Title
Resolution - Taking Action on a Resolution Relating to the Giving of Notice of Intention to Issue City of Mansfield, Texas Combination Tax and Revenue Certificates of Obligation, and Declaring Intent to Reimburse Certain Prior Capital Cost
Requested Action
The City Council adopt a resolution giving notice of intent to issue Combination Tax and Revenue Certificates of Obligation. The notice is to announce to the public that the City will be issuing bonds on December 9, 2013 for purpose of improving the City’s street infrastructure and improving the public safety’s infrastructures to meet the current and future needs of the City.
Recommendation
Staff recommends the approval of the Resolution.
Description/History
During the annual budget process for Fiscal Year 2014, the City reviewed the priorities of several spending programs of the City and determined that the following projects were of significant priority and would be in need of funding. Much discussion occurred over the prioritization of funding and it was determined in these meetings that the City’s Street Program and related infrastructure needed necessary funding to continue improving the circulation of traffic within the City and that the City’s Public Safety Department needed additional infrastructure for training, and responding to the community’s public safety needs. This issuance of bonds is for the purpose of improving the City’s street infrastructure and improving the City’s infrastructure of the Public Safety department. Detailed discussion of amounts and the allocation of dollars to specific improvements are as follows:
Street Improvements - $6,800,000
Broad - Wisteria Signal
Clover Hill Road
Country Club, Cypress, Kingston and Pinehurst Courts
Debbie Lane Median (FM 157 to Business 287)
Debbie/US 287 Intersection Design,
Fox Hollow
Ft. Worth Street
Hamil/Hillcrest St., E Dallas to Kay Lynn
N Mitchell Road
Prarieview Drive (Price to Waxahachie & S. Waxahachie (Sherman to new...
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