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R-2016-3478 - 5/26/2016RESOLUTION NO. R-2016-3478 RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN EXPENDITURES OF THE CITY OF ROUND ROCK, TEXAS WHEREAS, the City Council of the City of Round Rock, Texas (the "Issuer") expects to pay expenditures in connection with the projects described on Exhibit "A" attached hereto (the "Project") prior to the issuance of obligations to finance the Project; 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 Project, Now Therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS: Section 1. The Issuer reasonably expects to incur debt, as one or more separate series of various types of obligations, with an aggregate maximum principal amount not to exceed the amounts set forth in Exhibit "A" for the purpose of paying the costs of the Project. Section 2. 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 respect to which such expenditures were made, is placed in service. Section 3. 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. 0I 12.1604; 00357420 The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended. RESOLVED this 26th day of May, 2016. ATTEST: w4kt' Qi6� SARA L. WHITE, City Clerk 2 ALAN MCGRAW, Mayor City of Round Rock, Texas EXHIBIT A All construction, land acquisition and other costs related to the propositions set forth below, and the payment of any professional services in connection therewith including engineering, legal and other related costs: PROPOSITION I Shall the City Council of the City of Round Rock, Texas, be authorized to issue the bonds of the City, in one or more series, in the aggregate principal amount of $9,500,000 with the bonds of each such series, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, as shall be determined within the discretion of the City Council, in accordance with law at the time of issuance, for the purpose of constructing, improving, renovating and equipping City fire department facilities including the acquisition of any necessary sites and fire apparatus and related water, wastewater, drainage, streets, sidewalks, parking infrastructure and other related costs; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes on all taxable property in the City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay the bonds at maturity? PROPOSITION II Shall the City Council of the City of Round Rock, Texas, be authorized to issue the bonds of the City, in one or more series, in the aggregate principal amount of $10,275,000 with the bonds of each such series, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, as shall be determined within the discretion of the City Council, in accordance with law at the time of issuance, for the purpose of constructing, acquiring, improving, renovating, equipping, and/or developing land, buildings and facilities for City park and recreational purposes; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes on all taxable property in the City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay the bonds at maturity? PROPOSITION IV Shall the City Council of the City of Round Rock, Texas, be authorized to issue the bonds of the City, in one or more series, in the aggregate principal amount of $11,100,000 with the bonds of each such series, respectively, to mature serially within not to exceed thirty years from their date, and to be sold at such prices and bear interest at such rates, as shall be determined within the discretion of the City Council, in accordance with law at the time of issuance, for the purpose of constructing, improving, renovating and equipping joint City police and fire department training facilities including the acquisition of any necessary sites and related water, wastewater, drainage, streets, sidewalks, parking infrastructure and other related costs; and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes on all taxable property in the City in an amount sufficient to pay the annual interest on said bonds and provide a sinking fund to pay the bonds at maturity?