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R-00-04-13-10C3 - 4/13/2000THE STATE OF TEXAS CITY OF ROUND ROCK 1 T l //0 et) 0 RESOLUTION DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF ROUND ROCK, TEXAS COMBINATION TAX AND. REVENUE CERTIFICATES OF OBLIGATION, SERIES 2000; APPROVING A PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING DISTRIBUTION OF SUCH PRELIMINARY OFFICIAL STATEMENT AND OTHER MATTERS RELATED THERETO WHEREAS, the City Council (the "Council ") of the City of Round Rock, Texas (the "City") finds that the payment in whole or in part of contractual obligations incurred or to be incurred for public improvements within the City to wit: (1) constructing, improving and equipping of one or more municipal office buildings including the purchase of any necessary sites, (2) constructing street, drainage and sidewalk improvements within the City including the purchase of any necessary right -of -way and other related costs, (3) constructing, improving, renovating and equipping City parks including the purchase of any necessary sites, (4) improving and equipping fire department facilities, (5) acquisition of right -of -way for State Highway 45, and (6) the payment of professional services in connection therewith including legal, fiscal, and engineering fees and the costs of issuance in connection with the Certificates described below (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 certificates of obligation in a maximum principal amount not `to exceed $ 27,030,000 (the "Certificates ") 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 once a week for two consecutive weeks in a newspaper of general circulation in the City with the first publication to be at least 14 days before the date tentatively set for passage of the Ordinance authorizing the Certificates, the notice stating: (i) the time and place tentatively set for the passage of the ordinance authorizing the issuance of the Certificates, (ii) the maximum amount and purpose of the Certificates to be authorized, and (iii) the manner in which the Certificates will be paid; and WHEREAS, a substantially final draft of the Preliminary Official Statement in connection with the issuance of the Certificates has been presented to the Council; 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. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RROWLVIPPR NOTICE PM ROUND ROCK, TEXAS: 1. Attached hereto as Fxhihit "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. The City Secretary or other authorized representatives of the City, shall cause the notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the City, once a week on the same day in each of two consecutive weeks, the date of the first publication to be at least 14 days prior to the time set for the ordinance authorizing issuance of the Certificates as shown in the notice. 3. The City hereby approves the Preliminary Official Statement substantially in the form attached hereto as Bxhibit "B" with such changes, additions or deletions as directed by the City. The City's Financial Advisor is hereby authorized to distribute the Preliminary Official Statement to potential purchasers and to do all things necessary to market the Certificates including making application to the various rating agencies and bond insurance companies. 4. This Resolution shall become effective immediately upon adoption. The Mayor and City Secretary are hereby authorized and directed to execute the certificate to which this Resolution is attached on behalf of the City and to do any and all things proper and necessary to carry out the intent of this Resolution. MOP-TOSCOCt w"ctRES 2 EXHIBIT "A" NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION 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 entitled "City of Round Rock, Texas Combination Tax and Revenue Certificates of Obligation, Series 2000," for the purpose of paying contractual obligations incurred or to be incurred by the City for public improvements within the City to wit: (1) constructing, improving and equipping of one or more municipal office buildings including the purchase of any necessary sites, (2) constructing street, drainage and sidewalk improvements within the City including the purchase of any necessary right- of-way and other related costs, (3) constructing, improving, renovating and equipping City parks including the purchase of any necessary sites, (4) improving and equipping fire department facilities, (5) acquisition of right -of -way for State Highway 45, and (6) the payment of professional services in connection therewith including legal, fiscal, and engineering fees and the costs of issuance in connection with the Certificates. The City Council tentatively proposes to authorize the issuance of such Certificates of Obligation at its regular meeting place in the City Hall, 221 E. Main Street, Round Rock, Texas 78664, at a meeting to commence at 7:00 p.m., on the 1 lth day of May, 2000. The maximum amount of Certificates of Obligation that may be authorized for such purpose is $ 27,030,000 . The City Council presently proposes to provide for the payment of such Certificates of Obligation from the levy of ad valorem taxes and from a limited pledge of surplus revenues derived from the operation of the City's combined waterworks and sewer system. CITY OF ROUND ROCK, TEXAS is/ Robert Stulka Mayor PR EXHIBIT "B" Preliminary Official Statement 4 DATE: April 7, 2000 SUBJECT: City Council Meeting — April 13, 2000 ITEM: 10.C.3. Consider a resolution authorizing the publication of a notice of intention to issue City of Round Rock, Texas Combination Tax and Revenue Certificates of Obligation, Series 2000; approving a Preliminary Official Statement; authorizing distribution of such Preliminary Official Statement and other matters related thereto. Staff Resource Person: David Kautz, Finance Director.