Contract - Brushy Creek MUD - 9/13/2018 SECOND AMENDMENT TO THE
WASTEWATER SERVICE AGREEMENT
BETWEEN THE
CITY OF ROUND ROCK
AND
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
THIS SECOND AMENDMENT TO THE WASTEWATER SERVICE
AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND BRUSHY CREEK
MUNICIPAL UTILITY DISTRICT (the "Second Amendment") is dated and entered into as of
the t_ day of2018, by and among the City of Round Rock, Texas ("Round
Rock") a home-rule municipality and political subdivisions of the State (the "City") and Brushy
Creek Municipal Utility District, (the"District").
RECITALS
WHEREAS, Round Rock and the District have entered into that certain Wastewater
Service Agreement Between the City of Round Rock and Brushy Creek Municipal Utility
District, (the"Agreement") effective as of October 22, 2009; and
WHEREAS, Exhibit "A" to the Agreement sets forth the debt service payments to be
made by the District for the purposes of the District Capital Charge; and
WHEREAS, in June 2016, the City refunded approximately $35,000,000 in Utility
System Revenue Bonds to take advantage of favorable market conditions which will allow the
City and District to save significant money for interest payments; and
WHEREAS, in NjDye.N 9Q, 2017, the City refunded approximately $32,000,000 in
Utility System Revenue Bonds to take advantage of favorable market conditions which will
allow the City and District to save significant money for interest payments; and
WHEREAS, the parties hereto desire to amend Exhibit "A" to provide for reduced debt
service payments;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained, the sufficiency of which are hereby conclusively acknowledged, and subject to the
terms and conditions hereinafter set forth, Round Rock and the District mutually agree to
approve this Second Amendment, which shall read as follows:
ARTICLE 1
DEFINITIONS
Section 1.1 All terms used herein shall have the meanings assigned to them in the Agreement,
unless the context clearly requires otherwise.
00407239.DOC
ARTICLE II
AMENDED EXHIBIT A
Section 2.1 The document marked "Exhibit A", and entitled "City of Round Rock Texas,
Outstanding 2009, 2016 Refunding and 2017 Refunding as of 9/30/18, Brushy Creek MUD
Portion Only" attached to and incorporated herein replaces the previous "Exhibit A" attached to
the Agreement. Everywhere the Agreement refers to "Exhibit A," it is agreed that henceforth it
will be understood to refer to the attached"Exhibit A".
ARTICLE III
MISCELLANEOUS
Section 3.1 To the extent necessary to effect the terms and provisions of this Second
Amendment, the Agreement is hereby amended and modified. In all other respects, the aforesaid
Agreement is hereby ratified and confirmed.
Section 3.2 This Second Amendment may be executed in counterparts, each of which shall be
an original and all of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto acting under authority of their respective
governing bodies have caused this Second Amendment to be duly executed as of the day and
year first above written.
(SIGNATURES ON FOLLOWING PAGES)
2
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
By: •�
��...� ,President
Attest: 01,
By:
r
Secretary
3
CITY OF RO ND ROCK, TEXAS
By:
a/
Craig Mor an, Ma r
Attest:
By: *AL,.
Sara White, City Clerk
4
EXHIBIT
"A„
City of Round Rock, Texas
Outstanding 2009, 2016 Refunding and 2017 Refunding as of 9/30/18
Brushy Creek MUD Portion Only
Aggregate Debt Service Part 1 of 2
Date Principal Interest Total P+I Fiscal Total
09/30/2018 - _
02/01/2019 - 109,467.53 109,467.53
08/01/2019 185,000.00 109,467.53 294,467.53 -
09/30/2019 - - - 403,935.06
02/01/2020 - 105,700.00 105,700.00 -
08/01/2020 160,000.00 105,700.00 265,700.00 -
09/30/2020 - - - 371,400.00
