Notice of Intent to Issue Certificates of Obligation

NOTICE OF INTENTION TO ISSUE

CITY OF CEDAR PARK, TEXAS

COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION,

SERIES 2025

NOTICE is hereby given that it is the intention of the City Council of the City of Cedar Park, Texas to issue Certificates of Obligation (the "Certificates") of the City in one or more series for the purpose of providing funds for paying contractual obligations incurred or to be incurred for: (i) constructing, improving, and/or resurfacing of roads and streets, (ii) public safety facility improvements and equipment to include remodeling the police station communications center, fire station improvements, and fire department radio replacements, (iii) park and recreational facility improvements to include Milburn Pool; (iv) drainage and flood control improvements to include Riviera East drainage improvements, Deer Run drainage improvements and Blockhouse Creek Park Channel improvements, and (v) payment of professional services in connection therewith including legal, engineering, architectural and fiscal fees and the costs of issuing the Certificates. The City Council tentatively proposes to authorize the issuance of the Certificates at its regular meeting place in the City Hall, 450 Cypress Creek Road, Cedar Park, Texas to be commenced at 6:00 p.m., on the 13th day of November, 2025. The City Council presently proposes to provide for the security and payment of the Certificates by a pledge of ad valorem taxes upon all taxable property within the City within the limits allowed by law and from a limited pledge of the City's surplus water and sewer system revenues not to exceed $1,000. The following information is required pursuant to Texas Local Government Code, Section 271.049(b)(4) to be provided by the City (excludes $0 in principal amount of outstanding debt obligations that the City has designated as self-supporting and which the City reasonably expects to pay from revenues sources other than ad valorem taxes; provided, however, that in the event that such self-supporting revenue sources are insufficient to pay debt service, the City is obligated to levy ad valorem taxes to pay such debt obligations): As of September 11 2025 principal of all outstanding debt obligations of the City is $251,610,000.00. As of September 11, 2025 combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $333,432,306.66. The maximum principal amount of the Certificates to be authorized is $32,000,000. The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $41,501,715.28. The estimated interest rate for the Certificates to be authorized is 4.75%. Such estimates take into account a number of factors, including the issuance schedule, maturity schedule and the expected ratings of the proposed Certificates. Such estimated interest rate is provided as a matter of information, but is not a limitation on the interest rate at which the Certificates, or any series thereof, may be sold. The maximum maturity date of the Certificates to be authorized is August 15, 2045. More information on the specific debt obligations that the City has designated as self-supporting is available upon request to the City at the address noted above.