R-81-403 - 8/13/19814 /e-
RESOLUTION
WHEREAS, the City Council of the City of Round Rock, Texas desires to
receive bids for the purchase of its $820,000 General Obligation Bonds,
Series 1981 -C; and
WHEREAS, First Southwest Company, Dallas, Texas, has been authorized
and requested to prepare a Notice of Sale and Bidding Instructions, Offi-
cial Bid Form and Official Statement containing financial, economic and
other data necessary and desirable to attract bids for said bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ROUND ROCK, TEXAS:
That the attached Notice of Sale and Bidding Instructions, Official
Bid Form and Official Statement relative to $820,000 City of Round Rock,
Texas General Obligation Bonds, Series 1981 -C, are hereby approved, both
as to form and content, and said First Southwest Company is authorized to
distribute said Notice of Sale and Bidding Instructions, Official Bid Form
and Official Statement to prospective bidders for, and purchasers of, the
bonds.
PASSED AND APPROVED this the 13th day of August, 1981, by the City
Council of the City of Round Rock, Texas, convened in /LplJ, q� session
with a lawful quorum present. jj//
ATTEST:
City Secretary
/
Mayor
CITY OF ROUND ROC/(, TEXAS
(WILLIAMSON COUNTY)
$820,000
GENERAL 081/GAT /ON BONDS,
SERIES 1981 -C
SELLING 410ND4Y, AUGUST 31, 1981,
AT 7 :00 NI, CDT
THE SALE
Bonds Offered for Sale at Competitive Bidding ... The City of Round Rock, Texas (the "City "), is
offering for sale its $820,000 General Obligation Bonds, Series 1981 -C (the "Bonds ").
Address of Bids ... Sealed bids, plainly marked "Bid for Bonds ", should be addressed and
delivered to "Mayor and City Council, City of Round Rock, Texas ", prior to 7:00 PM, CDT, on the
date of the bid opening. All bids must be submitted on the Official Bid Form, without
alteration or interlineation.
Place and Time of Bid Opening . The City will open and publicly read the bids for the
purchase of the Bonds at the City Hall Chambers, 214 East Main, Round Rock, Texas, at 7:00 PM,
CDT, Monday, August 31, 1981.
Award of the Bonds ... The City Council will take action to award the Bonds (or reject all bids)
promptly after the opening of bids, and adopt an Ordinance authorizing the Bonds (the "Ordi-
nance") and approving the Official Statement.
THE BONDS
Description ... The Bonds will be dated October 1, 1981, and interest coupons will be due on
February 1, 1983, and each August 1 and February 1 thereafter until the earlier of maturity or
prior redemption. The Bonds and interest coupons attached thereto will be payable at the
Farmers State Bank, Round Rock, Texas, or, at the option of the holder, at First City Bank of
Dallas, Dallas, Texas. The Bonds will mature serially on August 1 in each year as follows:
Principal
Year Amount
0,000
1985 25,000
1986 25,000
1987 25,000
1988 25,000
NOTICE OF SALE
AND
BIDDING INSTRUCTIONS
ON
$820,000
CITY OF ROUND ROCK, TEXAS
(Williamson County)
GENERAL OBLIGATION BONDS, SERIES 1981 -C
Selling Monday, August 31, 1981, at 7:00 PM, CDT
Principal
Year Amount
3989 S. 50,000
1990 50,000
1991 50,000
1992 50,000
1993 50,000
1994 50,000
Principal
Year Amount
1995 $ 50,000
1996 50,000
1997 75,000
1998 75,000
1999 150,000
The City reserves the right, at its option, to redeem . Bonds maturing August 1, 1997, through
August 1, 1999, both inclusive, in whole or any part thereof, on August 1, 1996, or any interest
payment date thereafter, at the par value thereof plus accrued interest to the date fixed for
redemption.
Source of Payment ... The Bonds are direct and voted general obligations payable out of the
receipts from an ad valorem tax levied, within the limits prescribed by law, on taxable
property located within the City.
CONDITIONS OF THE SALE
Types of Bids and Interest Rates ... The Bonds will be sold in one block on an All or None"
basis, and at a price of not less than their par value plus accrued interest to the date of
delivery of the Bonds. Bidders are invited to name the rate(s) of interest to be borne by the
Bonds, provided that each rate bid must be in a multiple of 1/8 of 15 or 1/20 of 1% and the
effective interest rate must not exceed 15 %. The highest coupon rate bid may not exceed the
lowest coupon rate bid by more than 2 1/28 in coupon rate. No limitation is imposed upon
bidders as to the number of rates or coupon changes which may be used. All Bonds of one
maturity must bear one and the same rate. No bids involving supplemental coupons will be
considered. Each bidder shall state in his bid the total interest cost in dollars and the net
effective interest rate determined thereby, which shall be considered informative only and not
as a part of the bid.
Basis for Award . For the purpose of awarding the sale of the Bonds, the interest cost of each
bid will be computed by determining, at the rate or rates specified therein, the total dollar
cost of all interest on the Bonds from the date thereof to their respective maturities, using
the table of Bond Years herein, and deducting therefrom the premium bid, if any. Subject to the
City's right to reject any or all bids and to waive any irregularities except time of filing,
the Bonds will be awarded to the bidder (the "Purchaser ") whose bid based on the above
computation produces the lowest net effective interest cost to the City.
Good Faith Be posit ... A Good Faith Deposit, payable to the "City of Round Rock, Texas" in the
amount o , 00.00, is required. Such Good Faith Deposit shall be in the form of a Cashier's
Check, or its equivalent, which is to be retained uncashed by the City pending the Purchaser's
compliance with the terms of his bid and the Notice of Sale and Bidding Instructions. The Good
Faith Deposit may accompany the Official Bid Form or it may be submitted separately. If
submitted separately, it shall be made available to the City prior to the opening of the bids,
and shall be accompanied by instructions from the bank on which drawn which authorize its use as
a Good Faith Deposit by the Purchaser who shall be named in such instructions. The Good Faith
Deposit of the Purchaser will be applied on the purchase price on the date of delivery of the
Bonds. No interest will be allowed on the Good Faith Deposit. In the event the Purchaser
should fail or refuse to take up and pay for the Bonds in accordance with his bid, then said
check shall be cashed and accepted by the City as full and complete liquidated damages. The
checks accompanying bids other than the winning bid will be returned immediately after the bids
are opened, and an award of the Bonds has been made.
DELIVERY OF THE BONDS AND ACCOMPANYING DOCUMENTS
Printed Bonds ... The City will furnish printed Bonds which will be executed by the facsimile
signatures of the Mayor and Secretary of the City, and by the manual signature of. the Comp-
troller of Public Accounts of the State of Texas. The Bonds will be in coupon form without
privilege of registration as to principal or interest.
CUSIP Numbers ... It is anticipated that CUSIP identification numbers will be printed on the
Bonds, but neither the failure to print such number on any Bond nor any error with respect
thereto shall constitute cause for a failure or refusal by the Purchaser to accept delivery of
and pay for the Bonds in accordance with the terms of this Notice of Sale and the terms of the
Official Bid Form. All expenses in relation to the printing of CUSIP numbers on the Bonds shall
be paid by the City; provided, however, that the CUSIP Service Bureau charge for the assignment
of the numbers shall be the responsibility of and shall be paid for by the Purchaser.
Delivery ... The Bonds will be tendered for delivery to the Purchaser at any bank in Austin,
Texas, at the expense of the City. Payment for the Bonds must be made in immediately available
funds for unconditional credit to the City, or as otherwise directed by the City. The Purchaser
will be given six business days' notice of the time fixed for delivery of the Bonds. It is
anticipated that delivery can be made on or about October 13, 1981, and it is understood and
agreed that the Purchaser will accept delivery and make payment for the Bonds by 10:00 AM, CDT,
on October 13, 1981, or thereafter on the date the Bonds are tendered for delivery, up to and
including October 26, 1981. If for any reason the City is unable to make delivery on or before
October 26, 1981, then the City shall immediately contact the Purchaser and offer to allow the
Purchaser to extend his offer for an additional thirty days. If --6he Purchaser does not e1'ect to
extend his offer within six days thereafter, then his Good Faith Deposit will be returned, and
both the City and the Purchaser shall be relieved of any further obligation. In no event shall
the City be liable for any damages by reason of its failure to 'deliver the Bonds, provided such
failure is due to circumstances beyond the City's reasonable control.
Conditions to Delivery ... The obligation of the Purchaser to take up and pay for the Bonds is
subject to the Purchaser's receipt of (a) the legal opinion of Messrs. McCall, Parkhurst &
Horton, Dallas, Texas, Bond Counsel for the City ( "Bond Counsel "), (b) the no- litigation
certificate, and (c) the certification as to the Official Statement, all as further described
in the Official Statement,
Legal Opinions ... The Bonds are offered when, as and if issued, subject to the unqualified
legal opinion of the Attorney General of the State of Texas, and Messrs. McCall, Parkhurst &
Horton (see Legal Opinions in Official Statement); the opinion of said firm will be printed on
-
Lhe Bonds. —
Certification of Official Statement ... At the time of payment for and delivery of the Bonds,
the City will execute and deliver to the Purchaser a certificate in the form set forth in the
Official Statement.
BOND YEARS
Accumulated
Year Amount Bond Years Bond Years Year
1984 $ 20,000 56.666 56.666 1984
1985 25,000 95.833 152.499 1985
1986 25,000 120.833 273.332 1986
1987 25,000 145.833 419.165 1987
1988 25,000 170.833 589.998 1988
1989 50,000 391.666 981.664 1989
1990 50,000 441.666 1,423.330 1990
1991 50,000 491.666 1,914.996 1991
1992 50,000 541.666 2,456.662 1992
1993 50,000 591.666 3,048.328 1993
1994 50,000 641.666 3,689.994 1994
1995 50,000 691.666 4,381.660 1995
1996 50,000 741.666 5,123.326 - 1996
1997 75,000 1,187.499 6,310.825 1997
1998 75,000 1,262.499 7,573.324 1998
1999 150,000 2,674.999 10,248.323 1999
Average Maturity 12.498 Years
- iv -
Change in Tax Exempt Status . At any time before the Bonds are tendered for delivery, the
Purchaser may withdraw his bid if the interest received by private holders from bonds of the
same type and character shall be declared to be taxable income under present Federal income tax
laws, either by ruling of the Internal Revenue Service or by a decision of any Federal court, or
shall be declared taxable or be required to be taken into account in computing any Federal
income taxes, by the terms of any Federal income tax law enacted subsequent to the date of this
Notice of Sale and Bidding Instructions.
GENERAL
Financial Advisor's Right to Bid First Southwest Company, the City's Financial Advisor,
reserves the right to bid on the Bonds.
Blue Sky Laws ... By submission of his bid, the Purchaser represents that the sale of the Bonds
in states other than Texas will be made only pursuant to exemptions from registration or, where
necessary, the Purchaser will register the Bonds in accordance with the securities law of the
states in which the Bonds are offered or sold. The City agrees to cooperate with the Purchaser,
at the Purchaser's written request and expense, in registering the Bonds or obtaining an
exemption from registration in any state where such action is necessary.
Not an Offer to Sell ... This Notice of Sale does not alone constitute an offer to sell the
Bonds, but is merely notice of the sale of the Bonds. The offer to sell the Bonds is being made
by means of the Notice of Sale and Bidding Instructions, the Official Bid Form and the Official
Statement. Prospective purchasers are urged to carefully examine the Official Statement to
determine the investment quality of the Bonds.
