4B-R-99-01 - 8/26/1999 RESOLUTION NO. R-99-01
WHEREAS, the Round Rock Transportation System Development
Corporation ("RRTSDC" ) expects to pay expenditures in connection
with acquiring certain property and construction improvements (the
"Property" ) , as listed in the attached Exhibit "A" , prior to the
issuance of obligations to finance the Property; and
WHEREAS, the RRTSDC finds, considers, and declares that the
reimbursement of the RRTSDC for the payment of such expenditures
will be appropriate and consistent with the lawful objectives of
the RRTSDC 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 Property; Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
I.
That the RRTSDC reasonably expects to incur debt, as one or
more separate series of various types of obligations, with an
aggregate maximum principal amount equal to $7, 660, 000 for the
purpose of paying the costs of the Property.
II.
That all costs to be reimbursed pursuant hereto will be
capital expenditures . No tax-exempt obligations will be issued by
K:\WPDOCS\RESOLUTI\RRTSDC\9901.WPD/BCg
the RRTSDC 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.
III.
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.
IV.
Boand, Dututcazii
The �Cou 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, and the Act .
RESOLVED this 26th day of August, 1999 .
ROUND ROCK TRANSPORATION SYSTEM
DEVELOPMENT CORPORATION
WI,
By:ATTEST:
GAY1 MANBECK, Secretary
2 .
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EXHIBIT "A"
Projects and Estimated Reimbursable Costs
Turnaround Lanes at IH35/FM1325 $3,100,000
US 79 Improvements $2,060,000
South Mays Street Improvements $2,500,000
August 26, 1999
Item No. 9
Consider a resolution expressing official intent to reimburse costs of acquiring property and
construction improvements. Following are the:
Projects and Estimated Reimbursable Costs
Turnaround Lanes at IH35/FM1325 $3,100,000
US 79 Improvements $2,060,000
South Mays Street Improvements $2,500,000