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O-83-995 - 3/14/1983/Vo. 99,c CERTIFICATE FOR ORDINANCE THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK We, the undersigned officers of said City, hereby 'certify as follows: 1. The City Council of said City convened in REGULAR MEETING ON THE 14TH DAY OF MARCH, 1983, at the City Hall, and the roll was called of the duly constituted officers and members of said City Council, to -wit: Larry L. Tonn, Mayor Mike Robinson, Pro -Tem Joanne Land, City Secretary Graham Howell Pete Correa Trudy L. Lee Joe Baker Mike Heiligenstein and all of said persons were present, except the following absentees: e'Qurtiec,iintc,►) kluK.2_&yt.) thus constituting a quorum. Whereupon, amorvother business, the following was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed; and, after due discussion, said motion carrying with it the passage of said Ordinance, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "Aye". NAYS: None. 2. That a true, full and correct copy of the aforesaid Ordinance passed at the Meeting described in the above and foregoing paragraph is attached to and follows this Certifi- cate; that said Ordinance has been duly recorded in said City Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said Meeting pertaining to the passage of said Ordinance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and sufficiently notified official- ly and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting was open to the public and public notice of the time, place and purpose of said meeting was given, all as required by Vernon' s Ann. Civ. St. Article 6252-17. 3. That the Mayor of said City has approved and hereby approves the aforesaid Ordinance; that the Mayor and the City Secretary of said City have duly signed said Ordinance; and that the Mayor and the City Secretary of said City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Ordinance for all purposes. SIGNED AND SEALED the 14th day of Mar 983. M y 11 ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK WHEREAS, the bonds hereinafter authorized were duly and favorably voted at an election held in said City on November 7, 1979; and WHEREAS, out of the Waterworks and Sewer System revenue bonds voted on November 6, 1979, the following previously have been issued and delivered: Waterworks and Sewer System Revenue Bonds, Series 1980, in the aggregate principal amount of $1,390,000 for im- proving and extending the combined Waterworks and Sewer System of the City. WHEREAS, it is necessary and advisable to authorize, issuance and deliver an installment or series of said bonds; and WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to Vernon's Articles 1111 through 1118; and BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK: Section 1. That said City's bonds are hereby author- ized to be issued in the aggregate principal amount of $1,500,000 for the purpose of improving and extending the combined Waterworks and Sewer System of the City. Section 2. That said bonds shall be designated as the: CITY OF ROUND ROCK, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1983. Section 3. That said bonds shall be dated April 1, 1983, shall be in the denomination of $5,000 each, shall be numbered consecutively from one upward, and shall mature serially on the maturity date, in each of the years, and in the amounts, respectively, as set forth in the following schedule: YEARS 1984 1985 1986 1987 1988 1989 1990 1991 1992 MATURITY DATE: FEBRUARY 1 AMOUNTS $25,000 25,000 50,000 50,000 50,000 50,000 75,000 75,000 75,000 YEARS 1993 1994 1995 1996 1997 1998 1999 2000 AMOUNTS $100,000 100,000 100,000 125,000 125,000 150,000 150,000 175,000 Section 4. That the bonds scheduled to mature during the years, respectively, set forth below shall bear interest at the following rates per annum: maturities maturities maturities maturities maturities maturities maturities maturities maturities 1984 through 1947 , A.049% 1984 through 19, /0.75% 1991 through 19 , t ov % 1970 through 19 , P. aS % 195y through 19 , j).50% 1914,_ through 19 , (75 1993 through 19 , P.90 19_Iy through 19 , 4/.40 191s -through 19, 9.40% � � zoo 9, 75% Said interest shall be evidenced by interest coupons which shall appertain to said bonds, and which shall be payable in the manner provided and on the dates stated in the FORM OF BOND set forth in this Ordinance. Section 5. That said bonds and interest coupons shall be issued, shall be payable, may be redeemed prior to their scheduled maturities, shall have the characteristics, and shall be signed and executed (and said bonds shall be sealed), all as provided, and in the manner indicated, in the FORM OF BOND set forth in this Ordinance. Section 6. That the form of said bonds, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be imprinted and endorsed on each of said bonds, and the form of the aforesaid interest coupons which shall appertain and be attached initially to each of said bonds, shall be, respectively, substantially as follows: FORM OF BOND NO. $5,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BOND SERIES 1983 ON FEBRUARY 1, , the CITY OF ROUND ROCK, IN THE COUNTY OF WILLIAMSON, STATE OF TEXAS, hereby promises to pay to bearer hereof the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from date hereof, at