May 26, 2017 – City of La Joya – Notice of Intention
NOTICE OF INTENTION TO ISSUE
CITY OF LA JOYA, TEXAS
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the Board of Commissioners (the Governing Body) of the City of La Joya, Texas (the City) will convene at its regular meeting place in the City Hall, 101 Leo Ave., La Joya, TX 78560, at 6:00 o’clock P.M., on June 27, 2017, and, during such meeting, the Governing Body will consider the passage of an ordinance or ordinances and take such other actions as may be deemed necessary to authorize the issuance of one or more series of certificates of obligation in an aggregate principal amount not to exceed $500,00.00 (the Certificates) for the purpose or purposes of paying contractual obligations of the City to be incurred for making permanent public improvements and for other public purposes. Funding will be used to pay for the cost overruns relating to a new City Hall facility, which real property and improvements are more particularly described as Lot “A”, QUAIL-HOLLOW ESTATES, an addition to the City of La Joya, Hidalgo County, Texas according to the map or plat thereof recorded in volume 31, Page 179, Map Records, Hidalgo County, Texas; including (1) architect fees; (2) construction costs for the improvements to the aforesaid property; and (4) the payment of professional services related to the construction and financing of the aforementioned project. These cost overruns are in addition to the $3,482,000.00 that was financed by certificates of obligation and refunding bonds of the City in 2016 to finance the aforementioned project. The certificates of obligation will be payable from the levy of an annual ad valorem tax, within the limitations prescribed by law, upon all taxable property within the City and from a lien on and pledge of net revenues derived by the City from the operation of the City’s Waterworks and wastewater system. The Certificates are to be issued, and this notice is given, under and pursuant to the provisions of the Certificate of Obligation Act of 1971, as amended, Texas Local Government Code, Section 271.041 through Section 271.065 and Chapter 1502, as amended, Texas Government Code. ______________________________
Julianita R. Sabala
City Secretary
City of La Joya, Texas