Issuance of Additional Bonds ... The City does not have any plans to issue the remaining
12,010,000 authorized generaT obligation bonds at this time.
Ratings ... The outstanding General Obligation Bonds of the City are rated "Baa 1" by Moody's
Investors Service, Inc. and "BBB +" by Standard & Poor's Corporation. Applications for contract
ratings on this issue have been made to both Moody's and Standard & Poor's. The results of
their determinations will be provided as soon as possible.
The Official Statement .. The City will furnish to the Purchaser, without cost, 25 copies of
the Official Statement (and 25 copies of any addenda, supplement or amendment thereto), com-
plete except as to interest rates and other terms relating to the reoffering of the Bonds. The
Purchaser may arrange at his own expense to have the Official Statement reproduced and printed
if he requires more than 25 copies, and may also arrange, at his total expense and responsi-
bility, for completion and perfection of the first or cover page of the Official Statement so as
to reflect interest rates and other terms and information related to the reoffering of the
Bonds. The City assumes no responsibility or obligation for the distribution or delivery of
any of these copies to any one other than the Purchaser.
Additional Copies of Notice, Bid Form and Statement ... A limited number of additional copies
of this Notice of Sale and Bidding Instructions, the Official Bid Form and the Official
Statement, as available over and above the normal mailing, may be obtained at the offices of
First Southwest Company, Investment Bankers, 900 Mercantile Bank Building, Dallas, Texas 75201,
Financial Advisor to the City.
The City reserves the right to reject any and all bids and to waive irregularities, except time
of filing.
The City Council, by resolution adopted this 13th day of August, 1981, approved the farm and
content of the Notice of Sale and Bidding Instructions, the Official Bid Form and Official
Statement, and has authorized the use thereof in its initial offering of the Bonds. On the date
of the sale, the City Council will, in the Ordinance authorizing the issuance of the Bonds,
reconfirm its approval of the form and content of the Official Statement, and any addenda,
supplement or amendment thereto, and authorize its further use in the reoffering of the Bonds
by the Purchaser.
ATTEST:
JOANNE LAND
City Secretary
August 13, 1981
LARRY L. TONN
Mayor
OFFICIAL BID FORM
Honorable Mayor and City Council
City of Round Rock
Round Rock, Texas
Members of the Council:
Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated
August 13, 1981, of $820,000 CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1981 -C,
both of which constitute a part hereof.
For your legally issued Bonds, as described in said Notice of Sale and Bidding Instructions and
Official Statement, we will pay you par and accrued interest from date of issue to date of
delivery to us, plus a cash premium of $ for Bonds maturing and bearing interest
as follows:
Interest Interest Interest
Maturity Rate Maturity Rate Maturit/ Rate
8 -1 -1984 % 8 -1 -1989 % 8 -1 -1995 %
8 -1 -1985 % 8 -1 -1990 % 8 -1 -1996 %
8 -1 -1986 % 8 -1 -1991 % 8 -1 -1997 %
8 -1 -1987 % 8 -1 -1992 % 8 -1 -1998 %
8 -1 -1988 % 8 -1 -1993 % 8 -1 -1999 %
8 -1 -1994 %
Our calculation (which is not a part of this bid) of the interest cost from the above is:
Total Interest Cost $
Less Premium
NET INTEREST COST $
EFFECTIVE INTEREST RATE %
Check of the Bank, , in the amount
of $16,400.00, which represents our Good Faith Deposit (is attached hereto) or (has been made
available to you prior to the opening of this bid), and is submitted in accordance with the
terms as set forth in the Official Statement and Notice of Sale and Bidding Instructions.
We agree to accept delivery of and make payment for the Bonds at
Bank, Austin, Texas, not later than 10:00 AM, CDT, on October 13, 1981, or thereafter on the
date the Bonds are tendered for delivery, pursuant to the terms set forth in the Notice of Sale
and Bidding Instructions.
Respectfully submitted,
ATTEST:
City Secretary
By
ACCEPTANCE CLAUSE
The above and foregoing bid is hereby in all things accepted by the City of Round Rock, Texas,
this the 31st day of August, 1981.
........
Return of Good Faith Deposit is hereby acknowledged:
By
Authorized Representative
Mayor
August 31, 1981
OFFICIAL BID FORM
Honorable Mayor and City Council
City of Round Rock
Round Rock, Texas
Members of the Council:
Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated
August 13, 1981, of $820,000 CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1981 -C,
both of which constitute a part hereof.
For your legally issued Bonds, as described in said Notice of Sale and Bidding Instructions and
Official Statement, we will pay you par and accrued interest from date of issue to date of
delivery to us, plus a cash premium of $ for Bonds maturing and bearing interest
as follows:
Interest Interest Interest
Maturity Rate Maturity Rate Maturity Rate
8 -1 -1984 % 8 -1 -1989 % 8 -1 -1995 %
8 -1 -1985 % 8 -1 -1990 % 8 -1 -1996 %
8 -1 -1986 % 8 -1 -1991 % 8 -1 -1997 %
8 -1 -1987 % 8 -1 -1992 % 8 -1 -1998 %
8 -1 -1988 % 8 -1 -1993 % 8 -1 -1999 %
8 -1 -1994 %
Our calculation (which is not a part of this bid) of the interest cost from the above is:
Total Interest Cost
Less Premium
NET INTEREST COST
EFFECTIVE INTEREST RATE
Check of the Bank, , in the amount
of $16,400.00, which represents our Good Faith Deposit (is attached hereto) or (has been made
available to you prior to the opening of this bid), and is submitted in accordance with the
terms as set forth in the Official Statement and Notice of Sale and Bidding Instructions.
We agree to accept delivery of and make payment for the Bonds at
Bank, Austin, Texas, not later than 10:00 AM, CDT, on October 13, 1981, or thereafter on the
date the Bonds are tendered for delivery, pursuant to the terms set forth in the Notice of Sale
and Bidding Instructions.
Respectfully submitted,
By
ACCEPTANCE CLAUSE
The above and foregoing bid is hereby in all things accepted by the City of Round Rock, Texas,
this the 31st day of August, 1981.
ATTEST:
City Secretary
........
Return of Good Faith Deposit is hereby acknowledged:
By
Authorized Representative
Mayor
August 31, 1981
jurisdiction to any person to whom it is
other person has been authorized to
its Official Statement does not constitute an off to sell sands in any
rosencontan contained not be relied upon. The the lawful to make such offer in such jurisdiction. No dealer, salesman, or any
eve any information or make
ven or made,esuchainformation or a rep those tattainmu herein, in connection with the of a
f these Bonds, and if g create neither
implication that there has been no
le made hereunder shall, under any circumstances
nd expressions osa pinion herein are subject date hereofe without notice and neither the delivery of this Officio
statemeit nor any
:hange in the affairs of the city since tO FFICIAL STATEMENT
Dated August 13, 1981
INTEREST EXEMPT, IN THE OPINION OF BOND COUNSEL, FROM PRESENT FEDERAL INCOME
TAXES UNDER EXISTING STATUTES, REGULATIONS, RULINGS AND COURT DECISIONS
5820,000
CITY OF ROUND ROCK, TEXAS
(Williamson County)
GENERAL OBLIGATION BONDS, SERIES 1981 -C
Denomination: 55,000
Dated: October 1, 1981 able at
Principal and se 1 interest
Farmers State Bank, Round Rock, Texas, t) pay
or, at the option of the holder, at
First City Bank of Dallas, Dallas, Texas.
First interest coupon due February 1, 1983.V
Coupon bearer bands, not registrable.
These bonds (the "Bonds ") are the third installment of bonds authorized at an election held payable
September 6, 1980, and constitute direct and voted general obligations of the City, P
from an ad valorem tax levied, within the limits prescribed by law, on taxable property located
within the City.
MATURITY Yield
Amount Maturit Rate
Amount Maturit Rate Yield 3-60-,11-6 8_
X25,00 8_ _ 984
25,000 8-1-1985 50,000 B -L -1993 50,000 8 -1 -199
25,000 8 -1 -1987 50,000 8 -1 -1995
25,000 8-1-198 50,000 8 -1 -1996
25,000 8 -1 -1989
50,000 8-1-1989 75,000 8-1-1997* *
50,000 8 -1 -1991
50,000 8-1-199 1 75,000 150,000 8 -1 -1999*
-
* The City reserves the right,
at its option, to dee Bands aturin 1Au1996,1, 1997, through
997 interest
August 1, both inclusive, par vt, i whole any p
payment date to thereafter, at the par value a thereof plus accrued interest to the date fixed for
redemption.
Pa ent Record: The Cit has never defaulted
Le.alit Attorne General of the State of (Texas, and
xas.
Messrs. MnCaon1 rPinte. on & e Bons A ee Leea 11,inions.
Antici.ated on or about October 13, 1981.
Deliver
Official Statement:
TABLE OF CONTENTS
Page
Description of the Bonds 1
Elected Officials 3
Appointed Officials 3
Consultants and Advisors 3
Introductory Statement 4
Valuation and Debt Information 5
Ad Valorem Tax Legislation 6
Non-Funded Debt 7
Funded Debt Limitation 7
Valuation and Funded Debt History 7
Taxable Assessed Valuations by Category 8
Estimated Future Assessed Valuations 8
Estimated Overlapping Funded Debt Payable From Ad Valorem Taxes 9
Tax Rate Limitation 9
Tax Data 9
Municipal Sales Tax 10
Assessed Valuations and Tax Rates of Overlapping Taxing Jurisdictions 10
Top Ten Taxpayers 10
Proceeds 10
Debt Service Requirements 11
Tax Adequacy 12
Interest and Sinking Fund Management Index 12
Authorized General Obligation Bonds 12
Anticipated Issuance of Voted General Obligation Bonds 12
Computation of Self-Supporting Debt 12
Pension Fund 13
Condensed Statement of Operations - Waterworks and Sewer System 13
Coverage and Fund Balances 14
Waterworks System 14
Monthly Water Rates 15
Top Ten Water Customers 15
Sewerage System 16
Monthly Sewer Rates 16
General Information Regarding City and Its Economy 17/18
Ratings 19
Tax Exemption 19
Registration and Qualification of Bonds for Sale 19
Legal Investments in Texas 19
Legal Opinions and No-Litigation Certificate 19
Authenticity of Financial Information 20
Financial Advisor 20
Certification of the Official Statement 20
Audited Financial Statements, September 30, 1980, examined
by Gibson Johnson & Company, Certified Public Accountants Appendix
The cover page hereof, this page, the appendix included herein and any addenda, supplement or
amendment hereto, are part of the Official Statement.
