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Contract - Fern Bluff MUD - 5/27/2021THIRD AMENDMENT TO THE WASTEWATER SERVICE AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND FERN BLUFF MUNICIPAL UTILITY DISTRICT THIS THIRD AMENDMENT TO THE WASTEWATER SERVICE AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND FERN BLUFF MUNICIPAL UTILITY DISTRICT (the "Third Amendment") is dated and entered into as of the 2ltday of KAAU , 2021, by and between the City of Round Rock, Texas ("Round Rock") a home -rule municipality (the "City") and Fern Bluff Municipal Utility District, (the "District"). RECITALS WHEREAS, Round Rock and the District have entered into that certain Wastewater Service Agreement Between the City of Round Rock and. Fern Bluff Municipal Utility District, (the "Agreement") effective as of December 8, 2009; and WHEREAS, Exhibit "A" to the Agreement sets forth the debt service payments to be made by the District to Round Rock for the purposes of the District Capital Charge; and WHEREAS, the Agreement provides for the District to fund its share of Required Improvements; and WHEREAS, the permit issued by the Texas Commission on Environmental Quality ("TCEQ") requires the System to be improved in order to treat wastewater to a higher standard; and WHEREAS, Required Improvements to the System are currently under construction which will meet the requirements of TCEQ; and WHEREAS, pursuant to §6.09(a)(iv) of the Agreement, the District has elected to not pay cash for its share of the cost of the Required Improvements; and WHEREAS, Round Rock has agreed to pay the District's share of the cost of the Required Improvements on condition that Round Rock recover its cost, plus interest from the District, in the form of a Required Improvements Charge; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the sufficiency of which are hereby conclusively acknowledged, and subject to the terms and conditions hereinafter set forth, Round Rock and the District mutually agree to approve this Third Amendment, which shall read as follows: �-Zv2l 00469497. DOCX Section 1.1 ARTICLE 1 DEFINITIONS WM All terms used herein shall have the meanings assigned to them in the Agreement, unless the context clearly requires otherwise. "TCEQ Required Improvements" means the improvements required by the TCEQ to enable System to treat the wastewater to a higher standard as required by the permit issued by TCEQ,. TCEQ Required Improvements meet the definition of a "Required Improvement" in Agreement. ARTICLE II DISTRICT'S CONSENT the The the Section 2.1 Pursuant to §6.09(a)(iv) of the Agreement, the District hereby acknowledges that it If has previously consented to the construction of the TCEQ Required Improvements. ARTICLE III REQUIRED IMPROVEMENTS CHARGE -- Section 3.1 Pursuant to §6.09(a)(iv) of the Agreement., the District elects to not pay cash for its share of the construction cost of the TCEQ Required Improvements. Round Rock has elected to not issue additional debt for the District's share of the costs, but has elected to pay cash* Accordingly, the District and Round Rock have agreed to amend Exhibit A, of the Agreement to add the District's share of the TCEQ Required Improvements as a Required Improvements Charge to its schedule of debt owed to Round Rock. ARTICLE IV AMENDED EXHIBIT A Section 4.1 