R-02-02-14-13B1 - 2/14/2002: •ODMA \WORLDOX \0: \WDOX \RESOLUTI\ 00020760 .WPD/r20214b1/sc
RESOLUTION NO. R- 02- 02- 14 -13B1
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
$15,000,000; AUTHORIZING THE FILING OF AN APPLICATION FOR
FINANCIAL 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 to acquire right -of -way and
relocate utilities for the construction of improvements to the City's
transportation system, and
WHEREAS, such right -of -way acquisition and utility relocation
cannot be reasonably financed unless financial assistance is obtained
from the State Infrastructure Bank, and
WHEREAS, the Board of Directors of the Round Rock Transportation
System Development Corporation has recommended to the Council that it
request financial assistance from the State Infrastructure Bank in an
amount not to exceed $15,000,000, and
WHEREAS, the City Council now desires to approve said request
for financial assistance, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
Section 1. The Round Rock Transportation System Development
Corporation is hereby authorized to make an application to the State
Infrastructure Bank seeking financial assistance in an amount not to
exceed $15,000,000 to provide for the costs of right -of -way acquisition
and utility relocation for the construction of improvements to the
City's transportation system.
Section 2. The Mayor and /or President of the Board of
Directors is hereby designated as the authorized representative of the
City and the Round Rock Transportation System Development Corporation
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 and the Round Rock Transportation System Development
Corporation 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
2
Government Code, as amended.
RESOLVED this 14th day of February, 2002.
1
ROB A. STLUKA, JR., ayor
ATTEST: City of Round Rock, Texas
CHRISTINE R. MARTINEZ, City Se¢,etary
3
DATE: February 7, 2002
SUBJECT: City Council Meeting — February 14, 2002
ITEM: 13.B.1. Consider a resolution approving the action of the Round Rock
Transportation System Development Corporation in entering into a
State Infrastructure Bank Loan Agreement with the State of Texas
for the SH 45 frontage road project.
Resource: David Kautz, Finance Director
History:
Funding: N/A
Cost: N/A
Source of Funds: N/A
Outside Resources: N/A
Impact/Benefit:
Public Comment: Public Hearings on the SH 45 project are held in connection with the
Transportation Capital Improvement Plan.
Sponsor: N/A
In August 2000, the Round Rock Transportation System Development
Corporation entered into a loan agreement with the State Infrastructure
Bank (SIB) in the amount of $16,000,000 for SH 45 frontage road
proj ect.
The purpose of this item is to approve a loan application to the SIB for
the purpose of financing additional participation by the Round Rock
Transportation System Development Corporation in the SH 45 project.
The planned SH 45 project will alleviate traffic congestion on existing
roadways in the area, provde a safer alternative to the existing
roadway system and provide an east -west thoroughfare linking Austin
to the Cedar Park, Leander, Round Rock and Pflugerville areas.