02/01/2021 - 101,700.00 101,700.00 -
08/01/2021 170,000.00 101,700.00 271,700.00 -
09/30/2021 - - - 373,400.00
02/01/2022 - 97,450.00 97,450.00 -
08/01/2022 180,000.00 97,450.00 277,450.00 -
09/30/2022 - _
- 374,900.00
02/01/2023 - 92,950.00 92,950.00 -
j
08/01/2023 185,000.00 92,950.00 277,950.00 -
09/30/2023 - - - 370,900.00
02/01/2024 - 88,325.00 88,325.00 -
08/01/2024 195,000.00 88,325.00 283,325.00 -
09/30/2024 - - - 371,650.00
02/01/2025 - 83,450.00 83,450.00 -
08/01/2025 230,000.00 83,450.00 313,450.00 -
09/30/2025 - - - 396,900.00
02/01/2026 - 77,700.00 77,700.00 -
08/01/2026 245,000.00 77,700.00 322,700.00 -
09/30/2026 - - - 400,400.00
02/01/2027 - 71,575.00 71,575.00 -
08/01/2027 255,000.00 71,575.00 326,575.00 -
09/30/2027 - - - 398,150.00
02/01/2028 - 68,387.50 68,387.50 -
08/01/2028 260,000.00 68,387.50 328,387.50 -
09/30/2028 - - -
396,775.00
02/01/2029 - 65,137.50 65,137.50 -
08/01/2029 265,000.00 65,137.50 330,137.50 -
09/30/2029 - - - 395,275.00
02/01/2030 - 61,493.75 61,493.75 -
08/01/2030 275,000.00 61,493.75 336,493.75 -
09/30/2030 - - - 397,987.50
02/01/2031 - 57,712.50 57,712.50 -
08/01/2031 285,000.00 57,712.50 342,712.50 -
09/30/2031 _ - - - 400,425.00
i
Aggregate 1 6/20/2018 1 2:28 PM
Specialized Public
PagelAustin,Texas
City of Round Rock, Texas
Outstanding 2009, 2016 Refunding and 2017 Refunding as of 9/30/18
Brushy Creek MUD Portion Only
Aggregate Debt Service Part 2 of 2
Date Principal Interest Total P+I Fiscal Total
02/01/2032 - 53,437.50 53,437.50 08/01/2032 290,000.00 53,437.50 343,437.50 -
09/30/2032 - - - 396,875.00
02/01/2033 - 49,087.50 49,087.50 -
08/01/2033 300,000.00 49,087.50 349,087.50
09/30/2033 - - - 398,175.00
02/01/2034 - 43,087.50 43,087.50 -
08/01/2034 310,000.00 43 087.50 353,087.50
09/30/2034 - - - 396,175.00
02/01/2035 - 36,887.50 36,887.50
08/01/2035 325,000.00 36,887.50 361,887.50 -
09/30/2035 - - - 398,775.00
02/01/2036 - 30,387.50 30,387.50 -
08/01/2036 335,000.00 30,387.50 365,387.50 -
09/30/2036 - - - 395,775.00
02/01/2037 - 23,268.75 23,268.75 -
08/01/2037 350,000.00 23,268.75 373,268.75 -
09/30/2037 - - - 396,537.50
02/01/2038 - 15,831.25 15,831.25 -
08/01/2038 365,000.00 15,831.25 380,831.25
-
09/30/2038 - -
02/01/2039 _ - 396,662.50
8,075.00 8,075.00 -
08/01/2039 380,000.00 8,075.00388,075.00 -
09/30/2039 - - - 396,150.00
Total $5,545,000.00 $2,682,222.56 $8,227,222.56 -
Par Amounts Of Selected Issues
2017 Utility Rev Ref allocation as of 9/30/18-Brushy Creek MUD 2,320,000.00
2016 Utility Rev Ref allocation as of 9/30/18-Brushy Creek MUD 3,040,000.00
2009 Utility Rev allocation as of 9/30/18-Brushy Creek MUD 185,000.00
TOTAL 5,545,000.00
i
Aggregate 1 6/20/2018 2:28 PM
Specialized Public
Austin,Texas .•-
City of Round Rock, Texas
$78,785,000 Utility System Revenue Bonds, Series 2009
Brushy Creek MUD Portion
Debt Service Schedule
Date Principal Coupon Interest Total P+I Fiscal Total
08/01/2018
02/01/2019 - - 3,767.53 3,767.53 -
08/01/2019 185,000.00 4.073% 3,767.53 188,767.53 -
09/30/2019 - - - - 192,535.06
Total $185,000.00 - $7,535.06 $192,535.06 -
Yield Statistics
Bond Year Dollars $185.00
Average Life _ 1.000 Years
Average Coupon _ 4.0730054%
Net Interest Cost(NICD_ 4.0730054%
True Interest Cost(TIC) _ _ _ 4.0730054%
_..........._......._-.._..._-_._...._.._..._............_
Bond Yield for Arbitrage Purposes � �~ �_ — 5.0000000%
All Inclusive Cost(AIC)— _�� ^ 4.0730054%
IRS Form 8038
Net Interest Cost 4.0730054%
Weighted Average Maturity 1 0 1.00 Years
2009 Utility Rev allocati I Brushy Creek MUD 1 6/20/2018 1 2:30 PM
SpecializedPublic
Austin,Texas •.g-
City of Round Rock,Texas
$35,185,000 Utility System Revenue Refunding Bonds, Series 2016
Brushy Creek MUD Portion
Debt Service Schedule Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
