Title
Consider approval of the Sixth Supplemental Ordinance to the Master Ordinance Establishing the City of Round Rock, Texas Utility System Revenue Financing Program (First Reading)(Second Reading Not Required)
Body
On September 14, 2006, the City Council adopted a "Master Ordinance Establishing the City of Round Rock, Texas Utility System Revenue Financing Program," in order to enable the City to provide for the financing of utility system projects authorized by Chapter 1502, Texas Government Code, as amended, and any other applicable provisions of State law. The City deems it necessary to issue Parity Debt, pursuant to this "Sixth Supplemental Ordinance to the Master Ordinance Authorizing The City’s Utility System Revenue Bonds, Series 2026".
The Bonds designated "CITY OF ROUND ROCK, TEXAS UTILITY SYSTEM REVENUE BONDS, SERIES 2026" are hereby authorized to be issued pursuant to this Sixth Supplement in the aggregate principal amount of $60,000,000 for the purpose of (i) constructing, improving and/or extending the City's wastewater system, including for the Brushy Creek East Wastewater Treatment Plant expansion to 40MGD and (ii) paying the costs associated with the issuance of the Bonds. The Bonds are authorized pursuant to authority conferred by and in conformity with State law, particularly the provisions of the Enabling Act.