Notice of Intention to Issue Certificates of Obligation
NOTICE IS HEREBY GIVEN that the Commissioners Court of Bell County, Texas (the "County"), intends to meet in the Commissioners Courtroom of the Bell County Courthouse, 101 E. Central, Belton, Texas 76513, at 9:00 a.m. on the 24 day of May, 2021, to adopt an Order and take such other action as may be deemed necessary to authorize the issuance of Bell County, Texas Certificates of Obligation, payable from County ad valorem taxes and a limited pledge, not to exceed $10,000, of the revenues derived from the Bell County juvenile justice center, with such Certificates of Obligation to be issued in the maximum aggregate principal amount not to exceed $ 138,015,000, 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 Commissioners Court, for the purpose of evidencing the indebtedness of the County for all or any part of the cost of the following:
- acquisition, construction, enlargements, renovations, repairs and improvements of county facilities to include the current jail complex, a possible new jail
complex, the sheriff office building, county annex complexes and museum storage;
- purchase of technical and computer equipment (including hardware and software) to include a financial management system; and
- the cost of professional services, furnishings, fixtures, and equipment in connection therewith
(a) As of the date of this notice the current principal balance of all outstanding debt obligations of the County is $ 96,940,000.
(b) As of the date of this notice the combined principal and interest required to pay all outstanding debt obligations of the County on time and in full (which is based on the County’s expectations related to
the interest due on any variable rate debt of the County) is $ 110,729,139.97.
(c) The maximum principal amount of Certificates of Obligation to be authorized is $ 138,015,000.
(d) The estimated combined principal and interest required to pay the Certificates of Obligation to be authorized on time and in full is $ 188,998,492.50.
(e) The interest rate for the Certificates of Obligation to be issued shall 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 such Certificates of Obligation are issued.
WITNESS MY HAND AND THE OFFICIAL SEAL OF BELL COUNTY, TEXAS, this 29 day of March, 2021.
BELL COUNTY, TEXAS By: David Blackburn, County Judge
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