City Council
Larry L. Tonn
Mayor
Auditors
Consulting Engineers
Bond Counsel
Financial Advisor
ELECTED OFFICIALS
Elected
or Term
Appointed Expires Occupation
April 191/ April 1984 Texas State Department of Human
Mike Robinson April 1978 April 1984 Self- employed, Plant Nursery
Mayor Pro -Tem
Graham Howell April 1980 April 1983 Savings and Loan Officer
Councilmember
Pete Correa April 1978 April 1982 Self - employed - Automotive Repairs
Councilmember
Joe Baker April 1980 April 1982 Civil Engineer
Councilmember
Trudy L. Lee September April 1983 School Teacher
Councilmember 1979
Mike Heiligenstein April 1981 April 1984 Developer
Councilmember
APPOINTED OFFICIALS
Resources
Length of
Employment
Name Position and Length of Time in Position with City
Robert L. "Bob" Bennett, Jr. City Manager for 2 1/2 Years 5 Years
Joanne Land City Secretary for 5 Years 10 1/2 Years
/ Sam Huey Director of Finance for 3 1/2 Years 3 1/2 Years
V �Z-' l ( k-s E 17, R c , ,2 ml: P w 1 'it_ yr,,e r
Stephan L. Sheets City Attorney for 4 Years 4 Years
Dusty Thames Tax Assessor - Collector for 6 Months 6 Months
CONSULTANTS AND ADVISORS
Gibson Johnson & Company
Austin, Texas
Haynie & Kallman, Inc.
Round Rock, Texas
McCall, Parkhurst & Horton
Dallas, Texas
First Southwest Company
Dallas, Texas
INTRODUCTORY STATEMENT
This Official Statement of the City of Round Rock, Texas, a political subdivision located in
Williamson County (the "City "), is provided to furnish information in connection with the sale
of the City's $820,000 General Obligation Bonds, Series 1981 -C (the "Bonds ").
The Official Statement was prepared to present for the purchaser of the Bonds information
concerning the Bonds, the revenues (ad valorem taxes) pledged to the Bonds, the description of
the revenue base, factors that may affect pledged revenues, and other pertinent data, all as
more fully described herein. See "Table of Contents ".
Source of Payment ... The Bonds are direct and voted general obligations payable out of the
receipts from an ad valorem tax levied, within the limits prescribed by law, on taxable
- property located within the City.
In each year, the City shall determine the specific amount of, and assess, a tax sufficient to
(1) pay current interest on the Bonds, and (2) create and provide a sinking fund of not less
than 2% of the principal amount of the Bonds or not less than the principal payable out of such
tax, whichever is greater, with full allowance being made for tax delinquencies and the cost of
the collections.
Purpose ... The proceeds from the sale of the $820,000 General Obligation Bonds, Series 1981 -C
will be used to fund the following projects:
Street Improvements, Curbs, Gutters
and Drainage
Fire Station and Equipment
Total Project Costs
Estimated Costs
$ 570,000
250,000
$ 820,000
Future Bond Issues ... After the issuance of the Bonds, the "ity will have $2,010,000 author-
ized general obligation bonds to be issued. The City does not have any plans to issue the
remaining authorized general obligation bonds.
Administration of the City ... The City operates under a Nome Rule Charter which was approved
by the electorate on August, 1977. The Charter provides for a Mayor - Council form of government
in which all powers of the City and determination of policy is vested. The Mayor - Council shall
appoint a City Manager who shall be responsible for the administration of the affairs of the
City.
VALUATION AND DEBT INFORMATION
1981 Estimated Taxable Assessed Valuation (100% of Market Valuation) 1
( ) $340,000,000
1980 Taxable Assessed Valuation (100% of Market Valuation)
$175,013,695
Less Exemptions at 100% of Market Valuation (2) (3):
Over 65 Homestead Exemptions $ 868,641
Disabled and Deceased Veterans 94,000
Agricultural Productivity Exemption
157,508 1,120,149
1980 Net Taxable Assessed Valuation (100% of Market Valuation)
$173,893,546
City Funded Debt Payable From Ad Valorem Taxes:
General Purpose Bonds (as of 7- 15 -81)
Waterworks and Sewer System Bonds (as of 7- 15 -81) $ 4,446,140
Combination Tax and Revenue Certificates 8,957,860
of Obligation (as of 7- 15 -81)
The Bonds, Series 1981 -C 290,000
820,000
Total General Obligation Debt
$ 14,514,000
Less Self- Supporting Debt:
Combination Tax and Revenue Certificates of Obligation $ 290,000
Waterworks and Sewer System General Obligation Bonds 2,409,664 2,699,664
Net Funded Debt Payable From Ad Valorem Taxes (4)
$ 11,814,336
Interest and Sinking Fund (as of 7- 15 -81)
$ 232,994
Ratio Net Funded Debt Pa om Ad Valorem Tares to 1980
Net Taxable Assesse 5
Va_Tuatuon __ — ____
Ra a un a Debt Payable From Ad Valorem Taxes to 1981
Estimated Taxable Assessed Valuation
g.2
1951 Estimated Population - 13,764*
1980 U.S. Census Population - 12,764
Per Capita 1980 Net Taxable Assessed Valuation - $12,633.94
Per Capita Net Funded Debt Payable From Ad Valorem Taxes - $858.35
Area - 9.21 Square Miles
* Source: Chamber of Cormnerce.t� \ , �p
(1) Increased projected assessed valuation is a result of a full revaluation program performed
this past summer.
(2) Pursuant to authority permitted by Section 1 -b, Article VIII of the State Constitution,
which became effective January 1, 1973, the City, beginning in 1975, has granted an exemption
of not less than $3,000 of Assessed Valuation to the residence homestead of property owners
over 65 years of age. The Net Taxable Assessed Valuation, as shown above, does not include
$868,641 Assessed Valuation of properties exempted under this authority.
(3) The Legislature, pursuant to a constitutional amendment and Article 7150h, VATCS, mandated
an additional property tax exemption, beginning in 1976, for disabled veterans or the surviving
spouse or children of a deceased veteran who died while on active duty in the armed forces. The
exemption from taxation applies to either real or personal property with the amount of Assessed
Valuation exempted ranging from $1,500 to $3,000, dependent upon the amount of disability or
whether the exemption is applicable to a surviving spouse or children. The Net Taxable
Assessed Valuation, as shown above, does not include $94,000 Assessed Valuation of properties
exempted under this authority.
(4) The above statement of indebtedness does not include $4,896,000 Waterworks and Sewer
System Revenue Bonds presently outstanding, as these bonds are payable solely from and secured
by a pledge of the net revenues of the System.
6.79% //
� 0U
AD VALOREM TAX LEGISLATION
The Texas Legislature passed two bills, which affect the way property is assessed and taxes are
collected in the City. H.B. 1060 implements the Texas Constitutional provisions of the "Tax
Relief Amendments ", and S.B. 611 created a new "Property Tax Code."
H.B. 1060 also provides, with certain exceptions, that intangible personal property is exempt
from ad valorem taxes levied by the City. Also exempt are household goods and personal effects.
Family -owned automobiles are exempt unless the City takes official action to tax them; the City
does not tax this property.
S.B. 621, creating a "Property Tax Code ", provided, among other things, for the establishment
of county -wide Appraisal Districts and for a State Property Tax Board with authority to adopt
- rules establishing minimum standards for administration and operation of Appraisal Districts
and county assessor /collector offices. The Board, appointed by the Governor, commenced opera-
tion on January 1, 1980. The Appraisal Districts for each county also commenced operation at
that time.
The Williamson County Appraisal District is governed by a board of five directors appointed by
votes of the governing bodies of Williamson County and the cities and school districts in the
Appraisal District, with votes allocated as provided by the statute.
Under the statute, all taxing entities in the State are required to assess on a basis of 100% of
appraised values beginning in 1981, however, the City of Round Rock commenced assessment at
100% of appraised values in 1979.
The statute does not require Appraisal Districts to assume their responsibility until 1982.
However, beginning in 1981 by agreement with the taxing entities in Williamson County, the
Williamson County Appraisal District will be responsible for the appraisal of all values in the
County. Parallel with this procedure, a reappraisal of all property in the County is being
developed with completion of the reappraisal scheduled for January 1, 1983.
The City of Round Rock in 1981 and the Williamson County Appraisal District thereafter are
required under the Property Tax Code to assess all property on the basis of 100% of its
appraised value and are prohibited from applying any assessment ratios. Values placed upon
property within the Appraisal District are subject to review by an Appraisal review Board,
consisting of three members appointed by the Board of Directors of the Appraisal District. The
Appraisal District is required to review the value of property within the Appraisal District
every five years. A taxing unit such as the City may require annual review at its own expense.
In addition, a taxing unit is entitled to challenge the determination of appraised value of
property within such taxing unit by petition filed with the Appraisal Review Board.
S.B. 621 also provides that, beginning in 1982, by each August 1, or as soon as possible
thereafter, the City must adopt a tax rate for the current year. If the effective tax rate,
excluding tax rates for bonds and other contractual obligations and adjusted for new improve-
ments, exceeds the rate for the previous year by more than 5 %, qualified voters of the City may
petition for an election to determine whether to limit the tax rate to no more than 5% above
that of the previous year.
In addition to providing for a new method of appraisal by the Appraisal District rather than by
the City, the Property Tax Code also provides that the Appraisal District can be required to
collect property taxes within the Appraisal District as well as appraising such property if
such collecting function is approved by the qualified voters in the Appraisal District after a
petition signed by at least 10% of the number of qualified voters, or 10,000 qualified voters,
whichever is less, has been presented to the Appraisal District.
r NON- FUNDED DEBT
(As of 7- 15 -81)
Note Payable Interest Monthly Outstanding
To For Rate Pa nt Balance
Nationwide Leasing Computer System 12.1% $� $26,988.99
Xerox Copier 8.0% 260.03 7,680.66
Bank of San Antonio Sanitation Truck 7.5% 480.00 10,011.53
Bank of San Antonio Sanitation Truck 7.5% 735.00 10,337.49
First National Bank,
Round Rock Sewer Machine 6.97% 297.58 2,421.29
IBM Typewriter 7.75% 22.00 231.00
TOTAL $57,670.96
FUNDED DEBT LIMITATION
There is no direct debt limitation in the City Charter or under State Law. The City operates
under a Home Rule Charter (Article XI, Section 5, Texas Constitution), approved by voters in
August, 1977, that limits the maximum tax rate, for all City purposes, to $2.50 per $100
Assessed Valuation. Administratively, the Attorney General of the State of Texas will permit
allocation of $1.50 of the $2.50 maximum tax rate for general obligation service. See "Tax
Adequacy ".
VALUATION AND FUNDED DEBT HISTORY
Ratio Funded
Funded Debt Debt to
Taxable Outstanding Taxable
Fiscal Assessed at End Assessed
Period Valuation of Year Valuation
1969 -70 $ 1,793,304 $ -0- -0-
1970-71 3,172,251* 50,000 1.58%
1971 -72 3,351,067 50,000 1.49%
1972 -73 3,866,766 47,000 1.22%
1973 -74 4,702,701 44,000 .94%
1974 -75 8,164,643 ** 494,000 6.05%
1975 -76 13,688,321* 486,000 3.55%
1976 -77 26,499,472* 473,000 1.78%
1977 -78 40,025,430 459,000 1.15%
1978 -79 56,876,557 2,395,000 4.21%
1979 -80 127,212,478* 5,025,000 3.95%
1980 -81 173,893,546 13,689,000 7.87%
1981 -82 340,000,000 ** 14,509,000 4.46%
* Increased basis of assessment as follows: 1970 -71 from 20% to 30 %; 1975 -76 from 30% to
40 %; 1976 -77 from 40% to 60 %; 1979 -80 from 60% to 100 %.
