R-89-1249 - 3/9/1989WHEREAS, the City of Round Rock issued bonds for the acquisition
of property located at Old Settler's Park at Palm Valley, and
WHEREAS, of the $34,875.00 allocated for issuance costs,
$17,504.00 remains unspent, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the remaining $17,504.00 shall be re- allocated to a
contingency fund to be utilized for improvements to the Old Settler's
Park at Palm Valley.
RESOLVED this 9th day of March, 1989.
ATTEST:
ANNE
C39RESBONDS
LAND, City Secretary
RESOLUTION NO. / WY % k.
MIKE ROBINSON, Mayor
RESOURCE PERSON: SHARON PRETE
DATE: March 7, 1989
SUBJECT: Council Agenda, March 9, 1989
ITEM: 13D. Consider a resolution authorizing the Council to reallocate Bond
funds for Old Settlers Park at Palm Valley.
STAFF RECOMMENDATION:
Approval. $34,875.00 were earmarked for issuance costs
associated with the acquisition of the park land,
$17,371.00 were used. This transaction is ctinpleted
and according to the Bond Covenents, Council action is
required to release the remaining $17,504.00 so that
they can be allocated for other purposes.