NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION OF THE CITY OF HEATH, TEXAS

NOTICE IS HEREBY GIVEN that the City Council of the City of Heath, Texas, at its meeting to commence at 6:30 P.M. on July 9, 2013, at its regular meeting place in the City Hall, 200 Laurence Drive, Heath, Texas, tentatively proposes to adopt an ordinance authorizing the issuance of interest bearing certificates of obligation, in one or more series, in an amount not to exceed $6,800,000 for paying all or a portion of the City’s contractual obligations incurred in connection with (i) constructing,  installing, acquiring and equipping additions, extensions and improvements to the City’s waterworks and sanitary sewer system, and the acquisition of land and interests in land for such projects, and (ii) legal, fiscal and engineering fees in connection with such projects.

The City proposes to provide for the payment of such certificates of obligation from the levy and collection of ad valorem taxes in the City as provided by law and from a pledge of  surplus revenues of the City’s waterworks and sewer system, remaining after payment of all operation and maintenance expenses thereof, and all debt service, reserve, and other requirements in connection with all of the City’s revenue bonds or other obligations (now or hereafter outstanding), which are payable from all or any part of the net revenues of the City’s waterworks and sewer system.  The certificates of obligation are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271.

CITY OF HEATH, TEXAS