R-2022-028 - 1/27/2022 RESOLUTION NO. R-2022-028
WHEREAS, the City of Round Rock ("City") has previously entered into a Wastewater
Service Agreement ("Agreement") with Brushy Creek Municipal Utility District ("District"); and
WHEREAS, the City Council now wishes to enter into a Third Amendment to the Agreement
to amend Exhibit "A" to set forth the debt service payments to be made by the District to the City for
the purposes of the District Capital Charge, Now Therefore
BE IT RESOLVED ICY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City, Third
Amendment to the Wastewater Service Agreement Between the City of Round Rock and Brushy Creek
Municipal Utility District, a copy being attached hereto as Exhibit "A" and incorporated herein for all
purposes.
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 tirnes 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 27th day of-'January, 2022.
CRAIG M( RGA ayor
a
Zo
City of Round 4RIo Texas
ATTEST:
W,LJO/1--1 Ink'LldttLon
ME,VG"A' N J'YNKS, City Clerk
011"20122,487 ,404)-8297
EXHIBIT
"W'
THIRD AMENDMENT TO THE
WASTEWATER SERVICE AGREEMENT
BETWEEN THE
CITY OF ROUND ROCK
AND
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
THIS THIRD AMENDMENT TO THE WASTEWATER SERVICE AGREEMENT
BETWEEN THE CITY OF ROUND ROCK AND BRUSHY CREEK MUNICIPAL UTILITY
DISTRICT (the "First Amendment") is dated and entered into as of the—day of ,
, by and between the City of Round Rock, Texas ("Round Rock") a home-rule
municipality(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")executed the 30'h day of October,2009; and
WHEREAS,Exhibit"A"to the Agreement sets forth the debt service payments to be made
by the District to Round Rock for the purposes of the District Capital Charge;and
WHEREAS, the District and Round Rock previously entered into that certain First
Amendment to Wastewater Service Agreement Between the City of Round Rock and Brushy
Creek Municipal Utility District dated as of July 28, 2016 in order to amend the District Capital
Charge set forth in Exhibit"A"to the Agreement in connection with Round Rock's refunding of
approximately$35,000,000 in Utility System Revenue Bonds;and
WHEREAS, the District and Round Rock previously entered into that certain Second
Amendment to Wastewater Service Agreement Between the City of Round Rock and Brushy
Creek Municipal Utility District dated as of September 13, 2018 in order to amend the District
Capital Charge set forth in Exhibit "A" to the Agreement in connection with Round Rock's
refunding of approximately$32,000,000 in Utility System Revenue Bonds;and
WHEREAS, the Agreement provides for the District to fund its share of Required
Improvements; and
WHEREAS, the permit issued by the Texas Commission on Environmental Quality
("TCEQ") requires the System to be improved in order to treat wastewater to a higher standard;
and
WHEREAS,Required Improvements to the System are currently under construction which
will meet the requirements of TCEQ; and
0142.2022;4891-2030-1066
WHEREAS,pursuant to §6.09(a)(iv)of the Agreement,the District has elected to not pay
cash for its share of the cost of the Required Improvements;and
WHEREAS,Round Rock has agreed to pay the District's share of the cost of the Required
Improvements on condition that Round Rock recover its cost,plus interest from the District, in the
form of a Required Improvements Charge;
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 Third 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.
"TCEQ Required Improvements" means the improvements required by the TCEQ to enable the
System to treat the wastewater to a higher standard as required by the permit issued by TCEQ.The
TCEQ Required Improvements meet the definition of a "Required Improvement" in the
Agreement.
ARTICLE H
DISTRICT'S CONSENT
Section 2.1 Pursuant to §6.09(a)(iv)of the Agreement,the District hereby acknowledges that it
has previously consented to the construction of the TCEQ Required Improvements.
ARTICLE III
REQUIRED IMPROVEMENTS CHARGE
Section 3.1 Pursuant to §6.09(a)(iv)of the Agreement,the District elects to not pay cash for its
share of the construction cost of the TCEQ Required Improvements. Round Rock has elected to
not issue additional debt for the District's share of the costs, but has elected to pay cash.
