O-80-772 - 8/25/1980CERTIFICATE FOR ORDINANCE
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
IhE 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 25TH DAY OF AUGUST, 1980, 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
Lawrence "Hank" Hester
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 GENERAL OBLIGATION
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".
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
Certificate; 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
;j notified officially 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
'4 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 25th day of Au
V2ML/
y Secretary ' '""ayor
SEAL
ORDINANCE
AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
nit, STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF ROUND ROCK
WHEREAS, the bonds hereinafter authorized were lawfully
and favorably voted at elections duly held in said City on
November 2, 1974, December 2, 1978, and November 6, 1979;
and
WHEREAS, out of bonds aggregating in the amount of
$400,000 voted at the City's election held on November 2,
1974, the City has duly issued $330,000 thereof, represented
by the City's bonds designated as Series 1975; and
WHEREAS, out of bonds aggregating in the amount of
$5,000,000 voted at the City's election held on December 2,
•
1978, the City has duly issued $1,950,000 thereof, represented
by the City's bonds designated as Series 1979, to -wit:
$980,000 for constructing and improving the City's streets
and purchasing right of way therefor, $95,000 for improving
and permanently equipping the City's parks, $170,000 for
acquiring a site for a sewer treatment plant, providing
$550,00 for constructing and permanently equipping a municipal
library building and providing $155,000 for acquiring,
constructing and equipping a fire station; and
WHEREAS, out of bonds aggregating in the amount of
$500,000 voted at the City's election held on November 6,
1979, the City has duly issued $375,000 thereof, represented
by the City's bonds designated as Series 1980, to -wit:
$25,000 for constructing and improving the City's streets
and purchasing right of way therefor, and $350,000 for
improving and extending the Waterworks System; and
WHEREAS, it is necessary and advisable to authorize,
issue and deliver an installment or series of said bonds;
and
WHEREAS, the bonds hereinafter authorized and designated
were voted and are to be issued and delivered pursuant to
Art. 1175 V.A.T.C.S.
ROCK:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND
Section 1. That said City's bonds are hereby authorized
to be issued in the aggregate principal amount of $2,000,000
for the purpose of providing $70,000 for constructing bridge
improvements for the Georgetown Street Bridge, providing
$1,200,000 for constructing and improving the City's streets
and purchasing right of way, providing $80,000 for improving
and permanently equipping the City's parks, providing $500,000
for acquiring, and permanently equipping a fire station, and
providing $150,000 for constructing street drainage improve-
ments of said City.
Section 2. That said bonds shall be designated as the
CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES
1980-A.
Section 3. That said bonds shall be dated September 1,
1980, 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:
MATURITY DATE: AUGUST 1
YEARS AMOUNTS YEARS AMOUNTS
1983 $25,000 1992 $125,000
1984 25,000 1993 125,000
1985 25,000 1994 125,000
1986 25,000 1995 200,000
1987 25,000 1996 200,000
1988 25,000 1997 225,000
1989 25,000 1998 225,000
1990 25,000 1999 225,000
1991 100,000 2000 250,000
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 1982 through 19 ,
maturities 19 through 19_,
maturities 19 through 19,
maturities 19 through 19 ,
maturities 19 through 19
maturities 19 through 19,
maturities 19 through 19_,
maturities 19 through 19 ,
maturities 19_ through 19,
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 the 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 printed 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:
NO.
FORM OF BOND
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF ROUND ROCK, TEXAS
GENERAL OBLIGATION BOND
SERIES 1980-A
$5,000
ON AUGUST 1, , THE CITY OF ROUND ROCK, 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
on February 1, 1982, and semiannually 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, 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 September 1,
1980, authorized, issued and delivered in the principal
amount of $2,000,000 for the purpose of providing $70,000
for constructing bridge improvements for the Georgetown
Street Bridge, providing $1,200,000 for constructing and
improving the City's streets and purchasing right of way,
providing $80,000 for improving and permanently equipping
the City's parks, providing $500,000 for acquiring, and
permanently equipping a fire station, and providing $150,000
for constructing street drainage improvements of said City.
ON AUGUST 1, 1995, 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
provision shall be made with the Paying Agent for the payment
of the principal amount of the bonds 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 bonds which are to be so redeemed thereby automatic-
ally 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 outstand-
ing except for the right of the bearer to receive the redemp-
tion 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, authorizaton, issuance and
delivery of this bond have been performed, existed, and been
done in accordance with law; that this bond 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 bond, as such interest comes due and such prinicpal
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.
IT WITNESS WHEREOF, this bond and the interest coupons
apppertaining 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.
xxxxx
City Secretary 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.
NO.