The document marked "Exhibit A", entitled "City of Round Rock Texas, 2016 Refunding, 2017 Refunding, and 2021 Required Improvements Charge for Fern Bluff MUD Portion Only" attached to and incorporated herein replaces the previous "Exhibit A" attached to the Agreement. Everywhere the Agreement refers to "Exhibit A," it is agreed that henceforth it will be understood to refer to the attached "Ex.hi'bit A". Section 5.1 ARTICLE V MISCELLANEOUS To the extent necessary to effect the terms and provisions of this Third Amendment., the Agreement is hereby amended and modified. In all other respects, the aforesaid Agreement is hereby ratified and confirmed. Section 5.2 This Third Amendment may be executed in counterparts, each of which shall be an original and all of which together shall constitute but one and the same instrument. 0j IN WITNESS WHEREOF, the parties hereto acting under authority of their respective governing bodies have caused this Third Amendment to be duly executed as of the day and year First above written. FERN BLUFFXUNICIPAL UTILITY DISTRICT By: -Y President 6-01 st: cretary jts Attest: By: Sara White, City Clerk CITY OF UND ROCK, TEXAS By: 7 A V Craig -Mo/gan, Mfor 9�� Exhibit A "City of Round Rock Texas, 2016 Refunding,. 2017 Refunding, and 2021 Required Improvements Charge for Fern Bluff MUD Potion Only" 51 of Round Rock, Texas -City $3531855000 Utility System Revenue Refunding Bonds, Series 2016 Fern Bluff MUD Portion Debt Service Schedule Part I of 2 Date Principal Coupon Interest Total P+1 Fiscal Total 08/01/2020 - - 02/01/2021 14,950.00 14,950.00 08/01/2021 - - 141950.00 14,950.00 - 09/30/2021 - - - 29)900.00 02/01/2022 - - 14,950.00 14,950.00 08/01/2022 - - 141950.00 14)950.00 - 09/30/2022 - - - - 29,900.00 02/01/2023 - 14,950.00 14,950.00 - 08/01/2023 - 14)950.00 14,950.00 - 09/30/2023 29,900.00 02/01/2024 14,950.00 14,950.00 - 08/01/2024 14)950.00 14,950.00 - 09/3012024 - 29,900.00 02/01/2025 - 14,950.00 14,950.00 - 08/01/2025 65,000.00 5.000% 14�950.00 79,950.00 - 09/30/2025 - - - - 94,900-00 02101/2026 - - 13$325.00 13,325.00 - 08/101/2026 70,000.00 5.000% 13,325.00 83,325.00 - 09/30/2026 - - - - 96,650.00 02/01/2027 - - 11,575.00 11)575.00 - 08/01/2027 70,000.00 2.500% 111575.00 81,575.00 - 09/30/2027 - - - - 93,150.00 02/01/2028 - - 101700.00 10,700.00 - 08/01/2028 7500.00 2.500% 10)700.00 85,700.00 - 09/30/2028 - - - - 96,400.00 02/01/2029 - - 9)762.50 9)762.50 - 08/01/2029 75,000.00 2.750% 9,762.50 84,762.50 - 09/3012029 - - - - 94,525.00 02/01/2030 - 8,731.25 8,731.25 - 08/01/2030 75)000.00 2.750% 8,731.25 83,731.25 09/30/2030 - - - 927462.50 02/01/2031 - - 71700.00 7,700,00 - 08/01/2031 80,000.00 3.000% 71700.00 87,700.00 - 09/30/2031 - - - - 95,400.00 02/01/2032 61500.00 6,500.00 08/01/2032 Y 80,000.00 3.000% 6,500.00 86)500.00 - 09/30/2032 - - - 931,000.00 02/0112033 - 5,300.00 5,300.00 - 08/01/2033 85,000.00 4.000% 5,300.00 90,300.00 - 09/30/2033 - - - - 9500.00 2016 Utility Rev Ref alto Fern Bluff MUD 1 4/ 512021 1 10:13 AM Specialized Public Finance Inc. Austin, Texas Paqel City of Round Rock, Texas $35)1855000 Utility System Revenue Refunding Bonds, Series 2016 Fern Bluff MUD Portion Debt Service Schedule Part 2 of 2 Date Principal Coupon Interest Total P+1 Fiscal Total 02/01/2034 - - 08/01/2034 90,000.00 4.000% 09/30/2034 - - 02/01/2035 - - 08/01/2035 