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O-77-518 - 12/19/1977GENERAL CERTIFICATE THE STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK We, theundersigned 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 WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1978, dated January 1, 1978, in the principal amount of $1,150,000. 2. That said City is a duly incorporated 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 governing body and the officers of said City; and that no litigation is pending pertaining to, affecting, questioning, or contesting the cur- rent boundaries of said City. 4. That the City complied with the Federal Voting Rights Act of 1975 and the Texas Election Code, and, in more particular, ;Section 1.08a of the Texas Election Code, and that absentee ;voting was conducted as required by the Election Code, all in reference to the City's bond election held on June 4, 1977, which election authorized the bonds. 5. That none of the revenues or income of said City's iWaterworks and Sewer System have been pledged or encumbered to the payment of any debt or obligation of said City or said !System, except in connection with the aforesaid proposed Series 1978 Bonds and the outstanding bonds of the following issue of said City: Waterworks and Sewer System Revenue Bonds, Series 1964 Waterworks and Sewer System Revenue Bonds, Series 1971 Waterworks and Sewer System Revenue Bonds, Series 1973 Utility Revenue Bonds, Series 1975 6. That the following is a true, full and correct schedule of the income and expenses of the Waterworks and Sewer System forthe past three years, to -wit: Income Expense Net Income 9/30/76 275,133 102,245 172,888 9/30/75 181,247 98,463 82,784 7. That the City's water and sewer rates changed since the adoption of the City's water ordinance No. 266, dated October 9, 1975. 9/30/74 109,190 66,218 42,972 have not been and sewer rate 9. That the City is not in default in connection with any of the covenants, conditions, or obligations contained in the ordinance that authorized -the issuance of the aforesaid City's outstanding revenue bonds, and that each of the funds, respectively, created and maintained for the benefit of the outstanding bonds listed herein, contain the amount now required to be on deposit therein, with such amount in each of said funds as follows: Interest and Sinking Fund $21,885 Reserve Fund 46,159 10. That the laws of the State of Texas in force at this time provide permission for the issuance of the bonds. SIGNED AND SEALED the 19th day of December, 1977. C ty Secretary ity of Round Rock, Texas SEAL City of Round Rock, Texas 511 CERTIFICATE FOR ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS THE STATE OF TEXAS ,COUNTY OF WILLIAMSON ;CITY OF ROUND ROCK We, the undersigned officers of said City, hereby certify ii as follows: 1. The City Council of said City convened in SPECIAL (MEETING ON THE 19TH DAY OF DECEMBER, 1977, at the City Hall, and the roll was called of the duly constituted officers and ;members of said City Council, to -wit: Raymond Litton, Mayor Joanne Land, Secretary Tom Lopez Bill Kitts Larry Tonn Bob Griffith Don Wilson Steve Pena and all of said persons were present, except the following [absentees: : ,' Gr2`. thus constituting a quorum. Whereupon, among other 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, pre- !vailed 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 Crdinance 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 minutes.of said Meeting; that the above and foregoing paragraph lis 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 peach of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, ,r of the time, place and purpose of the aforesaid Meeting, and 'that said Ordinance would be introduced and considered for wpassage 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 E that the Mayor and the City Secretary of said City hereby de- `pclare 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 19th day of December, 1977. jC k C ty ecr� s SEAL ORDINANCE AUTHORIZING THE ISSUANCE; OF REVENUE BONDS THE STATE OF TEXAS • COUNTY OF WILLIAMS CITY OF ROUND ROCK WHEREAS, the bonds hereinafter authorized were lawfully and favorable voted at two different bond elections held on May 23, 1970 and June 4, 1977; and WHEREAS, out of the $850,000 bonds voted on May 12, 19.70, $400,.000 has been issued as follows: (a) Waterworks and Sewer System Revenue Bonds, Series 1971, in the aggregate principal amount of $200,000, with $50,000 for constructing extensions and improvements to the City's. Waterworks System, and $150,000. for constructing extensions and improvements to the City's Sewer System; (b) Waterworks and Sewer System Revenue Bonds, Series 1973, in the aggregate principal amount of $150,000,. with $75,000 for constructing extensions and improvements to the City's Waterworks System, and $75,000 for constructing extensions and improvements to the City's Sewer System; (c) Utility System Revenue Bonds, Series 1975, in the aggregate principal amount of $50,000, for constructing improvements and extensions to the City's Sewer System; and WHEREAS, it is necessary and advisable to authorize, issue and deliver all of the remaining voted and unissued bonds from the bond election held on May 23, 1970, being $190,000 for constructing extensions and improvements to the City's Waterworks System and $260,000 for constructing extensions and improvements to the City's Sewer System, together with $535,000 for constructing extensions and improvements to the City's Waterworks System and $165,000 for constructing extensions and improvements to the City's Sewer System from the bonds voted on June 4, 1977; and WHEREAS, the bonds hereinafter authorized and designated were voted and are to be issued and delivered pursuant to Vernon's Articles 1111 through 1118. