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Welcome to Crane County, Texas
Crane County Commissioners’ Court meets the 2nd and 4th Tuesday of each month @10:00 a.m.

 

NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION

NOTICE IS HEREBY GIVEN that the Commissioners Court of Crane County, Texas, will convene at 10:00 a.m. on the 26th day of January, 2021, at its regular meeting place thereof in the Commissioners Courtroom of the Crane County Courthouse, 201 W. 6th Street, Crane, Texas, and, during such meeting, the Commissioners Court will consider passage of an order and take such other actions as may be deemed necessary to authorize the issuance of the following: certificates of obligation (the “certificates”), in an aggregate principal amount not to exceed $8,300,000, for the purpose of paying contractual obligations to be incurred for (1) the construction and equipping of a Law Enforcement Center, to include the County Jail, Sheriff’s Department and Training facility; and (2) the payment of professional services and costs of issuance related thereto. The certificates will be payable from the levy of an annual ad valorem tax, within the limitations prescribed by law, upon all taxable property within the County. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of the Certificate of Obligation Act of 1971, as amended, Local Government Code Section 271.041, et seq.

As further required by Local Government Code Section 271.049(b)(4)-(6), the following additional information is provided:

(A) The current principal of all outstanding debt obligations of the County is $0.

(B) The current combined principal and interest required to pay all outstanding debt obligations of the County on time and in full is $0.

(C) The maximum principal amount of the certificates to be authorized is $8,300,000.

(D) The estimated combined principal and interest required to pay the certificates to be authorized on time and in full is approximately $11,437,607.

(E) The estimated interest rate for the certificates to be authorized is 2.610%.

(F) The maximum maturity date of the certificates to be authorized is February 15, 2046.

Pursuant to Texas Local Government Code Section 271.049, an election on the question of the issuance of the certificates will be called if before the time tentatively set for the authorization and issuance or if before the authorization of the certificates, the County Clerk receives a petition signed by at least five percent of the qualified voters of the County protesting the issuance of the certificates, the County may not issue the certificates unless the issuance is approved at an election ordered, held and conducted in the manner provided for bond elections.

Roy Hodges
  County Judge
             Crane County, Texas

 

 

 NOTICE FOR HIRING BOND COUNSEL The County of Crane will be considering the approval of a contract for legal services (the “Legal Services Contract”) at the regular meeting of the Commissioners Court of the County to be held on January 26, 2021 at 10:00 a.m. in the Commissioners Courtroom of the Crane County Courthouse, 201 W. 6th Street, Crane, Texas. The approval of the Legal Services Contract will be considered in connection with the County’s proposed issuance of Certificates of Obligations (the “Obligations”). The County intends to select the law firm of Bickerstaff Heath Delgado Acosta LLP (“BHDA”) to provide legal services in connection with the issuance of the Obligations (the “Issuance”) in the capacity of the County’s bond counsel. BHDA has demonstrated that it has the competence, qualifications, and experience required to serve as bond counsel in connection with the Issuance. BHDA has successfully represented Texas local governments as bond counsel in connection with the issuance of debt such as the Obligations for over 30 years. Attorneys that represent local governments in transactions such as the Issuance typically are recognized for their work in the specialized area of public finance. The successful completion of the Issuance requires the preparation of numerous transactional documents, the compilation of those documents into a transcript, and obtaining the approval of the Attorney General of the State of Texas for the sale of the Obligations, as well as other procedural steps. The County does not have any attorneys on staff that have the specialized experience required for a successful sale of the Obligations. Each sale of local governmental obligations presents a unique set of legal issues and bond counsel traditionally bills for services on a contingent fee basis. Because bond counsel services are based on a fixed contingency rate, the County can know with certainty the precise amount of the fees before the sale of the Obligations, can more readily ascertain its expenses in connection with the Issuance, and therefore, can more easily budget and plan for the use of the proceeds. For the preceding reasons, entering into a contingent fee contract for bond counsel services is in the best interests of the residents of the County.

 

 

 

 

 

 

 

 

Heroes Mile.pdf
  

H.E.A.R.T.
A Faith Based Group For Veterans and First Responders
Will be meeting every 1st Tuesday of each month at 10 am, at
the Northside Community Building 111 N. Katherine St.
Crane, Texas 79731 starting February 4th at 10am.
Point of Contact Gary Kennedy 432-230-9078.