Title
Resolution - A Resolution Relating to the City's Notice of Intention to Issue City of Mansfield, Texas Combination Tax and Revenue Certificates of Obligation
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 12, 2016 for purpose of improving City's street infrastructure, relocation of gas and electric utility lines for the Fieldhouse, and funding for an ambulance, police cars, and additional operating equipment.
Recommendation
Staff recommends the approval of the resolution.
Description/History
During the budget process in fiscal year 2016, the City established a capital program for fiscal year 2017. Discussion occured regarding the prioritization of projects and funding the 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
Project Totals $...
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