Title
Consideration and action with respect to "RESOLUTION DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF PFLUGERVILLE, TEXAS COMBINATION TAX AND LIMITED REVENUE CERTIFICATES OF OBLIGATION, SERIES 2017A AND OTHER MATTERS RELATED THERETO." (Utility - wastewater capital improvements)
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 utility capital improvement projects including: expansion of the Central Wastewater Treatment Plant, New Sweden Package Treatment Plant (Phase 1), and West SH130 Interceptor (Phase 1). The utility fund capital improvements schedule is attached to the agenda item. By approving this resolution, the City is not bound to the issuance of certificates of obligation. However, if issued, the total amount cannot exceed $19,200,000, as stated in the attached resolution, prepared by Richard Donoghue, bond counsel. This amount includes all project and bond issuance costs.
This issurance of certificates of obligation will be issued in conjunction with additional certificates of obligation (taxable and tax-exempt) for the Pflugerville tax increment reinvestment zone (TIRZ) #1, general obligation bonds funding projects approved by Pflugerville voters in 2014 and 2015, and potentially refunding bonds. The Series 2017B (tax-exempt) and 2017C (taxable) certificates of obligation reimburse projects related to the Pflugerville TIRZ #1 and the Notice of Intent to issue for those certificates of obligation are included as subsequent agenda items. The City will also be issuing general obligation (limited tax) bonds not to exceed $18,744,000 in total, for roadway ($14,101,000) and parks ($4,643,000) projects. This represents the third and final issuance of the November 2014 bond election and the second and final issuance of the November 2015 bond election. Voters approved the issuance of $28 million for ro...
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