** Revaluation program.
�\ TAXABLE ASSESSED VALUATIONS BY CATEGORY
1 1980 -- % of 1979 % of 1978 %'of
Taxable Taxable Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed Assessed Assessed
Classification Valuation Valuation Valuation Valuation Valuation Valuation
Real Estate:
Land $ 31,447,936 18.00% $ 25,212,180 19.60% $11,346,559 19.73%
Improvements 111,849,332 63.91% 88,583,241 68.87% 36,807,005 64.01%
$143,347,268 81.91% $113,795,421 88.47% $48,153,564 83.74%
Personal Property 31,666,427 18.09% 14,826,547 11.53% 9,352,373 16.26%
Total Assessed
'" Valuation $175,013,695 100.00% $128,621,968 100.00% $57,505,937 100.00%
Less:
Over -65
Exemptions 868,641 1,312,490 555,880
Veterans
Exemptions 94,000 -0- -0-
Agricultural
Exemptions 157,508 97,000 72,500
Total Net
Taxable Assessed
Valuation
$173,893,546 51.27,212,478 $56,876,557
TAXABLE ASSESSED VALUATIONS BY CATEGORY - CONTINUED
1977 % of 1976 %.of
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Classification Valuation Valuation Valuation Valuation
Real Estate:
Land $ 8,442,705 20.76% $ 6,437,155 23.84%
Improvements 24,202,636 59.53% 15,576 ",688 57.69%
$ 32,645,341 80.29% $22,013,843 81.53%
Personal Property 8,015,279 19.71% 4,987,349 18.47%
Total Assessed
Valuation $ 40,660,620 100.00% $27,001,192 100.00%
Less:
Over -65
Exemptions 579,190 462,220
Veterans
Exemptions 56,000' 39;500
Tdtal Net
Taxable Assessed
Valuation
* Source: City Planning Department.
40,025,430 $26,499;472
ESTIMATED FUTURE ASSESSED VALUATIONS*
1981 $340,000,000
1982 385,000,000
1983 450,000,000
1984 $520,000,000
1985 595,000,000
1986 675,000,000
ESTIMATED OVERLAPPING FUNDED DEBT PAYABLE FROM AD VALOREM TAXES
(As of 7- 15 -81)
Estimated
Taxing Jurisdiction Total % Overlapping
City of Round Rock Funded Debt Applicable Funded Debt
Round Rock Independent School District $43,3,000 128.43% $12,332,934
Williamson County 43,388 28.43% 12,332,934
Brushy Creek Water Control and 0 20.32% 0_
Improvement District No. 1 6.48%
Total Overlapping Funded Debt
$26,846,934
Ratio Overlapping Funded Debt to 1980 Net Taxable Assessed Valuation
Ratio Overlapping Funded Debt to 1981 Estimated Taxable Assessed Valuation 17.90%
7.90%
Per Capita Overlapping Funded Debt - $1,950.52
TAX RATE LIMITATION
All taxable property within the City is subject to the assessment, levy and collection by the
City of a continuing, direct annual ad valorem tax sufficient to provide for the payment of
principal of and interest on the bonds within the limits prescribed by law. Article XI, Section
5, of the Texas Constitution is applicable to the City, and by Home Rule Charter its maximum ad
valorem tax rate is limited to $2.50 per $100 Assessed Valuation (for all City purposes).
TAX DATA
(Year Ending 9 -30)
Distribution
Tax Tax General Interest and % Current % Total
Year Rate Fund Sinking Fund Tax Levy Collections Collections
1970 -71 $1.25 $1.2500 $ -0 -* $ 39,653 80.91% 100.94%
1971 -72 1.25 1.2500 -0- 41,888 83.15%
1972 -73 1.25 1.2500 -0- 48,335 82.329 94.10%
1973 -74 1.25 1.2500 -0- 58,784 84.36% 98.95%
1974 -75 1.25 1.2500 -0- 102,058 79.33% 93.97%
1975 -76 1.25 1.2500 -0- 171,104 81.54% 93.22%
1976 -77 0.85 0.8500 -0- 225,246 94.01%
1977-78 0.85 0.8500 -0- 334,775 90.46% 92.408
1978 -79 0.85 0.7700 0.0800 480,013 93.27% 97.73%
1979 -80 0.70 0.5555 0.1445 871,347 94.90% 99.05%
1980 -81 0.77 0.6100 0.1600 1,338,980 93.12 % ** 94.36 % **
* All taxes, prior to the 1978 Tax Year were deposited to the General Fund and transfers were
made to the Interest and Sinking Fund, as needed.
** Collections for part year only, through 7- 15 -81.
Current collections represent collections to delinquent date only, except for the 1976 and 1977
Tax Year. Low collections for 1977 through 1979 are a result of the many home builders not
paying taxes on new homes, until the home is sold.
Property within the City is assessed as of January 1 of each year; taxes become due October 1 of
the same year, and become delinquent on February 1 of the following year. Split payments are
not permitted. Discounts are not allowed.
Charges for penalty and interest are made as follows: February - 1/2 %; March - 3 %; April -
4 1/2 %; May - 6 %; June - 7 1/2 %; July - 11 %; August - 11 1/2 %; September - 12 %; October -
12 1/2 %; November - 13 %; December - 13 1/2 %.
MUNICIPAL SALES TAX
(Effective 4 -1 -b8)
The City has adopted the provisions of Article 1066c, Vernon's Texas Civil Statutes, as
amended, which grants the City the power to impose and levy a 1% Local Sales and Use Tax within
the City, the proceeds being credited to the General Fund. Collections and enforcements are
effected through the offices of the Comptroller of Public Accounts, State of Texas, who remits
the proceeds of the tax, after deduction of a 2% service fee, to the City monthly. Revenue from
this source has been:
% Equivalent of
Calendar Total Ad Valorem Ad Valorem
Year Collected Tax Levy Tax Rate
1971 $ 17,721 42.33% $0.5292
1972 24,744 50.47% .6308
1973 30,249 51.46% .6430
1974 36,859 36.12% .4514
1975 47,912 28.80% .3500
1976 68,580 30.45% .2588
1977 105,635 31.05% .2639
1978 220,115 45.86% .3870
1479 359,758 41.299 .2828
1980 435,689 32.539 .2505
1981 525,000* N.A. .1615
* 12 months projected through 12- 31 -81.
ASSESSED VALUATIONS AND TAX RATES OF OVERLAPPING TAXING JURISDICTIONS
Taxing Jurisdiction
Williamson County
Round Rock Independent School District
Brushy Creek Water Control and Improvement District No. 1
Name of Taxpayer
McNeil Consumer Products Company
B -J Hughes, Incorporated
Nash - Phillips Copus
Farmers State Bank
Southwestern Bell Telephone Company
Sweet Publishing Company
Round Rock, Ltd.
Texas Power & Light Company
Bennett Barnes
Allied Development Company
Street Improvements, Curbs, Gutters,
and Drainage
Fire Station and Equipment
Total Project Costs
- 10 -
1980
Assessed
Valuation
$267,397,080
611,654,094
34,178,725
% of
Actual
31.25%
100.00%
25.00%
1980
Tax
Rate
$0.90
1.32
* The District has not levied a tax since the 1972 Tax Year. The Assessed Valuation shown
represents the District's 1972 valuation.
TOP TEN TAXPAYERS
1980 % of 1980
Net Taxable Net Taxable
Assessed Assessed
Nature of Property Valuation Valuation
Pharmaceutical Manufacturer $ 9,593,022 5.52%
Oil Field Tools 8,159,384 4.69%
Home Developers 4,012,138 2.31%
Bank 3,278,381 1.89%
Telephone Utility 3,140,420 1.81%
Publishing Company 2,307,294 1.33%
Home Developers 1,569,796 .90%
Electric Utility 1,399,030 .80%
Shopping Center 982,305 .56%
Home Developers 889,185 .51%
$35,330,955 20.32%
PROCEEDS
The proceeds from the sale of the $820,000 General Obligation Bonds, Series 1981 -C will be used
to fund the following project:
Estimated Costs
$ 570,000
250,000
$ 820,009
DEBT SERVICE REQUIREMENTS
Grand Total Less: Combi- L ess Sewer
Grand Total
Year ?n6s of Obl i ,L5
General nation Tax _
Ending Outstandin Oeht
Fiscal Obligation and Revenue System General Gen r l Debt Principal
The Bonds - Series 1981 -C Debt Certificates Obligation P
g-30 Prin 8
- g Re u9_ rte__ 49 o 44Y 25,827 851,299 573,763
920,00 Interest Tota
Total Principal $ 1 g ,69 176,6 $ 176 1,450,889 1
1 983 320,000 954,248 1,274,24 $
1984 377,000 904,98 1,316,5 $ 20,000 96,350 116,350 1,425,498 87 521,219 11.83%
4 25 ,261 867,821 532,416
,142 527,036
1985 412,000 874,4501 1,321,401 25,000 94,000 119,000 1,437,464 34,413 874,142 36
527,0
1986 447,000 874,401 1,321,401 25,000 91,063 116,063 1,437,464 35,882 919,682 532,481
1987 487,000 642,206 1,329.206 25,000 88,125 113,125 1,442,331 32,153 900,178 523,725.
1988 532,000 807,615 1,362,636 25,000 85,188 110,188 1,449,803 510,000
1990 592,000 770,636 1 377 301 50,000 76, 250 132,250 1,494,886, 39,328 942,319 532,481 33.58%
,, 923,077 523,725
1991 647,000 730,301 1,382,696 50,000 76,375 120,500 1,503,676 34,240 896,534 589,605
524,273 499
1992 fi92,000 6,000 83,433 1,405,433 50,000 58,75 58,750 108,750 114,625
1,503,196
1,514,183 34,240 888,684
514, 35,936 877,655 574,415
1993 822,000 527,413 1,414,513 50,000 912,125 595,228
1995 942,000 527,513 1,414,513 50,000 47,000 197,000 1,506,980 30,84 912,125
1995 942,000 467,980 1,409,980 50,000 946,359 587,281
1996 1,017,000 401,840 1,418,840 50,000 41,125 10,250 1,533,640 941,752 566,500 65.908
923,270 575,365
1998 1,142,000 331,390 1,397,197 75,000 35,250 101,438 1,533,640 616,118 575,365
780,300
1998 1,887,000 255,197 1,397,197 75,000 26,438 167,625 1,498,635 332,154 332,54 448,146 97.37%
448,146
1999 887,000 175,324 1,062,324 150,000 17,625 161,625 1,229.7 180,135
2000 672,000 108,300 780,300 527,825 14,715
2001 472,000 22,850 194,850 194,850 14,715 176,477
2
2002 178,000 22,850 194,850 190,375 24,600
2003 13,000 12,375 190,375 24,600 3,450
2004 23,000 1,450 24,600 3,450 3,300
2005 3,000 450 3,450 3,300 3,300 100.00%
2006 3,000 300 3,300 3,150
2007 3,000 150 3,150
$13,689,000 $12,442,715 $26,131,7 $ 820,000 $1,204,180 $2,024,18 $ 28,155,895 $418,598 $16,667,283 $ 11,070,01
Note: Interest on the Bonds has been calculated at the rate of 11.75% for purposes of illustration.
