Ordinance - An Ordinance of the City of Mansfield, Texas, Authorizing the Issuance and Sale of City of Mansfield, Texas General Obligation Refunding and Improvement Bonds, Series 2025; Levying a Tax in Payment Thereof; Prescribing the Form of Said Bonds;

Staff Report & Agenda Item Details

A motion was made by Council Member Newsom to approve the following ordinance with the adjustments that Mr. Lestina referred to: AN ORDINANCE OF THE CITY OF MANSFIELD, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF MANSFIELD, TEXAS GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BONDS, SERIES 2025 IN THE AGGREGATE PRINCIPAL AMOUNT OF $12,960,000; LEVYING A TAX IN PAYMENT THEREOF; PRESCRIBING THE FORM OF SAID BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT, A PAYING AGENT/REGISTRAR AGREEMENT, AN ESCROW AGREEMENT AND A BOND COUNSEL ENGAGEMENT LETTER; APPROVING THE OFFICIAL STATEMENT; AND ENACTING OTHER PROVISIONS RELATING THERETO (Ordinance in its entirety located in the City Secretary's Office) Seconded by Council Member Bounds. The motion CARRIED by the following vote:

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 8.4/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).