Public Notices

City of Van Alstyne, Texas > Public Notices

Notice of Public Hearing FY2023-2024 Budget

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City of Van Alstyne, Texas
Notice of Public Hearing
Fiscal Year 2023 – 2024 Budget

The City Council of the City of Van Alstyne, Texas, will conduct a Public Hearing on August 21, 2023 at 6:30 P.M., at the Van Alstyne City Hall, 152 N Main Dr., Van Alstyne, Texas, to discuss the proposed fiscal year 2023 – 2024 budget for the City of Van Alstyne, Texas.

This budget will raise more revenue from property taxes than last year’s budget by an amount of $1,253,969 which is a 38.65% increase from last year’s budget.  The property tax revenue to be raised from new property added to the tax roll this year is $563,042.

The proposed budget for the fiscal year beginning October 1, 2023 and ending September 30, 2024 includes a property tax rate of $0.553713 per $100 of taxable value.

City of Van Alstyne, Texas > Public Notices

Notice of Intention to Issue Certificates of Obligation

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NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
OF THE CITY OF VAN ALSTYNE, TEXAS

NOTICE IS HEREBY GIVEN that the City Council of the City of Van Alstyne, Texas, at its meeting to commence at 6:30 P.M. on October 10, 2023, at the City Hall, 152 N. Main Drive, Van Alstyne, Texas, tentatively proposes to adopt an ordinance authorizing the issuance of interest bearing certificates of obligation, in one or more series, in an amount not to exceed $15,400,000 for paying all or a portion of the City’s contractual obligations incurred in connection with (i) acquiring, constructing, and equipping a municipal complex, including a police station, fire station and other public safety facilities; (ii) constructing, reconstructing and improving streets, roads, sidewalks and alleys, including bridges and intersections, street overlay, landscaping, lighting, signalization, traffic safety and operational improvements, culverts and related storm drainage and utility relocation; (iii) the construction of improvements and extensions to the City’s water and wastewater system; (iv) acquiring, constructing and equipping public parks, including landscaping, irrigation, drainage, lighting, benches, pavilions, walking paths, public restrooms, soccer fields, parking facilities and related infrastructure; and (v) paying legal, fiscal, architectural and engineering fees in connection with these projects.  The estimated interest rate for the certificates is 4.58% per annum, the maximum maturity date for the certificates is February 15, 2053, and the estimated combined principal and interest required to pay the certificates to be authorized on time and in full is $29,515,357.  The current principal of all outstanding debt obligations of the City is $39,045,000.  The current combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $63,859,610.  The City proposes to provide for the payment of such certificates of obligation from the levy and collection of ad valorem taxes in the City as provided by law and from a pledge of certain surplus revenues of the City’s waterworks and sewer system, remaining after payment of all operation and maintenance expenses thereof, and all debt service, reserve, and other requirements in connection with all of the City’s revenue bonds or other obligations (now or hereafter outstanding), which are payable from all or any part of the net revenues of the City’s waterworks and sewer system.  The certificates of obligation are to be issued, and this notice is given, under and pursuant to the provisions of V.T.C.A., Local Government Code, Subchapter C of Chapter 271.

CITY OF VAN ALSTYNE, TEXAS