08/01/2018 - -
02/01/2019 - - 53,062.50 53,062.50
08/01/2019 - - 53,062.50 53,062.50 -
09/30/2019 - - - - 106,125.00
02/01/2020 - - 53,062.50 53,062.50 -
08/01/2020 - - 53,062.50 53,062.50 -
09/30/2020 - - - - 106,125.00
02/01/2021 - - 53,062.50 53,062.50 -
08/01/2021 - - 53,062.50 53,062.50 -
09/30/2021 - - - - 106,125.00
02/01/2022 - - 53,062.50 53,062.50 -
08/01/2022 - - 53,062.50 53,062.50 -
09/30/2022 - - - - 106,125.00
02/01/2023 - - 53,062.50 53,062.50 -
08/01/2023 - - 53,062.50 53,062.50 -
09/30/2023 - - - - 106,125.00
02/01/2024 - - 53,062.50 53,062.50 -
08/01/2024 - - 53,062.50 53,062.50 -
09/30/2024 - - - - 106,125.00
02/01/2025 - - 53,062.50 53,062.50 -
08/01/2025 230,000.00 5.000% 53,062.50 283,062.50 -
09/30/2025 - - - - 336,125.00
02/01/2026 - - 47,312.50 47,312.50 -
08/01/2026 245,000.00 5.000% 47,312.50 292,312.50 -
09/30/2026 - _ - - - 339,625.00
02/01/2027 - - 41,187.50 41,187.50 -
08/01/2027 255,000.00 2.500% 41,187.50 296,187.50 -
09/30/2027 - - - - 337,375.00
02/01/2028 - - 38,000,00 38,000.00 -
08/0l/2028 260 000.00 2.500% 38,000.00 298 000.00 -
_.__....__..._....-...._......_.._ >_......---._._._...__........._...........__....._.....__._ ____.� _._.._ _..___.
09/30/2028 - - - - 336,000.00
02/01/2029 - - 34,750.00 34,750.00 -
08/01/2029 265,000.00 2.750% 34,750.00 299,750.00 -
09/30/2029 - - - - 334,500.00
02/01/2030 - - 31,106.25 31,106.25 -
08/01/2030 275,000.00 2.750% 31,106.25 306,106.25 -
09/30/2030 - - - - 337,212.50
02/01/2031 - - 27,325.00 27,325.00 -
08/01/2031 285,000.00 3.000% 27,325.00 312,325.00 -
09/30/2031 - - - - 339,650.00
2016 Utility Rev Ref allo I Brushy Creek MUD 1 6/20/2018 1 2:31 PM
Specialized Public
City of Round Rock,Texas
$35,185,000 Utility System Revenue Refunding Bonds, Series 2016
Brushy Creek MUD Portion
Debt Service Schedule Part 2 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
02/01/2032 - - 23,050.00 23,050.00 -
08/01/2032 290,000.00 3.000% 23,050.00 313,050.00 -
09/30/2032 - - - - 336,100.00
02/01/2033 - - 18,700.00 18,700.00 -
08/01/2033 300,000.00 4.000% 18,700.00 318,700.00 -
09/30/2033 - - - - 337,400.00
02/01/2034 - - 12,700.00 12,700.00 -
08/01/2034 310,000.00 4.000% 12,700.00 322,700.00 -
09/30/2034 - - - - 335,400.00
02/01/2035 - - 6,500.00 6,500.00 -
08/01/2035 325,000.00 4.000% 6,500.00 331,500.00 -
09/30/2035 - - - - 338,000.00
Total $3,040,000.00 - $1,304,137.50 $4,344,137.50 -
Yield Statistics
e�trDollars .__.._._._.__.._.._._........_....__._ $37430.00
Average
12.313 Years
Average Coupon 3.4842038%
Net Interest Cost(NIC) 3.4842038%
True Interest Cost(TIC) 3.4783305%
Bond Yield for Arbitrage Purposes` 34648660%
All Inclusive Cost(AIC) ..3.47 8__.._8..33
3305._../o_-
IRS Form 8038
Net Interest Cost 3.4842038%
Weighted Average Maturity 12.313 Years
2016 Utility Rev Ref allo I Brushy Creek MUD 1 6/20/2018 1 2:31 PM
SpecializedPublic
Austin,Texas
.g-
City of Round Rock,Texas
$32,785,000 Utility System Revenue Refunding Bonds, Series 2017
Brushy Creek MUD Portion
Debt Service Schedule Part 1 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
08/01/2018 - - - -
02/01/2019 - - 52,637.50 52,637.50
08/01/2019 - - 52,637.50 52,637.50 -
09/30/2019 - - - - 105,275.00
02/01/2020 - - 52,637.50 52,637.50 -
08/01/2020 160,000.00 5.000% 52,637.50 212,637.50 -
09/30/2020 - - - - 265,275.00
02/01/2021 - - 48,637.50 48,63 7.50 -
08/01/2021 170,000.00 5.000% 48,637.50 218,637.50 -
09/30/2021 - - - - 267,275.00
02/01/2022 - - 44,387.50 44,387.50 -
08/01/2022 180,000.00 5.000% 44,387.50 224,387.50 -
09/30/2022 - - - - 268,775.00
02/01/2023 - - 39,887.50 39,887.50 -
08/01/2023 185,000.00 5.000% 39,887.50 224,887.50 -
...____..._.___-. _ __ _ ..______.-.-.---..--..__—..__...._.__.--.__....
