NOTICE TO THE PUBLIC AVERY RANCH ROAD DISTRICT No. 1 PEARSON PLACE ROAD DISTRICT NORTHWOODS ROAD DISTRICT No. 1 SOMERSET HILLS ROAD DISTRICT No. 4 August 18, 2020 10:00 A.M. The Commissioners Court of Williamson County, Texas pursuant to V.A.C.S. art. 6702-1, acting as ex-officio road commissioners of their respective precincts, will meet in regular session on Tuesday, August 18, 2020, at 10:00 a.m. or immediately following special session, the place being the Commissioners Courtroom, 710 Main Street, in Georgetown, Texas to consider the following items: 1. Review and approval of minutes. 2. Discuss, consider and take appropriate action on approving road district collections for the month of July 2020 for the Williamson County Tax Assessor/Collector. 3. Discuss and take appropriate action on the Avery Ranch Road District, the Pearson Place Road District and the Northwoods Road District including, but not limited to payment of bills. 4. Consideration and possible action related to a "Resolution Approving Preliminary Official Statement; Authorizing Distribution of Preliminary Official Statement and Approving Other Related Matters." _________________________ Bill Gravell, Jr., County Judge Road District 2. Meeting Date: 08/18/2020 Road District Collections – July 2020 Submitted For: Larry Gaddes Submitted By: Renee Clark, County Tax Assessor Collector Department: County Tax Assessor Collector Information Agenda Item Discuss, consider and take appropriate action on approving road district collections for the month of July 2020 for the Williamson County Tax Assessor/Collector. Background Fiscal Impact From/To Acct No. Description Amount Attachments 070120-073120 Road Dist Form Review Inbox Reviewed By Date County Judge Exec Asst. Andrea Schiele 08/11/2020 09:24 AM Form Started By: Renee Clark Started On: 08/11/2020 08:37 AM Final Approval Date: 08/11/2020 YEAR TO DATE - COLLECTION REPORT Williamson County Road Districts July 1-31, 2020 YTD YTD Percent Annual Adjusted Penalty & YTD Percent Collected Avery Ranch Assessment Assessment Current Tax Interest Uncollected Percent Collected w/P&I & Road District Liens Adjustments Liens Collected Collected Variance Balance YTD Collected Collected w/P&I Prior Years 2019 $1,189,176.90 $1,297.46 $1,190,474.36 $3,388.58 $90.14 $0.00 $1,869.70 $1,188,604.66 99.84% 99.95% 99.98% 2018 & Prior $4,197.00 $0.11 $4,197.11 $0.00 $0.00 $0.00 $3,893.93 $303.18 7.22% 8.54% Total All $1,193,373.90 $1,297.57 $1,194,671.47 $3,388.58 $90.14 $0.00 $5,763.63 $1,188,907.84 99.52% 99.62% YTD YTD Percent Annual Adjusted Penalty & YTD Percent Collected Pearson Place Assessment Assessment Current Tax Interest Uncollected Percent Collected w/P&I & Road District Liens Adjustments Liens Collected Collected Variance Balance YTD Collected Collected w/P&I Prior Years 2019 $300,856.19 $709.42 $301,565.61 $455.67 $7.34 $0.00 $361.98 $301,203.63 99.88% 99.93% 99.93% 2018 & Prior $82.99 ($16.58) $66.41 $0.00 $0.00 $0.00 $82.99 ($16.58) 0.00% 0.00% Total All $300,939.18 $692.84 $301,632.02 $455.67 $7.34 $0.00 $444.97 $301,187.05 99.85% 99.91% YTD YTD Percent Northwoods Annual Adjusted Penalty & YTD Percent Collected Road District Assessment Assessment Current Tax Interest Uncollected Percent Collected w/P&I & #1 Liens Adjustments Liens Collected Collected Variance Balance YTD Collected Collected w/P&I Prior Years 2019 $687,856.56 $0.00 $687,856.56 $2,530.23 $0.00 $0.00 $958.14 $686,898.42 99.86% 99.95% 99.95% 2018 & Prior $908.61 $0.00 $908.61 $0.00 $0.00 $0.00 $908.61 $0.00 0.00% 0.00% Total All $688,765.17 $0.00 $688,765.17 $2,530.23 $0.00 $0.00 $1,866.75 $686,898.42 99.73% 99.81% Road District 3. Meeting Date: 08/18/2020 Debt Service August 2020 Payments Submitted For: Melanie Denny Submitted By: Melanie Denny, County Auditor Department: County Auditor