Notice of Intention to sell Combination Tax and Revenue Certificates of Obligation

CITY OF FAIRFIELD, TEXAS
NOTICE OF INTENTION TO ISSUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION

The City Council of the City of Fairfield, Texas (the "City") does hereby give notice of
intention to issue one or more series of City of Fairfield, Texas Combination Tax and Revenue
Certificates of Obligation in the maximum aggregate principal amount not to exceed $4,600,000 for
the purpose of paying, in whole or in part, contractual obligations to acquire, construct and equip
improvements to the City’s water and wastewater system for the benefit of the Texas Department
of Criminal Justice Boyd Unit (collectively, the "Projects"), and paying all or a portion of the legal,
fiscal, and engineering fees in connection with the Projects and costs of issuance related to such
Certificates of Obligation. The City proposes to provide for the payment of such Certificates of
Obligation 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 waterworks and wastewater system. The current principal of all currently
outstanding debt obligations of the City is $555,000, the combined principal and interest required
to pay all currently outstanding debt obligations of the City on time and in full is $571,030, the
estimated combined principal and interest required to pay the proposed Certificates on time and in
full is $6,403,045, the estimated interest rate for the proposed Certificates is 3%, and the maximum
maturity date of the proposed Certificates is August 15, 2042. The City Council proposes to
authorize the issuance of such Certificates of Obligation at 6:00 p.m. on Tuesday, July 13, 2021, at
a Regular Meeting at the Civic Center (Green Barn), 839 E. Commerce Street, Fairfield, Texas
75840.

/s/ Kenneth Hughes
Mayor, City of Fairfield, Texas