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O-82-955 - 4/27/1982� �' 95-Y" 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 SPECIAL MEETING ON THE 27TH DAY OF APRIL, 1982, 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, Mayor Pro -Tem Joanne Land, City Secretary Graham Howell Pete Correa Joe Baker Mike Heilingenstein Trudy L. Lee and all of said persons were present, except the following absentees: thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION 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 27th day o SEAL Secretary# ayor ORDINANCE AUTHORIZING THE ISSUANCE OF INTEREST BEARING CERTIFICATES OF OBLIGATION THE STATE OF TEXAS § COUNTY OF WILLIAMSON § CITY OF ROUND ROCK § WHEREAS, the City Council deems it advisable to issue Certificates of Obligation in the amount of $182,000 for the purpose of paying all or a portion of the City's contractual obligations for improvements to the east side service road for IH 35 from Onion Creek Northwest to North Loop 384 within the boundaries of the City, and for tax appraisal, legal and fiscal fees in connection with this project; and WHEREAS, the cost of at least one-third of the improvements to the east side service road for IH 35 from Onion Creek Northwest to North Loop 384 -within the boundaries of the City will be paid by special assessment levied against property to be benefited thereby; WHEREAS, the Certificates of Obligation hereinafter authorized and designated are to be issued and delivered for cash pursuant to Article 2368a.1, V.A.T.C.S.; and WHEREAS, the City Council has heretofore, on the 5th day of April, 1982, passed an ordinance authorizing and directing the city secretary to give notice of intention to issue Certificates of Obligation; and WHEREAS, said notice has been duly published in the Round Rock Leader, is a newspaper of general circulation in said City, in its issues of April 12, 1982 and April 19, 1982; and WHEREAS, the City received no petition from the quali- fied electors of the City protesting the issuance of such Certificates of Obligation; and WHEREAS, it is considered to be to the best interest of the City that said interest bearing Certificates of Obli- gation of even denominations in the amount of $1,000 to be issued. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS: 1. That the City's Certificates of Obligation, to be called the "CITY OF ROUND ROCK, TEXAS CERTIFICATES OF OBLIGATION, SERIES 1982-A" shall be issued under and by virtue of the Constitution and laws of the State of Texas, for the purpose of paying all or a portion of the City's contractual obligations for improvements to the east side service road for IH 35 from Onion Creek Northwest to North Loop 384 within the boundaries of the City, and for tax appraisal, legal and fiscal fees in connection with this project. 2. That said Certificates of Obligation shall be dated May 1, 1982, shall be numbered consecutively from one upward, shall be in the denomination of $1,000 each, ag- gregating $182,000, shall become due and payable on August 1 of each of the years as follows: YEARS 1983 1984 1985 1986 1987 AMOUNTS $25,000 34,000 37,000 41,000 45,000 { 3. That said Certificates of Obligation scheduled to mature during the years, respectively, set forth below shall bear interest at the following rates per annum: maturities maturities maturities maturities maturities 1983 through 19J»7, /21.75% 19 through 19 , % 19 through 19 , % 19 through 19 , % 19_ through 19_, g Said interest evidenced by interest coupons which shall appertain to said Certificates of Obligation, and which shall be payable in the manner provided and on the dates stated in the FORM OF CERTIFICATE set forth in this Ordinance. 4. ' That said Certificates of Obligation and interest coupons shall be issued, shall be payable, may be redeemed prior to their scheduled maturities, shall have the charac- teristics and shall be signed and executed (and said Certi- ficate shall be sealed), all as provided, and in the manner indicated, in the FORM OF CERTIFICATE set forth in this Ordinance. 5. That the form of said Certificates of Obligation, including the form of Registration Certificate of the Comp- troller of Public Accounts of the State of Texas to be printed and endorsed on each of said Certificates, and the form of the aforesaid interest coupons which shall appertain and be attached initially to each of said Certificates, shall be, respectively substantially as follows: FORM OF CERTIFICATE No. $1,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK, TEXAS CERTIFICATE OF OBLIGATION SERIES 1982-A' ON AUGUST 1, 19 , THE CITY OF ROUND ROCK, COUNTY OF WILLIAMSON, STATE OF TEXAS, promises to pay to bearer hereof the principal amount of ONE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of % per annum, evidenced by interest coupons payable on February 1, 1983, and semiannually thereafter, while this Certificate is outstanding. THE PRINCIPAL of this Certificate of Obligation 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 Certificate of Obligation or proper interest coupons at the following, which shall constitute and be defined as the "Paying Agent" for this Series of Certificates: n1r�.4.1 %LatconzzP ELA THIS CERTIFICATE OF OBLIGATION is one of a series dated as of May 1, 1982, issued in the principal amount of $182,000, for the purpose of paying all or a portion of the City's contractual obligations for improvements to the east side service road for IH 35 from Onion Creek Northwest to North Loop 384 within the boundaries of the City, and for tax appraisal, legal and fiscal fees in connection with this project. 