How Round Rock may get projects moving before getting any bond money
The Round Rock City Council will discuss paying for certain parts of a bond package before the bonds are even issued during its council meeting Thursday night.
ROUND ROCK, Texas (KXAN) -- The Round Rock City Council will discuss paying for certain parts of a bond package before the bonds are even issued during its council meeting Thursday night. The projects that could be funded are a part of the biggest bond package to ever be approved by voters in the city's history.
The council agenda reads, "Consider a resolution expressing official intent to reimburse certain project expenditures for parks, roads, facilities and public safety." A city spokesperson explained simply that the resolution, "allows us to begin dedicating existing cash to fund projects to get them moving (most are still in the design phase) until we can get the bonds issued."
On May 6, voters approved a $274 million bond package. Before the entire bond package is financed, the city will use $84.3 million of existing cash to pay for certain parts of the projects in the package now, and will then reimburse itself once the bonds are issued. That money in the proposed resolution would be spent over the next one to two years.
What projects will be funded?
A city spokesperson said the projects that will be covered in this resolution break down like this:
- Sports Center expansion - $11 million
- Downtown park at Brushy Creek - Phase I - $5 million
- Parks System Infrastructure - $2 million
- Old Settler's Park build-out: $10.0 million
- Rock'N River expansion: $6.5 million
- Clay Madsen remodel/expansion: $3.5 million
- New Fire Station No.1: $10.0 million
- Fire Station No. 10 and No. 11: $10.0 million
- Public Safety Training Center Phase II: $6.3 million
There are also two other projects that will be funded in this resolution that are not a part of the bond package approved in May. They are the Bob Bennett facility expansion and the Harrell Parkway improvements. Both cost $10 million.
KXAN did reach out to the city to see where the existing cash will come from to fund the projects, but have not received a response. This story will be updated once more information is available.