News Flash


Posted on: July 28, 2020

Notice of intention to repurpose bond proceeds

Mansfield City Newsroom

NOTICE IS HEREBY GIVEN that the City Council of the City of Mansfield, Texas (the “City”), will meet in the Council Chambers at the City Hall, 1200 East Broad Street, Mansfield,

Texas, the regular meeting place of the City Council, at 7:00 p.m. on the 14th day of September, 2020 (unless alternative meeting arrangements are required to address public health concerns, which meeting arrangements will be specified in the notice of such meeting posted in accordance with applicable law), which is the time and place tentatively set for the passage of an ordinance amending Ordinance No. 2162-20 that authorized the issuance of City of Mansfield, Texas Combination Tax and Revenue Certificates of Obligation, Series 2020 (the “Certificates) for the purpose of paying contractual obligations to be incurred with respect to the projects described in

Ordinance No. 2162-20. The ordinance amending Ordinance No. 2162-20 will (i) repurpose the project described as “designing new police facilities” to provide for “designing, constructing, renovating, improving and equipping of existing police facilities” and for “designing, constructing and equipping of a joint public safety training facility” and (ii) add an additional project providing for “designing, constructing, improving and equipping of park and recreation facilities, including the Mansfield Linear Park project.” The Certificates were delivered and the City received the proceeds of the Certificates on February 19, 2020. Said Certificates are payable from the levy of a direct and continuing ad valorem tax against all taxable property within the City sufficient to pay the interest on this series of Certificates as due and to provide for the payment of the principal thereof as the same matures, as authorized by Chapter 271, Subchapter C, Texas Local Government Code, as amended, and from all or a part of the surplus revenues of the City’s waterworks and sewer system, such pledge of surplus revenues being limited to $1,000.


/s/Susan Marin, City Secretary

City of Mansfield, Texas

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