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Consider adopting Ordinance No. 3495 authorizing the issuance and sale of City of Farmers Branch, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2018, in an aggregate principal amount not to exceed approximately $11,000,000; levying a tax in payment thereof; prescribing the form of said certificates; approving the Official Statement; enacting other provisions relating thereto; declaring an effective date; and, take appropriate action.
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BACKGROUND:
On February 6, 2018, the City Council approved Resolution No. 2018-06 authorizing the publication of Notice of Intention to Issue City of Farmers Branch, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2018, in a principal amount not to exceed $11.0 million, for the purpose of paying contractual obligations to be incurred for the following purposes: (a) designing, constructing, renovating, improving and equipping Farmers Branch Fire Station No. 2, (b) designing, developing, constructing improving, extending and expanding landfill facilities for the City's Camelot Landfill, including streets and roads in connection therewith ((a) and (b) together, the "Project"), and (c) paying professional services of attorneys, financial advisors and other professionals in connection with the Project and the issuance of the Certificates.
This notice was published in the Dallas Morning News in the manner required by law on February 9 and February 16, 2018, with a scheduled meeting date and time of April 3, 2018 at 6:00 p.m. All legal requirements necessary to issue these certificates have been met. The $11.0 million in 20-year maturity certificates will be sold on April 3, 2018, pending a) receipt of Form 1295 (the "Disclosure Form") pursuant to House Bill 1295 prior to approval of the Ordinance authorizing the issuance of sale; and, b) pending approval of this Ordinance.
A final version of the Ordinance, with interest rate pricing included, will be distributed prior to City...
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