Title
Ordinance - An Ordinance Authorizing the Issuance and Sale of City of Mansfield, Texas Combination Tax and Revenue Certificates of Obligation, Series 2017; Levying a Tax in Payment Thereof; Prescribing the Form of Said Certificates; Awarding the Sale of the Certificates; Approving the Official Statement; Approving an Engagement Letter; and Enacting Other Provisions Relating Thereto
Requested Action
Approval of the Ordinance authorizing the issuance of the sale of city of Mansfield, Texas combination tax and revenue certificates of obligation, taxable series 2017 in an aggregate amount not to exceed $19,850,000.
Recommendation
Staff recommends the approval of the Ordinance.
Description/History
During the budget process in fiscal year 2016, the City established a capital program for fiscal year 2017. Discussion occurred regarding the prioritization of projects and funding of City’s Street Program. The funding will continue improving the traffic circulation within the City. Additionally, the City is funding the operating equipment needs of the department. Most of the equipment cost is for public safety - detailed list is attached.
Street and Utility Improvements - $18,350,000
Debbie Lane $3,200,000
Tarrant County CDBG 400,000
School Flasher System 250,000
Seeton Bridge at Joe Pool 100,000
North St. Study at Bridge/RR 300,000
Day Mair (E. Broad to Seeton) Design/ROW 1,000,000
Misc. Residential/Intersection Reconstruction 1,000,000
Holland - Design/ROW 600,000
Price Road Design 500,000
S Main-Broad to Hunt 3,500,000
Turner Warnell Construction 1,500,000
360 Bridge Participation 5,000,000
Gas and Electric Utilities 700,000
Schematic - ROW Russell/Connector 300,000
Proje...
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