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, COUNTY OF WILLIAMSON, STATE OF
TEXAS, promises to pay to bearer hereof the amount shown of
this interest coupon, in lawful money of the United States
of America, without exchange or collection charges to the
bearer hereof, unless due provision has been made for the
redemption prior to scheduled maturity of the bonds to which
the interest coupon appertains, upon presentation and surren-
der of this interest coupon, at the FARMERS STATE BANK,
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
GENERAL OBLIGATION BONDS, SERIES 1980-A, dated September 1,
1980. Bond No.
XXXXX xxXXX
City Secretary Mayor
Section 7. That a special "Interest and Sinking Fund"
is hereby created solely for the benefit of said bonds, and
said Interest and Sinking Fund shall be established and
maintained by said 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 bonds. All ad valorem taxes levied and
collected for and on account of said bonds shall be deposited,
as collected, to the credit of said Interest and Sinking
Fund. During each year while any of said bonds or interest
coupons appertaining thereto are outstanding and unpaid, the
governing body 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 bonds as such interest comes due, and to provide and
maintain a sinking fund adequate to pay the principal of
such bonds as such principal matures (but never less than 2%
of the original amount of said bonds as a sinking fund each
year); and said tax shall be based on the latest approved
tax rolls of said City, with full allowance 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 bonds 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 bonds, as
such interest comes due and such principal matures, are
hereby pledged irrevocably for such payment, within the
limit prescribed by law.
Section 8. 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 registraton 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 printed and endorsed
on each of said bonds, and the seal of said Comptroller
shall be placed in facsimile, on each of said bonds.
Section 9. 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 afore-
said Section 103(c), or any regulations or ruling pertaining
thereto.
Section 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
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, as
amended.
Section 11. That said bonds are hereby sold and shall
be delivered to for cash for the par value thereof and
accrued interest thereon to the date of delivery, plus a
premium of $ —0— . It is hereby officially found, deter-
mined and declared that said purchaser is the highest and
best bidder for for said bonds and that said bonds have been
sold at public sale to the bidder offering the lowest net
interest cost after receiving bids pursuant to an Official
Notice of Sale and Official Statement, dated July 24, 1980,
prepared and distributed in connection with the sale of the
bonds. Said Official Notice of Sale and Official Statement
have been and are hereby approved by the City Council. It
is further officially 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 12. That this Ordinance shall become effective
upon its passage, since this is an authorization for borrowing
for capital improvements.
GENERAL CERTIFICATE
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF ROUND ROCK
We, the undersigned officers of said City, hereby certify
as follows:
1. That this certificate is executed for and on behalf
of said City with reference to the issuance of the proposed
CITY OF ROUND ROCK, TEXAS GENERAL OBLIGATION BONDS, SERIES
1980-A, dated September 1, 1980, in the principal amount of
1 $2,000,000.
2. That said Cit is dulyincorporated Y a Home Rule City,
having more than 5000 inhabitants, operating and existing under
the Constitution and laws of the State of Texas and the duly
adopted Home Rule Charter of said City, which Charter has not
been changed or amended since its adoption on August 13, 1977.
3. That no litigation of any nature has ever been filed
pertaining to, affecting, questioning, or contesting: (a) the
ordinance which authorized said City's proposed bonds described
in paragraph 1 of this certificate; (b) the issuance,
execution, delivery, payment, security or validity of said
proposed bonds, (c) the authority of the City Council and the
officers of said City to issue, execute and deliver said bonds,
(d) the validity of the corporate existence of said City, or
(e) the current tax rolls of said City; and that no litigation
is pending pertaining, affecting, questioning, or contesting
the current boundaries of said City.
4. That attached to this certificate and marked Exhibit
A is a true, full and correct schedule and statement of the
aforesaid proposed bonds, and of all presently outstanding
bonds of said City.
5. That in all matters relating to ordering, giving
a notice, and holding the election at which the proposed bonds
were authorized, the City complied with the Federal Voting
Rights Act of 1975, and the applicable parts of the Texas
Election Code, including particularly Section 1.08 of the Texas
Election Code pertaining to bilingual requirements.
6. That the currently effective ad valorem tax rolls of
said City are those for the year 1979, being the most recently
approved tax rolls of said City; that said City has caused the
taxable property in said City to be assessed as required by
law; that the Board of Equalization of said City has equalized
and approved the valuation of taxable property in said City for
said year; that the tax assessor of said City has duly verified
the aforesaid tax rolls, and said Board of Equalization has
finally approved the same; and that the assessed value of
taxable property in said City upon which the annual ad valorem
tax of said City actually has been or will be levied (after
deducting the amount of all exemptions, if any, under Section
1-b(b), and Section 2(b) of Article 8 of the Texas
Constitution, and Article 7150h, V.A.T.C.S.), according to the
aforesaid tax rolls for said year, as delivered to the City
Secretary of said City, and finally approved and recorded by
the City Council of said City, is $127,212,478.
