R-04-05-13-13C1 - 5/13/2004RESOLUTION NO. R -04-05-13-13C1
WHEREAS, the City of Round Rock desires to negotiate the sale of
its $20,000,000 General Obligation Bonds, Series 2004, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That First Southwest Company, Austin, Texas, is authorized and
requested to prepare a Preliminary Official Statement containing
financial,
economic and other data necessary and desirable to
facilitate the sale of said Bonds and to distribute said Preliminary
Official Statement to the prospective underwriters of the Bonds.
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 13th day of May, 2004.
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NYL
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Ci y 'Round Rock, Texas
CHRISTINE R. MARTINEZ, City Secret y
@PFDesktop\,:0DMANORLDOX/0:NDOX/RESOLUTI/R40513C1.WPD/sc
DATE: May 7, 2004
SUBJECT: City Council Meeting - May 13, 2004
ITEM: 13.C.1. Consider a resolution authorizing First Southwest Company
to proceed with the preparation of bond offering documents
for $20 million in General Obligation Bonds, Series 2004.
Department: Finance Department
Staff Person: David Kautz, Assistant City Manager/Chief Financial Officer
Cindy Demers, Finance Director
Justification: The General Obligation Bonds were authorized by voters in 2001
and will fund improvements for police and fire services, parks and
recreation, downtown, streets and infrastructure.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: First Southwest
Background Information:
Public Comment: N/A
In November 2001 the voters of Round Rock
authorized $89.8 million in general obligation bonds.
The City has previously issued $35 million of the
authorization. This is the 2nd issuance and will leave
a remaining $34.8 million in authorized but unissued
bonds. All projects in the authorization continue to
remain on schedule.
The issuance of these obligations is not expected to
adversely affect the City's excellent credit rating
because of the City's strong financial position and
debt capacity.