TAX ADEQUACY
1981 Estimated Taxable Assessed Valuation $340,000,000
All General Obligation Debt (including Series 1981 -C)
1982 Principal and Interest Requirements $ 1,449,698
$0.449 Tax Rate @ 95% Collection Produces $ 1,450,270
Average Annual Principal and Interest Requirements, 1982 -2007 $ 1,082,919
$0.336 Tax Rate @ 95% Collection Produces $ 1,085,280
General Purpose Debt (including Series 1981-C)
1982 Principal and Interest Requirements $ 537,406
$0.167 Tax Rate @ 95% Collection Produces $ 539,410
Average Annual Principal and Interest Requirements, 1982 -2007 $ 425,770
$0.132 Tax Rate @ 95% Collection Produces $ 426,360
INTEREST AND SINKING FUND MANAGEMENT INDEX
General Obligation Debt Service Requirements, Fiscal Year Ending 9 -30 -81 $258,060*
Interest and Sinking Fund, All General Obligation Issues, 9 -30 -80 $ -0-
1980 Interest and Sinking Fund Tax Levy @ 95% Collection 264,318 264,318
Estimated Surplus $ 6,258
* Less $21,533 payment on Combination Tax and Junior Lien" Revenue Certificates of Obligation
which are self- supporting.
AUTHORIZED GENERAL OBLIGATION BONDS
Amount Amount
Date Amount Heretofore Being Unissued
Purpose Authorized Authorized Issued Issued Balance
Streets and Right-of-Way 7272778 $ 2,775,000 $ 2,205,000 $ 570,000 $ -0-
Park 12 -2 -78 240,000 175,000 -0- 65,000
Fire Station 12 -2 -78 1,265,000 655,000 250,000 360,000
North Fork Project 9 -6 -80 10,000,000 8,415,000 -0- 1,585,000
$14,280,000 $11,430,000 $ 820,000 $2,010,000
ANTICIPATED ISSUANCE OF VOTED GENERAL OBLIGATION BONDS
The City does not have any plans to issue the remaining $2,010,000 authorized general
obligation bonds at this time.
COMPUTATION OF SELF - SUPPORTING DEBT
Net Revenue from the Waterworks and Sewer System,
Fiscal Year Ended 9 -30 -80 $692,135
Less: Revenue Bond Requirements, 1981 Fiscal Year 466,770
Balance Available for Other Purposes $225,365
Less: Combination Tax and Junior Lien Revenue Certificates of
Obligation Requirements, 1981 Fiscal Year 21,533
Balance Available for Other Purposes $203,832
Average Annual Requirements for System General Obligation
Tax Bonds, 1982 -2003 $757,604
Percentage of Combination Tax and Junior Lien Revenue
Certificates of Obligation, Self- Supporting 100.00%
Percentage of System General Obligation Tax Bonds Self - Supporting 26.90%
- 12 -
PENSION FUND
The City has one pension plan covering all of its employees with the Texas Municipal Retirement
System. On November 1, 1973, the City passed an ordinance which allowed employees to contri-
bute to the System 5.5% of their gross salary. The amount of the actual computed value of
vested benefits over the total of the pension fund at 9 -30 -80 for the System is not available.
CONDENSED STATEMENT OF OPERATIONS
WATERWORKS AND SEWER SYSTEM
(Extracted from City's Audited Financial Statements)
Period Ended 9 -30 -80 9- 30 -79* 9 -30 -78 9 -30 -77 9 -30 -76
INCOME
Water System
Water Collections $ 755,700 $514,604 $315,958 $214,364 $173,468
Water Taps 73,263 96,529 71,228 58,234 30,885
Reconnection Charges -0- -0- -0- 75 123
Sale of Material -0- -0- -0- 2,159 15
Utility Fund Reimbursement -0- -0- -0- -0- -0-
Brushy Bend Collections -0- -0- -0- 8,636 -0-
Miscellaneous 11,402 650 -0- 102 -0-
Total Water Income $ 840,365 $611,783 $387,186 $283,570 $204,491
Sewer System
Sewer Collections $ 238,027 $135,517 $ 85,812 $ 70,625 $ 48,169
Sewer Taps 84,243 94,789 46,699 38,635 18,223
Utility Fund Reimbursement -0- -0- -0- -0- -0-
Miscellaneous 5,526 216 -0- 15 40
Total Sewer Income $ 327,796 $230,522 $132,511 $109,275 $ 66,432
Total System Income 51,168,161 $842,305 $519,697 5392,845 $270,923
EXPENSES
Water System
Administrative $ 67,777 $ 50,748 $ 38,076 $ 23,697 $ 19,640
Water Department 214,021 174,861 130,032 61,032 49,314
Miscellaneous -0- 5,231 -0- 501 -0-
Total Water Expenses $ 281,798 $230,840 5168,108 $ 85,230 $ 68,954
Sewer System
Administrative $ 53,801 $ 25,381 $ 20,243 $ 7,545 $ 3,595
Sewer Department 140,427 87,456 69,129 56,192 29,588
Miscellaneous -0- 2,616 -0- -0- -0-
Total Sewer Expenses $ 194,228 $115,453 $ 89,372 $ 63,737 $ 33,183
Total System Expenses $ 476,026 5346,293 $257,480 $148,967 $102,137
NET INCOME AVAILABLE
FOR DEBT SERVICE $ 692,135 5496,012 $262,217 $243,878 $168,786
Water Customers 3,974 , 3,695 3,005 2,304 1,786
Sewer Customers 3,935 3,552 2,859 2,202 1,691
* Increased water and sewer rates, effective 12- 20 -78.
Note: Water collections for fiscal year 9 -30 -78 are inclusive of Brushy Bend collections and
represent a modified accrual statement. The City has since gone to a modified accrual method of
accounting. The water and sewer collections entry is inclusive of all additional revenues
received by that system. The 9 -30 -79 and 9 -30 -80 water collections are inclusive of reconnect
charges, sale of material, and Brushy Bend collections.
- 13 -
COVERAGE AND FUND BALANCES
Average Annual Principal and Interest Requirements, 1982 -2009 $ 369,322
Coverage of Average Requirements by 9 -30 -80 Net Income 1.87 Times
Waterworks and Sewer System Revenue Bonds Outstanding, 7 -15 -81 $4,896,000
Interest and Sinking Fund, 7 -15 -81 $ 388,940
Reserve Fund, 7 -15 -81 $ 171,236
Note: Requirements for issuance of additional bonds, as set forth in the outstanding Bond
Ordinances, state that average annual principal and interest requirements on the outstanding
bonds must be covered 1.50 times by net income, based on fiscal year ended 9 -30.
WATERWORKS SYSTEM
The Round Rock water system is divided into five (5) service levels. Level 1 -A serves customers
in the central portion of the City. Intermediate Level 1 -8 was created to meet increasing
residential and industrial demands in the northern portion. Level 2 was established to provide
for service extension to the West and Southwest. Level 3 was developed to serve industrial
facilities to the far North, primarily the Westinghouse plant. Level 4 is located to the
Southeast to serve current and future expansion in that direction. Besides providing service
to these areas, the City also sells water by contract to Williamson County Municipal Utility
District No. 2 and Brushy Bend Park. MUD #2 will serve approximately 750 acres and 800 homes
when fully developed.
Anticipated water supply requirements for the City are presented in Table I:
Table I
Water Supply Requirements (1980 -1986)
Peak Daily Usage
Population (3 Times Average Daily Usage)
Year Projection (MGD) (GPM
1581 15,328 6.90
1982 17,935 8.07 5,600
1983 20,981 9.44 6,560
1984 24,547 11.05 7,670
1985 28,720 12.92 8,975
1986 33,602 15.12 10,500
Source: City of Round Rock Planning Department.
At this time, water wells pumping from the Edwards Aquifer provide the only source of water for
the City. The only required treatment is gas chlorination prior to storage. Current pumping
capability of the City's wells is listed in Table No. II:
Well Location
Lake Creek
Lake Creek
Lake Creek
Lake Creek
Tower Drive
Westinghouse
Westinghouse
Brushy Creek
Spring Creek
Burnette
Austin Industries
Table II
Existing Water Wells
Pump Capacity
GPM MGO
- 14 -
250 0.360
1,250 1.800
1,200 1.728
3,000 0.432
300 0.432
300 0.432
100 0.144
1,400 1.106
1,400 2.016
750 1.080
300 0.432
These wells have a combined safe water pumping capability of 6,050 GPM, or 8.70 MGD.
The City has three ground storage tanks with a combined capacity of 1,750,000 gallons plus four
standpipes and an elevated tank with combined storage capacity of 2,310,000 gallons.
To meet increasing system demands, the City contracted with Brazos River Authority of Texas for
a surface water supply of 6.0 MGD, or 18.42 acre feet per day (average use) from recently
completed Lake Georgetown. The lake is located on the North Fork of the San Gabriel River 7
miles northwest of Round Rock. Construction has begun on the conveyance and treatment facili-
ties. Completion is expected in mid -1982.
Included in this project is additional ground storage capacity of 1,000,000 gallons.
In conjunction with current improvements, monthly water rates were revised. The previous and
current rates are presented below for comparison.
OLD MONTHLY WATER RATES
(Effective 12- 20 -78)
Residential and Commercial
First 3,000 gallons $4.00 (Minimum)
Over 3,000 gallons $1.00 /M gallons
All customers outside the City limits pay 2 times the inside City rate.
The City has a multi -year contract with Westinghouse to furnish treated water and sanitary
sewer service. The City increased Westinghouse's water rate from $1.08/M gallons to $1.43/M
gallons, effective 10- 31 -79. Sewer rates are the same as for an inside city limits commercial user.
All bills for water, sewer, and garbage collection are dated and mailed at such time as may be
directed by the City Manager, and payment for such bills is due on or before the 15th of each
month. Any bill not paid by the 15th of the month is considered past due and a penalty of $2.50
or 5 percent of the total amount due, whichever is more is assessed. If a bill continues to be
past due for a period of 30 days, the water is cut off and the meter removed.
The City's top ten water customers are as follows:
TOP TEN WATER CUSTOMERS
Total Gallons
Sold Per Year % of
Customer (000's) Water Sold
Westinghouse 151,450 4.10%
Round Rock High School 101,268 2.74%
McNeil Consumer Products Company 84,513 2.29%
Country Place Apartments 52,046 1.41%
Trinity Homes 37,895 1.03%
Sam Bass Apartments 35,835 .97%
Texas Baptist Childrens Home 29,031 .79%
Traveler Inn 19,374 .52%
Middle School 13,148 .36%
Texas Highway Department
(Roadside Park) 12,339 33%
536,899
Note: Total water billed was 369,676,500 gallons, for the 9 month period ended 6- 30 -81.
- 15 -
NEW MONTHLY WATER RATES
(Effective 3- 26 -81)
Residential and Commercial
First 3,000 gallons $4.00 (Minimum)
Next 17,000 gallons $1.00 /M gallons
Next 55,000 gallons $1.25/M gallons
Over 75,000 gallons $1.50 /M gallons
SEWERAGE SYSTEM
Construction of additional sewage treatment facilities has recently been completed, giving the
City a treatment capability of approximately 3.1 MGD. Current average daily flow is about 1.4
MGD. Effluent quality is within acceptable limits of a 10- 15 Texas Water Quality Board
Discharge Permit.
Sewage collection mains range in size from 6 to 15 inches in diameter. The system contains
eight (8) lift stations.
