Contract - Round Rock - 2/10/2022 RESOLUTION NO. R-2022-043
.RESOLUTION AUTHORIZING THE PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CITY OF ROUND ROCK,TEXAS COMBINATION TAX AND LUVff17ED
REVENUE CERTIFICATES OF OBLIGATION,SERIES 2022 AND OTHER MATTERS
RELATED THERETO
THE STATE OF TEXAS §
COUNTIES OF TRAVIS AND WILLIAMSON §
CITY OF ROUND ROCK §
WHEREAS, the City Council (the"Council")of the City of Round Rock, Texas(the"City")
has determined that it is in the best interest of the City to proceed with the issuance of certificates
of obligation ("Certificates") to implement certain projects; and
WHEREAS, the City Council of the City finds that the payment in whole or in part
of contractual obligations incurred or to be incurred for the purposes set forth in Exhibit "A"
attached hereto (the "Contractual Obligations") would be beneficial to the inhabitants of the
City and are needed to perform essential City functions; and
WHEREAS, the Council has deemed it advisable to give notice of intention to issue the
Certificates in a maximum principal amount not to exceed $37,750,000 pursuant to the provisions
of the Certificate of Obligation Act of 1971, Section 271.041 et seq., Local Government Code (the
"Act") for the purpose of financing the Contractual Obligations; and
WHEREAS, prior to the issuance of the Certificates, the City is required under the Act to
publish notice of its intention to issue the Certificates in a newspaper of general circulation in the
City and continuously on the City's website,the notice stating: (i) the time and place tentatively set
for the passage of the ordinance authorizing the issuance of the Certificates, (ii) the purpose of the
Certificates, (iii) the manner in which the Certificates will be paid, (iv)the then-current principal of
all outstanding debt obligations of the City; (v) the then-current combined principal and interest
required to pay all outstanding debt obligations of the City on time and in full; (vi) the maximum
principal amount of the Certificates; (vii) the estimated combined principal and interest required to
pay the Certificates on time and in full; (viii) the estimated interest rate for the Certificates or that
the maximum interest rate for the Certificates may not exceed the maximum legal interest rate; and
(ix) the maximum maturity date of the Certificates; and
WHEREAS, the meeting at which this Resolution is adopted was open to the public and
public notice of the time, place and purpose of the meeting was given, all as required by Chapter
551,Texas Government Code, as amended.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ROUND ROCK,TEXAS:
Round Rock\CO\2022: Notice Res
I. Attached hereto as Exhibit "A" is a form of the Notice of Intention to issue the
Certificates, the form and substance of which is hereby adopted and approved.
2. Bond Counsel to the City shall cause the notice to be published in substantially the
form attached hereto, in a newspaper (as defined by Subchapter C, Chapter 2051, Government Code)
that is of general circulation in the City, for two consecutive weeks, the date of the first publication to
be at least 46 days before the date tentatively set for passage of the ordinance authorizing the issuance
of the Certificates.
3. The City Secretary shall cause the notice to be continuously published in substantially
the form attached hereto on the City's website for at least 45 days before the date tentatively set for the
passage of the ordinance authorizing the issuance of the Certificates.
4. The City's Chief Financial Officer and the City's Deputy Chief Financial Officer
along with the City's financial advisor, Specialized Public Finance Inc., and bond counsel are
authorized to proceed with preparing the necessary bond and offering documents to effectuate
the sale of the Certificates and any other public securities of the City anticipated to be sold at or near
the time of the Certificates, including making application to appropriate rating agencies and bond
insurers, if applicable.
5. The City hereby authorizes the disbursement of a fee equal to the lesser of(i) one-
tenth of one percent of the principal amount of each series of the Certificates being issued or (ii)
$9,500 per series, provided that such fee shall not be less than $750, to the Attorney General of
Texas Public Finance Division for payment of the examination fee charged by the State of Texas
for the Attorney General's review and approval of public securities and credit agreements, as
required by Section 1202.004 of the Texas Government Code. The appropriate member of the City's
staff is hereby instructed to take the necessary measures to make this payment. The City is also
authorized to reimburse the appropriate City funds for such payment from proceeds of the
Certificates.
6. This Resolution shall become effective immediately upon adoption. The Mayor
and City Clerk are hereby authorized and directed to execute the certificate to which this Resolution
is attached on behalf of the City, and the Mayor, City Clerk and City Manager are further authorized
to do any and all things proper and necessary to carry out the intent of this Resolution.
Round Rock\CO\2022: Notice Res 2
RESOLVED this 10th away offebt-LI:rr'y, 20,22..
ATTEST: CITY OF ROUND ROCK, TEXAS
City Clerk Mayor
City of Roun)l Rack, Texas City of Room d Ro k, Texas
APPROVED ASTO FORM:
L ,
6'ty Att('Im ey
City of Round Rock, Texas
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CITY OF ROUND ROCK, TEXAS
COMBINATION TAX AND LIMITED REVENUE CERTIFICATES OF
OBLIGATION, SERIES 2022
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
Round Rock, Texas, to issue interest bearing Certificates of Obligation of the City (the
"Certificates") for the purpose of paying contractual obligations incurred or to be incurred by the
City for: (1) constructing, improving,extending,expanding,upgrading and/or developing streets,
roads,bridges,sidewalks,intersections,traffic signalization and other transportation improvement
projects including related waterworks, sewer and drainage improvements, signage, landscaping,
irrigation, purchasing any necessary rights-of-way and other related transportation costs,
including,but not limited to Arterial Street Maintenance, Bagdad Improvements, Chisholm Trail
North, County Road 112, Creek Bend Boulevard, Eagles Nest, Gattis School Road, Greenlawn
Boulevard Improvements, Kenney Fort Boulevard, Northeast Downtown Improvements, Old
Settlers Boulevard,Red Bud Lane North and South,South Mays Corridor, University Boulevard,
University East, and Wyoming Springs Drive; and (2) professional services including fiscal,
engineering, architectural and legal fees and other such costs incurred in connection therewith
including the costs of issuing the Certificates. The City Council tentatively proposes to consider
for first and final reading at a meeting to commence at 6:00 p.m., on the 28th day of April, 2022
at City Hall, 221 East Main Street, Round Rock, Texas, 78664, the passage ofan ordinance
authorizing the Certificates. The maximum amount of the Certificates that may be authorized for
such purpose is $37,750,000. The City Council presently proposes to provide for the payment of
such Certificates from the levy and collection of ad valorem taxes in the City as provided by law
and from the surplus revenues of the City's combined waterworks, sewer and drainage utility
system in an amount not to exceed $1,000, remaining after payment of all operation and
maintenance expenses thereof, and all debt service, reserve and other requirements in connection
with all of the City's revenue bonds or other obligations (now or hereafter outstanding)which are
payable from all or any part of the net revenues of such system.
