CITY OF BRUCEVILLE-EDDY
NOTICE OF POSSIBLE QUORUM
Pursuant to the provisions of Chapter 551, V.T.C.A., Government Code, notice is hereby given of a possible quorum of the Bruceville-Eddy City Council:
Title of Events
Sewer System Bid Opening
144 Wilcox Drive, Eddy, Texas
May 9, 2024, 10:00 a.m.
This notice is posted in order to meet the requirements of the Open Meetings Act, in the event that the number of City Council members present at the meeting/event makes the Act applicable.
As a governmental body, the City Council will not deliberate, take any formal action on any items discussed, nor will meeting minutes be produced for this notice.
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Bruceville-Eddy, Texas (the “City”), will meet in the Bruceville-Eddy City Hall, 144 Wilcox Drive, Eddy, TX76524 at 6:00 p.m. on the 6th day of June, 2024, to adopt an Ordinance and take such other action as may be deemed necessary to authorize the issuance of the City of Bruceville-Eddy, Texas Certificates of Obligation, in one or more series, payable from City ad valorem taxes and net revenues of the waterworks and sewer system of the City, in the maximum aggregate principal amount of $15,861,000, bearing interest at any rate or rates, not to exceed the maximum interest rate now or hereafter authorized by law, as shall be determined within the discretion of the City Council, and maturing over a period of years not to exceed forty (40) years from the date thereof, for the purpose of evidencing the indebtedness of the City for all or any part of the cost of construction of a new wastewater treatment and sewerage system to also include customer service facilities, land acquisition, rights-of-way, permits, professional services, and all appurtenances in connection therewith; and the cost of professional
services incurred in connection there with.
The public is further hereby notified as follows:
(a) As of the date of this notice the current principal balance of all outstanding debt obligations of the City is $1,635,326.
(b) As of the date of this notice the combined principal and interest required to
pay all outstanding debt obligations of the City on time and in full (which is based on the City’s expectations related to the interest due on any variable rate debt of the City) is $1,848,162.35.
(c) The maximum principal amount of Certificates of Obligation to be issued is$15,861,000.
(d) The estimated combined principal and interest required to pay theCertificates of Obligation to be authorized on time and in full is $26,168,959.37.
(e) The estimated maximum interest rate for the Certificates of Obligation to be issued is 2.75% per annum. Such interest rate may vary based on market conditions but will not exceed the maximum legal interest rate.
(f) The maximum maturity date of the Certificates of Obligation to be
authorized is 40 years from the date the Certificates of Obligation are issued.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY OF BRUCEVILLE-EDDY, TEXAS, this 11thday of April, 2024.
Mayor – Linda Owens
City of Bruceville-Eddy, Texas