FORNEY, Texas – The City of Forney is set to issue certificates of obligation in November 2014 for an amount not to exceed $5,075,000.
FORNEY, Texas – The City of Forney is set to issue certificates of obligation in November 2014 for an amount not to exceed $5,075,000.
The Forney City Council approved the publication of a notice of intent to issue the certificates of obligation in an amount not to exceed $5,075,000. The council is scheduled to discuss the authorization of the issuance of the certificates of obligation at their November 4, 2014, City Council Meeting.
The certificates of obligation will be used to fund the construction of a second fire station on the north side of Forney and a new animal shelter. Plans to renovate the historic Booker T. Washington school building were pulled from this issuance.
The city anticipates spending $3 million to construct Fire Station #2 on Reeder Lane, $2 million on a new animal shelter on Holly Leaf Trail, and $75,000 on professional fees associated with the issuance of the certificates of obligation.
A 4.330-acre tract of land for the new fire station was conveyed to the City of Forney from Meadow Ridge Farm, LP, earlier this month.
The delivery of the funds from the certificates of obligation is anticipated for December 9, 2014.
The November 4, 2014, City Council Meeting will be held at City Hall, 101 East Main Street, Forney, Texas, 75126. The meeting is scheduled for 7 p.m.