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS: Section 1. That said City's bonds are hereby authorized to be issued in the aggregate principal amount of $1,150,000, for the purpose of providing $725,000 for constructing exten- sions and improvements to the City's Waterworks System, and providing $425,000 for constructing extensions and improvements to the City's Sewer System. Section 2. That said bonds shall be designated as the CITY OF ROUND ROCK, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1978. Section 3. That said bonds shall be dated January 1, 1978, 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: 1 MATURITY DATE: FEBRUARY 1 YEARS AMOUNTS YEARS AMOUNTS 1979 15,000 1992 30,000 1980 15,000 1993 40,000 1981 10,000 1994 50,000 1982 10,000 1995 65,000 1983 15,000 1996 70,000 1984 15,000 1997 75,000 1985 20,000 1998 80,000 1986 20,000 1999 85,000 1987 20,000 2000 90,000 1988 25,000 2001 100,000 1989 25,000 2002 105,000 1990 30,000 2003 110,000 1991 30,000 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 1979 through 19W, ,% % /-4,14-2" maturities 19 through 197, maturities 19 through 199,x,,5 % maturities 19 through 192z, ;3 maturities 19-- through 19, ; yf maturities 19through 19, ;:5",y maturities 19-- through 19L„% maturities 19`~ through 19 5725' % /1',-e7;1422: ,� p' '� �, �,' �'�° ; 6.0o 4 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 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 WATERWORKS AND SEWER SYSTEM REVENUE BOND SERIES 1978 $5,000 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 on August 1, 1978, and semi-annually thereafter while this bond is outstanding. THE PRINCIPAL of this bond and the interest coupons ap- pertaining 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 Agents for this series of bonds: FARMERS STATE BANK, ROUND ROCK, TEXAS or at the option of the holder at TEXAS BANK AND TRUST COMPANY OF DALLAS, DALLAS, TEXAS THIS BOND is one of a Series dated as of January 1, 1978, issued in the aggregate principal amount of $1,150,000, for the purpose of providing $725,000 for constructing extensions and improvements to the City's Waterworks System, and providing $425,000 for constructing extensions and improvements to the City's Sewer System. ON FEBRUARY 1, 1994, or on any interest payment date thereafter, any outstanding bonds 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, r New York. By the date fixed for 'any such redemption due pro - !,vision shall be made with the Paying Agents 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 published Viand 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, Land 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 Agentt'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 de - 'livered; that all acts, conditions and things required or proper 'to be performed, exist, and be done precedent to or in the au- !thorization, issuance and delivery of this bond have been per- =formed, existed, and been done in accordance with law, that this !bond is a special obligation of said City, and that the princi- pal 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 combined Water - 1 works and Sewer System. SAID CITY has reserved the right, subject to the restric- tions stated, or adopted by reference, in the Ordinance au- thorizing this Series of bonds, to issue additional parity revenue bonds which also may be secured by and made payable from a lien on and pledge of the aforesaid Net Revenues. 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. 3 J' f IN WITNESS WHEREOF, this bond and the interest coupons appertaining hereto have been signed with the facsimile signa- ture 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 xxxxx City Secretary Mayor FORM OFREGISTRATION CERTIFICATE COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined, cer tified as to validity, and approved by the Attorney General of the State of Texas, and that this bond has been registered aby the Comptroller of Public Accounts of the State of Texas. NO. Witness my signature and seal this Comptrol'ler 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 redemption 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, Round Rock, Texas, or at the option of the holder, at_Texas Bank and Trust Company of Dallas, Dallas, Texas, said amount being interest due that day on the bond, bearing the number hereinafter designated of that issue of CITY OF ROUND ROCK, TEXAS WATERWORKS AND SEWER SYSTEM !REVENUE BONDS, SERIES 1978, dated January 1, 1978. 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. . xj xxx City Secretary XXXXx Mayor Section 7. (a) That the term "Outstanding Bonds", as Thereinafter used in this Ordinance, shall mean all of said City's presently outstanding bonds, which are payable from, Viand secured by a first lien on and pledge of, the Net Revenues Sof said City's combined Waterworks and Sewer Systennt A (b) That the bonds authorized hereby are parity "Addi- tional Bonds", as defined in the Ordinance passed on January 23, 1964, authorizing the issuance, sale and delivery of said City's Waterworks and Sewer System Revenue Bonds, Series 1964; dated February 1, 1964. 4 fl (c) That Section 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 au- thorized the outstanding bonds that are applicable, are hereby adopted by reference and shall be applicable to the bonds au- thorized 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 re- quired 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 and sometimes called "Bond Fund")'I' the following: (a) 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 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 re- quired by the ordinances, respectively, authorizing the Out- standing 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 amount of $1,300, until there has been accumulat ed the aggregate amount of $124,159, in said Reserve Fund. 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 as set forth in the ordinances, respectively, authorizing the Outstanding Bonds. Section 10. That the bonds -authorized by this Ordinance 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 author- ized 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 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 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 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 re- quired 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 an purpose of said meeting was given, all as required by Vernon's Ann. Civ. St. Article 6252-17. Section 14. That said bonds are hereby spld and shall be , delivered to �' ze�c°�-��� >�=��;����� �-- L`��- �- 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 purchaser is the highest bidder for said bonds as a result of invitations for competitive bids, and 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 December 8, 1977, 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 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 15. That this Ordinance shall become effective upon its passage, since this is an authorization for borrowing for capital improvements. 6