R-10-08-12-9A1 - 8/12/2010RESOLUTION NO. R -10-08-12-9A1
WHEREAS, the City Staff and the City Council have studied and assessed the needs of the
City for certain capital projects, and
WHEREAS, the City Council desires to prioritize and fund these needed capital projects from
the Self -Financed Construction Fund, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the list of capital projects along with their estimated costs as shown in Exhibit "A",
attached hereto and incorporated herein, are approved for funding from the General Self -Financed
Construction Fund.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 12th day of August, 2010.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
Sa/RAA, Ottice
SARA L. WHITE, City Secretary
O:\wdox\SCClnts\0112\ 1005\MUNICIPAL\00199339.DOC/rmc
City of Round Rock
General Self -Financed Construction
2010 Capital Spending Plan
Funding Sources
Unallocated General Self -Financed Construction $ 5,197,809
Uses
Projects Recommended For Funding
General Obligation Bond Refunding 200,000
Total Projects Recommended for Funding 200,000
Total Unallocated Self -Financed Construction $ 4,997,809
EXHIBIT
„A"
ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY
City Council Agenda Summary Sheet
Agenda Item No. 9A1.
Consider a resolution approving the funding of certain capital projects from the General
Agenda Caption: Self -Financed Construction Fund
Meeting Date: August 12, 2010
Department: Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
This resolution approves for $200,000 to be allocated to the General Obligation Refunding Bonds to be issued in
August 2010. $1 million in the form of a cash contribution (defeasance cost) will be used to restructure the debt
which will benefit the City by reducing interest costs and reducing the overall debt service requirement. We
currently have $800,000 in fund balance in the Debt Service Fund, an additional $200,000 is needed.
Strategic Plan Relevance:
8.0 — Maintain and enhance public confidence, satisfaction and trust in City Government
Cost: N/A
Source of Funds: N/A
Date of Public Hearing (if required):
Recommended Action: Approval of resolution