R-2020-0318 - 11/12/2020RESOLUTION NO. R=2020=0318
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 describe - - 1d 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 the amount set
forth 1"n Exhibit "A" 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 i*s paid.
0 112.20202; 00459165
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 5 51,
Texas Government Code, as amended.
RESOLVED this 12th day of November, 2020.
CRAIG/MORN, Mayor
City of RoundRock, Texas
ATTEST:
Cz�' V l�✓�V � /l�C
SARA L. WHITE, City Clerk
EXHIBIT A
PROJECT DESCRIPTION
Design and construction of a new City of Round Rock Public Library consisting of approximately a sixty thousand
(60,000) square foot facility and a parking garage to accommodate approximately three hundred (300) vehicles shall
be funded by proceeds from the sale of General Obligation bonds and future Certificates of Obligation. The
total cost of this project i*s $34.9 million.
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