R-14-01-23-G7 - 1/23/2014RESOLUTION NO. R -14-01-23-G7
WHEREAS, on November 14, 2013 the City Council approved the General Self -Financed
Construction 2014 Capital Spending Plan ("Plan"), and
WHEREAS, the City Council desires to revise said Plan, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Plan is hereby revised as shown in Exhibit "A", attached hereto and incorporated
herein.
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 23rd day of January, 2014.
ATTEST:
44/1A, iv,9704-
SARA L. WHITE, City Clerk
0112.1404;00290149
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ROUND ROCK. TEXAS
PURPOSE PASSION. PROSPERITY
City of Round Rock
General Self -Financed Construction
2014 Capital Spending Plan- Revision #1
EXHIBIT
„A»
FY 2013 Unallocated General Self- Financed Construction Total $ 1,097,118
Funding Sources
Total Funding Sources
Total Unallocated General Self -Financed Construction Available $ 1,097,118
Uses
Projects Recommended For Funding
Bond Projects Funding for 2014 Bond Projects
$ 500,000
Total Projects Recommended for Funding $ 500,000
Total Unallocated Self -Financed Construction $ 597,118
ROUND ROCK, TEXAS
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City of Round Rock
Agenda Item Summary
Agenda Number: G.7
Title: Consider a resolution approving Amendment No. 1 to the FY 2014
General Self -Financed Construction Plan.
Type: Resolution
Governing Body: City Council
Agenda Date: 1/23/2014
Dept Director: Cheryl Delaney, Finance Director
Cost:
Indexes:
Attachments: Resolution, ExhibitA
Department: Finance Department
Text of Legislative File 14-1090
The General Self -Financed Construction fund was created in 1999 and has funded over
$70M in projects. The City's financial strategy of cash funding for projects which the City
would normally issue debt has saved the taxpayers of Round Rock at least 12 cents on the
property tax rate by avoiding the issuance of debt. This strategy has reduced the need to
borrow funds while allowing the City to continue to keep up with the growing demand.
This revision will allocate approximately $500,000 in funding for projects related to the 2014
GO Bond issuance. In November of 2013, voters authorized $123.6M in bonds. Earlier
you approved a reimbursement resolution that authorized project related costs to be spent
before bonds are issued.
The General Self -Financed Construction amendment provides for reimbursement once the
bonds have been issued.
Approval
City of Round Rock Page 1 Printed on 1/22/2014