SIGNED AND SEALED this the 25th day of°ugust, 1980.
y Secretary ayor
SEAL
EXHIBIT A
General Obligation Bonds, Series 1980-A, dated September 1, 1980,
to be outstanding in the principal amount of $2,000,000, bearing
interest and maturing in the amounts and on the dates as stated
in the ordinance authorizing said bonds.
General Obligation Bonds, Series 1980, dated 5/1/80, now outstand-
ing in the principal amount of $375,000, bearing interest and ma-
turing in the amounts on August 1 of the years as follows:
10.50%: 30M-82/83
10.00%: 35M-84/85
9.25%: 40M-86
9.00%: 45M-87; 50M-88; 55M-89/90
General Obligation Bonds, Series 1970, dated 9/1/70, now
outstanding in the principal amount of $17,000, bearing
interest and maturing in the amounts on December 15 of
the years as follows:
6.00%: 6M-80-81; 5M-82
General Obligation Bonds, Series 1975, dated 8/1/75, now
outstanding in the principal amount of $319,000, bearing
interest and maturing in the amounts on August 1 of the
years as follows:
5.00%; 3M-81/83;
6.50%: 1OM-84
5.00%: 10M-85/90; 15M-91/99; 20M-2000/02; 25M-03;
20M-04
Certificates of Obligation, Series 1975, dated 8/1/75, now
outstanding in the principal .amount of $59,000, bearing
interest and maturing in the amounts on August 1 of the
years as follows:
5.00%: 2M-81/2002; 3M-2003/07
Certificates of Obligation, Series 1976, dated 7/15/76, now
outstanding in the principal amount of $35,000, bearing
interest and maturing in the amounts on July 15 of the years
as follows:
5.00%: 5M-81/87
Certificates of Obligation, Series 1978, dated 9/1/78, now
outstanding in the principal amount of $295,000, bearing
interest and maturing in the amounts on February 1 of the
years as follows:
5.65%: 5M-81-82; 10M-83-84; 20M-84/87; 25M-88;
30M-89/94
General Obligation Bonds, Series 1979, dated 5/1/79, now
outstanding in the principal amount of $1,950,000, bearing
interest and maturing in the amounts on July 1 of the years
as follows:
7.90%: 25M-81/83; 50M-84/86;
6.90%: 50M-87
5.40%: 50M--88; 75M-89-90
5.45%: 75M-91
5.50%: 75M-92
5.55%: 100M-93
5.60%: 100M-94
5.70%: 100M-95
5.80%: 100M-96
5.90%: 100M-97
6.00%: 125M-98
6.10%: 125M-99
6.20%: 125M-2000
6.25%: 150M-01/03
Certificates of Obligation, Series 1979, dated December 1,
1979, now outstanding in the principal amount of $270,000,
bearing interest and maturing in the amounts on July 1 of
the years as follows:
8.00°/,: 15M-82/85; 20M-86-87
6.75%: 20M-88
6.80%: 20M-89
6.90%: 25M-90
7.00%: 25M-91-92; 30M-94
AFFIDAVIT OF POSTING
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF ROUND ROCK
BEFORE ME, a notary public in and for the above named
County, on this day personally appeared the Affiant whose
name is subscribed below, who, having been duly sworn says
upon oath that on 8-19 , 1980, a true and correct copy
of the attached and following NOTICE OF ELECTION was duly
posted in the above named City at each of the public places
as follows:
City Hall
Farmer State Bank
First National Bank
SUBSCRIBED AND SWORN TO BEFORE ME on Sept. 8 , 1980.
N•�tary Public
M Commission expires:
-Z5 , 19801
NOTARY PUBLIC SEAL
NO -ARBITRAGE CERTIFICATE
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF ROUND ROCK
The undersigned, being the duly chosen and qualified
Mayor and City Manager, respectively, of the City of Round
Rock (the "City"), hereby certify with respect to that issue
of City of Round Rock, Texas General Obligation Bonds,
Series 1980-A, dated September 1, 1980, in the principal
amount of $2,000,000 (the "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,
and circumstances in existence on the date of this certi-
ficate, 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
constructing and improving the City's streets, improving
and permanently equipping the City's parks, acquiring,
constructing and permanently equipping a fire station,
constructing street drainage improvements and for
constructing bridge improvements;
(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 commitments, 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.
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
City Manager, C
Round Rock
(SEAL)
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 1980—A, clated September 1, 1980, in the
principal amount of $2,000,000.
(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 seeurity, 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.
EXECUTED and delivered this
iNUAL SI NA RES OFFICIAL TITLES
/2-/A,
(BANK SEAL)
Mayor
City Secretary
The signatures of the officers subscribed above
are hereby certified to be true and genuine.
First Natio Bank of Round Rock
Authorized Officer
LAW OFFICES
McCall, Parkhurst & Horton
1400 Mercantile Bank Building
Dallas, Texas 75201