R-2019-0125 - 2/28/2019 RESOLUTION NO. R-2019-0125
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN
EXPENDITURES OF THE CITY OF ROUND ROCK, TEXAS
WHEREAS, the City Council of the City of Round Rock, Texas (the "Issuer") expects to pay
expenditures in connection with the project described in Exhibit A (the "Project")prior to the issuance of
obligations to finance the Project; and
WHEREAS,the Issuer finds, considers and declares that the reimbursement of the Issuer for the
payment of such expenditures will be appropriate and consistent with the lawful objectives of the Issuer
and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of the
Treasury Regulations, to reimburse itself for such payments at such time as it issues obligations to
finance the Project,Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
Section 1. The Issuer reasonably expects to incur debt, as one or more separate series of
various types of obligations, with an aggregate maximum principal amount not to exceed $57 million for
the purpose of paying the costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-
exempt obligations will be issued by the Issuer in furtherance of this Resolution after a date which is
later than 18 months after the later of(1) the date the expenditures are paid or (2) the date on which the
property, with respect to which such expenditures were made, is placed in service.
Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant
to this Resolution more than three years after the date any expenditure which is to be reimbursed is paid.
0112.1902;00418797
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 28th day of February, 2019.
CRAIG
oORG , Mayor
City of und V
k, Texas
ATTEST:
SARA L. WHITE, City Clerk
EXHIBIT A
PROJECT DESCRIPTION
Constructing, improving, extending, expanding, upgrading and/or developing City streets, intersections,
drainage, sidewalk and other traffic improvement projects and related costs and purchasing any necessary
right of way therefor, including, but not limited to, Deepwood Drive, Gattis School Road, Kenney Fort
Boulevard, Logan Street, McNeil Road, North Mays Street, Oakmont Drive, Old Settlers Boulevard, Red
Bud Lane, Ranch-to-Market Road 620, SH45 Frontage Road,University Boulevard and Wyoming Springs
Drive.
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