R-2016-3658 - 7/28/2016 RESOLUTION NO. R-2016-3658
WHEREAS, the City of Round Rock ("City") has previously entered into a Wastewater
Service Agreement("Agreement") with Brushy Creek Municipal Utility District ("District"); and
WHEREAS, the City Council now wishes to enter into a First Amendment to the Agreement
to amend Exhibit"A"to provide for reduced debt service payments,Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City, First
Amendment to the Wastewater Service Agreement Between the City of Round Rock and Brushy Creek
Municipal Utility District, a copy being attached hereto as Exhibit "A" and incorporated herein for all
purposes.
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 28th day of July, 2016.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
4n4-' .
SARA L. WHITE, City Clerk
0112.1604;00361069
EXHIBIT
„A»
FIRST AMENDMENT TO THE
WASTEWATER SERVICE AGREEMENT
BETWEEN THE
CITY OF ROUND ROCK
AND
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
THIS FIRST AMENDMENT TO THE WASTEWATER SERVICE
AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND BRUSHY CREEK
MUNICIPAL UTILITY DISTRICT (the "First Amendment") is dated and entered into as of the
day of , 2016, by and among the City of Round Rock, Texas ("Round Rock") a
home-rule municipality and political subdivisions of the State (the "City") and Brushy Creek
Municipal Utility District, (the"District").
RECITALS
WHEREAS, Round Rock and the District have entered into that certain Wastewater
Service Agreement Between the City of Round Rock and Brushy Creek Municipal Utility
District, (the"Agreement") effective as of and
WHEREAS, Exhibit "A" to the Agreement sets forth the debt service payments to be
made by the District for the purposes of the District Capital Charge; and
WHEREAS, in June 2016, the City refunded approximately $35,000,000 in Utility
System Revenue Bonds to take advantage of favorable market conditions which will allow the,
City and District to save significant money for interest payments; and
WHEREAS, the parties hereto desire to amend Exhibit "A" to provide for reduced debt
service payments;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained, the sufficiency of which are hereby conclusively acknowledged, and subject to the
terms and conditions hereinafter set forth, Round Rock and the District mutually agree to
approve this First Amendment,which shall read as follows:
ARTICLE 1
DEFINITIONS
Section 1.1 All terms used herein shall have the meanings assigned to them in the Agreement,
unless the context clearly requires otherwise.
First Amendment Brushy Creek MUD-draft-7-12-16(00360664xA08F8).doc
ARTICLE II
AMENDED EXHIBIT A
Section 2.1 The document marked "Exhibit A", and entitled City of Round Rock Texas,
Remaining 2009 Bonds Plus 2016 Refunding Bonds, Brushy Creek MUD Portion Only"
attached to and incorporated herein replaces the previous "Exhibit A" attached to the
Agreement. Everywhere the Agreement refers to "Exhibit A," it is agreed that henceforth it will
be understood to refer to the attached"Exhibit A".
ARTICLE III
MISCELLANEOUS
Section 3.1 To the extent necessary to effect the terms and provisions of this First
Amendment, the Agreement is hereby amended and modified. In all other respects, the aforesaid
Agreement is hereby ratified and confirmed.
Section 3.2 This First Amendment may be executed in counterparts, each of which shall be an
original and all of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF,the parties hereto acting under authority of their respective
governing bodies have caused this First Amendment to be duly executed as of the day and year
first above written.
