Title
Consideration of and action on the adoption of a resolution by the City Council of the City of Deer Park, Texas, authorizing the publication of Notice of Intention to Issue Certificates of Obligation; and approving other matters incidental thereto.
Body
Summary:
The City intends to issue certificates of obligation for the construction of new Municipal Court Building. The maximum aggregate principal of the certificates will not exceed $7,000,000.
The City's Financial Advisor, John Robuck, from BOK Financial Securities, Inc., will be in attendance at the meeting to present a tentative schedule of events and to answer any questions related to this planned issuance.
Attached is a proposed resolution authorizing publication of the Notice of Intention to Issue Certificates of Obligation; approving the preparation of a preliminary statement; and approving other matters incidental thereto.
Fiscal/Budgetary Impact:
Payment of the debt service and issuance costs related to these certificates will be funded by ad valorem tax revenues.
Recommended action
Approve the resolution authorizing the publication of Notice of Intention to Issue Certificates of Obligation; and approve other matters incidental thereto.