R-96-10-24-10D - 10/24/1996RESOLUTION NO. R- 96- 10- 24 -10D
WHEREAS, the City of Round Rock, Texas (the "Issuer ") is a
home -rule City of the State of Texas; and
WHEREAS, the Issuer expects to pay expenditures in connection
with acquiring certain vehicles and equipment (the "Property ")
prior to the issuance of obligations to finance the Property; and
WHEREAS, the Issuer finds, considers, and declares that the
reimbursement of the Issuer for the payment of such expenditures
will be appropriate and consistent with the lawful objectives of
the Issuer and, as such, chooses to declare its intention, in
accordance with the provisions of Section 1.150 -2 of the Treasury
Regulations, to reimburse itself for such payments at such time as
it issues obligations to finance the Property; Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
I.
That the Issuer reasonably expects to incur debt, as one or
more separate series of various types of obligations, with an
aggregate maximum principal amount equal to $450,000 for the
purpose of paying the costs of the Property.
II.
That all costs to be reimbursed pursuant hereto will be
capital expenditures. No tax - exempt obligations will be issued by
the Issuer in furtherance of this Resolution after a date which is
later than 18 months after the later of (1) the date the
expenditures are paid or (2) the date on which the property, with
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respect to which such expenditures were made, is placed in service.
III.
The foregoing notwithstanding, no tax - exempt obligation will
be issued pursuant to this Resolution more than three years after
the date any expenditure which is to be reimbursed is paid.
RESOLVED this 24th day of October, 1996.
ATTEST:
1
E LAND, City Secretary
2.
CHARLES CULLEPPER, Mayor
City of Round Rock, Texas
Possible equipment to be used for reimbursement of expenditures to acquire vehicles and equipment.
DEPARTMENT
Police
Police
Police
Police
Fire
PARD
PARD
PARD
Public Works
Street
Street
DESCRIPTION
Sedan, intermediate size, 4 door
Pickup, 1/2 ton, short bed pickup truck
Sedan, full size, interceptor
Van, passenger, small
Truck, brush fire
Pickup, 1/2 ton
Pickup, 1 ton, crew cab
Van, cargo, full size
Pickup, 1/2 ton, extended cab
Truck, dump
Backhoe
EQUIPMENT LIST
6 ea. @$20,000
2 ea. @$23.850
2 ea. @45.489
ESTIMATED COST
$ 18,500
16,409
120,000
20,588
32,517
15,076
47.700
14,177
20,756
90,978
6 r
S457,701
THE STATE OF TEXAS
CITY OF ROUND ROCK
CERTIFICATE FOR RESOLUTION
We, the undersigned officers of the City of Round Rock, Texas
(the "City "), hereby certify as follows:
1. The City Council of the City (the "Council ") convened in
REGULAR MEETING ON THE 24TH DAY OF OCTOBER, 1996, at the City Hall
(the "Meeting "), and the roll was called of the duly constituted
officers of the City, to wit:
Charles Culpepper, Mayor
Robert Stulka, Mayor Pro -Tem
Rod Morgan, Councilmember
Rick Stewart, Councilmember
Earl Palmer, Councilmember
Jimmy Joseph, Councilmember
Martha A. Chavez, Councilmember
and all of the persons were present, except the following
absentees: , thus constituting a quorum. Whereupon,
among other business, the attached Resolution was duly introduced
for the consideration of the Council. It was then 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 vote:
AYES:
NOES:
O
2. A true, full and correct copy of the aforesaid Resolution
passed 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 Council's minutes of the
Meeting; that the above and foregoing paragraph is a true, full and
correct excerpt from the Council's minutes of the Meeting
pertaining to the passage 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 Council as indicated
therein; that each of the officers and members of the 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
passage at the Meeting, and each of the officers and members
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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 aforesaid Meeting, and that
the Resolution would be introduced and considered for passage 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 Chapter
551, Government Code, as amended. ll11 yl,,.
SIGNED AND SEALED this the O'7 day of De ± � , 1996.
2.
ctriv4¢) rX
E LAND, City Secretary
DATE: October 22, 1996
SUBJECT: City Council Meeting, October 24, 1996
ITEM: 10. D. Consider a resolution expressing official intent to reimburse costs of acquiring
certain vehicles and equipment.
STAFF RESOURCE PERSON: David Kautz
STAFF RECOMMENDATION:
As discussed with the Council during the budget development process, the City plans to acquire
new vehicles and equipment during the course of the budget year.
The acquisitions are expected to be financed with short -term notes or lease purchase
obligations not to exceed $450,000. This financing is also discussed in the budget document.
The federal tax code regulations require the City to first express its intent to reimburse any capital
costs associated with the above acquisitions. That is the purpose of the attached resolution.
The attached Exhibit describes the equipment to be leased. Staff recommends approval of the
resolution.