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January 12, 2018 – City of Palmview – Notice of Intention




NOTICE IS HEREBY GIVEN that the City Council (the Governing Body) of the City of Palmview, Texas (the City) will convene at its regular meeting place in the City Hall, 400 W. Veterans Blvd., Palmview, TX 78572, at 6:00 o’clock P.M., on February 6, 2018, 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 $2,950,000.00 (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 within the City. Funding will be used to pay for street paving and improvements, wastewater utility connections and general ledger software related thereto; including (1) architect and engineering fees; (2) construction costs for the improvements; and (3) the payment of professional services related to the construction and financing of the aforementioned project. The certificates of obligation will be payable from (1) the levy of annual ad valorem property taxes, within the limitations prescribed by law, upon all taxable property within the City; (2) a lien on and pledge of wastewater utility connection fees and (3) a lien on and pledge of revenues received by the City for these purposes as per an inter-local agreement with the Palmview Municipal Development District. 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.

Annette Villarreal, City Secretary, City of Palmview, Texas

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