R-2014-1910 - 10/23/2014RESOLUTION NO. R-2014-1910
WHEREAS, the City of Round Rock, Texas (the "Issuer") is a home -rule City of the State of
Texas, and
WHEREAS, the Issuer expects to pay expenditures in connection with acquiring certain
vehicles and equipment, described in Exhibit A, (the "Property") prior to the issuance of obligations to
finance the Property, 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 Property, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
I.
That the Issuer reasonably expects to incur debt, as one or more separate series of various types
of obligations, with an aggregate maximum principal amount equal to $2,000,000.00 for the purpose of
paying the costs of the Property.
II.
That 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.
0112.1404;00313185/ss2
The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant to this
Resolution more than five years after the date any expenditure which is to be reimbursed is paid.
IV.
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 551, Texas Government Code, as amended.
RESOLVED this 23" day of October, 2014.
ATTEST:
-Depot (Alif
2
ALAN MCGRAW, Mayor
City of Round Rock, Texas
EXHIBIT
"A„
City of Round Rock
Eligible Capital Lease Items 2014 - 2015
Police
Patrol Vehicles
11
$550,000
Police
Patrol Motorcycles
3
$93,000
Fire
Generators
2
$130,000
Fire
Fire Engine
1
$673,700
PARD
Mowers
4
$195,800
PARD
SandPro
1
$26,000
PARD
Econo-Van
1
$110,000
Transportation
Asphalt Layer
1
$75,000
Transportation
Crack Sealer
1
$31,500
Transportation
Water Truck
1
$115,000
Subtotal: $
2,000,000.00