R-11-01-13-10E2 - 1/13/2011RESOLUTION NO. R -11 -O1 -13-10E2
WHEREAS, on October 28th, 2010 City Council approved the list of capital projects for the
2011 Capital Spending Plan for the General Self -Financed Construction Fund, and
WHEREAS, the City Council desires to amend the list of capital projects to include the
purchase of property and architect's design fee for the Special Event Center Project and fund this
needed capital project from the General Self -Financed Construction Fund, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the amended 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 13th day of January, 2011.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Secretary
O:\wdox\SCCInts\0112\I 104\MUNICIPAL\00210662.DOC/rmc
City of Round Rock
General Self -Financed Construction
Revised 2011 Capital Spending Plan
FY 2011 Unallocated General Financed Construction Total
$ 8,021,754
Uses
Projects Recommended For Funding
Property Purchase and Architect & Design fees for Event Center $ 5,375,000
Total Projects Recommended for Funding
Total Unallocated Self -Financed Construction $ 2,646,754
$ 5,375,000
EXHIBIT
ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY
Ci Council A:enda Summar Sheet
Agenda Item No. 10E2.
Agenda Caption:
Meeting Date:
Consider a resolution amending the list of capital projects for the 2011 Capital Spending
Plan for the General Self -Financed Construction Fund to include the land and design of the
Special Events Center.
January 13, 2011
Department: Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
This resolution approves the purchase of the property and architect design fee for the Special Event Center from
the City's Self -financed Construction Fund - 2011 Capital Spending Plan. These funds will be reimbursed by the 2007
Bond issuance and the Hotel Occupancy Tax Fund at a later date.
As in previous years, this process continues the City's financial strategy of allocating cash funding for projects for
which the City would normally issue debt. This strategy has reduced the need to borrow funds while allowing the
City to continue to keep up with the growth demand. This strategy has been in place since 1999, during this time it
has saved the taxpayers of Round Rock at least 10 cents on the property tax rate by avoiding the issuance of debt.
Since 1999, the City has funded over $49.5 million in projects.
Funding projects in this manner continues with the City's financial policies of strategically funding priority projects
with available cash while minimizing the need to issue additional debt.
Strategic Plan Relevance:
8.0 — Maintain and enhance public confidence, satisfaction and trust in City Government
Cost: TBD
Source of Funds: General Self -Financed Construction
Date of Public Hearing (if required): N/A
Recommended Action: Approval