4B-R-07-01 - 2/22/2007 RESOLUTION NO. R-07-01
WHEREAS, the Board of Directors of the Round Rock Transportation
System Development Corporation ("RRTSDC") hereby finds and determines
that there is an urgent need for the City to construct improvements to
the City' s transportation system, and
WHEREAS, such capital improvements cannot be reasonably financed
unless financial assistance is obtained from the State Infrastructure
Bank, and
WHEREAS, the Board of Directors of the RRTSDC now desires to
request financial assistance in an amount not to exceed $16, 000, 000,
Now Therefore
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK
TRANSPORTATION SYSTEM DEVELOPMENT CORPORATION, THAT
The Board hereby authorizes the President to execute appropriate
documents to make a request for financial assistance to the State
Infrastructure Bank in an amount not to exceed $16, 000, 000 to provide
for the costs of construction of improvements to the City of Round
Rock' s transportation system.
The Board of Directors 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.
0:\wdox\RESOLUTI\rrtsdc\0701.WPD/rmo
•
RESOLVED this 22nd day of February, 2007 .
ROUND ROCK SPOR ATION SYSTEM
DEVELO f ' ' .••7 •
By: • z
• r� President
ATTEST:
dop
, , �` �' / Secretary
2
DATE: February 15, 2007
SUBJECT: Transportation System Development Corporation Board-February 22, 2007
ITEM: 6.B. Consider a resolution authorizing the Corporation to request financial
assistance from the State Infrastructure Bank in an amount up to
$16,000,000 for the construction of the IH-35 Frontage Road
Collector/Distributor and Hesters Crossing Bridge Replacement Project.
Cindy Demers, Finance Director will make the staff presentation.
Obtaining a State Infrastructure Bank (SIB) Loan for this project will facilitate timely
construction of IH 35 Frontage Road Collector/Distributor and Hester's Crossing Bridge
Replacement without adversely impacting other scheduled projects on the TCIP. SIB loans
offer favorable terms, including a secondary lien position to bonded debt. The load is for
funds up to $16,000,000. This project is included in the corporation's currently approved
Transportation Capital Improvement Program.