Res 26-2026 PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTS OF OBLIGATION 03/17/2026 Resolution No. 26-2026
DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
WHEREAS,this City Council deems it advisable to give notice of intention to issue certificates of obligation
of the City of Wichita Falls,Texas, as hereinafter provided; and
WHEREAS,the City Council hereby finds,considers and declares that the reimbursement of the payment by
the City of expenditures in connection with the design,planning,acquisition and construction of the projects described
in the form of Notice of Intention to Issue Combination Tax and Revenue Certificates of Obligation attached hereto
(the"Projects")will be appropriate and consistent with the lawful objectives of the City and,as such,chooses to declare
its intention,in accordance with the provisions of Section 1.150-2 of the U.S.Treasury Regulations,to reimburse itself
for such payments at such time as it issues the Certificates of Obligation to finance the Projects; and
WHEREAS,it is hereby officially found and determined that the meeting at which this Resolution was passed,
was open to the public and public notice of the time,place, and purpose of said meeting was given, all as required by
Chapter 551,Texas Government Code.
THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS:
1. Attached hereto is a form of the Notice of Intention to Issue Combination Tax and Revenue Certificates
of Obligation,the form and substance of which is hereby adopted and approved.
2. The City Clerk shall cause said notice to be published in substantially the form attached hereto, in a
newspaper, as defined by Subchapter C, Chapter 2051,Texas Government Code, of general circulation in the area of
said City, once a week for two consecutive weeks, the date of the first publication thereof to be before the 45th day
before the date tentatively set for the adoption of the ordinances authorizing the issuance of such certificates of
obligation as shown in said notice.
3. The City Clerk shall cause said notice to be posted in substantially the form attached hereto, on the
City's internet website for at least 45 days before the date tentatively set for the adoption of the ordinances authorizing
the issuance of such certificates of obligation as shown in said notice.
4. That all costs to be reimbursed pursuant to this Resolution will be preliminary expenditures or capital
expenditures; the proposed certificates of obligation shall be issued within 18 months of the later of(i) the date the
original expenditures are paid or (ii) the date on which the property, with respect to which such expenditures were
made,is placed in service; and the foregoing notwithstanding,the certificates of obligation will not be issued pursuant
to this Resolution on a date that is more than three years after the date any expenditure which is to be reimbursed is
paid.
5. The City Council hereby authorizes and directs the Mayor, City Manager, City Clerk, Chief Financial
Officer/Director of Finance and all other officers, employees and agents of the City, in consultation with the City
Attorney, if necessary, to do and perform all such acts and to execute, acknowledge and deliver in the name and on
behalf of the City such documents, agreements, certificates and other instruments, whether or not mentioned in this
Resolution,as may be necessary or desirable in order to carry out the terms,provisions and actions provided for in this
Resolution and in connection with the issuance of the certificates of obligation.
6. This Resolution shall become effective immediately upon adoption.
[Execution Page Follows]
APPROVED AND ADOPTED ON MARCH 17,2026.
ATTEST:
B
tY Mayor
Clerk Ma or
[CITY SEAL]
CITY OF WICHITA FALLS, TEXAS
NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Council of the City of Wichita Falls, Texas, at its meeting to commence
at 8:30 A.M. on May 19, 2026, at its regular meeting place at 1000 Fifth Street, Hayley Eye Clinic Seminar Room,
Wichita Falls,Texas,tentatively proposes to adopt one or more ordinances authorizing the issuance of interest bearing
certificates of obligation,in one or more series,in an amount not to exceed$26,900,000 for paying all or a portion of
the City's contractual obligations incurred in connection with: (i) acquiring, constructing, renovating, installing and
equipping parks and recreational improvements; (ii) acquiring, constructing, renovating and equipping public safety
improvements; (iii) acquiring land and interests in land necessary for such projects; and (iv) paying legal, fiscal,
engineering and architectural fees in connection with these 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 limited 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 Texas Local Government Code, Subchapter C of Chapter
271, as amended("Chapter 271").
In accordance with the provisions of Chapter 271,the following information has been provided by the City:
(a) The principal amount of all outstanding debt obligations of the City is$55,445,000;
(b) The current combined principal and interest required to pay all outstanding debt obligations of the City on time
and in full is $65,914,764;
(c) The maximum principal amount of the certificates of obligation to be authorized is$26,900,000;
(d) The estimated combined principal and interest required to pay the certificates of obligation to be authorized on
time and in full is$42,113,642;
(e) The estimated interest rate for the certificates of obligation to be authorized is 3.98%; and
(f) The maximum maturity date of the certificates of obligation to be authorized is September 1,2046.
The City has not designated any of its outstanding debt listed above as self-supporting for purposes of Chapter 271.
CITY OF WICHITA FALLS,TEXAS