09/30/2023 - - - - 264,775.00
02/01/2024 - - 35,262.50 35,262.50 -
08/01/2024 195,000.00 5.000% 35,262.50 230,262.50 -
09/30/2024 - - - - 265,525.00
02/01/2025 - - 30,387.50 30,387.50 -
08/01/2025 - - 30,387.50 30,387.50 -
09/30/2025 - - - - 60,775.00
02/01/2026 - - 30,387.50 30,387.50 -
08/01/2026 - - 30,387.50 30,387.50 -
09/30/2026 - - - - 60,775.00
02/01/2027 - - 30,387.50 30,387.50
08/01/2027 - - 30,387.50 30,387.50 -
09/30/2027 - - - - 60,775.00
02/01/2028 - - 30,387.50 30,387.50 -
08/01/2028 - - 30,387.50 30,387.50 -
_._. ..............._.._......
09/30/2028 - - - - 60,775.00
02/01/2029 - - 30,387.50 30,387.50 -
08/01/2029 - - 30,387.50 30,387.50 -
09/30/2029 - - - - 60,775.00
02/01/2030 - - 30,387.50 30,387.50 -
08/01/2030 - - 30,387.50 30,387.50 -
09/30/2030 - - - - 60,775.00
02/01/2031 - - 30,387.50 30,387.50 -
08/01/2031 - - 30,387.50 30,387.50 -
09/30/2031 - - - - 60,775.00
2017 Utility Rev Ref allo I Brushy Creek MUD 1 6/20/2018 1 2:31 PM
SpecializedPublic
Austin,Texas .r-6
' w
City of Round Rock,Texas
$32,785,000 Utility System Revenue Refunding Bonds, Series 2017
Brushy Creek MUD Portion
Debt Service Schedule Part 2 of 2
Date Principal Coupon Interest Total P+I Fiscal Total
02/01/2032 - - 30,387.50 30,387.50
08/01/2032 - - 30,387.50 30,387.50 -
09/30/2032 - - - - 60,775.00
02/01/2033 - - 30,387.50 30,387.50 -
08/01/2033 - - 30,387.50 30,387.50 -
09/30/2033 - - - - 60,775.00
02/01/2034 - - 30,387.50 30,387.50 -
08/01/2034 - - 30,387.50 30,387.50 -
09/30/2034 - - - - 60,775.00
02/01/2035 - - 30,387.50 30,387.50 -
08/01/2035 - - 30,387.50 30,387.50 -
09/30/2035 - - - - 60,775.00
02/01/2036 - - 30,387.50 30,387.50 -
08/01/2036 335,000.00 4.250% 30,387.50 365,387.50 -
09/30/2036 - - - - 395,775.00
02/01/2037 - - 23,268.75 23,268.75 -
08/01/2037 350,000.00 4.250% 23,268.75 373,268.75 -
09/30/2037 - - - - 396,537.50
02/01/2038 - - 15,831.25 15,83 1.25 -
08/01/2038 365,000.00 4.250% 15,831.25 380,831.25 -
09/30/2038 - - - - 396,662.50
02/01/2039 - - 8,075.00 8,075.00 -
08/01/2039 380,000,00 4.250% 8,075.00 388,075.00 -
09/30/2039 - - - - 396,150.00
Total $2,320,000.00 - $1,370,550.00 $3,690,550.00 -
Yield Statistics
Bond Year Dollars $31,605.00
Average Life 13.623 Years
Average Coupon 4.3364974%
Net Interest Cost(NIC) 4.3364974%
Trate Interest Cost(TIC) 4.3619019%
Bond Yield for Arbitrage Purposes 4.4213301%
All Inclusive Cost(AIC) 4.3619019%
IRS Form 8038
Net Interest Cost 4.3364974%
Weighted Average Maturity 13.623 Years
2017 Utility Rev Ref allo I Brushy Creek MUD 1 6/20/2018 1 2:31 PM
SpecializedPublic