R-00-03-09-10C2 - 3/9/2000X:\ WPDOCS \RESOLDTI \R00309C2.WPD /ec
RESOLUTION NO. R- 00- 03- 09 -10C2
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK
( "CITY ") REQUESTING FINANCIAL ASSISTANCE FROM THE STATE
INFRASTRUCTURE BANK IN AN AMOUNT NOT TO EXCEED
$ J(p oar); AUTHORIZING THE FILING OF AN APPLICATION FOR
FINAN ASSISTANCE; AND MAKING CERTAIN FINDINGS IN
CONNECTION THEREWITH.
WHEREAS, the City Council of the City hereby finds and
determines that there is an urgent need for the City to construct
improvements to the City's transportation system, and
WHEREAS, such capital improvements cannot be reasonably financed
unless financial assistance is obtained from the State Infrastructure
Bank, and
WHEREAS, the City Council now desires to request financial
assistance in an amount not to exceed $14000,0 0(), Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
Section 1. An application to the State Infrastructure Bank is
hereby approved and authorized to be filed with the State
Infrastructure Bank seeking financial assistance in an amount not to
exceed s I(D,Oa,CO() to provide for the costs of construction of
improvements to the City's transportation system.
Section 2. The Mayor is hereby designated as the authorized
representative of the City for purposes for furnishing such information
and executing such documents as may be required in connection with the
preparation and filing of such application for financial assistance and
with complying with the Rules of the State Infrastructure Bank.
Section 3. The following firms and individuals are hereby
authorized and directed to aid and assist in the preparation and
submission of such application and appear on behalf of and represent
the City before any hearing held by the State Infrastructure Bank on
such applications, to wit:
Mr. Garry Kimball
First Southwest Company
98 San Jacinto Blvd., Suite 370
Austin, Texas 78701
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, and the Act.
RESOLVED this 9th day of March, 2000.
ATTEST:
E LAND, City Secretary
2
RO -ERT A. STLUKA, JR., Mayor
City of Round Rock, Texas
DATE: March 3, 2000
SUBJECT: City Council Meeting — March 9, 2000
ITEM: 10.C.2. Consider a resolution approving an application to the State
Infrastructure Bank for financial assistance. The application for
financial assistance is for the amount of $16,000,000 and is for the
purpose of funding certain right of way acquisition and improvements
on proposed SH 45. Staff Resource Person(s): Bob Bennett, City
Manager and David Kautz, Finance Director.
REC AUts 12-al
Texas Department of Transportation
David Kautz
City of Round Rock
Finance Director
221 E. Main Street
Round Rock, TX 78664
Dear Mr. Kautz:
Please be advised that your State Infrastructure Bank (SIB) loan proceeds in the amount of
$16,000,000 were electronically transferred to Chase Bank - Houston on 8/28/00.
Attached is a copy of the new amortization payment schedule for the length of your loan.
The new schedule shows the actual disbursement date which will also be your annual
payment due date. Payment should be remitted to the following address:
If you have any questions or would like additional information, please feel free to call the SIB
Manager Dorn Smith at (512) 463 -8721 or Javier Pena at (512) 463 -8046.
Sincerely,
"ig
James Bass
Director, Finance Division
Attachment
DEWITT C, GREER STATE HIGHWAY BLDG. • 125 E. 11TH STREET • AUSTIN, TEXAS 78701.2483 • (512) 463 - 8585
August 30, 2000
cc: William C. Garbade, P.E., Austin District
Brad Gatlin, FIN
Cindy Demers, City of Round Rock
cc ,
Texas Department of Transportation
Finance Division - Revenue Accounting
125 E. 11 Street 3 Floor
Austin, TX 78701 -2483
An Equal Opportunity Employer
Loan Amount $16,000,000.00
Rate 4.60%
Term 15
Payment - $1,500,081.15
Exhibit C
Principal and Interest Repayment Schedule
The actual date for the repayment of funds in this Exhibit C is the date of the receipt of the SIB
funds (Deposit Date) by the Round Rock Transportation System Development Corporation (RRTSDC).
Each annual payment date is one year from the date of receipt of funds (Deposit Date) until
loan is paid in full. Any payments made in addition to the annual payment of $1,500,081.15 will
be allocated to the current balance. Annual payments will remain at the stated amount throughout the life
of the loan. A revised principal and interest repayment schedule will be attached to this agreement when the
Deposit Date is determined, and also when additional payments are made.
Beginning Current
Balance Principal Interest Payment Balance
August 28, 2001 $16,000,000.00 - $764,081.15 $736,000.00 41,500,081.15 $15,235,918.85
August 28, 2002 - $799,228.88 $700,852.27 - $1,500,081.15 $14,436,689.97
August 28, 2003 - $835,993.41 $664,087.74 41,500,081.15 $13,600,696.55
August 28, 2004 - $874,449.11 $625,632.04 41,500,081.15 $12,726,247.45
August 28, 2005 4914,673.77 $585,407.38 - $1,500,081.15 $11,811,573.68
August 28, 2006 4956,748.76 $543,332.39 41,500,081.15 $10,854,824.92
August 28, 2007 41,000,759.20 $499,321.95 41,500,081.15 $9,854,065.71
August 28, 2008 - $1,046,794.13 $453,287.02 - $1,500,081.15 $8,807,271.59
August 28, 2009 41,094,946.66 $405,134.49 - $1,500,081.15 $7,712,324.93
August 28, 2010 41,145,314.20 $354,766.95 - 51,500,081.15 $6,567,010.72
August 28, 2011 - $1,197,998.66 $302,082.49 - 51,500,081.15 $5,369,012.07
August 28, 2012 - $1,253,106.60 $246,974.56 - $1,500,081.15 $4,115,905.47
August 28, 2013 - $1,310,749.50 $189,331.65 - 51,500,081.15 $2,805,155.97
August 28, 2014 - $1,371,043.98 $129,037.17 - 51,500,081.15 $1,434,112.00
August 28, 2015 41,434,112.00 $65,969.15 41,500,081.15 $0.00
- $16,000,000.00 $6,501,217.25 - $22,501,217.25