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Consider an ordinance authorizing the issuance of City of Round Rock, Texas Combination Tax and Limited Revenue Certificates of Obligation, Series 2021A; levying an Ad Valorem Tax and pledging certain revenues in support of the Certificates; approving an Official Statement, a Paying Agent/Registrar Agreement and other related documents; awarding the sale of the Certificates and authorizing other matters relating to the Certificates. (First Reading, Second Reading Not Required)
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This item will award the sale of the certificates in the aggregate principal amount of $30,000,000 for paying all or a portion of the City’s contractual obligations incurred or to be incurred for (1) constructing, improving, extending, expanding, upgrading and/or developing streets, roads, bridges, sidewalks, intersections, traffic signalization and other transportation improvement projects including related waterworks, sewer and drainage improvements, signage, landscaping, irrigation, purchasing any necessary rights-of-way and other related transportation costs, including, but not limited to, Deepwood Drive, Gattis School Road, Kenney Fort Boulevard, Logan Street, McNeil Road, North Mays Street, Oakmont Drive, Old Settlers Boulevard, Red Bud Land, Ranch-to-Market Road 620, SH45 Frontage Road, University Boulevard, Wyoming Springs Drive, County Road 112, and South Mays Corridor; and (2) professional services including fiscal, engineering, architectural and legal fees and other such costs incurred in connection therewith including the costs of issuance in connection with the Certificate.
The projects listed above are part of the Transportation Master Plan and will support the ultimate growth of the City. This is the third of five anticipated bond issues approximating $140 million to fund the $240 million 5-year road expansion program.
The principal and interest payments for these bonds are expected to be paid from property tax revenues and roadway impact fees.