Title
Consider an ordinance authorizing the issuance of City of Round Rock, Texas Combination Tax and Limited Revenue Certificates of Obligation, Series 2021C; 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)
Body
This item is for the Off-site public improvements related to the Kalahari Resort and Conventions. It is to issue certificates of obligation in the amount of $15,400,000 (the "Certificates") and finds that the payment in whole or in part of contractual obligations is incurred or to be incurred for: (1) constructing, improving, extending, expanding, upgrading and/or developing streets, roads, bridges, sidewalks, intersections, traffic signalization, railroad crossing improvements and other transportation improvement projects including related waterworks, sewer, drainage and utility improvements, signage, landscaping, irrigation, purchasing any necessary rights-of-way and other related transportation costs, including, but not limited to, U.S. Route 79, Harrell Parkway, Joe DiMaggio Boulevard, Gattis School Road and Kenney Fort Boulevard; (2) constructing, improving and/or extending the City's waterworks, sewer and drainage system, including extensions to potable water transmission lines, including the acquisition of any necessary easements or land; and (3) professional services including fiscal, engineering, architectural and legal fees and other such costs incurred in connection therewith including the costs of issuing the Certificates
The principal and interest payments for these bonds are expected to be paid from tax revenues generated by the Kalahari project and are not expected to impact the City's property tax rate.