(SIGNATURES ON FOLLOWING PAGES)
2
BRUSHY CREEK MUNICIPAL UTILITY DISTRICT
By:
President
Attest:
By:
Secretary
3
CITY OF ROUND ROCK,TEXAS
By:
Alan McGraw, Mayor
Attest:
By:
Sara White, City Clerk
4
EXHIBIT
City of Round Rock,Texas
Remaining 2009 Bonds Plus 2016 Refunding Bonds
Brushy Creek MUD Portion Only
Aggregate Debt Service Part 1 of 3
Date Principal Interest Total P+I Fiscal Total
08/01/2016 165,000.00 80,754.24 245,754.24 -
09/30/2016 - - - 245,754.24
02/01/2017 - 116,601.30 116,601.30 -
08/01/2017 170,000.00 116,601.30 286,601.30 -
09/30/2017 - 403,202.60
02/01/2018 - 113,139.25 113,139.25 -
08/01/2018 175,000.00 113,139.25 288,139.25 -
09/30/2018 - - - 401,278.50
02/01/2019 - 109,575.38 109,575.38 -
08/01/2019 185,000.00 109,575.38 294,575.38
09/30/2019 - - - 404,150.76
02/01/2020 - 105,807.85 105,807.85 -
08/01/2020 190,000.00 105,807.85 295,807.85 -
09/30/2020 - - - 401,615.70
02/01/2021 - 101,938.50 101,938.50 -
08/01/2021 200,000.00 101,938.50 301,938.50 -
09/30/2021 - - - 403,877.00
02/01/2022 - 97,865.50 97,865.50 -
08/01/2022 210,000.00 97,865.50 307,865.50 -
09/30/2022 - - - 405,731.00
02/01/2023 - 93,588.85 93,588.85 -
08/01/2023 215,000.00 93,588.85 308,588.85 -
09/30/2023 - - - 402,177.70
02/01/2024 - 89,210.38 89,210.38 -
08/01/2024 225,000.00 89,210.38 314,210.38 -
09/30/2024 - - - 403,420.76
02/01/2025 - 84,628.25 84,628.25 -
08/01/2025 230,000.00 84,628.25 314,628.25 -
09/30/2025 - - 399,256.50
02/01/2026 - 78,878.25 78,878.25 -
08/01/2026 245,000.00 78,878.25 323,878.25 -
09/30/2026 - - - 402,756.50
02/01/2027 - 72,753.25 72,753.25 -
08/01/2027 255,000.00 72,753.25 327,753.25 -
09/30/2027 - - - 400,506.50
02/01/2028 - 69,565.75 69,565.75 -
08/01/2028 260,000.00 69,565.75 329,565.75 -
09/30/2028 - - - 399,131.50
02/01/2029 - 66,315.75 66,315.75 -
08/01/2029 265,000.00 66,315.75 331,315.75
Aggregate 1 7/1212016 1 9:53 AM
Specialized Public
Austin,Texas Pagel
i
City of Round Rock,Texas
Remaining 2009 Bonds Plus 2016 Refunding Bonds
Brushy Creek MUD Portion Only
Aggregate Debt Service Part 2 of 3
Date Principal Interest Total P+I Fiscal Total
09/30/2029 - - 397,631.50
02/01/2030 - 62,672.00 62,672.00 -
08/01/2030 275,000.00 62,672.00 337,672.00 -
09/30/2030 - - - 400,344.00
02/01/2031 - 58,890.75 58,890.75
08/01/2031 285,000.00 58,890.75 343,890.75 -
09/30/2031 - - - 402,781.50
02/01/2032 - 54,615.75 54,615.75 -
08/01/2032 290,000.00 54,615.75 344,615.75 -
09/30/2032 - 399,231.50
02/01/2033 - 50,265.75 50,265.75 -
08/01/2033 300,000.00 50,265.75 350,265.75 -
09/30/2033 - - - 400,531.50
02/01/2034 - 44,265.75 44,265.75 -
08/01/2034 310,000.00 44,265.75 354,265.75 -
09/30/2034 - - - 398,531.50
02/01/2035 - 38,065.75 38,065.75 -
08/01/2035 325,000.00 38,065.75 363,065.75 -
09/30/2035 - - - 401,131.50
02/01/2036 - 31,565.75 31,565.75 -
08/01/2036 365,000.00 31,565.75 396,565.75 -
09/30/2036 - - - 428,131.50
02/01/2037 - 24,132.53 24,132.53 -
08/01/2037 380,000.00 24,132.53 404,132.53 -
09/30/2037 - - 428,265.06
02/01/2038 - 16,393.83 16,393.83 -
08/01/2038 395,000.00 16,393.83 411,393.83 -
09/30/2038 - - - 427,787.66
02/01/2039 - 8,349.65 8,349.65 -
08/01/2039 410,000.00 8,349.65 418,349.65 -
09/30/2039 - - - 426,699.30
Total $6,325,000.00 $39258,925.78 $9,583,925.78 -
Aggregate 1 7/12/2016 1 9:53 AM
PublicSpecializod
City of Round Rock,Texas
Remaining 2009 Bonds Plus 2016 Refunding Bonds
Brushy Creek MUD Portion Only
Aggregate Debt Service Part 3 of 3
Yield Statistics
Base date for Avg.Life&Avg.Coupon Calculations 6/21/2016
Average Life 13.441 Years
Average Coupon 3.7698211%
Par Amounts Of Selected Issues
09 RR util revs level MUDs(2016 ref)-BC MUD 3,285,000.00
2016 Utility Rev Ref(6/6)Allocations-Brushy Creek MUD 3,040,000.00
TOTAL 6,325,000.00
Aggregate 1 7/12/2016 1 9:53 AM
Specialized Public