NOTICE IS HEREBY GIVEN that the City Council of the City of Denison, Texas, at its meeting to commence at 6:00 p.m. on March 16, 2026, at its regular meeting place at City Hall, 300 W. Main, Denison, Texas, tentatively proposes to authorize the issuance of interest bearing certificates of obligation of the City, in one or more series, in an aggregate principal amount not to exceed $20,300,000, for the purpose of 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 system, and the acquisition of land and interests in land for such projects; and (ii) legal, fiscal, design and engineering fees in connection with such projects. The City proposes to provide for the payment of said series (one or more) of such certificates of obligation from a pledge of ad valorem taxes levied and collected in the City as provided by law, and from a limited 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 maximum interest rate for the certificates will not exceed the maximum legal interest rate, the maximum maturity date for the certificates is February 15, 2046, and the estimated combined principal and interest required to pay the certificates to be authorized on time and in full is $29,599,775.
The City currently has outstanding debt obligations secured by and payable from ad valorem taxes equal to $238,100,000 in principal amount and $353,203,376 in combined principal and interest required to pay such outstanding debt obligations on time and in full. The certificates of obligation 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.
In the event that the City Council will be unable to meet at the City Hall on March 16, 2026, the City will post on its website, www.denisontx.gov, information for persons to attend the meeting by telephone, teleconference or other electronic means.
-CITY OF DENISON, TEXAS