R-2018-5857 - 9/13/2018 RESOLUTION NO. R-2018-5857
RESOLUTION AUTHORIZING THE PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CITY OF ROUND ROCK,TEXAS COMBINATION TAX AND LIMITED
REVENUE CERTIFICATES OF OBLIGATION AND OTHER MATTERS RELATED
THERETO
THE STATE OF TEXAS '
COUNTIES OF TRAVIS AND WILLIAMSON '
CITY OF ROUND ROCK '
WHEREAS, the City Council (the "Council")ofthe City of Round Rock, Texas(the"City")
has determined that it is in the best interest of the City to proceed with the issuance of certificates
of obligation ("Certificates") to implement certain projects; and
WHEREAS, the City Council of the City finds that the payment in whole or in part
of contractual obligations incurred or to be incurred for the purposes set forth in Exhibit "A"
attached hereto (the "Contractual Obligations") would be beneficial to the inhabitants of the
City and are needed to perform essential City functions; and
WHEREAS, on February 22, 2018,the Council adopted a resolution expressing the official
intention of the City to be reimbursed from the proceeds of the Certificates for expenditures incurred
by the City in connection with the Contractual Obligations prior to the issuance of the Certificates;
and
WHEREAS, the Council has deemed it advisable to give notice of intention to issue the
Certificates in a maximum principal amount not to exceed $7,000,000 pursuant to the provisions of
the Certificate of Obligation Act of 1971, Section 271.041 et seq., Local Governinent Code (the
"Act") for the purpose of financing the Contractual Obligations; and
WHEREAS, prior to the issuance of the Certificates, the City is required under the Act to
publish notice of its intention to issue the Certificates in a newspaper of general circulation in the
City, the notice stating: (i) the time and place tentatively set for the passage of the ordinance
authorizing the issuance of the Certificates, (ii)the maximum amount and purpose of the Certificates
to be authorized, and (iii) the manner in which the Certificates will be paid; and
WHEREAS, the meeting at which this Resolution is adopted was open to the public and
public notice of the time, place and purpose of the meeting was given, all as required by Chapter
551, Texas Government Code, as amended.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ROUND ROCK, TEXAS:
0112.1804;00408753
Round Rock\CO\2018: Notice Res
I. Attached hereto as Exhibit "A" is a form of the Notice of Intention to issue the
Certificates, the form and substance of which is hereby adopted and approved.
2. Bond Counsel to the City shall cause the notice to be published in substantially the
form attached hereto, in a newspaper of general circulation in the City, for two consecutive weeks,
the date of the first publication to be at least 31 days before the date tentatively set for passage of
the ordinance authorizing the Certificates as shown in the notice.
3. The City's Chief Financial Officer and the City's Deputy Chief Financial Officer
along with the City's financial advisor, Specialized Public Finance Inc., and bond counsel are
authorized to proceed with preparing the necessary bond and offering documents to effectuate
the sale ofthe Certificates and any other public securities of the City anticipated to be sold at or near
the time of the Certificates, including making application to appropriate rating agencies and bond
insurers, if applicable.
4. The City hereby authorizes the disbursement of a fee equal to the lesser of(i) one-
tenth of one percent of the principal amount of each series of the Certificates being issued or (ii)
$9,500 per series, provided that such fee shall not be less than $750, to the Attorney General of
Texas Public Finance Division for payment of the examination fee charged by the State of Texas
for the Attorney General's review and approval of public securities and credit agreements, as
required by Section 1202.004 of the Texas Government Code. The appropriate member of the City's
staff is hereby instructed to take the necessary measures to make this payment. The City is also
authorized to reimburse the appropriate City funds for such payment from proceeds of the
Certificates.
5. This Resolution shall become effective immediately upon adoption. The Mayor
and City Clerk are hereby authorized and directed to execute the certificate to which this Resolution
is attached on behalf ofthe City, and the Mayor, City Clerk and City Manager are further authorized
to do any and all things proper and necessary to carry out the intent of this Resolution.
Round Rock\CO\2018: Notice Res 2
RESOLVED this 13th day of September, 2018.
ATTEST: CITY F ROUND ROCK, TEXAS
4W,H, qbu�- A z
City Clerk Mayor
City of Round Rock, Texas City of Round R k, Texas
APPROVED AS TO FORM:
e'-�ALM I 0-'A4
�171 y Att Vn e
City of Round Rock, Texas
3
EXHIBIT A
NOTICE OF INTENTION REGARDING CITY OF ROUND ROCK, TEXAS
COMBINATION TAX AND LIMITED REVENUE CERTIFICATES OF
OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
Round Rock, Texas, to issue one or more series of interest bearing certificates of obligation of the
City entitled "City of Round Rock, Texas Combination Tax and Limited Revenue Certificates of
Obligation," (the "Certificates") for the purpose of paying contractual obligations incurred or to be
incurred by the City for: (1) constructing, improving and equipping a public works facility for the
City's utilities and transportation departments to be located on Luther Peterson Place and related
costs, including the acquisition of any necessary easements or land; and (2) professional services
including fiscal, engineering, architectural and legal fees and other such costs incurred in
connection therewith including the costs of issuing the Certificates. The City Council tentatively
proposes to consider for first and final reading at a meeting to commence at 6 o'clock, p.m., on the
8th day of November, 2018 at City Hall, 221 East Main Street, Round Rock, Texas, 78664, the
passage of an ordinance authorizing the Certificates. The maximum amount of the Certificates that
may be authorized for such purpose is $7,000,000. The City Council presently proposes to provide
for the payment of such Certificates from the levy and collection of ad valorem taxes in the City as
provided by law and from the surplus revenues of the City's waterworks, sewer and drainage system
in an amount not to exceed $1,000, remaining after payment of all operation and maintenance
expenses thereof, and all debt service, reserve and other requirements in connection with all of the
City's revenue bonds or other obligations (now or hereafter outstanding) which are payable from
all or any part of the net revenues of such system.
CITY OF ROUND ROCK, TEXAS
Round Rock\CO\2018: Notice Res A-1