the rate of % per annum, evidenced by interest coupons payable February 1, 1984, and semi-annually thereafter while this bond is outstanding. THE PRINCIPAL of this bond and the interest coupons appertaining hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this bond or proper interest coupon, at the following, which shall constitute and be defined as the "Paying Agent" for this Series of Bonds: FARMERS STATE BANK OF ROUND ROCK, ROUND ROCK, TEXAS or, at the option of the holder, at FIRST CITY BANK OF DALLAS, DALLAS, TEXAS THIS BOND is one of a Series dated as of April 1, 1983, authorized, issued, and delivered in the principal amount of $1,500,000, for the purpose of improving and extending the combined Waterworks and Sewer System of the City. ON FEBRUARY 1, 1993, or on any interest payment date thereafter any outstanding bonds of this Series may be redeemed prior to their scheduled maturities, at the option of said City, in whole, or in part, for the principal amount thereof and accrued interest thereon to the date fixed for redemption. At least thirty days prior to the date fixed for any such redemption said City shall cause a written notice of such redemption to be published at least once in a financial publication published in the City of New York, New York. By the date fixed for any such redemption due provi- sion shall be made with the Paying Agent for the payment of the principal amount of the bonds which are to be so re- deemed and accrued interest thereon to the date fixed for redemption. If such written notice of redemption is pub- lished and if due provision for such payment is made, all as provided above, the bonds which are to be so redeemed thereby automatically shall be redeemed prior to their scheduled maturities, and they shall not bear interest after the date fixed for redemption, and they shall not be re- garded as being outstanding except for the right of the bearer to receive the redemption price from the Paying Agent out of the funds provided for such payment. IT IS HEREBY certified, recited, and covenanted that this bond has been duly and validly voted, authorized, issued and delivered; that all acts, conditions, and things required or proper to be performed, exist, and be done precedent to or in the voting, authorization, issuance, and delivery of this bond have been performed, existed, and been done in accordance with law; that this bond is a special obligation; and that the principal of and interest on this bond, together with other revenue bonds of said City, are payable from, and secured by a first lien on and pledge of, the Net Revenues of said City's Waterworks and Sewer System. SAID CITY has restrictions stated, Ordinance authorizing tional parity revenue from, and secured by Net Revenues. reserved the right, subject to the and adopted by reference, in the this Series of bonds, to issue addi- bonds which also may be made payable a lien on and pledge of, the aforesaid THE HOLDER HEREOF shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. IN WITNESS WHEREOF, this bond and the interest coupons appertaining hereto have been signed with the facsimile signature of the Mayor of said City and countersigned with the facsimile signature of the City Secretary of said City, and the official seal of said City has been duly impressed, or placed in facsimile, on this bond. Mayor FORM OF REGISTRATION CERTIFICATE: COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas, and that this bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas FORM OF INTEREST COUPON: ON , THE CITY OF ROUND ROCK, IN THE COUNTY OF WILLIAMSON, STATE OF TEXAS, promises to pay to bearer the amount shown on this interest coupon, in lawful money of the United States of America, without exchange or. collection charges to the ,bearer, unless due provision has been made for the redemp- tion prior to scheduled maturity of the bond to which this interest coupon appertains, upon presentation and surrender of this interest coupon, at the Farmers State Bank of Round Rock, Texas, or, at the option of the holder, at First City Bank of Dallas, Dallas, Texas, said amount being interest coming due that day on the bond, bearing the number herein- after designated, of that issue of CITY OF ROUND ROCK, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1983, dated April 1, 1983. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Bond No. . City Secretary Mayor Section 7. (a) That the term "Outstanding Bonds", as hereinafter used in this Ordinance, shall mean all of said City's presently outstanding bonds which are payable from, and secured by a first lien on and pledge of, the Net Revenues of said City's Waterworks and Sewer System. (b) That the bonds authorized hereby are parity "Additional Bonds" as defined in the Ordinance passed on January 23, 1964, authorizing the issuance, sale and de- livery of said City's Waterworks and Sewer System Revenue Bonds, Series 1964, dated February 1, 1964. (c) That the term "Fiscal Year" shall mean the twelve months period beginning October 1 of each year and ending on September 30 of the following year, beginning with October 1, 1983 and thereafter. (d) That Sections 9 through 26 of said Ordinance, and in particular Section 10 of the Ordinance that authorized the City's Waterworks and Sewer System Revenue