CITY OF JEFFERSON, TEXAS
NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE
CERTIFICATES OF OBLIGATION
TO PROVIDE FUNDS FOR WATER SYSTEM IMPROVEMENT PROJECTS
NOTICE IS HEREBY GIVEN that the City Council of the City of Jefferson, Texas, at its meeting to commence at 5:30 P.M. on May 20, 2025, at the City Hall, 305 E. Austin St., Jefferson, Texas, tentatively proposes to adopt an ordinance authorizing the issuance of interest bearing certificates of obligation, in one or more series, in an amount not to exceed $605,000 for paying all or a portion of the City’s contractual obligations incurred in connection with (i) acquiring, constructing, and installing additions, improvements, extensions, and equipment for the City’s waterworks and sewer system, including without limitation, water lines, meters, SCADA, pumps, valves, fittings and related infrastructure improvements; and (ii) legal, fiscal and engineering fees in connection with such projects. The maximum interest rate for the certificates may not exceed the maximum legal interest rate. The maximum maturity date for the certificates is September 30, 2055 and the estimated combined principal and interest required to pay the certificates to be authorized on time and in full is $990,093. The current principal of all outstanding debt obligations of the City is $3,883,444. The current combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $4,323,801. The City proposes to provide for the payment of such certificates of obligation from the levy and collection of ad valorem taxes in the City as provided by law and from a pledge of certain surplus revenues of the City’s waterworks and sewer system, remaining after payment of all operation and maintenance expenses thereof, and all debt service, reserve, and other requirements in connection with all of the City’s revenue bonds or other obligations (now or hereafter outstanding), which are payable from all or any part of the net revenues of the City’s waterworks and sewer system. The certificates of obligation are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271.
Certificate of Posting
I, Melissa Boyd, City Secretary for the City of Jefferson, Texas do hereby certify that this Notice was posted at City Hall, 102 N. Polk Street, a place readily accessible to the general public at all times, on this the 19 day of March 2025, at 5:00 p.m. and remained to posted for at least 72 continuous hours preceding the scheduled time of said meeting.
Melissa Boyd, City Secretary