Title
Approving a Resolution Directing the Publication of Notice of Intention to Issue City of Pflugerville, Texas, Combination Tax and Revenue Certificates of Obligation, and Other Matters Related Thereto. (Tax-exempt Certificates of Obligation, Series 2016A)
Summary
This is the first step in the process of issuing debt to finance projects approved by the City Council. The proposed certificates of obligation will be used to fund land acquisition, roadway, park, and facility improvement projects and police software. By approving this resolution, the City is not bound to the issuance of certificates of obligation. However, if issued, the total amount cannot exceed $9,380,000, as stated in the attached resolution, prepared by Richard Donoghue, bond counsel. This amount includes all project and bond issuance costs.
The projects outlined in the attached summary include roadway, park, and facility projects and acquisition of land and software. Roadway projects include the design of roadway along the SH 45 frontage road and the construction of four traffic signals. Improvements to two park restroom facilities (Gilleland and Pfluger) and renovations to the Gilleland Pool House and Bohls House comprise the park projects. Facility improvements include Phase I of the Animal Shelter expansion at the current location and construction of a field crew building for Public Works (general fund portion only, the utility fund will match this amount as proposed in the fiscal year 2017 budget). Land acquisition includes property near the Justice Center for future expansion which is being considered later on this agenda. Finally, a CAD/RMS software system for the Police Department will be included in the issuance at a five year payout, to more closely match the potential life of the asset.
These certificates of obligation will be issued in conjunction with additional certificates of obligation (taxable and tax-exempt) for the Pflugerville tax increment reinvestment zone ...
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