TAKE NOTICE that the City Council of the City of Mineola, Texas, shall convene at 5:30 p.m. on October 27, 2025, at its regular meeting place in City Hall located at 300 Greenville Highway, Mineola, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in an amount not to exceed FIVE HUNDRED FIFTY THOUSAND DOLLARS ($550,000) for the purpose of paying contractual obligations to be incurred for (i) the construction of public works, to wit: designing, constructing, renovating, improving, and equipping the City’s water system and any necessary land and rights of way therefor and (ii) professional services rendered in connection with such projects and the financing thereof, such certificates to be payable from ad valorem taxes and a pledge of the surplus net revenues of the City’s waterworks and sewer system. In accordance with Texas Local Government Code Section 271.049, (i) the current principal amount of all of the City’s outstanding public securities secured by and payable from ad valorem taxes is $2,611,250; (ii) the current combined principal and interest required to pay all of the City’s outstanding public securities secured by and payable from ad valorem taxes on time and in full is $3,913,500; (iii) the estimated combined principal and interest required to pay the certificates of obligation to be authorized on time and in full is $736,414; (iv) the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (v) the maximum maturity date of the certificates to be authorized is September 1, 2055. The above information excludes $13,992,750 in principal amount of outstanding debt obligations the City has designated as self-supporting which the City reasonably expects to pay from revenue sources other than ad valorem taxes; provided, however, that in the event such self-supporting revenue sources are insufficient to pay debt service, the City is obligated to levy ad valorem taxes to pay such debt obligations. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended.
Lisa Morrison, City Secretary
City of Mineola, Texas