Average system flows are depicted in Table III:
Table III
Average Daily Sewage Flow
1968 124,000 gallons
1969 177,000 gallons
1970 186,000 gallons
197I 210,000 gallons
1972 220,000 gallons
1973 250,000 gallons
1974 295,000 gallons
1975 410,000 gallons
1976 580,000 gallons
1977 700,000 gallons
I978 1,200,000 gallons
1979 1,330,000 gallons
1980 1,400,000 gallons
OLD MONTHLY SEWER RATES
(Effective 12- 20 -78)
Inside City Limits Outside City Limits
Residential and Commercial Residential and Commercial
First 3,000 gallons $4.00 (Minimum)
Over 3,000 gallons 0.20 /M gallons*
First 3,000 gallons $8.00 (Minimum)
Over 3,000 gallons 0.20/M gallons*
* Monthly water consumption shall be based upon the average monthly water consumption for the
month of November, December, January, February and March of each year.
NEW MONTHLY SEWER RATES
(Effective 4 -9 -81)
Inside City Limits Outside City Limits
Residential and Commercial
First 3,000 gallons $5.00 (minimum)
Over 3,000 gallons 1.00 /M gallons*
- 16 -
Residential and Commercial
first 3,000 gallons $10.00 (Minimum)
Over 3,000 gallons 1.00 /M gallons*
* Monthly sewer use is based upon the average monthly water consumption for the months of
November, December, January, February and March of each year.
Table IV
Waterworks and Sewer System Statistical Data
Fiscal Year Ended 6- 30 -81* 9 -30 -80 9 -30 -79 9 -30 -78 9 -30 -77
Thousand Gallons of Water Billed 369,67/ 619,915 ** 648,561 541,021 497,910
Total Water Billings $419,650 $722,636 $456,797 $304,359 $214,364
Number of Water Billings - 38,247 45,322 39.,631 32,363 25,067
Average Monthly Water Bill $ 10.97 $ 15.94 $ 11.53 $ 9.40 $ 8.55
Total Sewer Billings $339,493 $227,689 $145,862 $ 85,812 $ 70,625
Number of Sewer Billings 37,938 45,024 38,909 30,647 23,865
Average Monthly Sewer Bill $ 8.94 $ 5.06 $ 3.75 $ 2.80 $ 2.96
* Nine months ending 6- 30 -81.
** Decrease in water billed due to mandatory water conservation program implemented by the City
Council to curb water usage during the summer months.
GENERAL INFORMATION REGARDING CITY AND ITS ECONOMY
LOCATION
The City of Round Rock is located in Williamson County, 15 miles north of Austin and 85 miles
south of Waco on Interstate Highway 35. The City is also situated on U. S. Highway 79 which
runs east and west. Both U. 5. Highway 79 and Interstate Highway 35 are main arteries of
traffic in the State.
ECONOMY
Due to its enviable location and proximity to Austin, the City of Round Rock is diversified with
industry, business, professional, farming and ranching economy. The City is being marked as
one of the fastest growing cities in the State and can only prosper from this tremendous
economic growth.
CITY GOVERNMENT AND COMMUNITY SERVICES
The City is a Council- Manager form of government with a Mayor and seven councilmen. A full -time
fire department consisting of 31 members and 8 vehicles, a police staff of 12 and 5 vehicles,
eight parks and two recently built swimming pools are all available to the community. The Round
Rock Leader, a weekly paper, two Austin daily papers and a public library with 11,000 volumes
are just a few of the many community services offered to the citizens of Round Rock.
FINANCIAL INSTITUTIONS
The City has access to two banks and three major savings and loan associations which have at
this time total deposits of approximately $63 and $25 million, respectively. Other banking
institutions are easily accessible in nearby Austin.
UTILITIES
The City is served by Southwestern Bell Telephone Company, Texas Power & Light Company and Lone
Star Gas Company. Water and sewer facilities are furnished by the City.
TRANSPORTATION
The City is within easy access to the Austin Municipal Airport and also Tim's Airpark, a private
airport located near the City. Two major railroads, two motor freight lines and three bus lines
serve the City on routinely scheduled intervals.
EDUCATIONAL FACILITIES
The City of Round Rock is located entirely within one of the fastest growing school districts in
the State, Round Rock Independent School District. The District is comprised of 110 square
miles with a current 1980 Assessed Valuation of $611,654,094. The district maintains nine
elementary, two middle and two senior high schools. Budget for the current year is $35,256,688
with a scholastic enrollment of 10,200.
Assessed Value
Total Real Property
Year Enrollment (000's
T 7 $ 2/,71
1971 2,200 27,922
1972 2,646 34,749
1973 3,400 53,000
1974 4,500 111,000
1975 5,483 125,000
1976 7,000 152,000
1977 7,500 196,400
1978 8,300 276,530
1979 9,100 533,222
1980 10,200 611,654
- 17 -
The City is within 90 miles of six of the major universities in the State, including the
University of Texas at Austin, just 15 miles away. Southwestern University is located eight
miles north in the City of Georgetown.
CITY GROWTH STATISTICS
Electric Building Sales Tax Bank
Year Population Meters Permits Receipts Deposits
1970 2,811 917 $ 1,708 $ 15,404 5 6,076,006
1971 3,060 985 2,147 17,721 8,189,000
1972 3,310 1,110 5,365 24,744 12,168,000
1973 3,560 1,251 9,509 30,249 16,736,000
1974 3,860 1,284 13,244 36,859 20,588,000
1975 5,000 1,693 16,118 47,912 22,838,000
1976 6,176 2,088 42,680 68,580 29,857,000
1977 8,500 4,548 88,447 105,635 35,567,462
1978 11,005 4,928 141,295 220,115 41,989,936
1979 12,500 5,343 104,184 359,758 54,916,774
1980 12,764 5,761 84,832 435,689 78,191,201
1981* 13,764 6,010 70,190 306,191 91,291,002
* As of 6- 30 -81.
AREA EMPLOYERS
Major employers in the area include the following: Austin White Lime; Eagle Signal Corpora-
tion; IBM Corporation; Motorola Corporation; Preferred Stamping Company; Sweet Publishing
Company; Texas Crushed Stone; Texas Instruments; Westinghouse Heavy Motor Division; B -J Hughes,
Incorporated; McNeil Consumer Products Company; and MKM Corporation. Tellabs, Burroughs and
Abbott Laboratories, three major corporations, have acquired plant sites in and around the City
and will begin construction in the very near future.
RECREATION
Lake Travis, together with a number of other major lakes and parks, is in the near vicinity to
add recreational dimension to the area. The hunting of deer, quail and mourning doves can also
be enjoyed throughout this area.
Source: All of the information contained in this General Information Regarding the City and
Its Economy has been compiled from material supplied by the Round Rock Chamber of Commerce.
- 18 -
RATINGS
Applications for contract ratings on this issue have been made to Moody's Investors Service,
Inc. and Standard & Poor's Corporation. An explanation of the significance of such ratings may
be obtained from the company furnishing the rating. The ratings reflect only the respective
views of such organizations and the City makes no representation as to the appropriateness of
the ratings. There is no assurance that such ratings will continue for any given period of time
or that they will not be revised downward or withdrawn entirely by either or both of such rating
companies, if in the judgment of either or both companies, circumstances so warrant. Any such
downward revision or withdrawal of such ratings, or either of them, may have an adverse effect
on the market price of the Bonds.
TAX EXEMPTION
The delivery of the Bonds is subject to an opinion of Messrs. McCall, Parkhurst & Horton, Bond
Counsel to the City ( "Bond Counsel "), to the effect that interest on the Bonds is exempt from
all present Federal income taxes under existing statutes, rulings, regulations and court
decisions. The laws, regulations, court decisions and administrative regulations and rulings
upon which the conclusion stated in Bond Counsel's opinion will be based are subject to change
by the Congress, the Treasury Department and later judicial and administrative decisions.
REGISTRATION AND QUALIFICATION OF BONDS FOR SALE
The sale of the Bonds has not been registered under the Federal Securities Act of 1933, as
amended, in reliance upon the exemption provided thereunder by Section 3(a) (2); and the Bonds
have not been qualified under the Securities Act of Texas in reliance upon various exemptions
contained therein; nor have the Bonds been qualified under the securities acts of any jurisdic-
tion. The City assumes no responsibility for qualification of the Bonds under the securities
laws of any jurisdiction in which the Bonds may be sold, assigned, pledged, hypothecated or
otherwise transferred. This disclaimer of responsibility for qualification for sale or other
disposition of the Bonds shall not be construed as an interpretation of any kind with regard to
the availability of any exemption from securities registration provisions.
LEGAL INVESTMENTS IN TEXAS
The Bonds are legal investments for sinking funds of Texas counties, cities and towns. They are
eligible to secure Texas state, county, city and school district funds and constitute legal
investments for insurance companies in the State of Texas. No review has been made of the laws
of states other than Texas to determine whether the Bonds are legal investments for various
institutions in those states.
LEGAL OPINIONS AND NO- LITIGATION CERTIFICATE
The City will furnish a complete transcript of proceedings had incident to the authorization
and issuance of the Bonds, including the unqualified approving legal opinion of the Attorney
General of the State of Texas, to the effect that the Bonds are valid and legally binding
obligations of the City, and based upon examination of such transcript of proceedings, the
unqualified approving legal opinion of Bond Counsel, to like effect and to the effect that the
interest on the Bonds is exempt from Federal income taxation under existing statutes, regula-
tions, rulings and court decisions. The customary closing papers, including a certificate to
the effect that no litigation of any nature has been,filed or is then pending to restrain the
issuance and delivery of the Bonds, or which would affect the provision made for their payment
or security, or in any manner questioning the validity of said Bonds or the coupons appertain-
ing thereto, will also be furnished. Bond Counsel was not requested to participate, and did not
take part, in the preparation of the Notice of Sale and Bidding Instructions, the Official Bid
Form and the Official Statement, and such firm has not assumed any responsibility with respect
thereto or undertaken independently to verify any of the information contained therein, except
that, in its capacity as Bond Counsel, such firm has reviewed the information describing the
Bonds in the Official Statement to verify that such description conforms to the provisions of
the bond ordinance. The legal fees to be paid Bond Counsel for services rendered in connection
with the issuance of the Bonds are contingent on the sale and delivery of the Bonds. The legal
opinion will be printed on the Bonds.
- 19 -
AUTHENTICITY OF FINANCIAL INFORMATION
The financial data and other information contained herein have been obtained from the City's
records, audited financial statements and other sources which are believed to be reliable.
There is no guarantee that any of the assumptions or estimates contained herein will be
realized. All of the summaries of the statutes, documents and resolutions contained in this
Official Statement are made subject to all of the provisions of such statutes, documents and
resolutions. These summaries do not purport to be complete statements of such provisions and
reference is made to such documents for further information. Reference is made to original
documents in all respects.
FINANCIAL ADVISOR
First Southwest Company is employed as Financial Advisor to the City in connection with the
issuance of the Bonds. The Financial Advisor's fee for services rendered with respect to the
sale of the Bonds is contingent upon the issuance and delivery of the Bonds. First Southwest
Company may submit a bid for the Bonds, either independently or as a member of a syndicate
organized to submit a bid for the Bonds.