Due to the ongoing public health concerns regarding the COVID 19 virus, and as may be
authorized by Executive Order of the Governor of Texas, such meeting regarding the Certificates
to be held on April 28,2022 may be conducted via a free public video conference or other lawful
electronic means. In such event, information regarding how to access the meeting and public
participation in the meeting will be available on the City's website and in the agenda posted no
less than 72 hours before such meeting at the following internet address:
https://www.roundrocktexas.gov/
The following information is required pursuant to Texas Local Government Cade, Section
271.049: As of February 10, 2022, the aggregate principal amount of all outstanding debt
obligations of the City secured by and payable from ad valorem taxes is $278,205,000. As of
February 10, 2022, the combined principal and interest required to pay all outstanding debt
obligations of the City secured by and payable from ad valorem taxes on time and in full is
Round Rock\C0\2022: Notice Res A-1
$380,233,300.72. Such amounts also include debt service on debt that the City currently intends
to pay from sources other than ad valorem taxes but that could be paid from ad valorem taxes if
such other sources are not available at the time required for payment. The estimated combined
principal and interest required to pay the Certificates on time and in full is $58,363,540.28. The
estimated interest rate for the Certificates is 3.25%. Such estimates take into account a number
of factors, including the issuance schedule, maturity schedule and the expected ratings of the
proposed Certificates. Such estimated interest rate is provided as a matter of information, but is
not a limitation on the interest rate at which the Certificates may be sold. The maximum maturity
date of the Certificates is August 15, 2047.
CITY OF ROUND ROCK,TEXAS
Round Rock\C0\2022: Notice Res A-2
CERTIFICATE FOR RESOLUTION NO.R-2022-043
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
CITY OF ROUND ROCK §
We, the undersigned officers and members of the City of Round Rock, Texas (the
"City"), hereby certify as follows:
1. The City Council of the City convened in REGULAR MEETING ON THE 10TH
DAY OF FEBRUARY, 2022 (the "Meeting"), and the roll was called of the duly constituted
officers and members of the City,to-wit:
Craig Morgan, Mayor
Michelle Ly, Place 1
Rene Flores, Place 2, Mayor Pro-Tem
Matthew Baker,Place 3
Frank Ortega, Place 4
Kristin Stevens, Place 5
Hilda Montgomery, Place 6
and all of the persons were present, except the following absentees: , thus
constituting a quorum. Whereupon, among other business, the following was transacted at the
Meeting: a written
RESOLUTION AUTHORIZING THE PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CITY OF ROUND ROCK,TEXAS COMBINATION TAX AND LIMITED
REVENUE CERTIFICATES OF OBLIGATION,SERIES 2022 AND OTHER MATTERS
RELATED THERETO
was duly introduced for the consideration of the City Council. It was then duly moved and
seconded that the Resolution be passed on first reading; and, after due discussion, said motion
carrying with it the passage of the Resolution,prevailed and carried by the following vote:
AYES: 7
NOES:
2. A true, full and correct copy of the Resolution passed at the Meeting described in
the above and foregoing paragraphs is attached to and follows this Certificate; that the
Resolution has been duly recorded in the City Council's minutes of the Meeting; that the above
and foregoing paragraphs are a true, full and correct excerpt from the City Council's minutes of
the Meeting pertaining to the passage of the Resolution; that the persons named in the above and
foregoing paragraphs are the duly chosen, qualified and acting officers and members of the City
Council as indicated therein; that each of the officers and members of the City Council was duly
and sufficiently notified officially and personally, in advance, of the time, place and purpose of
RoundRock\CO\2022: NoticeoflntentResCert
the Meeting, and that the Resolution would be introduced and considered for passage at the
Meeting, and each of the officers and members consented, in advance, to the holding of the
Meetings for such purpose, and that the Meeting was open to the public and public notice of the
time, place and purpose of the meeting was given, all as required by Chapter 551, Texas
Government Cade, and as further modified by an order issued by the Governor of the State of
Texas on March 16, 2020, suspending certain provisions of the Open Meetings Act in light of his
disaster proclamation issued on March 13, 2020, regarding the novel coronavirus(COVID-19).
3. The Mayor of the City has approved and hereby approves the Resolution; that the
Mayor and the City Clerk of the City have duly signed the Resolution; and that the Mayor and
the City Clerk of the City hereby declare that their signing of this Certificate shall constitute the
signing of the attached and following copy of the Resolution for all purposes.
RoundRock1C00022: NoticeoflntentResCm
SIGNED AND SEALED the 10"' clay of FebrUary, 2022.
qVI C.,kaN -,6� �,� i&l
City Clerk Mayo
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R,ounc]Rock\C.0\2)22: Noficcol"IntentResCen