October 7, 2016 – City of Alton Notice of Intent
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE is hereby given that it is the intention of the City Commission (the “City Commission”) of the City of Alton, Texas (the “City”) to adopt an Ordinance providing for the issuance of interest- bearing obligations of the City presently contemplated to be designated and known as the “CITY OF ALTON, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016A” (the “Certificates of Obligation”) for the purpose of providing for the payment of contractual obligations to be incurred in connection with the design, planning, acquisition, construction, equipping, expansion, repair, renovation, and/or rehabilitation of certain City-owned public property, specifically being: (1) street improvements including drainage, sidewalks, and streetlights; (2) fire protection system improvements, including new hydrants and water storage; (3) sewer system improvements, including collection and treatment; (4) city park improvements including Garcia and Vela Park expansions and renovations; (5) City public facility improvements, including a civic center/library; and (6) payment of contractual obligations for professional services in connection therewith (to wit: consultants, engineering, financial advisory, and legal). The City Commission tentatively proposes to authorize the issuance of the Certificates of Obligation at its regular meeting place at 509 South Alton Boulevard, Alton, Texas, at a meeting of the City Commission to be commenced at 7:30 p.m. on the 8th day of November, 2016, in an amount expected not to exceed $4,000,000. The City Commission proposes to provide for payment of the Certificates of Obligation from a pledge of an annual ad valorem tax levied upon all taxable property within the City, within the limits prescribed by law, as well as an additional pledge of the net revenues of the operation of the City’s water utility system.
/s/ Salvador Vela
Mayor City of Alton, Texas