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R-93-04-22-9E - 4/22/1993RROC1' REIMBURSE/1 412093 R- 93- o4-Z - RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE FROM BOND PROCEEDS CERTAIN COSTS OF THE DELL COMPUTER CORPORATION PROJECT WHEREAS, the City of Round Rock, Texas acting by and through its duly authorized industrial development corporation (the "Issuer ") is authorized to issue bonds pursuant to Article 5190.6, Vernon's Texas Civil Statutes, as amended, for the purposes as set forth therein (the "Act"); and WHEREAS, it is expected that certain capital expenditures will be paid in connection with the design, planning, acquisition and construction of facilities for Dell Computer Corporation, as further described in Exhibit "A" (the "Project"), prior to the issuance of bonds to finance all or any portion of such Project; and WHEREAS, the Issuer finds, considers, and declares that the reimbursement for the payment of such capital expenditures will be appropriate and consistent with the objectives of the Act and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.103 -18 of the Treasury Regulations and applicable state law, to reimburse such payments at such time as the bonds are issued to finance the Project. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS THAT: Section 1. The Issuer reasonably expects to issue bonds, in one or more series with an estimated aggregate maximum principal amount of $50,000,000 for the purpose of paying all or any portion of the costs of the Project. A portion of the proceeds of the bonds received by the Issuer in an amount estimated not to exceed $11,300,000, are reasonably expected to be used to reimburse certain costs of the Project. Section 2. The Issuer intends that this Resolution satisfy the official intent requirement set forth in Section 1.103 -18 of the Treasury Regulations and applicable state law. The Issuer has no funds or sources of funds, other than the proceeds of the bonds to be issued, which the Issuer has, or reasonably expects to be, reserved, allocated on a long- term basis, or otherwise set aside in the Issuer's budget or other financial policies with respect to the expenditures to be reimbursed. Section 3. All costs to be reimbursed pursuant hereto will be capital expenditures within the meaning of Section 1.103- 18(c)(2)(iii) of the Treasury Regulations. None of the expenditures to be reimbursed pursuant to this Resolution have been allocated to expenditures entered on the books and records of the Issuer earlier than the date on which such expenditures are paid. Moreover, no debt obligations will be issued by the Issuer in furtherance of this Resolution after a date which is later than one year after the later of (1) the date the expenditures are paid or (2) the date on which the property, with respect to which such expenditures were made, is placed in service. Section 4. The City Council directs that this Resolution be maintained as a public record available for inspection by all persons in accordance with the provisions of Article 6252 -17a, Vernon's Annotated Texas Civil Statutes and that no later than thirty (30) days after this date, this Resolution will be made available for inspection by all members of the general public at the offices of the Issuer. MOCK, RFSMBVRSPJ1.6 V■'W 2 Land and improvements within the City of Round Rock, Texas including but not limited to an approximately 600,000 square foot facility (including one or more buildings) for office, warehouse, telemarketing, sales and distribution purposes along with related parking, utilities and other infrastructure in connection therewith. RROCX: RFIMBURSER6cw Exhibit "A" A -1 3. The Resolution has not been modified, amended or repealed and is in full force and effect on and as of the date hereof. (SEAL) SIGNED AND SEALED the a a Secretary ity of Round Rock /.993 Mayor City of Round Rock THE STATE OF TEXAS CITY OF ROUND ROCK Mike Robinson, Mayor Jimmy Joseph, Mayor Pro -Tem Joanne Land, City Secretary Robert Stluka ROUND ROCK RF3OLVIN CRT 1/CV93 CERTIFICATE FOR RESOLUTION Rod Morgan Rick Stewart Earl Palmer Martha A. Chavez We, the undersigned officers of the City of Round Rock, Texas, hereby certify as follows: 1. The Councilmembers of the City of Round Rock (the "Council ") convened in REGULAR MEETING ON THE 22ND DAY OF APRIL, 1993, at the designated meeting place (the "Meeting "), and the roll was called of the duly constituted officers and members of the City Council to wit: and all of the persons were present, except the following absentees: 7J , thus constituting a quorum. Whereupon, among other business, the attached resolution (the "Resolution ") was duly introduced for the consideration of the Council. It was then separately and duly moved and seconded that the Resolution be adopted; and, after due discussion, the motion, carrying with it the adoption of the Resolution, prevailed and carried by the following votes: at t' /1 NOES: `/WTI 2. That a true, full and correct copy of the Resolution adopted at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that the Resolution has been duly recorded in the City Council's minutes of the Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the adoption of the Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the City Council as indicated therein; that each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that the Resolution would be introduced and considered for adoption at the Meeting, and each of the officers and members consented, in advance, to the holding of the Meeting for such purpose; that the Meeting was open to the public and public notice of the time, place and purpose of the Meeting was given, all as required by Vernon's Annotated Texas Civil Statutes Article 6252 -17.