Title
Resolution - A Resolution of the City Council of the City of Mansfield, Texas, Authorizing Publication of Notice of Intention to Issue Certificates of Obligation; Approving the Preparation of a Preliminary Official Statement and a Notice of Sale; and Providing for the Effective Date Thereto
Requested Action
The City Council ratifies 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, 2024 for purpose of (i) designing, developing, constructing, improving, repairing, extending, and expanding streets, thoroughfares, and bridges including streetscaping, related storm drainage improvements, signalization and other traffic controls, sidewalks, street lights and the acquisition of any right of way therefor; (ii) designing, constructing, renovating, improving, and equipping fire department facilities, including Fire Station No. 1 and a logistics and storage building; (iii) acquiring vehicles and equipment for fire, police, public works, code compliance and facilities management, including an ambulance and quint fire truck; (iv) designing, constructing, renovating, improving, and equipping land and facilities for park, open space and recreation purposes including the Mansfield Sports Park and Geyer Commons, and acquiring land therefor; (v) designing, constructing, and equipping a new city hall for housing government functions of the City; (vi) and professional services incurred in connection with the previously mentioned projects and to pay the costs incurred in connection with issuance of the Certificates.
Recommendation
Staff recommends the approval of the Resolution.
Description/History
During the capital planning process in fiscal year 2025, the City established a capital program for fiscal year 2025 and beyond. Discussion occurred regarding prioritization of projects and funding of the projects.
Justification...
Click here for full text