2 ON ANY INTEREST PAYMENT DATE THEREAFTER, any outstand- ing Certificates of Obligation of this Series may be re- deemed 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, N. Y., or the Texas Bond Reporter published in Austin, Texas. By the date fixed for any such redemption due provision shall be made with the Paying Agent for the payment of the principal amount of the Certificates of Obligation which are to be so redeemed and accrued interest thereon to the date fixed for redemption. If such written notice of redemption is published and if due provision for such payment is made, all as provided above, the Certificates of Obligation 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 regarded 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 Certificate of Obligation has been duly and validly 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 authorization, issuance and delivery of this Certificate of Obligation have been per- formed, existed and been done in accordance with law; that this Certificate of Obligation is a general obligation of said City, issued on the full faith and credit thereof; and that annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Certificate of Obligation, as such interest comes due and such principal matures, have been levied and ordered to be levied against all taxable property in said City, and have been pledged irrevocably for such payment, within the limit prescribed by law. IN WITNESS WHEREOF, this Certificate and the interest coupons appertaining hereto have been signed with the fac- simile 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 Certificate. xxxxxx xxxxx City Secretary Mayor FORM OF COMPTROLLER'S REGISTRATION CERTIFICATE COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this Certificate of Obligation has been examined, certified as to validity and approved by the Attorney General of the State of Texas, and that this Certificate of Obligation 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 3 FORM OF INTEREST COUPON NO. $ THE CITY OF ROUND, 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 Certificate of Obligation to which the interest coupon appertains, upon presentation and surrender of this interest coupon at the said amount being interest due that day on the Certificate of Obligation bearing the number hereinafter designated, of that issue of CITY OF ROUND ROCK, TEXAS CERTIFICATES OF OBLIGATION, SERIES 1982-A, dated May 1, 1982. Certificate of Obligation No. xxxxx xxxxx City Secretary Mayor 6. That a special "Interest and Sinking Fund" is hereby created and shall be established and maintained by the City at an official depository bank of said City. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said City, and shall be used only for paying the interest on and principal of said Certificates of Obligation. All ad valorem taxes levied and collected for and on account of said Certificates of Obliga- tion shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said Certificates of Obligation or interest coupons apper- taining thereto are outstanding and unpaid, the City Council of said City shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay the interest on said Certificates of Obligation as such principal matures (but never less than 2% of the original amount of said Certifi- cates of Obligation as a sinking fund each year); and said tax shall be based on the latest approved tax roils of said City, with full allowances being made for tax delinquencies and the cost of tax collection. Said rate and amount of ad valorem tax is hereby levied, and is hereby ordered to be levied, against all taxable property in said City, for each year while any of said Certificates of Obligation or interest coupons appertaining thereto are outstanding and unpaid, and said tax shall be assessed and collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem taxes sufficient to provide for the payment of the interest on and principal of said Certificates of Obligation, as such interest comes due and such principal matures, are hereby pledged irrevocably for such payment, within the limit prescribed by law. 7. That the Mayor and the City Secretary are hereby ordered to do any and all things necessary to accomplish the transfer of monies to the Interest and Sinking Fund of this issue in ample time to pay such items of principal and interest. 8. That the Mayor of said City is hereby authorized to have control of said Certificates of Obligation and all necessary records and proceedings pertaining to said Certi- ficates of Obligation 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 Certificates said Comptroller of Public Accounts (or a deputy designated in writing to act for said 4 Comptroller) shall manually sign the Comptroller's Registra- tion Certificate printed and endorsed on each of said Certificates of Obligation, and the seal of said Comptroller shall be impressed or placed in facsimile, on each of said Certificates of Obligation. 9. That the City covenants to and with the purchasers of the Certificates of Obligation that it will make no use of the proceeds of the Certificates of Obligation at any time throughout the term of this issue of Certificates of Obligation which, if such use had been reasonably expected on the date of delivery of the Certificates of Obligation to and payment for the Certificates of Obligation by the pur- chasers, would have caused the Certificates of Obligation to be arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, or any regu- lations or rulings pertaining thereto; and by this covenant the City is obligated to comply with the requirements 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 Certificates of Obligation will not otherwise be used directly or indirectly so as to cause all or any part of the Certificates of Obligation to be or become arbitrage bonds within the meaning of the aforesaid Section 103(c), or any regulations or rulings pertaining thereto. 10. 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 necess- ity being that the proposed Certificates of Obligation 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. 12. That said Certificates of Obl gatio are h reb sold and shall be delivered to the 0 LL for cash for the par value there° and accrued interest thereon to the date of delivery, plus a premium of $ --C- . 13. That this ordinance shall become effective upon its passage since this is an authorization for borrowing for capital improvements.