Accordingly,the District and Round Rock have agreed to amend Exhibit A of the Agreement, as
previously amended, to add the District's share of costs of the TCEQ Required Improvements as
a Required Improvements Charge to its schedule of debt owed to Round Rock. Round Rock
represents that the District's share of such costs has been calculated based on the District's
Reserved Capacity, relative to the total capacity, of the System Components being improved in
accordance with the requirements of Section 6.09(a)(iv)of the Agreement.
2
ARTICLE IV
AMENDED EXHIBIT A
Section 4.1 The document marked "Exhibit A", entitled "City of Round Rock Texas, 2016
Refunding, 2017 Refunding, and 2021 Required Improvements Charge for 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 V
MISCELLANEOUS
Section 5.1 To the extent necessary to effect the terms and provisions of this Third Amendment,
the Agreement is hereby amended and modified. In all other respects,the aforesaid Agreement,as
previously amended, is hereby ratified and confirmed.
Section 5.2 This Third 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.
3
IN WITNESS WHEREOF, the parties hereto acting under authority of their respective
governing bodies have caused this Third Amendment to be duly executed as of the day and year
first above written.
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
By:
President
Attest:
By:
Secretary
CITY OF ROUND ROCK,TEXAS
By:
Craig Morgan, Mayor
Attest:
By:
Meagan Spinks,City Clerk
4
Exhibit A
(On the following pages)
"City of Round Rock Texas,2016 Refunding,2017 Refunding,and 2021 Required
Improvements Charge for Brushy Creek MUD Portion Only"
5
City of Round Rock,Texas M7
$35,185,000 Utility System Revenue Refunding Bonds, Series 2016
Brushy Creels MUD Portion
Debt Service Schedule Part 10r2
Date Principal Werest "Total Rfl Fiscal"frit i
09/30/2021
02/0112022 53,062.50 53,0062.50
03101 Q022 53,t)6i2.59;1 53,062,,.50 -
WOW 2022 106,125.00
02/01/2023 53,062.50 53 1862 JO
08/0112023 53,062,50 33„9362.50
0913012023 - 106,125,00
02/0112024 _ 53,062.50 53,062.50
0'11(08112024 53,0162,50 53,062.50
09130 20u2 - 10("I 25.01,)
02/01/21125 - 5.3,062.50 53„11Cz2,50
08101/2025 230,00(°1.00 53„0f,;2+0 283,062.50 -
0131124125 336,!2',5.00
02/01/2026 47,312.50 43,.312.50 -
05/010076 245,000 00 47312.50 292,312 50
09)'311124120 3:39,62.5.111
912/1'1112027 - 41,187,50 41,187.50 -
0810112027 255,000,00 41,187.50 7.26,187.50
0913012027 - 337,375,00
11:O2028 311,11110.1'71P 38,000.00
08/01/2028 260,000JO ;111„000.030 298,000,M)
091300,028 - 336,001k,1''191
02/M/2029 - 34,750,00 371,750.091
0811 t.2029 2.65,000.00 34„750.00 299,750.0141
019/30/20292 - 334,500.110
02101/200 31,106.25 31 9 011.25
11RI /20BW30 275,000.00 31.,106,25 306,10625 -
09/30'2030 _ 337,21:.+.50
OY0112031 27,325.00 27,325.1)0 -
