R-2017-4259 - 3/9/2017 RESOLUTION NO. R-2017-4259
RESOLUTION EXPRESSING OFFICIAL INTENT TO REIMBURSE CERTAIN
EXPENDITURES OF THE CITY OF ROUND ROCK, TEXAS
WHEREAS, the City Council of the City of Round Rock, Texas (the "Issuer") expects to pay
expenditures in connection with the projects described on Exhibit "A" attached hereto (the "Project")
prior to the issuance of obligations to finance the Project; and
WHEREAS, the Issuer finds, considers and declares that the reimbursement of the Issuer for
the payment of such expenditures will be appropriate and consistent with the lawful objectives of the
Issuer and, as such, chooses to declare its intention, in accordance with the provisions of Section
1.150-2 of the Treasury Regulations, to reimburse itself for such payments at such time as it issues
obligations to finance the Project,Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
Section 1. The Issuer reasonably expects to incur debt, as one or more separate series of
various types of obligations, with an aggregate maximum principal amount not to exceed the amounts
set forth in Exhibit "A" for the purpose of paying the costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax-
exempt obligations will be issued by the Issuer in furtherance of this Resolution after a date which is
later than 18 months after the later of(1) the date the expenditures are paid or (2) the date on which the
property, with respect to which such expenditures were made, is placed in service.
Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant
to this Resolution more than three years after the date any expenditure which is to be reimbursed is
paid.
0112.1704;00373552
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 9th day of March, 2017.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
- �3ML- v
SARA L. WHITE, City Clerk
2
EXHIBIT A
The construction of a two story, approximately 50,000-square foot Public Works Facility
located at 910 Luther Peterson, and the payment of any professional services in connection therewith
including engineering, legal and other related costs. This facility will house the administrative, field
and shop functions of Transportation and Utilities. The funding for this facility will be shared by both
Utility Fund Revenues and General Fund Revenues at approximately fifty percent each upon
completion. The proposed Certificates of Obligation Bonds for this project will be $7,000,000. This
resolution will allow the project to move forward using existing cash and then reimburse the funds
once the bonds are issued.
PUBLIC WORKS FACILITY
Preliminary Schematic Design
VEW
rW
Lr
44
3