R-11-05-12-12C3 - 5/12/2011ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY:
Agenda Item No.
Ci Council A.enda Summar Sheet
12C3.
Consider a resolution approving the action of the Round Rock Transportation System
Development Corporation regarding the Issuance of Senior Lien Sales Tax Revenue
Agenda Caption: Refunding Bonds.
Meeting Date: May 12, 2011
Department: Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
Bon
e
The City
will be refunding approximately $5.6 million in Series 2001 Seor Lien
ales Tax Revenue this debt dt a for the
Transportation System Development Corporation. The has
areaopro acted to be approximately $284,000. These
n favorable rate. The savings over the life of the debt (5 years
savings are reflected as a reduction of the debt service requirement.
Wethe
The
am wirtil utilize the negotiated sale method, where underwriters are chosen in adveanc a f eve actualsbon/dsasale. the
ur terms
amortization term and minimum savings ond tionsre ated in advance. where rates continue to fluctuate, the negotiated sale method
refunding. Due to the current market
ensures the City a favorable rate structure.
rove the resolution to approve the authorization of
wil
Issuance of Senior Lien Sales Tax Revenue Refunding
The Transportation System Development Corporation dsaThee City Council will then approve the resolution of the
Transportation System Development Corporation.
Strategic Plan Relevance:
8.0 — Maintain and enhance public confidence, satisfaction and trust in City Government
Cost:
Source of Funds: Transportation System Development Corporation
Date of Public Hearing (if required): N/A
Recommended Action:
Approval
N/A