AN ORDER OF THE COMMISSIONERS COURT OF TRAVIS COUNTY, TEXAS, AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION; APPROVING THE PREPARATION AND DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the Commissioners Court of Travis County, Texas (the “County”), deems it advisable to issue certificates of obligation (the “Certificates”) of the County in accordance with the notice hereinafter set forth; and
WHEREAS, the County desires to approve the preparation and distribution of a preliminary official statement (the “Preliminary Official Statement”) in anticipation of its issuance of the Certificates;
NOW, THEREFORE, BE IT ORDERED, ADJUDGED AND DECREED
BY THE COMMISSIONERS COURT OF TRAVIS COUNTY, TEXAS:
Section 1. Findings. The findings, definitions and recitations set out in the preamble to this Order (this “Order”) are found to be true and correct and are hereby adopted by the County Commissioners Court and made a part hereof for all purposes.
Section 2. Authorization to Publish Notice of Intent. The County Clerk is hereby authorized and directed to cause to be published in the manner required by law and in substantially the form attached hereto as Exhibit A, a notice of the County’s intention to issue the Certificates (the “Notice”).
Section 3. Publication of Notice.
- Newspaper Publication. The Notice shall be published once a week for two (2) consecutive weeks in a newspaper which is of general circulation in the County, the date of the first publication to be at least forty-six (46) days before the date tentatively set in the Notice for the passage of the order authorizing the issuance of the Certificates.
- Internet Website Publication. In addition, the Notice shall be posted continuously on the County’s website for at least forty-five (45) days before the date tentatively set in the Notice for the passage of the order authorizing the issuance of the Certificates.
Section 4. Declaration of Intent to Reimburse with Tax-Exempt Proceeds. For purposes of section 1.150-2(d) of the Treasury Regulations, this Order serves as the County’s official declaration of intent to use proceeds of the Certificates to reimburse itself from Certificates issued in the maximum principal amount and for expenditures paid in connection with the projects, each as set forth in Exhibit A hereof. Any such reimbursement will only be made (i) for an original expenditure paid no earlier than 60 days prior to the date hereof and (ii) not later than 18 months after the later of (A) the date the original expenditure is paid or (B) the date on which the project to which such expenditure relates is placed in service or abandoned, but in to event more than three years after the date the original expenditure is paid. IM-#10611328.4
Section 5. Preparation of Offering Documents. The County Judge and other appropriate officials of the County, the County’s financial advisor, PFM Financial Advisors LLC, and bond counsel, Bracewell LLP, are authorized and directed to proceed with the preparation of a Preliminary Official Statement and one or more Notices of Sale, if any, relating to the Certificates and other debt issuances of the County, if any, and to make other necessary arrangements for the sale of the Certificates at a future meeting of the County Commissioners Court.
Section 6. Delegation of Authority to Approve Offering Documents. The County hereby authorizes the preparation and distribution of a Preliminary Official Statement and Notices of Sale, if any, relating to the Certificates and other debt issuances of the County, if any, and authorizes the County Judge to approve the final form of and deem final such Preliminary Official Statement within the meaning and for the purposes of paragraph (b)(1) of Rule 15c2-12 of the United States Securities and Exchange Commission.
Section 7. Further Procedures. The County Judge, County Clerk, and other officers, employees and agents of the County are hereby authorized and directed to proceed with the preparation of all necessary documents and to make all necessary arrangements for the authorization and sale of the Certificates, and to do any and all things necessary or desirable to carry out the provisions and intent of this Order, including amending or changing the wording of the Notice.
Section 8. Effective Date. This Order shall take effect immediately from and after its passage by the County Commissioners Court.
Section 9. Open Meeting. It is hereby officially found and determined that the meeting at which this Order was adopted was open to the public, and that public notice of the time, place and purpose of said meeting was given, all as required by the Texas Open Meetings Act, Chapter 551, Texas Government Code.
PASSED AND APPROVED this March 3, 2026.
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the Commissioners Court of Travis County, Texas (the “County”), will meet at its regular meeting place in the Commissioners Court Room on the first floor, 700 Lavaca Street, Austin, Texas at 9:00 a.m. on Tuesday, April 28, 2026, which is the time and place tentatively set for the passage of an order and such other action as may be deemed necessary to authorize the issuance from time to time of one or more series of the County’s certificates of obligation (the “Certificates”), in the maximum aggregate principal amount not to exceed ONE HUNDRED THIRTY-EIGHT MILLION EIGHT HUNDRED SEVENTY-FIVE THOUSAND DOLLARS $138,875,000, payable from ad valorem taxes and from a limited pledge of certain surplus revenues of the County’s solid waste disposal system in an amount not to exceed $1,000, bearing interest at any rate or rates not to exceed the maximum interest rate authorized by law, as shall be determined within the discretion of the County Commissioners Court on or before the date of issuance of the Certificates, and maturing over a period not to exceed twenty (20) years from the date of issuance, for the purpose of evidencing the indebtedness of the County for all or any part of the costs associated with (i) constructing and improving County roads, including bridge construction and improvement, utility relocation, safety and signalization improvements, related road drainage, bike lane and sidewalk improvements, and acquiring land and right-of-way in connection therewith; (ii) constructing and improving County parks; (iii) improving, renovating and equipping existing County buildings; (iv) acquiring, constructing and improving judicial and public safety facilities; (v) acquiring County vehicles, equipment and heavy equipment for authorized purposes; and (vi) professional services of attorneys, engineers and other professionals in connection with the above-described purposes, and the costs of issuance of the Certificates, including but not limited to fees for professional services and incidental expenses related to such purposes. The estimated combined principal and interest required to pay the Certificates on time and in full is $181,704,732.18. Such estimate is provided for illustrative purposes only and is based on an assumed interest rate of 4.10%. Market conditions affecting interest rates vary based on a number of factors beyond the control of the County, and the County cannot and does not guarantee a particular interest rate associated with the Certificates. As of the date of this notice, the aggregate principal amount outstanding of tax-supported debt obligations of the County is $1,073,375,000 and based on the County’s expectations, as of the date of this notice the combined principal and interest required to pay all of the outstanding tax-supported debt obligations of the County on time and in full is $1,403,943,078.
COMMISSIONERS COURT
TRAVIS COUNTY, TEXAS
March 3, 2026
Notice Of Intention To Issue Certificates Of Obligation (PDF)
