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O-81-904 - 6/11/1981904 CERTIFICATE FOR ORDINANCE AUTHORIZING CANCELLATION OF BONDS NOS. 1110 THROUGH 1200 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 4TH DAY OF JUNE, 1981, 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 Heiligenstein 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 CANCELLATION OF BONDS NOS. 1110 THROUGH 1200 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". NOES: 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 nth day of June ►981. e-AL Yor ORDINANCE AUTHORIZING CANCELLATION OF BONDS NOS. 1110 THROUGH 1200 THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK WHEREAS, the City has adopted an ordinance on April 9, 1981, authorizing the issuance and sale of the City of Round Rock, Texas General Obligation Bonds, Series 1981-A, dated April 1, 1981, in the aggregate principal amount of $6,000,000, hereinafter called "Series 1981-A Bonds"; and WHEREAS, such bonds were sold to the Texas Water Develop- ment Board on the condition that the bonds would be delivered after the receipt by the City of the construction bids for the proposed improvements and extensions to the City's Waterworks System; and WHEREAS, the City received bids for such proposed improvements and that the City's funds consisting of the proceeds from the sale of the City's General Obligation Bonds, Series 1981-B, will be sufficient to construct the project upon the payment by the Texas Water Development Board of $5,545,000 for the purchase of Bonds Nos. 1 through 1109 of the Series 1981-A Bonds; and WHEREAS, the City has delivered Bonds Nos. 1 through 1109, in the aggregate principal amount of $5,545,000 of the Series 1981-A Bonds, and does hereby deem it advisable to cancel Bonds Nos. 1110 through 1200, in the amount of $455,000. THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK: 1. That the City has delivered Bonds Nos. 1 through 1109, in the aggregate principal amount of $5,545,000, maturing on August 1, 1983 through August 1, 1999 of the Series 1981-A Bonds, and that Bonds Nos. 1110 through 1200 of such Series 1981-A Bonds are hereby cancelled with instructions to the Comptroller of Public Accounts to cancel such bonds. 2. That due to the cancellation of Bonds Nos. 1110 through 1200, in the amount of $455,000, the maturity schedule for the Series 1981-A Bonds will be as follows: YEARS AMOUNTS 1983 $175,000 1984 175,000 1985 175,000 1.986 200,000 1987 225,000 1988 250,000 1989 275,000 1990 300,000 1991 325,000 1992 350,000 1993 375,000 1994 425,000 1995 450,000 1996 500,000 1997 525,000 1998 550,000 1999 270,000 3. That attached hereto is a true and correct copy of the Debt Retirement Schedule for the City's outstanding General Obligation Bonds and the Series 1981-A Bonds. 4. That the City's employees and officers are hereby directed to do any and all things necessary in order to accomplish the purposes of this Ordinance. 5. That this Ordinance shall become effective upon its passage since this is an authorization for borrowing for capital improvements. N N N N N N N 0 0 0 0 0 0 0 0 CO CO CO CO CO C0 CO CO CO CC) CO CO CO CO C0 CC) CC) CO CO 0 0 0 0 0 0 0 0 CO CO CO t0 C0 CO CO CO CO CO CO CO CO CO O O O CO CO V01()14PbWN OCC) COVa1CJl-P. CA) IN) -+OtOOV010144WN-+ fD fi7 84 CD v fD O -5 c W CU -'-�-�t71 V V ODOCX) CX) OD CX) CX) CX) OCX) CX) CX) CX) NCX) V ONO -Ju Cn NtOCC) rk)OD ONW W cn 01 4Pa 4Da .pc W CA) 4Pa WOW •...) CD C} CO W W CA) -PO-Pa V O `...4 IN) Cn-+010101(,71 COC+J -+W CO CON V.ACC) CTCDCU to to V V V to V V V V V V V Y V V V Y V V V V V PAP CAI JPa01 CA) 000O W -+a) (:)0I.ACDCO01 AW W N01 W 01 01 -+CD. 031 O CTI O V 01 N O 071 -+ O N O -P CO co 1V 01 4Pa V N V co (31 -+ 1.0 CO - • -A. 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Q -' N to kg N C0 01 C0 N O- 0 0 0 V 01 W N N -+ 0 4Pa V CD CD W W CA) -POAV ONV W CO CO P031COCND V NCO CC) cs) kg) -Rkg) kg) a • O up V V to V V V ID V V V Y Y V Y V to V Y V V V V Y (D C1 - N w 01 W OCOCA) W -+W CO COC71-0101 W0101 N.p071-.4N01CT1 O Cb V C7100310 V CAVO NCOCO -+CO CO JPCOO W-+0000 -P -Pt0‘to ct CO 000Oc710010R.VOWOWWcocrl 01010,--A 0001Wcn NO -ARBITRAGE CERTIFICATE HE STATE OF TEXAS OUNTY OF WILLIAMSON CITY OF ROUND ROCK The undersigned, being the duly chosen and qualified Mayor and City Manager, respectively, of the City of Round Mock (the "City"), hereby certify with respect to that issue of City of Round Rock, Texas General Obligation Bonds, Series 1981-A, dated April 1, 1981, in the aggregate prin- cipal amount of $5,545,000, being Bonds Nos. 1 through 1109, being part of a total authorized issue of $6,000,000, (the T'bonds") as follows: 1. That we, along with other officers, are charged with the responsibility of issuing the bonds and expending the proceeds of the bonds. 