities secured by an ad valorem tax but designated by the City as self-supporting) on time and in full is $7,513,213.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 24th day of July, 2020.
Mayra A. Ortiz, City Secretary
City of Wilmer, Texas
Mayra Ortiz, City Secretary – City of Wilmer, Texas
128 N. Dallas Avenue, Wilmer, Texas 75172
Phone: (972) 441-6373
Fax: (972) 441-3061