R11410112031 2115,00(1.9161 112,325 00,
09130Y211.31 339,650.001
02!111/20312 23,050.00 23,050.00 -
011'/01/'2032 2110,000.017 23,050.00 31.3,0,x0.00
09130/2032 - - ;33(91,100.01'1
02A)112033 - 18,700M 18,7190,00
0&0 P2033 300,000.00 13,700.00 313,7800M
09/3012033 - 337„4011.0601
02/01/2034 12,700.00 12,7093.00
08/0 1/'2034 310,91041.0107 12,700.00 322,700,00 -
09/30(2034 - 335,40CB,RY91
✓agrgruvag:xalnd 94�d 4A!��d?1 W !a�1'7 Nw6R
^fir gg
111 A
MI 11"WIN Ili IggIl
C of Round Rock,Texas
w . .............. _ . -- —
35,185,000 Utility System Revenue Refunding Bonds, Series 2016
Debt Set-vice Schedule Part 2 of 2
Date Principal Interest ToW P+1 Fiscal"Betel
132/0l!2035 6,5t1CP 0 6,5(1C 100
08101/2035 325,0010M tk,50O.00 331,500.00 -
09/3012035 035 338,1110¢1.00
E
'IOW S3,040,000,40 $985,762.50 S4,025,762.50 -
Field Statistics
Mist akntw:!'cm,Mg,Life Lor A l V1.Coupon C"aluu lalions 910112018
Average£.a Ne 12.229'u cum's
Average C"cru111on 3.4841578%
Par Amounts Of SeIlected Issues
2016 11 Rev'Rii(6!6)mud lulalls-BrushyCrcckw MUD 3,040,000.100
,ro ,r.A _ i tk411,115}0.1 1b1b
1# prszt�mtta IOil NP2021 1 511 FM
$32,785,000 Utility Syster3 Reveaue Refunding Bonds, Series 2017
Brushy Creek MUD Portion
Debt Service ed Paps I or 2
Date Principal Interest Total P+I Fiscalll'otal
09/30/202.1 -
02 101720,2.2 4n4, 87.50 44,387 51)
08/01/2022 1114:7,01111.1449 44,387,50 224,387.10 -
0T)13012022 - - 2693,775.00
02/01/2,023 - 349,8137.50 39,887 50 -
08101/2023 1515,000.00 311,887.,50 2.24,887.5'0
09/3012.023 - - - 264,775.00
02/01/2024 35,262,50 155,262 50
0510112024 195,000.0035,26150 2397,2012.50 -
01p313012024 - - 265,525,00
02aO U2025 - 30,387,50 30,38750
011101x'2025 30,38T5,0 30,3117,50 -
09/3012025 60,775.00
02/0112026 30,3167.50 30,1 7,50 -
08x'0 9'2021; 30,3517.517 30,38750
1}W30d2026 60,775X0
8.92101120.17 30,311.7.50 30,.3 997.511
08/0112027 30,311.7.50 30,387 507
017/3082027 110,775.00
8721011.10251 30,38T50 3 47,3 8 7.509
078/01,91,30 60028 30,387,50 30„3197.50 p
0120211 60,175.1117
092801120321 30,.137.50 30,387„508
0810100,29 30,3117.517 30,387,50
09130,'2029 60,775X8
09290112030 30,38T50 311,38 8,50
08/0 1 1211317 „101..383 7.53'1 :30„,3 x97.50
09/30/203() - - 60,775.00
0,10112031 30,387.547 30,387 50
1'78101 x.20931, 318,3117.541 30,3 87.50
09/30/2031 _ (10,775.7}0
0210100932 317,387.50 30,.35'7.;50
093101!,20 32y - 349,3137-50 30,3137.50
09130/20332 60„775.010
02J0112033 30,3+37.50 30,387.50
0£0101120;133 30,3837,50 30,.387,50
011/34172033 - - 4101,,775.00
027011/034 341,31~7.,50 30,38 7..50
0810112031 30,387 50 3 0,187.„'"x17
00/30/2034 - 60,775.00
A99r.guie 1 10/1412021 t 529 PM
$32,785,000 Utility System Revenue Refunding Bonds, Series 2017
Brushy Creek MUD Partion
Debt Service Schedule Pa,rt 2 of 2
...................... ......
