Title
Consider an ordinance authorizing the issuance of City of Round Rock, Texas General Obligation Bonds, Series 2017; authorizing the levy of an ad valorem tax in support of the bonds; approving an Official Statement, a Purchase Agreement and a Paying Agent Registrar Agreement; and authorizing other matters related to the bonds. (First Reading Only)(Second Reading Not Required)
Body
In November 2013 voters authorized the issuance of $123.6 million in general obligation bonds. In 2014, the City issued the first $71 million of this authorization. This ordinance is to allow the second issuance with a not to exceed amount of $30.9 million.
Proposition 1 - $9.5 million for fire department facilities
Proposition 2 - $10.3 million for park and recreation purposes
Proposition 4 - $11.1 million for public safety training facility
With this issuance, all of the authorization for Propositions 1, 2 and 4 will be exhausted. The City plans to issue the remaining $21.7 million of Proposition 3 for the Library in the Spring of 2018.