2. that this certificate and covenant are made pur- suant to Sections 1.103-13, 1.103-14, and 1.103-15 of the :Income Tax Regulations (the "Regulations") of the Internal Revenue Service with respect to arbitrage bonds as described in Section 103(c) of the Internal Revenue Code of 1954, as amended (the "Code"), and the words and phrases used herein have the same meanings as defined and used in the Regulations. ° 3. that this certificate is based on facts, estimates, !i `and circumstances in existence on the date of this certi- icate, which is the date of issue of the bonds, and on such basis it is reasonably expected that the following will occur with respect to the bonds, and, to the best knowledge and belief of the undersigned, such expectations are reason- able: (a) that the bonds are issued for the purpose of improving and extending the City's Waterworks System. (b) that the City will incur, within six months after the date of issue of the bonds, binding obli- gations to commence each of the projects, respectively, to be financed by the bonds, either by entering into contracts for the construction of such projects to be financed by the bonds, or by entering into contracts for architectural or engineering services for such projects, or contracts for land acquisition, site development, purchase of construction materials, or purchase of equipment, for such projects, or in case of services, will commit itself to make an equivalent expenditure for similar services by employees of the City, with the amount to be paid under each such con- tract and commitment with respect to each such project, respectively, to be in excess of two and one-half percent of the portion of the amounts received from the sale of the bonds allocated to each such project, respectively (with the aggregate amounts to be paid under all of such contracts to be in excess of two and one-half percent of all of the amounts received from the sale of the bonds) ; (c) that after entering into said contracts or making such comm_.tments, work on all of such projects will proceed promptly with due diligence to completion.; (d) that all of the amounts received from the sale of the bonds will be expended for the purposes of the bonds by the end of the three-year period beginning on the date of issue of the bonds; (e) that none of the amounts received from the sale of the bonds will be placed in a reserve or replace- ment fund, and, except as provided in (f) and (g), below, none of the amounts received from the sale of the bonds and none of the proceeds of the bonds of any kind will either (i) be placed in a reserve or replace- ment fund, or (ii) be used directly or indirectly to acquire any securities or obligations of any kind; (f) that a separate and special "Interest and Sinking Fund" has been created and established solely to pay the principal of and interest on the bonds, with a portion of such fund constituting a bona fide debt service fund for the bonds, and money deposited into the "Interest and Sinking Fund" for the bonds will not be invested except during the thirteen month period beginning on the date of each such deposit of money, and the amounts received from the investment of money in the "Interest and Sinking Fund" will not be invested except during the one year period beginning on the date of receipt of such amounts; provided, however, and except that, if any money so deposited, and any amounts received from the investment thereof, are accumulated in the "Interest and Sinking Fund" and remain on hand in the "Interest and Sinking Fund" after thirteen months from the date of deposit of any such money or one year after the receipt of any such amounts from the investment thereof, such money and amounts, to the extent of an aggregate not exceeding 15% of the original face amount of the bonds (with the bonds having been sold at face value or par), shall constitute a reasonably required debt service reserve fund for the bonds, and may be invested, and will not be subject to investment yield restrictions, and shall constitute a separate portion of the "Interest and Sinking Fund"; (g) that it is expected that a portion of the "Interest and Sinking Fund" will be used primarily to achieve a proper matching of tax revenues collected for the bonds and debt service on the bonds within each bond year, and it is expected that such portion of the "Interest and Sinking Fund" will be depleted once a year on a first in first out basis, except for a possible carryover amount which will not exceed the greater of one year's earnings on such fund or 1/12 of annual debt service payable from such fund, but any money and amounts which may be accumulated in the "Interest and Sinking Fund", to constitute a debt service reserve fund for the bonds as described in (f), above, shall constitute a separate portion of the "Interest and Sinking Fund", and will not be depleted annually, and will not be subject to yield restrictions; provided that in no event will such debt service reserve fund portion of the "Interest and Sinking Fund" ever exceed 15% of the original face amount of the bonds; (h) That except as provided in (f) and (g), above, no money or amounts will be held or accumulated in or invested from any sinking fund, debt service fund, redemption fund, reserve fund, replacement fund, or similar fund which is reasonably expected to be used to pay principal or interest on the bonds; (i) That none of the projects to be financed by the bonds will be sold or otherwise disposed of, in whole or in part, prior to the final maturity of the bonds; (j) That the amounts received from the sale of the bonds will not exceed the amounts necessary for the governmental purposes of the bonds; (k) that the City has not been notified of any listing of it by the Internal Revenue Service as an issuer that may not certify its bond. g 4. that it is not expected that the proceeds of the bonds will be used in any manner that would cause such obligations to be arbitrage bonds under Section 103(c) of the Code and the Regulations prescribed under that Section, and it is further specifically covenanted that the proceeds of the bonds will not 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 that Section or the Regulations presecribed by that Section. 