90,000.00 4.000% 32600.00 3,600.00 - 1)800.00 1,800.00 3,600.00 931)600.00 1,800.00 91,800.00 - 97,200.00 - - 09/30/2035 - - - - 93,600.00 Total $855,000.00 S307,487.50 $1,162,487.50 - Yield Statistics Bond Year Dollars $8,815.00 Average Life 10.310 Years Average Coupon 3.48823030/'o DVOI 728.75 Net Interest Cost (NIC) 3.4882303% True Interest Cost (TIC) 3.4807094% Yield for Arbitrage Purposes 3.4615175% -Bond All Inclusive Cost (AIC) 3.4807094% IRS Form 8038 Net Interest Cost 3.4882303% Weighted Average Maturity 10.310 Years 2016 Utility Rev Ref alto I Fern Bluff MUD 1 415/2021 1 10:13 AM Specialized Public Finance Inc. Austin, Texas Paqe 2 City of Round Rock, Texas $32)78500 Utility System Revenue Refunding Bonds, Series 2017 Fern Bluff MUD Portion Debt Service Schedule Part I oft Date Princip I Coupon Interest Total P+1 Fiscal Total 08/01/2020 - - 02/01/2021 - 133,625.00 13,625.00 08/01/2021 45,000.00 5.000% 13,625.00 58,625.00 - 09/30/2021 - - - 72)250.00 02/01/2022 - - 12,500.00 12,500.00 - 08/01/2022 50,000.00 5.000% 12,500.00 62,500.00 - 09/30/2022 - - - - 75.1000.00 02/01/2023 - - 11,250.00 11,250,00 - 08/01/2023 50,000.00 5.000% 11,250.00 61 ,250.00 - 09/30/2023 - - 72,500.00 02/01/2024 - - 10,000.00 10,000.00 - 08/01/2024 60,000.00 5.000% 10,000.00 70,000-00 - 09/30/2024 - - - - 80,000.00 02/01/2025 8,500.00 8,500.00 - 08JOI/2025 8,500.00 8,500.00 09/30/2025 - - 17,000.00 02/01/2026 8,500.00 8,500.00 08/01/2026 8,500.00 8,500.00 - 09/30/2026 - - 17,000.00 02/01/2027 - - 8,500.00. 8,500.00 - 08/01/2027 8,500.00 8,500.00 - 09/30/2027 - - 17)000.00 02/01/2028 8,500.00 8,500.00 - 08/01/2028 8,500.00 8,500.00 - 09/30/2028 - - 17,000.00 02/01/2029 8,500.00 8,500.00 - 08/01/2029 8,500.00 8,500.00 - 09/30/2029 - - 17)000.00 02/01/2030 8,500.00 8,500.00 - 08/01/2030 ---------- 8)500.00 8,500.00 09/30/2030 - - - 17,000.00 02/01/2031 - 8,500.00 8,500.00 08/01/2031 - 8,500.00 8.1500.00 - 09/30/2031 - - - 17,000.00 02/01/2032 8,500.00 8,500.00 08/01/2032 - 83500.00 8,500.00 - 09/30/2032 - - - 17)000.00 02/01/2033 - 8,500.00 8,500.00 - 08/01/2033 - 8,500.00 8,500.00 - 09/30/2033 - - - 17,000-00 2017 Utility Rev Ref alto Fern Bluff MUD 1 4/ 5/2021 1 10:17 AM Specialized Public Finance Inc. Austin, Texas Paqe 1 City of Roland Rock, Texas $32578511000 Utility System Revenue Refunding Bonds, Series 2017 Fern Bluff MUD Portion Debt Service Schedule Part 2 of 2 Date Principal Coupon Interest Total P+I Fiscal Total 02/01/2034 - - 8,500.00 8,500.00 - 08/01 /2034 - - 8,500.00 8,500.00 - 09/30/2034 - - - - 17,000.00 02/01 /203 5 - - 8.1500.00 8,500.00 - 08/01/2035 - - 8,500.00 8,500.00 - 09/30/2035 - - - - 17,000.00 02/01 /2036 - - 8,500.00 8,500.00 - 08/01/2036 100,000.00 4.250% 8,500.00 108,500.00 - 09/30/2036 - - - - 117,000.00 02/01/2037 - 6,375.00 _ 6,375.00 - _- _ 08/01 /2037 95,000.00 4.250% 6,375.00 101,375.00 - 09/30/2037 - - - - 107,750.00 02/01/2038 - - 4,356.25 4,356.25 - 08/01 /2038 100,000.00 4.250% 4,356.25 104,3 56.25 - 09/30/2038 - - - - 108,712.50 02/01/2039 - - - __._____. - - 2,231.25 2,231.25 - 08/01/2039 105,000.00 4.250% 2,231.25 107,231.25 - 09/30/2039 - - - - 109,462.50 Total $605,000.00 - $324,675.00 $929,675.00 - Yield Statistics Bond Year Dollars S7,545.00 A_ a e Life - --- . _ 12.471 Years Average Coupon ___ 4.3031809% DVO I 542.05 Net Interest Cost (NIC) 4.3031809% True Interest