Details for LEGAL NOTICE NOTICE OF INTENTION TO ISSUE CITY OF MCKINNEY, TEXAS CERTIFICATES OF OBLIGATION TAKE NOTICE

LEGAL NOTICE NOTICE OF INTENTION TO ISSUE CITY OF MCKINNEY, TEXAS CERTIFICATES OF OBLIGATION TAKE NOTICE that the City Council of the City of McKinney, Texas, shall convene at 6:00 oclock P.M. on August 18, 2020, at its regular meeting place in the City Hall located at 222 N. Tennessee Street, McKinney, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in an amount not to exceed EIGHT MILLION THREE HUNDRED THOUSAND DOLLARS ($8,300,000) for the purpose of paying contractual obligations to be incurred for (i) acquiring, constructing, improving, extending, and equipping municipal airport facilities and (ii) professional services rendered in relation to such projects and the financing thereof; such certificates to be payable from ad valorem taxes and a limited pledge of the net revenues of the Citys municipal airport facilities system. In accordance with Texas Local Government Code Section 271.049, (i) the current principal amount of all of the Citys outstanding public securities secured by and payable from ad valorem taxes is $254,210,000; (ii) the current combined principal and interest required to pay all of the Citys outstanding public securities secured by and payable from ad valorem taxes on time and in full is $329,671,063.90; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $9,483,477; (iv) the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity date of the certificates to be authorized is August 15, 2040. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended. City Secretary City of McKinney, Texas

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