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File #: 2026-115   
Type: Resolution Status: Agenda Ready
File created: 4/3/2026 In control: City Council
On agenda: 4/23/2026 Final action:
Title: Consider a resolution authorizing the Mayor to execute an Agreement between the City of Round Rock and the Round Rock Transportation and Economic Development Corporation (RRTEDC) to Pay Debt Service on the 2026 Combination Tax and Limited Revenue Certificates of Obligation issued by the City of Round Rock.
Attachments: 1. Res 2026-115 CORR Approve Agmt with RRTEDC to Pay Debt Service on the Road Portion of the 2026 COs_1, 2. Exhibit A, 3. Road Funding Plan
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Title

Consider a resolution authorizing the Mayor to execute an Agreement between the City of Round Rock and the Round Rock Transportation and Economic Development Corporation (RRTEDC) to Pay Debt Service on the 2026 Combination Tax and Limited Revenue Certificates of Obligation issued by the City of Round Rock.

 

Body

This agreement between the City and the RRTEDC (Type B) agrees to pay the debt on $30 million of CO debt to be approved by the City on April 23, 2026.  The debt will fund projects already approved by the RRTEDC and included on the TCIP.  Consistent with the April 2025 agreement, staff recommends shifting the debt payments to RRTEDC and fully leverage the capacity of RRTEDC in order to fund more road projects and mitigate the property tax rate burden on its citizens.

The City’s AAA-rated COs are a less expensive financing method than the RRTEDC’s AA+-rated sales tax revenue bonds.  Therefore, that method is recommended to accomplish the transaction.

Type B will have reviewed and voted on this item prior to the Council meeting.

Staff recommends approval.