TB-2022-003 - 2/24/2022 RESOLUTION NO. TB-2022-003
RESOLUTION REQUESTING FINANCIAL ASSISTANCE FROM THE STATE
INFRASTRUCTURE BANK; AUTHORIZING THE FILING OF AN APPLICATION
FOR FINANCIAL ASSISTANCE; AND MAKING CERTAIN FINDINGS IN
CONNECTION T E IT
THE STATE OF TEXAS §
ROUND C TRANSPORTATION AND! ECONOMIC
DEVELOPMENT CORPORATION §
WHEREAS, the Board of Directors (the "Board") of the Round Rock Transportation and
Economic Development Corporation(the "Corporation")hereby finds and determines that there is
a need for the City of Round Rack ("City") to construct the improvements to the City's
transportation system described herein;and
WHEREAS, the State Infrastructure Bank, operated by the Texas Department of
Transportation, is a revolving loan fund; and
WHEREAS, the Board deems it proper and in the best interest of the Corporation that an
application be filed requesting a Loan from the state Infrastructure Bank in an amount not to exceed
$27,000,000 to be used for improvements to the City's transportation system related to widening
Gattis School Road from an existing four lane roadway to a six-lane divided major arterial with
pedestrian, bicycle,median,and turn lane improvements between Windy Creek and Double Creek
Drive; and
WHEREAS,the Corporation is qualified to apply for and obtain financial assistance from
the State Infrastructure Bank for this purpose.
NOW THEREFORE, BE IT RESOLVED BY THE BOARDF DIRECTORS OF
THE ROUND ROCKTRANSPORTATION AND► ECONOMIC DEVELOPMENT
CORPORATION,T AT
Section 1, The Board believes that it is in the best interest of the Corporation to obtain
a loan from the State Infrastructure Bank in an amount not to exceed $27,000,000 to be used for
improvements to the City's transportation system related to widening Gattis School Road from an
existing four lane roadway to a six-lane divided major arterial with pedestrian, bicycle, median,.
and turn lane improvements between Windy Creek and Double Creek Drive.
Section 2. The Board hereby authorizes the President of the Corporation (the
"Authorized Representative") to execute an application for financial assistance from the state
Infrastructure Bank and to submit the application,together with all required documentation, to the
Texas Department of Transportation for consideration. The Authorized Representative is further
authorized to execute all appropriate documents related to obtaining such loan from the State
Infrastructure Bank. Such loan may be obtained by the Corporation acting on behalf of the City.
Section 3. The form of application to be submitted is attached hereto as Exhibit A and
made a part hereof for all purposes with such changes as may be considered appropriate by the
Authorized Representative.
Section 4. Specialized Public Finance Inc., Financial Advisor to the Corporation, is
hereby authorized and directed to aid and assist in the preparation and submission of such
application.Mr.Garry Kimball of Specialized Public Finance Inc. is authorized to appear on behalf
of and represent the Corporation before any hearing or other communications with the State
Infrastructure Bank on such application or loan.
Section 5. The findings and preambles set forth in this Resolution are hereby
incorporated into this Resolution and made a part hereof for all purposes.
Section 6. The Board 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.
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RESOLVED on this the 24th day of February,2022.
By:
.... .......
A 'resident
Trans
4 ti�
CRAIG M RGA' 'resident
Round Roc Trans ortation and Economic
Development Corporation
ATTEST:
. .._,.m. ,..........
RICK VII.LARREAL, ecretary
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EXHIBIT
APPLICATION FOR SIBAN