Data Principal interest Total P+1 Fiscall Total
02/011203,5 30,387JO 30,387.50
n11/111+ 0.15 30,387.50 30,387.50
09130/2035 60,775.00
02JO1/2030 30,387,50 30,387.50 -
09/01/036
09/01/2036 3 3 5,000.00 A387.50 305,38T50
09/30/2036 - - 395,77MO
02101/2037 23,268,75 23,261+.75
(18/01/2037 350,u)0m) 23,268,75 373,268 75 -
(111/.3012037 - 390,537.50
02/0112038 15,831.25 15,83 L25 -
OS)OI 0018 365,000,00 15,831.25 380,83 V25
09/3W2038 - - 396,662.501
02/01/2039 8,075.00 8,075.00
08/0]/2039 380,1111o.00 8,05,00 388,075.00
09)30/2039 396,150B0
Tond $1,990j)1J9.1141 81,002,725M $3,448'2,725A0
'Yield Statistics
Base dalc for AvS,I AJ'c&Avp
,Coupon C"alculalians 910112018
A,,erarge 1,H'c 14,400 Yem
Avciagc Coupon 4.3287052%o
Par Amounts Of Selected Issues
2017 Utility Rvv Rcfalloca6on as 49130120-Bmshy C'rcxk MUD 1,990,0(JO.00
TOTAL 1,990,000.00
............ -------- ........
FAM
Br rushy Creek Ml!jlicipal cc�t 7
Utility District
1'M� 35;,l�00 Fast Plant Pro.it _..._.
a w �� Nigaatiola, Sc1•ics 202
i''u-c l i m i t lar-y
Debt Service Schedule
Date Principal Coupon Interest Total °rt Rscat TaaW
002I0 22,02
09/0 40021 'a„758 75 5.759 75
006/ MJ/20021 5,75r.7,.A
0:'///2022 DO,0000,0' 08,!50% i,75875 135,758,7-3
403C[Y1/2022 - 5,1000,75 5,200625
u09/3MY/"022 _ _ 140,965 00
i
02/01 10 4073 30,GYC3(J00 o” 8so% 5,206,2 5 0 3572W25
25
08/01/202,3 2,3 X4',653,75 0,65 0.75 -
09713MYA2023 - - 139,N60 00
021M2024 05,0000f,Y,C000 0.850`51', 4,63,75; 139,(153.75 -
08/0D2024 4,0800.010 4100800.0801
0913W2011 - 143,733.75
402A)IJ2025 135JAJ0,001 (0.Y5CY'''4, 4,0800.0008 139,0!#0(10
0.001101)'20025 3,5(ICi 25 3.50001.25
l{0/;i00l200;?ti _ _ 142,580 25
012/('M2Q'2Ci y 35,0010,00 00.80500'X. 3,.506.25 138,506.25
0.0',57t11/20V20 - 2,8132.5500 2932.50
09130/20M H1,438.75
02101/2027 ';35,0001(0 0000 00.8500% 2,932.50 0.37°73'2.5(0
00r;M/202'7 - 2,358 7S 2,359.75
091303/20027 - H0,291 25
0127011202.8 035,00000000 00.51500"!, 2,3:5875 137,358.75
08/001120028 - 1,7065.000 1,185,0000
09130/2028 139,W3.75
002/Ctlll2ON 0800,0003,00 0,8%)% 1,'7;05,010,0 14l„785M
084)I/2029 1„1900,0101 8,19 0.000
079d3101.2019 - - - W2,975,000
I:1:NO1/2030) 140,CM(P4 000 0.85C'YL 1,10000 S41,190.00
0131011/20300 595 100 595'.09Q0
090)12030 101385.0013
020011/203 1 1401,000 0,0 0 00.8500'Ya 59500 140,595,00 .
0/:30/2031 _ _ N0,595 00
1`ohO $1,35.5,004000.0000 $64,132.540 51,419,132,:3(1 _.
Yield taCi0:04irsa
lira d Yew DollkwP 5'7,545(10
Avot a8u P'oul'raan 0 8500(X190"0'Sn
r
Net lf7toae g0 Com(NIC) 0 85000076')00%
Frue lmcU cs> Com("11C3°) 0 85000 000""/u
Bond 4 ieki Off¢AdIrNImge llurposccs� 0,85000001A
A11 In Ird m-Cost(A[C) 8:100000%
MS Form 80.38
004'0 lnvrres, Com 0 814)4141XBIliOX,
yWt°800!.0. N9 5u r�a.r: a+lwNrlcv ti W'a"rais'
' 2MLam G'4,nTfImp%I(V6V I;,J htY.AG f_G'Ufat'&b;�l- I IEM1MM,VU I 936 if+M