NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION

The City Council of the City of Bandera, Texas (the "City") does hereby give notice of intention to issue one or more series of City of Bandera, Texas Combination Tax and Surplus  Revenue Certificates of Obligation (the "Certificates") in the maximum aggregate principal amount not to exceed $280,000 for the purpose of paying, in whole or in part, contractual obligations for planning, designing, constructing, acquiring, equipping, and improving, water system improvements (the "Project"), and for paying all or a portion of the legal, fiscal and engineering fees in connection with the Project and the costs of issuance related to the Certificates. The City proposes to provide for the payment of the Certificates from the levy and collection of ad valorem taxes in the City as provided by law and from a lien on and pledge of "Surplus Revenues," if any, received by the City from the ownership and operation of the City's municipal waterworks and sewer system. The current principal of all currently outstanding debt obligations of the City is $8,253,000, the combined principal and interest required to pay all currently outstanding debt obligations of the City on time and in full is $9,019,240, the estimated combined principal and interest required to pay the proposed Certificates on time and in full is $378,305, the maximum interest rate for the proposed Certificates may not exceed the maximum legal rate, and the maximum maturity date of the proposed Certificates is March 15, 2046. For more information, please contact the City Administrator. The City Council proposes to authorize the issuance of the Certificates at 5:00 p.m. on May 20, 2025, at a Special Meeting to be held at the City Hall, located at 511 Main St., Bandera, Texas 78003.