Notice of Intention to Issue Certificates of Obligation
Issued Feb. 12, 2026.
NOTICE IS HEREBY GIVEN that the City Council of the City of Irving, Texas (the “City”), will meet at the City Council Chambers, 825 W. Irving Blvd., Irving, Texas, at 7:00 p.m., on the 16th day of April, 2026, which is the time and place tentatively set for the passage of an ordinance and such other action as may be deemed necessary to authorize the issuance of the City’s Combination Tax and Surplus Revenue Certificates of Obligation, Taxable Series 2026 (the “Certificates”), in the maximum aggregate principal amount not to exceed $51,250,000, payable from the levy of a direct and continuing ad valorem tax against all taxable property within the City sufficient to pay the interest on this series of Certificates as due and to provide for the payment of the principal thereof as the same matures, as authorized by Chapter 271, Subchapter C, Texas Local Government Code, as amended, and from all or a part of the surplus revenues of the City’s municipal drainage utility system, 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 City Council of the City at the time of issuance of the Certificates, being issued as tax-exempt or taxable obligations, and maturing over a period not to exceed forty (40) years from the date of issuance, for the purposes of evidencing the indebtedness of the City for all or any part of the costs associated with (i) planning, designing, developing, acquiring, constructing, equipping and installing flood and drainage improvements in the West Irving Creek watershed (the “Project”); (ii) professional services incurred in connection with the Project; and (iii) paying the costs incurred in connection with the issuance of the Certificates. The estimated combined principal and interest required to pay the Certificates on time and in full is $51,250,000. Such estimate is provided for illustrative purposes only, and is based on an assumed interest rate of approximately 0%. As of the date of this notice, the aggregate principal amount outstanding of tax-supported debt obligations of the City is $821,075,000. Based on the City’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 City on time and in full is $1,098,706,234.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 12th day of February, 2026.
/s/ Shanae Jennings
Shanae Jennings
City Secretary/Chief Compliance Officer
City of Irving, Texas
Irving City Hall
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