5. that to our best knowledge and belief there are no other facts, estimates, or circumstances that would materially change the foregoing conclusions or statements. EXECUTED this 26th day of May, 198 City --_ger, ity Round Rock SIGNATURE IDENTIFICATION AND NO -LITIGATION CERTIFICATE THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK We, the undersigned, hereby certify as follows : (a) That this certificate is executed and delivered with reference to that issue of CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1981—A, dated April 1, 1981, in the aggregate principal amount of $5,545,000, being Bonds Nos. 1 through 1109, being part of a total authorized issue of $6,000,000. (b) That we officially executed and signed said Bonds and the interest coupons attached thereto by causing facsimiles of our manual signatures to be imprinted or lithographed on each of said Bonds and interest coupons, and we hereby adopt said facsimile signatures as our own, respectively, and declare that said facsimile signatures constitute our signatures the same as if we had manually signed each of said Bonds and interest coupons. (c) That said Bonds and interest coupons are substantially in the form, and have been duly ex- ecuted and signed in the manner, prescribed in the order, resolution, or ordinance authorizing the issu- ance of said Bonds and interest coupons. (d) That at the time we so executed and signed said Bonds and interest coupons we were, and at the time of executing this certificate we are, the duly chosen, qualified, and acting officers indicated therein, and authorized to execute the same. (e) That no litigation of any nature has been filed or is now pending to restrain or enjoin the issu- ance or delivery of said Bonds or interest coupons, or which would affect the provision made for their payment or security, or in any manner questioning the proceedings or authority concerning the issu- ance of said Bonds and interest coupons, and that so far as we know and believe no such litigation is threatened. (f) That neither the corporate existence nor boundaries of said issuer is being contested, that no litigation has been filed or is now pending which would affect the authority of the officers of said issuer to issue, execute, and deliver said Bonds and interest coupons, and that no authority or proceedings for the issuance of said Bonds and interest coupons have been repealed, revoked, or rescinded. (g) That we have caused the official seal of said issuer to be impressed, or printed, or lithographed on each of said Bonds; and said seal on said Bonds has been duly adopted as, and is hereby declared to be, the official seal of said issuer. UAL SI !y URES f EXECUTED and delivered this 26th day of May, 1981. OFFICIAL TITLES Mayor /V City Secretary (BANK SEAL) The signatures of the officers subscribed above are hereby certified to be true and genuine. First National Bank of Round Rock By Ban uthorized Officer LAW OFFICES McCall, Parkhurst & Horton 1400 Mercantile Bank Building Dallas, Texas 75201 TREASURER'S RECEIPT THE STATE OF TEXAS COUNTY OF WILLIA.MSON CITY OF ROUND ROCK The undersigned hereby certifies as follows: (a) That this certificate is executed and delivered with reference to that issue of CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1981—A, dated April 1, 1981, in the aggregate principal amount of $5,545,000, being Bonds Nos. 1 through 1109, being part of a total authorized issue of $6,000,000. (b) That the undersigned is the duly chosen, qualified, and acting Treasurer of the issuer of said Bonds. (c) That all of said Bonds have been duly delivered to the purchasers thereof, namely: TEXAS WATER DEVELOPMENT BOARD (d) That all of said Bonds have been paid for in full by said purchasers concurrently with the delivery of this certificate, and the issuer of said Bonds has received, and hereby acknowledges receipt of, the agreed purchase price for said Bonds, being the par or principal amount thereof and accrued interest to the date of delivery plus a premium or a discount in the amount necessary to adopt the yield on the bonds to the statutory lending rate of the Texas Water Developuent Board. (e) That all interest coupons representing interest scheduled to come due on said Bonds were attached to said Bonds at the time of delivery thereof ; except that all interest coupons, if any, scheduled to come due prior to the date of delivery of said Bonds were detached and cancelled prior to said delivery. EXECUTED and delivered this 26th day of May, 1981.