Title
Ordinance - An Ordinance of the City of Mansfield, Texas Authorizing the Issuance and Sale of City of Mansfield, Texas Combination Tax and Revenue Certificates of Obligation, Series 2014; Levying a Tax in Payment Thereof; Prescribing the Form of Said Certificates; Approving a Purchase Agreement; Approving the Official Statement and an Engagement Letter; and Enacting other Provisions Relating to the Subject
Requested Action
The City Council of the City of Mansfield, Texas, adopt an Ordinance Authorizing the Issuance and Sale of Bonds, Series 2014, for the purpose of Street Improvements and Public Safety in the City of Mansfield, Texas.
Recommendation
Staff recommends the approval of the Ordinance.
Description/History
During the annual budget process for Fiscal Year 2014, the City reviewed the priorities of several 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 during these meetings that the City’s Street Program needed funding to continue improving the circulation of traffic within the City; and that the City’s Public Safety Department needed infrastructure for training and responding to the community’s needs of the public safety. This issuance of bonds is for the purpose of improving the City’s street infrastructure, and improving the infrastructure of the public’s 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 concrete)
Price Road (Dallas to Main)
South He...
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