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Weatherford council authorizes publication of intent to issue up to $30 million in certificates of obligation
Summary
Council approved staff's request to publish notice of intent to issue certificates of obligation not to exceed $30 million to fund street improvements, Fire Station 5 design and park and equipment projects; staff outlined publication dates, estimated annual debt service and project allocations.
City staff requested and the council approved authorization to publish notice of intent to issue certificates of obligation (COs) Tuesday, a required first step under state law before the city may vote to issue debt.
"Staff is requesting the council to authorize publication of our intent to issue certificate of obligations in the amount not dollars," Dawn Brooks said in presenting the item; she later described the proposed principal amount as "not to exceed 30,000,000" and an estimated annual debt service of $2,400,000.0.
Brooks said the notice must be published in the newspaper of general circulation for…
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