Contract - Brushy Creek Municipal Utility District - 1/27/2022 OR� 0
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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 A�-day of �Q►�/ ,
by and between the City of Round Rock, Texas ("Round Rock") a hoTme-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 30th 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
-R-2.022-028
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 II
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 All, 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
B
Y•
President
Attest:
By: S�h'—'w
Secretary
CITY OF R UND ROCK, T XAS
By:
Craig organ, yor
Attest:
By: A _
Meagan S ks, d—tj 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
$35,185,000 Utility System Revenue Refunding Bonds, Series 2016
Brushy Creek MUD Portion
Debt Service Schedule Part 1 of 2
Date Principal Interest Total P+1 Fiscal Total
09/30/2021 - -
02/01/2022 53,062.50 53,062.50 -
08/01/2022 53,062.50 53,062.50 -
09/30/2022 - - 106,125.00
02/01/2_023 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 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 47,312.50 292,312.50
09/30/2026 - - 339,625.00
02/01/2027 - 41,187.50 41,187.50 -
09/01/2027 255,000.00 41,187.50 296,187.50 -
09/30/2027 - - - 337,375.00
02/01/2028 - 38,000.00 38,000.00
08/01/2028 260,000.00 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 34,750.00 299,750.00 -
09/30/2029 - - 334,_5_0.0._00
02/01/2030 - 31,106.25 31,106.25 -
08/01/2030 275,000.00 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 27,325.00 312,325.00
09/30/2031 - - - 339,650.00
02/01/2032 - 23,050.00 23,050.00 -
08/01/2032 290,000.00 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 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 12,700.00 322,700.00 -
09/30/2034 - - 335,400.00
Aggregate 1 10/14/2021 1 5:27 PM
Specialized PublicFinance
Austinjexas LEX!IBIT
{(4 5
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 Interest Total P+I Fiscal Total
02/01/2035 - 6,500.00 6,500.00
08/01/2035 325,000.00 6,500.00 331,500.00 -
09/30/2035 - - - 338,000.00
Total $3,040,000.00 $985,762.50 $4,025,762.50 -
Yield Statistics
Base date for Avg.Life&Avg.Coupon Calculations 9/OI/2018
Average Life 12.229 Years
Average Coupon 3.48415780/o
Par Amounts Of Selected Issues
2016 Utility Rev Ref(6/6)mud totals-Brushy Creek MUD 3,040,000.00
TOTAL 3,040,000.00
Aggregate 1 10/14/2021 1 5:27 PM
•' . ' I w •
a 1 IN 11
EXHIBIT
a a 5
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 Interest Total P+I Fiscal Total
09/30/2021 - -
02/01/2022 - 44,387.50 44,387.50
08/01/2022 180,000.00 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 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 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
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
Aggregate 1 10/14/2021 1 519 PM
Specialized Public
Austin, Texas
EXHIBIT
3 5
City of Round Rock,Texas
$32,785,000 Utility System Revenue Refunding Bonds, Series 2017
Brushy Creek MUD Portion
Debt Service Schedule Part 2of2
Date Principal Interest Total P+I Fiscal Total
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 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 - - - 396,662.50
02/01/2039 - 8,075.00 8,075.00 -
08/01/2039 380,000.00 8,075.00 388,075.00 -
09/30/2039 - - - 396,150.00
Total $1,990,000.00 $1,062,715.00 $3,052,715.00 -
Yield Statistics
Base date for Avg.Life&Avg.Coupon Calculations 9/01/2018
Average Life 14.400 Years
Average Coupon 4.3287052%
Par Amounts Of Selected Issues
2017 Utility Rev Ref allocation as of 9/30/20-Brushy Creek MUD 1,990,000.00
TOTAL 1,990,000.00
Aggregate 110MV2021 1 5:29 PM
Eqr!EXIBIT
S PEN9
Brushy Creek Municipal Utility District
$1,130,000 East Plant Project Obligation, Series 2022
Preliminary
Debt Service Schedule
Date Principal Coupon Interest Total P+I Fiscal Total
02/01/2022 -
08/01/2022 3,672.50 3,672.50 -
09/30/2022 - - - - 3,672.50
02/01/2023 110,000.00 0.650% 3,672.50 113,672.50 -
08/01/2023 - 3,315.00 3,315.00 -
09/30/2023 - - - 116,987.50
02/01/2024 110,000.00 0.650% 3,315.00 113,315.00 -
08/01/2024 - - 2,957.50 2,957.50 -
09/30/2024 - - - 116,272.50
02/01/2025 110,000.00 0.650% 2,957.50 112,957.50
08/01/2025 - - 2,600.00 2,600.00 -
09/30/2025 - - - - 115,557.50
02/01/2026 110,000.00 0.6501/6 2,600.00 112,600.00 -
08/01/2026 - - 2,242.50 2,242.50 -
09/30/2026 - - - - 114,842.50
02/01/2027 115,000.00 0.650% 2,242.50 117,242.50 -
08/01/2027 - - 1,868.75 1,868.75 -
09/30/2027 - - - - 119,111.25
02/01/2028 115,000.00 0.650% 1,868.75 116,868.75 -
08/01/2028 - - 1,495.00 1,495.00
09/30/2028 - - - 118,363.75
02/01/2029 115,000.00 0.650% 1,495.00 116,495.00 -
08/01/2029 - - 1,121.25 1,121.25 -
09/30/2029 - - - - 117,616.25
02/01/2030 115,000.00 0.650% 1,121.25 116,121.25 -
08/01/2030 - 747.50 747.50 -
09/30/2030 - - - - 116,868.75
02/01/2031 115,000.00 0.650% 747.50 115,747.50 -
08/01/2031 - 373.75 373.75 -
09/30/2031 - - - - 116,121.25
02/01/2032 115,000.00 0.650% 373 75 115,373.75 -
09/30/2032 - - - 115,373.75
Total S1,130,000.00 510,787.50 $1,170,787.50 -
Yield Statistics
Bond Year Dollars 56,275.00
Average Life 5.553 Years
Average Coupon 0.6500000%
Net Interest Cost(NIC) 0.6500000%
True Interest Cost(TIC) 0.6500000%
Bond Yield for Arbitrage Purposes 0.6500000%
All Inclusive Cost(AIC) 0.6500000%
IRS Form 8038
Net Interest Cost 0.6500000%
Weighted Average Maturity 5.553 Years
22 East Plant Protect(10 1 SINGLE PURPOSE 1 7212021 1 4:09 PM
Specialized Public Finance Inc.
Austin, Texas
--LEXHIBIT
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