CERTIFICATION OF THE OFFICIAL STATEMENT
At the time of payment for and delivery of the Bonds, the Purchaser will be furnished a
certificate, executed by proper officers, acting in their official capacity, to the effect that
to the best of their knowledge and belief: (a) the descriptions and statements of or pertain-
ing to the City contained in its Official Statement, and any addenda, supplement or amendment
thereto, on the date of such Official Statement, on the date of sale of said Bonds and the
acceptance of the best bid therefor, and on the date of the delivery, were and are true and
correct in all material respects; (b) insofar as the City and its affairs, including its
financial affairs, are concerned, such Official Statement did not and does not contain an
untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading; (c) insofar as the descriptions and statements, includ-
ing financial data, of or pertaining to entities, other than the City, and their activities
contained in such Official Statement are concerned, such statements and data have been obtained
from sources which the City believes to be reliable and that the City has no reason to believe
that they are untrue in any material respect; and (d) there has been no material adverse
change in the financial condition of the City since the date of the last audited financial
statements of the City.
The City will furnish the Purchaser, as a part of the transcript of proceedings, a certified
copy of a resolution of the City as of the date of the sale of the Bonds which will approve the
form and content of this Official Statement, and any addenda, supplement or amendment thereto,
and authorize its further use in the reoffering of the Bonds by the Purchaser.
LARRY L. TONN
Mayor
ATTEST:
JOANNE LAND
City Secretary
-20-
APPENDIX
The information contained in this Appendix has been reproduced
from the City of Round Rock, Texas Annual Audit Report for the
Fiscal Year Ended September 30, 1980. The information pre-
sented represents only a part of the Annual Audit Report and
does not purport to be a complete statement of the City's
financial condition. Reference is made to the complete Annual
Audit Report for further information.
FRANK A GIBSON C.P.A
MORRIS D JOHNSON. CPA
BENTON E. RYON. C.P.A.
RICHARD R. SINGHAUS. C PA
M HOWARD FASKE. CPA.
LARRY W. LAY. C P.A.
CHARLES R. LOEFFLER C P A
FRANK L. MELVIN. C PA
JAMES M NEELY. JR
EDWARD L. RANDLE
Honorable Mayor and
Members of the City Council
City of Round Rock
Round Rock, Texas
GIBSON JOHNSON & GO.
CERTIFIED PUBLIC ACCOUNTANTS
4200 NORTH LAMAR
PO. BOX 4486
AUSTIN. TEXAS 78765
1512) 454 -5793
We have examined the financial statements of the various funds and account groups
of the City of Round Rock for the year ended September 30, 1980 as listed in the
accompanying table of contents. Our examination was made in accordance with
generally accepted auditing standards and accordingly included such tests of the
accounting records and such other auditing procedures as we considered necessary in the
circumstances.
The scope of our examination did not include examination of fixed assets, utility
plant in service, retained earnings or fund balances prior to September 30, 1977, as
explained in Note 1, and we express no opinion on their fairness.
In our opinion, except as explained in the preceding paragraph, the financial
statements listed in the accompanying table of contents present fairly the financial
position of the City of Round Rock at September 30, 1980, and the results of its
operations and changes in its financial position for the year then ended in conformity
with generally accepted accounting principles.
The supplemental information listed in the accompanying table of contents is not
necessary for a fair presentation of the financial statements of the City. However, this
information has been subjected to the audit procedures applied in the examination of the
basic financial statements. In our opinion, except as explained in the second paragraph,
the accompanying supplemental information is fairly stated in all material respects in
relation to the financial statements taken as a whole.
Austin, Texas
December 16, 1980
CITY OF ROUND ROCK
COMBINED BALANCE SHEET - ALL FUNDS
SEPTEMBER 30, 1980
Trust &
Agency Enterprise
General Government - Fund Fund
Special Debt Capital General General Fireman's
General Revenue Service Projects Fixed Long -term Pension Utility
Fund Fund Fund Fund Assets Debt Fund Fund
ASSETS AND OTHER DEBITS
Cash $ 96,082 $ 7,086 $ $ 29,373 $ $ $373 $ 72,255
Certificates of deposit 119,590 186,000 50,000
Savings accounts 11,999 13,947 62,486
Accounts receivable (net) 56,193 28,492 46,423 91,003
Due from other funds 63,090 5,160 10,724 10,279
Prepaid expenses 7,516
Accrued interest receivable 2,276 328 8,071
Supplies inventory 5,987
Restricted assets
Cash and savings 95,763
Investments 1,693,240
Land 946,600 253,800
Buildings 471,321 268,726
Improvements other than buildings 7,547,794 3,393,678
Machinery and equipment 635,000 293,990
Construction in process 2,288,033 672,583
Accumulated depreciation - (565,151)
Amount to be provided for retirement of debt - - 3,119,442
Total assets and other debits $344,747 $52,737 $ -0- $. 286,795 $11 ,888,748 $3,119,442 $373 $6,406,710
LIABILITIES
Accounts payable and accrued expenses $ 84,061 $ 3,079 $ $ 93,115 $ $ $ $ 309,086
Due to other funds 10,115 5,242 16,048 57,848
Bonds payable 3,025,000 5,239,000
Notes payable 94,442 5,257
Customer deposits 68,714
Reserve for expenditures 171,365
Total liabilities 94,176 8,321 280,528 3,119,442 5,679,905
RESERVES AND FUND BALANCE /RETAINED EARNINGS
Reserve for revenue bond retirement 157,482
Investment in general fixed assets 11,888,748
Fund balance 250,571 44,416 6,267 - 373
Retained earnings (deficit) - 569,323
Total liabilities, reserves,
fund balance /retained earnings $344,747 $52,737 $ -0- $ 286,795 $11,888,748 $3,119,442 $373 $6,406,710
The accompanying notes are an integral
part of these financial statements.
CITY OF ROUND ROCK
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 1980
Interest
Rate
Certificates of Deposit ( %) Amount
General Fund
CD 1/816 First National Bank, Round Rock 9.1 $ 102,275
CD #853 First National Bank, Round Rock 8.0 12,930
115,205 I
I
Utility Fund
CD # 858 First National Bank, Round Rock
CD # 10441 First National Bank, Round Rock
CD // 10553 First National Bank, Round Rock
CD /1 852 First National Bank, Round Rock
CD # 842 First National Bank, Round Rock
CD // 860 First National Bank, Round Rock
CD # 850 First National Bank, Round Rock
CD # 10563 First National Bank, Round Rock
Capital Projects Fund
CD /1 851 First National Bank, Round Rock
CD // 859 First National Bank, Round Rock
The accompanying notes are an integral
part of these financial statements.
-3-
8.0 50,000
10.5 19,818
11.12 50,000
8.0 41,000
9.1 450,000
8.6 742,000
8.6 340,422
11.07 50.00.0
1,743,240
8.0 40,000
8.6 146.000
186,000
Total investments $2,044,445
CITY OF ROUND ROCK
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS - ALL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Fund
Balance Balance
9 -30 -79 Receipts Disbursements 9 -30 -80
General $ 81,607 $4,923,956 $4,909,481 $ 96,082
Special revenue 190 155,065 148,169 7,086
Debt service 273 293,471 293,744 -0-
Capital projects 13,059 5,808,612 5,792,298 29,373
Utility 133,340 9,037,771 9,020,250 150,861
Fireman's Pension Fund 354 19 373
Total - all funds
$228,823 $20,218,894 $20,163,942 $283,775
The accompanying notes are an integral
part of these financial statements.
-8-
CITY OF ROUND ROCK
COMBINED STATEMENT OF REVENUE AND EXPENDITURES
ALL FUNDS
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Fund Balance Revenues Expenditures Fund Balance
September 30, and other and other September 30,
1979 Additions Deductions 1980
General Fund $197,674 $2,286,015 $2,233,118 $250,571
Special Revenue Fund 14,047 117,832 87,463 44,416
Debt Service Fund 273 238,348 238,621 -0-
Capital Projects Fund -0-- 1,611,211 1,604,944 6,267
Fireman's Pension Fund 354 19 -0- 373
Utility Fund 415,465 1,259,118. 1,105,260 569,323
Total all funds $627,813 $5,512,543 $5,269,406 $870,950
The accompanying notes are an integral
part of these financial statements.
- 9 -
CITY OF ROUND ROCK
GENERAL FUND
BALANCE SHEET
SEPTEMBER 30, 1980
ASSETS
Cash $ 96,082
Investments in certificates of deposits and savings 119,590
Accounts receivable (net of $4,850 estimated uncollectible) 56,193
Accrued interest receivable 2,2
Due from other funds
Utility fund 57,848
Special revenue fund 5,242
Prepaid expenses 7,516
Total assets $344,747
LIABILITIES AND FUND BALANCE
Accounts payable $ 44,430
Accrued salaries and wages 39,631
Due to other fund 10,115
Total liabilities 94,176
Fund balance 250,571
Total liabilities and fund balance $344,747
The accompanying notes are an integral
part of these financial statements.
- 10 -
Actual Budget
Revenue
Taxes $1,309,413 $1,297,275
Licenses and permits 88,463 92,900
Charges for services 272,074 255,712
Fines 84,651 68,800
Grants and contributions 127,874 126,142
Other income 101,720 53,450
Total revenue 1,984,195 1,894,279
Expenditures
General government
Public safety
Public health
Public works
Culture and recreation
CITY OF ROUND ROCK
GENERAL FUND
STATEMENT OF REVENUE AND EXPENDITURES
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Total expenditures
Interfund transfers
Transfers from Utility Fund
Transfers to Debt Service Fund
Transfers from other funds
Net transfers from other funds
Excess of revenue over expenditures and
fund transfers
Fund balance September 30, 1979
Adjustment to fund balance (Note 3)
Fund balance September 30, 1980
The accompanying notes are an integral
part of these financial statements.
613,067
497,308
227,357
403,797
196,847
1,938,376 1,864,601
233,400
(225,206)
23.113
552,266
485,729
212,051
423,207
191,348
233,400
(224,890)
31,307 8,510
77,126 38,188
197,674 197,674
(24,229)
250,571 $ 235,862
Taxes
General. property taxes
Penalty and interest
City sales tax
Motel tax
Total. taxes
Fines and forfeitures
Grants and contributions
Gross receipts - utilities
State grants
CITY OF ROUND ROCK
GENERAL FUND
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1980
The accompanying notes are an integral
part of these financial statements.
- 12 -
Actual Budget
$ 863,951
7,199
434,464
3,799.
1,309,413
$ 887,850
6,225
400,000
3,200
1,297,275
Licenses and permits
Building permits 84,832 85,000
Other 3,631 7,900
Total licenses and permits 88,463 92,900
Charges for services
Trash collection 243,451 230,000
Rural fire fees 2,062 2,062
Swimming pool receipts 13,481 10,000
Recreation programs 11,633 12,000
Filing fees 1,076 1,300
Other 371 350
272,074 255,712
84,651 68,800
115,652 115,342
12 222 10,800
127,874 126,142
Other income
Interest income 23,923 17,000
Insurance proceeds 11,378
Rental income 7,960 8,500
Reimbursements 8,978 8,200
Contributions 7,277
Miscellaneous 42,204 19,750
101,720 53,450
Total revenue $1,984,195 $1,894,279
Public Health
Health and sanitation
General Government
Mayor and city council $ 6,342 $ 5,930
City Manager 35,726 35,258
City secretary 37,005 35,773
Judicial 56,150 47,995
Planning and community development 75,425 77,902
Custodian 1,345 -0-
Inspection 44,158 43,380
Finance 60,832 58,425
City Hall 32,852 21,602
City Shop 68,090 68,875
Miscellaneous control
Tax collection expense 46,075 46,000
Insurance 60,044 37,300
Contingency 28,378 20,000
Other expenses 60,645 53,826
Total general government 613,067 552,266
Public Safety
Public safety control
Fire department
Fire marshall
CITY OF ROUND ROCK
GENERAL FUND
SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Total public safety
Public works
Public works control 84,846 80,480
Streets 318,951 342,727
Total public works 403,797 423,207
Culture and recreation
Library 34,604 34,628
Park maintenance 118,978 107,225
Parks recreation 43,265 49,495
Total culture and recreation 196,847 191,348
Total expenditures $1,938,376 $1,864,601
The accompanying notes are an integral
part of these financial statements.