Cost (TIC) _ 4.3192370O10 .Bond Yield for Arbitrage Purposes _ 4.3635779% All Inclusive Cost (AIC 4,3192370% IRS Form 8038 Net Interest Cost 4.3031809% Weighted Average Maturity 12.471 Years 2017 Utility R©v Ref alto ( Fern Bluff MUD 1 4/ 5/2021 1 10:17 AM Fern Bluff Municipal Utility District $402,000 Required Improvements Charge - East Plant Project, Series 2021 Final Debt Service Schedule Part 1 of 2 Date Principal Coupon Interest Total P+l Fiscal Total 02/01 /2021 - - - - - 08/01/2021 - - 3,618.00 3,618.00 - 09/30/2021 - - - - 3,618.00 02/01/2022 19,000.00 1.800% 3,618.00 22,618.00 - 08101/2022 - - 3,447.00 3,447.00 - 09/30/2022 - - - - 26,065.00 02/01/2023 19,000.00 1.800% 3,447.00 22,447.00 - 08/01/2023 - - 3,276.00 3,276.00 - 09/30/2023 - - - - 25,723,00 02/01/2024 20,000.00 1.800% 3,276.00 23,276.00 - 08101 /2024 -- 3,096.00 3,096.00 - 09/30/2024 - - - - 26,372.00 02/01/2025 20,000.00 1.800% 3,096.00 23,096.00 - 08/01/2025 - - 2,916.00 2,916.00 - 09/30/2025 - - - - 26,012.00 02/01/2026 21,000.00 1.800% 2,916.00 237916.00 - 08/01/2026 - - 2,727.00 2,727.00 - 09/30/2026 - - - - 26,643.00 02/01/2027 21,000.00 1.80001'0 2,727.00 23,727.00 - 08/01/2027 - - 2,538.00 2,538.00 _ - 09/30/2027---___.___ ___Y.__ _.___..._ w_____.__ - - _ 26,265.00 02/01/2028 21,000.00 1.800% 2,538.00 23,538.00 - 08/01/2028 - - 2,349.00 2,349.00 - 09/30/2028 - - - - 25,887.00 02/01 /2029 _ 22,000.00 1.800% 2,349.00 24,349.00 _ 08/01/2029 - - 2,151.00 2,151.00 - 09/30/2029 - - - - 26,500.00 02/01/2030 22,000.00 1.800% 2,151.00 24,151.00 - 08/01/2030 - - 1,953.00 1,953.00 - 09/30/2030 - - - - 26,104.00 02/01/2031 22,000.00 1.800% 1,953.00 23,953.00 - 08/01/2031 - - 1,755.00 1,755.00 - 09/30/2031 - - - - 25,708.00 02/01/2032 23,000.00 1.800% 1,755.00 24,755.00 - 08/01/2032 - - 1,548.00 1,548.00 - 09/30/2032 - - - - 26,303.00 02/01_/2033 23,000.00 1.800% 1,548.00 24,548.00 - 08/01/2033 - - 1,341.00 1,341.00 - 09/30/2033 - - - - 25,889.00 02/01/2034 24,000.00 1.800% 1,341.00 25,341.00 - 2021 FBMUD East Plant Pro I SINGLE PURPOSE 1 4/ 5/2021 1 11:41 AM Fern Bluff Municipal Utility District $402,000 Required Improvements Charge - East Plant Project, Series 2021 Final Debt Service Schedule Part 2 of 2 Date Principal Coupon Interest Total P+1 Fiscal Total 08/01 /2034 - - 1,125.00 1,125.00 - 09/30/2034 - - - - 26,466.00 02/01/2035 24,000.00 1.800% 1,125.00 25,125.00 - 08/01 /2035 - - 909.00 909.00 - 09/30/2035 - - - - 26,034.00 02/01/2036 25,000.00 .1.800% 909.00 25,909.00 - 08/01 /2036 - - 684.00 684.00 - 09130/2036 - - - - 26,593.00 02/01/2037 25,000.00 1.800% 684.00 25,684.00 - 08/01/2037 - - 459.00 459.00 - 09/30/2037 - - - - 26,143.00 02/01/2038 25,000.00 1.800% 459.00 25,459.00 - 08/01 /2038 - - 234.00 234.00 - 09/30/2038 - - - - 25,693.00 02/01/2039 26,000.00 1.800% 234.00 26,234.00 - 09/30/2039 _,_____. _ _ - - - - 26,234.00 Total $402,000.00 - $72,252.00 $474,252.00 - Yield Statistics Bond Year Dollars $4,014.00 Average Life 9.985 Years Average Coupon _ _ 1.8000000% DV01 359.89 Net interest Cost (NIC___ '�._-� 1.8000000% True Interest Cost (TIC) 1.8000000% Bond Yield for Arbitrage Purnoses__ _ 1.8000000% All Inclusive Cost (AIC)_ 1.8000000% — IRS Form 8038 Net Interest Cost ~ 1.80000000/u Wei hied Average Mahtrity� .�. �..... _.Y.._ . 9.985 Years 2021 FBMUD East Plant Pro I SINGLE PURPOSE 1 4/ 512021 1 11:41 AM