Bonds, Series 1964, together with such other sections of the ordinances that authorized the outstanding bonds that are applicable, are hereby adopted by reference and shall be applicable to the bonds authorized to be issued by this Ordinance for all purposes, except to the extent hereinafter specifically modified and supplemented. The bonds authorized to be issued by this Ordinance and the Outstanding Bonds are and shall be on a parity and of equal dignity in all respects, and are and shall be payable from, and secured by a first lien on and pledge of, the Net Revenues of said City's combined Waterworks and Sewer System. Section 8. That in addition to all other amounts required by the ordinances, respectively, authorizing the Outstanding Bonds, there shall be deposited into the Interest and Sinking Fund (created for the benefit of said Outstanding Bonds and all Additional Bonds) the following: (a) Such amounts, in approximately equal monthly installments, deposited on or before the lOth day of each month hereafter, as will be sufficient to pay the interest scheduled to come due on the bonds authorized by this Ordinance on the next interest payment date; and (b) Such amounts, in approximately equal monthly installments, deposited on or before the 10th day of each month hereafter, as will be sufficient to pay the next maturing principal of the bonds authorized by this Ordinance. Section 9. That in addition to all other amounts required by the Ordinance authorizing the Outstanding Bonds, there shall be deposited into the Reserve Fund (created for the benefit of said Outstanding Bonds and all Additional Bonds) on or before the 10th day of each month hereafter, the sum of at least $4409.00 until the Reserve Fund contains an aggregate amount of $ . Thereafter, said aggregate amount shall be maintained in said Reserve Fund for the benefit of the Outstanding Bonds, the Bonds authorized by this Ordinance, and all other Additional Bonds, in accordance with the procedures, as herein modified and supplemented, set forth in the Ordinance that authorized the Outstanding Bonds. Section 10. That the bonds authorized by this Ordin- ance are and shall be special obligations of said City, and the holder or holders thereof shall never have the right to demand payment of said obligations out of any funds raised or to be raised by taxation. Section 11. That the Mayor of said City is hereby authorized to have control of said bonds and all necessary records and proceedings pertaining to said bonds pending their delivery and their investigation, examination and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of said Bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate prescribed herein to be printed and endorsed on each bond, and the seal of said Comptroller shall be impressed, or printed, or lithographed on each of said bonds. Section 12. That the City covenants to and with the purchasers of the bonds that it will make no use of the proceeds of the bonds at any time throughout the term of this issue of bonds which, if such use had been reasonably expected on the date of delivery of the bonds to and payment for the bonds by the purchasers, would have caused the bonds to be arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, or any regulations or rulings pertaining thereto; and by this covenant the City is obligated to comply with the require- ments of the aforesaid Section 103(c) and all applicable and pertinent Department of the Treasury regulations relating to arbitrage bonds. The City further covenants that the proceeds of the bonds will not otherwise be used directly or indirectly so as to cause all or any part of the bonds to be or become arbitrage bonds within the meaning of the aforesaid Section 103(c), or any regulations or rulings pertaining thereto. Section 13. That it is hereby officially found and determined: that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or urgent public necessity being that the proceeds from the sale of said bonds are required as soon as possible and without delay for necessary and urgently needed public improvements; and that said meeting was open to the public, and public notice of the time, place, and purpose of said meeting was given, all as required by Vernon's Ann. Civ. St. Article 6252-17. 1! Section 14. That said bonds are hereby sold and shall be delivered to for cash for the par value thereof and accrued interest thereon to date of delivery, plus a premium of $ . It is hereby officially found, determined, and declared that said bonds have been sold at public sale to the bidder offering the lowest interest cost, after receiving sealed bids pursuant to an Official Notice of Sale and Official Statement dated February 24, 1983, prepared and distributed in connection with the sale of said bonds. Said Official Notice of Sale and Official Statement have been and are hereby approved by the City Council. It is further offi- cially found, determined, and declared that the statements and representations contained in said Official Notice of Sale and Official Statement are true and correct in all material respects, to the best knowledge and belief of the City Council. Section 15. That this Ordinance shall become effective upon its passage, since this is an authorization for borrowing for capital improvements.