- 13 -
Actual Budget
321,817 308,086
155,351 159,557
20,140 18,086
497,308 485,729
227,357 212,051
CITY OF ROUND ROCK
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTIONS AND ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Function and Activity
General General
Fixed Assets Fixed Assets
10 -1 -79 Additions Deductions 9 -30 -80
General Government:
Administration $ 18,639 $ $ $ 18,639
Finance 98,809 98,809
Planning and zoning 4,570. 4,570
General government 110,266 277,977 388,743
Total general government 232 284 277,977 510,261
Public Safety
Fire protection 123,691 7,351 131,042
Police protection 183,115 2,907 186,022
Inspection 13,230 5,184 18,414
City shop 7, &65 3,206 11,071
Total public saftey 327,901 18,648 346,549
Streets 6,756,583 117,066 6,873,649
Public health 129,195 48,928 178,123
Parks and recreation 1,279,553 365,514 1,645,067
Library 24,176 22,890 47,066
Construction in progress 895,399 1,433,579 40,945 2,288,033
Total general fixed assets $9,645,09.1 $2,284,602 $40,945 $11,888,748
The accompanying notes are an integral
part of these financial statements.
-19-
CITY OF ROUND ROCK
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Improvements
Other Than Construction
Total Land Buildings Buildings Equipment in Progress
General fixed assets - September 30, 1979 $ 9,645,091 $829,500 $234,167 $7,144,587 $541,438 $ 895,399
Add:
Federal grants
60,196 20,741 29,508 9,947
Capital Projects Fund 1,745,037 54,100 216,413 40,945 1,433,579
Expenditures by General Fund revei:ues 167,369 83,754 83,615
Donations 312,000 63,000 249,000
Total additions 2,284,602 117,100 237,154 403,207 93,562 1,433,579
Deduct: (40,945)
Completed construction projects (40,945)
General fixed assets - September 30, 1980 $11,888,748 $946,600 $471,321 $7,547,794 $635,000 $2,288,033
The accompanying notes are an integral
part of these financial statements.
- 20 -
General obligation bonds payable
Certificates of obligation payable
Notes payable
CITY OF ROUND ROCK
STATEMENT OF GENERAL LONG -TERM DEBT
SEPTEMBER 30, 1980
AMOUNT AVAILABLE AND TO BE PROVIDED
FOR THE PAYMENT OF GENERAL LONG -TERM DEBT
General obligation bonds and certificates of obligation
Amount available in Debt Service Fund $ -0-
Amount to be provided 3,025,000
Notes payable
Amount,, to be provided 94,442
Total available and to be provided $3,119,442
GENERAL LONG -TERM DEBT PAYABLE
Total general long -term debt payable $3,119,44.2.
The accompanying notes are an integral
part of these financial statements.
- 21 -
$2,661,000
364,000
94,442
Current assets
Cash
Certificates of deposits
Time deposits
Accounts receivable
Accrued interest receivable
Supplies
Due from other funds
ASSETS
Restricted assets
Revenue bond debt service - cash
Revenue bond reserve
Cash
Investment in certificates of deposit
Revenue bond construction
Cash
Investment in certificate of deposit
Savings
Customer deposits - cash
Total restricted assets
Utility plant in service
Land
Buildings
Improvements other than buildings
Machinery and equipment
Less allowance for depreciation
Construction in progress
Total utility plant in service
Total assets
CITY OF ROUND ROCK
UTILITY FUND
BALANCE SHEET
SEPTEMBER 30, 1980
$ 72,255
50,000
62,486
91,003
8,071
5,987
10,279
300,081
32,671
4,993
119,818
40,162
1,573,422
17,157
780
1,789,003
253,800
268,726
3,393,678
293,990
4,210,194
(565,151)
3,645,043
672,583
4,317,626
$6,406,710
The accompanying notes are an integral
part of these financial statements.
- 24 -
LIABILITIES, RESERVES, AND RETAINED EARNINGS
Current liabilities - payable from current
assets
Accounts payable
Accrued expenses
Due to General Fund
Total current liabilities - unrestricted
Current liabilities - payable from restricted
assets
Current maturities of bonds payable
Current maturities of notes payable
Accrued interest payable
Accounts payable
Due to General Fund
Total current liabilities - restricted
Other liabilities (net of current maturities)
Revenue bonds payable
Customer deposits
Total other liabilities
Total liabilities
Reserve for revenue bond retirement
Retained earnings
Total liabilities, reserves and retained
earnings
31,459
4,587
50,652
86,698
53,000
5,257
58,870
214,170
7,196
338,493
5,186,000
68,714
5,254,714
5,679,905
157,482
569,323
$6,406,7
Add: non- operating income
Interest income
Operating revenue
Water sales
Sewer service charges
Tap fees
Other income
Total operating revenue
Less: operating expenses before depreciation
Administration
Personnel services
Contracted services
Materials and supplies
Other expenses
Plant operations
Personnel ser vices
Contracted services
Materials and supplies
Other expenses
Less: non- operating expenses
Interest expense
Transfers to General Fund
CITY OF ROUND ROCK
UTILITY FUND
STATEMENT OF REVENUE AND EXPENSES
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Total operating deductions
before depreciation
Net operating income before depreciation
Less: depreciation
Net operating income
Total non - operating expense
The accompanying notes are an integral
part of these financial statements.
- 25 -
Actual Budget
$ 755,700 $ 649,162
238,027 220,000
157,506 155,883
16,928 1,500
1,168,161 1,026,545
59,022
31,860
12,636
17,158
120,676
164,412
115,761
67,962
7,215
59,236
26,215
10,850
12,590
108,891
159,976
82,500
74,281
12,135
355,350 328,892
476,026 437,783
692,135 588,762
116,743
575,392 588,762
90,957 2,000
226,371 225,982
233,400 233,400
459,771 459,382
Net income to retained earnings $ 206,578 $ 131,380
CITY OF ROUND ROCK
UTILITY FUND
STATEMENT OF SOURCES AND APPLICATIONS OF CASH
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Cash funds were provided by:
Net operating income before depreciation $ 692,135
Non operating income 90,957
Proceedes from bond issues 1,925,000
Customer utility deposits 23,229
Increase in accounts payable and accrued expenses 200,594
Total cash funds provided 2,931,915
Cash funds were applied to:
Non operating expenditures 459,771
Additions to utility plant in service 952,169
Principal reductions of bonds payable 47,000
Principal reductions of notes payable 7,028
Increase in investments 1,395,384
Increase in receivables 49,959
Net advances to other funds 3,083
Total cash funds applied 2,914,394
Increase in cash funds 17,521
Cash balance September 30, 1979 133,340
Cash balance September 30, 1980 $ 150,861
The accompanying notes are an integral
part of these financial statements.
- 26 -
CITY OF ROUND ROCK
UTILITY FUND
SCHEDULE OF FIXED ASSETS AND DEPRECIATION
FOR THE YEAR ENDED SEPTEMBER 30, 1980
Assets Allowance for Depreciation
Balances- Balances- Balances- Balances- Net
Beginning End of Beginning Depreciation End of Asset
of Year Additions Deductions Year of Year Taken Year Value
Land $ 253,800 $ $ $ 253,800 $ $ $ $ 253,800
Buildings:
Water system 260,680 260,680 31,544 6,517 38,061 222,619
Sewer system 5,156 2,890 8,046 708 177 885 7,161
Total - Buildings 265,836 2,890 268,726 32,252 6,694 38,946 229,780
Improvements other than buildings:
Water wells 481,119 481,119 59,068 27,215 86,283 394,836
Water tanks and sewer lift stations 1,063,002 151,113 1,214,115 147,107 35,959 183,066 1,031,049
Sewer treatment plant 712,831 712,831 52,392 17,821 70,213 642,618
Utility lines 772,855 212,758 985,613 126,490 18,610 145,100 840,513
Total - Improvements other than
buildings 3,029,807 363,871 3,393,678 385,057 99,605 484,662 2,909,016
Machinery and equipment:
Automobiles and trucks 24,045 24,045 14,679 4,275 18,954 5,091
Working equipment 60,692 209,253 269,945 16,420 6,169 22,589 247,356
Total - Machinery and equipment 84,737 209,253 293,990 31,099 10,444 41,543 252,447
Construction in progress 296,428 893,414 517,259 672,583 672,583
Totals $3,930,608 51,469,428 $517,259 $4,882,777 $448,408 $116,743 $565,151 $4,317,626
The accompanying notes are an integral
part of these financial statements.
- 27 -
CITY OF ROUND ROCK
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1980
NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES
Basis of accounting - Prior to October 1, 1977, the records of the City were
maintained on the cash receipts and disbursements basis of accounting. At October
1, 1977, the City adopted the double -entry system of accounting as required by its
home rule charter. The entry to record fixed assets in the general fixed asset
group of accounts and utility plant in service in the utility fund was based on an
estimate of fair market value of these assets at date of acquisition and does not
necessarily reflect the total actual cost of assets on hand at October 1, 1977.
Similarly, the fund balances of the various funds does not necessarily reflect the
cumulative activity of these funds from the beginning of their operations.
Transfers between funds - transfers of cash between funds are counted as
receipts by the receiving fund and disbursements by the paying fund in the year the
transfer of cash is made.
Revenues - revenues are recorded when cash is received except for revenues
that are measurable and available as a resource that can be used to finance
governmental operations during the year.
Expenditures - expenditures are recorded on the accrual basis except that
interest on long -term debt of the general government is treated as an expense
when due.
NOTE 2 - PROPERTY AND EQUIPMENT
The City established a general fixed assets group of accounts, wherein all
fixed asset expenditures of the General Fund and Capital Projects Fund are
recorded at cost. Depreciation is not provided for assets recorded in the General
Fixed Assets Group of Accounts. The original cost of such assets is removed from
the accounts when the assets are sold, retired or abandoned.
The Utility Fund records fixed asset purchases and completed construction
projects at cost. Construction in progress in the Utility Fund is recorded in the
Utility Fund. Depreciation is charged to current operations on a straight -line
method using the following estimated useful lives:
Estimated Useful Lives:
(in years)
Buildings 40
Improvements other than buildings 10 to 40
Machinery and equipment 5 to 10
No assets were retired or otherwise disposed of during the year ended
September 30, 1980.
- 28 -
CITY OF ROUND ROCK
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1980
(Continued)
NOTE 3 - ADJUSTMENT TO GENERAL FUND BALANCE
As stated in Note 1 the City recognizes its expenditures on the accrual basis
of accounting. The fund balance of the General Fund has been adjusted to reflect
accrued salaries and wages for the previous reporting period which were omitted.
NOTE 4 - 1980A GENERAL OBLIGATION BONDS
The City sold $2,000,000 of general obligations bonds in September of 1980.
The proceeds of this sale were not received until October, 1980. These bonds
therefore have not been reflected as a liability in these financial statements.
- 29 -
744 //.