NOTICE OF INTENTION TO ISSUE

CERTIFICATES OF OBLIGATION

               NOTICE IS HEREBY GIVEN that the City Council of the City of Lockhart, Texas (the "City"), at its meeting to commence at 6:30 P.M. on July 15, 2025 (the "meeting"), at its regular meeting place in the Clark Library Annex-Council Chambers, 217 South Main Street, 3rd Floor, Lockhart, Texas, tentatively proposes to authorize the issuance of one or more series of interest bearing certificates of obligation for certain projects for improving, constructing, equipping, acquiring, or designing the City’s: (1) parks and recreation facilities, to include an aquatics center, recreation center and improving Lions Park; (2) public safety facilities, including the acquisition of land for police and fire facilities; (3) existing administration building; and (4) the payment of professional services in connection therewith including fiscal and engineering fees and the costs of issuing the certificates of obligation related thereto in an amount not to exceed $20,000,000. The City presently proposes to provide for the payment of the certificates of obligation by the levy of ad valorem taxes, within the limits prescribed by law. The certificates of obligation will be additionally payable from a limited pledge of surplus revenues of the City's water and wastewater system not to exceed $1,000.

The following information is required pursuant to Texas Local Government Code, Section 271.049(b)(4): As of May 20, 2025, principal of all outstanding debt obligations, including debt obligations in the process of issuance, of the City is $17,845,000. As of May 20, 2025, combined principal and interest required to pay all outstanding debt obligations, including debt obligations in the process of issuance, of the City on time and in full is $20,608,555.25. The maximum principal amount of the Certificates to be authorized is $20,000,000. The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $39,636,083.33. The maximum interest rate for the Certificates may not exceed the maximum legal interest rate. The maximum maturity date of the Certificates to be authorized is August 1, 2055.