NOTICE OF INTENTION TO ISSUE
SERIES 2023A CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Moody, Texas (the “City”), at its meeting to commence at 6:00 P.M. on November 14, 2023 (the “meeting”), at its regular meeting place in the City Hall, 606 A venue E, Moody, Texas, tentatively proposes to authorize the issuance of one or more series of interest bearing certificates of obligation of the City expected to be designated as its Series 2023A, in the total aggregate principal amount not to exceed $3,160,000 for paying contractual obligations incurred in connection with: (I) constructing, improving, extending, expanding, upgrading, and equipping projects connected with the City’s wastewater utility system, including a new wastewater treatment plant; and (2) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation and other matters related thereto. The City presently proposes to provide for the payment of the certificates of obligation by the levy of ad valorem taxes, within the limits prescribed by law. The certificates of obligation will be additionally payable from a limited pledge of surplus revenues of the City’s water and sewer system.
The following information is required pursuant to Texas Local Government Code, Section 27 l.049(b )( 4 ): As of August 22, 2023, principal of all outstanding debt obligations of the City is $478,859.86. As of August 22, 2023, combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $588,130.53. The maximum principal amount of the Certificates to be authorized is $3,160,000. The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $3,160,000. The interest rate on the Certificates is expected to be 0% however the maximum interest rate for the Certificates may not exceed the maximum legal interest rate. The maximum maturity date of the Certificates to be authorized is August I 0, 2053.
Charleen Dowell
Mayor, City of Moody, Texas
NOTICE OF INTENTION TO ISSUE
SERIES 2023B CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Moody, Texas (the “City”), at its meeting to commence at 6:00 P.M. on November I 4, 2023 (the “meeting”), at its regular meeting place in the City Hall, 606 A venue E, Moody, Texas, tentatively proposes to authorize the issuance of one or more series of interest bearing certificates of obligation of the City expected to designated as its Series 2023B, in the total aggregate principal amount not to exceed $315,000 for paying contractual obligations incurred in connection with: (I) constructing, improving, extending, expanding, upgrading, and equipping projects connected with the City’s wastewater utility system, including a new wastewater treatment plant; and (2) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation and other matters related thereto. The City presently proposes to provide for the payment of the certificates of obligation by the levy of ad valorem taxes, within the limits prescribed by law. The certificates of obligation will be additionally payable from a limited pledge of surplus revenues of the City’s water and sewer system.
The following information is required pursuant to Texas Local Government Code, Section 27 l .049(b)(4): As of August 22, 2023, principal of all outstanding debt obligations of the City is $478,859.86. As of August 22, 2023, combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $588,130.53. The maximum principal amount of the Certificates to be authorized is $315,000. The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $449,706. The interest rate on the Certificates is expected to be 3.16% however the maximum interest rate for the Certificates may not exceed the maximum legal interest rate. The maximum maturity date of the Certificates to be authorized is August 10, 2053.
Charleen Dowell
Mayor, City of Moody, Texas