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Bexar County News

Posted on: October 19, 2021

Notice of Intention to Issue Certificates of Obligation

NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION


TAKE NOTICE that the Commissioners Court (the “Court”) of Bexar County, Texas (the “County”), shall convene in regular term at 9:00 o’clock A.M. on the 7th day of December, 2021, at its regular meeting place in the Bexar County Courthouse, and, during such meeting, the Court will consider the passage of one or more orders authorizing the issuance, from time to time, of one or more series of certificates of obligation (the “Certificates”) in a maximum aggregate principal amount not to exceed $150,000,000, bearing interest at any rate or rates not to exceed the maximum interest rate authorized by law, and maturing over a period not to exceed forty (40) years from the date of issuance, for the purpose of paying contractual obligations of the County to be incurred for making, renovating, improving and equipping permanent public improvements and designated infrastructure, and for other public purposes, including public safety facilities, parks, road, flood control, technology projects, creeks and trails,  to-wit: (1) designing, constructing, renovating, improving, and equipping existing County buildings and facilities, including the Bexar County Courthouse, Courthouse Annex, Bexar County Jail, the “old” Bexar County Jail, Bexar County Adult Detention Facilities (Annex and Detention Center), Bexar County Juvenile Detention Facilities, Justice of the Peace/Constable Facilities, Forensic Science Center, Technology Centers, Bexar County Crime Lab, Bexar County Sheriff’s Department law enforcement facilities, Bexar County Justice Center, Bexar County District Court Facilities, Bexar County Data Center, Bexar County Public Works Facility, Vista Verde Buildings, Toudouze Work Release Building, Military and Veterans Services Center, and other Bexar County-owned administrative facilities, parks and recreational facilities, mental health services facilities, library facilities, parking facilities, workforce training facilities, animal care facilities, and civil and criminal justice facilities; (2) acquiring computer hardware and software and other technology (including information technology system and network upgrades and improvements), communication, and audio/visual equipment and the payment of professional fees relating thereto, including the County-wide Integrated Justice System and Financial Management System; (3) acquiring, constructing, renovating, improving, and equipping parks and recreational facilities and the purchase of park vehicles; (4) acquiring vehicles and equipment for various County offices, departments and purposes; (5) acquiring and installing energy conservation equipment for County facilities; (6) designing, constructing, repairing, and improving County roads (including utilities relocation and related bridge and drainage improvements); (7) designing acquiring, constructing and equipping of County-wide Americans with Disability Act improvements, (8) designing, acquiring, constructing and equipping parking facilities; (9) designing, acquiring, constructing and equipping animal control facility; (10) designing, acquiring, constructing and equipping a County mental health services facility; (11) constructing improvements for flood control purposes, including landscaping, sidewalk, road, and bridge related improvements; (12) constructing improvements for flood control purposes, including  improvements along, within, and as a part of various river, creek, stream, and slough projects within the County; (13) acquisition of technology for flood control  improvements; (14) constructing and improving County parks and the acquisition of land and interests in land in connection therewith, including, without limitation, the acquisition of open space park land, and acquiring conservation easements on land for any authorized purposes, including, without limitation, parks, public safety, water supply and quality purposes, to retain or protect natural, scenic, or open-space parks and recreational, or open-space use, protect natural resources, maintain or enhance air or water quality, or conserve water quantity or quality; (15) acquiring materials, supplies, equipment, machinery, land, easements, right-of-ways and other interests in real property for authorized needs and purposes relating to any of the foregoing purposes; and (16) other professional services related to the design, construction, project management, and financing of the aforementioned projects.  The Certificates will be payable from the levy of an annual ad valorem tax, within the limitations prescribed by law, upon all taxable property within the County and from a limited lien on and pledge of certain of the net revenues derived from the operation of the County’s parking facilities. The estimated combined principal and interest required to pay the Certificates on time and in full is $206,092,573. Such estimate is provided for illustrative purposes only, and is based on an assumed interest rate of 2.60%.   Market conditions affecting interest rates vary based on a number of factors beyond the control of the County, and the County cannot and does not guarantee a particular interest rate associated with the Certificates. As of the date of this notice, the aggregate principal amount outstanding of tax-supported debt obligations of the County is $1,885,600,000, and based on the County’s expectations, as of the date of this notice the combined principal and interest required to pay all of the outstanding tax-supported debt obligations of the County on time and in full is $2,881,077,226.   The Certificates are to be issued, and this notice is given, under and pursuant to the provisions of the Certificate of Obligation Act of 1971, as amended, Local Government Code Section 271.041 through Section 271.064.

/s/ Lucy Adame-Clark                                                
County Clerk and Ex-Officio Clerk of the
Commissioners Court of Bexar County, Texas

 

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