Information Agenda Item Discuss and take appropriate action on the Avery Ranch Road District, the Pearson Place Road District and the Northwoods Road District including, but not limited to payment of bills. Background Fiscal Impact From/To Acct No. Description Amount Attachments Debt Service 08.20 Form Review Inbox Reviewed By Date County Judge Exec Asst. Andrea Schiele 08/06/2020 08:56 AM Form Started By: Melanie Denny Started On: 08/03/2020 03:54 PM Final Approval Date: 08/06/2020 ROAD DISTRICTS - DEBT SERVICE PAYMENT PAYMENT DUE Payment Date: August 15, 2020 BOND TITLE SERIES DESCRIPTION AMOUNT AVERY RANCH DEBT SERVICE UNLIMITED TAX REFUNDING BONDS 2012 Principal $ 580,000.00 UNLIMITED TAX REFUNDING BONDS 2012 Interest $ 10,150.00 UNLIMITED TAX REFUNDING BONDS 2016 Principal $ 490,000.00 UNLIMITED TAX REFUNDING BONDS 2016 Interest $ 14,950.00 UNLIMITED TAX REFUNDING BONDS 2019 Principal $ - UNLIMITED TAX REFUNDING BONDS 2019 Interest $ 60,400.00 Paying Agent Fee $ 400.00 TOTAL FOR AVERY RANCH DEBT SERVICE DUE $ 1,155,900.00 PEARSON PLACE DEBT SERVICE UNLIMITED TAX ROAD BONDS 2016 Principal $ 165,000.00 UNLIMITED TAX ROAD BONDS 2016 Interest $ 81,050.00 Paying Agent Fee $ 200.00 TOTAL FOR PEARSON PLACE DEBT SERVICE DUE $ 246,250.00 NORTHWOODS ROAD DEBT SERVICE UNLIMITED TAX ROAD BONDS 2017 Principal $ 220,000.00 UNLIMITED TAX ROAD BONDS 2017 Interest $ 154,600.00 UNLIMITED TAX ROAD BONDS 2018 Principal $ 60,000.00 UNLIMITED TAX ROAD BONDS 2018 Interest $ 46,900.00 Paying Agent Fee $ 400.00 TOTAL FOR NORTHWOODS ROAD DEBT SERVICE DUE $ 481,900.00 Road District 4. Meeting Date: 08/18/2020 Somerset Hills Road District #4 Unlimited Tax Bonds 2020 Submitted By: Julie Kiley, County Auditor Department: County Auditor Information Agenda Item Consideration and possible action related to a "Resolution Approving Preliminary Official Statement; Authorizing Distribution of Preliminary Official Statement and Approving Other Related Matters." Background Attached is a resolution to Approving the Preliminary Official Statement (also attached) for the first debt issuance for the Somerset Hills District #4. Garry Kimble, Financial Advisor, of Specialized Public Finance will be available to answer questions. Carol Polumbo, Bond Counsel, of McCall Parkhurst & Horton has reviewed and drafted all legal documents. County Auditor has reviewed the Preliminary Official Statement. The Tax rate will be addressed in September along with the rest of the Road Districts. Fiscal Impact From/To Acct No. Description Amount Attachments Somerset #4 Resolution 2020 Debt Somerset #4 Preliminary Official Statement 2020 Form Review Inbox Reviewed By Date County Judge Exec Asst. Andrea Schiele 08/13/2020 09:06 AM Form Started By: Julie Kiley Started On: 08/12/2020 09:35 PM Final Approval Date: 08/13/2020 RESOLUTION APPROVING PRELIMINARY OFFICIAL STATEMENT; AUTHORIZING DISTRIBUTION OF PRELIMINARY OFFICIAL STATEMENT; ENGAGEMENT OF FINANCIAL ADVISOR RELATING TO SOMERSET HILLS ROAD DISTRICT NO. 4 AND APPROVING OTHER RELATED MATTERS WHEREAS, Williamson County, Texas (the "County") has previously executed a Development Agreement dated May 8, 2006 (the "Development Agreement") with Somerset Hills, Ltd., a Texas limited partnership (the "Developer"), relating to the reimbursement of the Developer through the Somerset Hills Road District No. 4 (the "District") for certain costs related to the construction of road improvements for Ronald Reagan Boulevard from Farm to Market Road 2238 to State Highway 195 through the issuance of bonds from time to time by the District in accordance with the Development Agreement; and WHEREAS, the District desires to issue its $1,170,000 Unlimited Tax Road Bonds, Series 2020 (the "Tax-Exempt Bonds") to reimburse the Developer for certain costs incurred related to construction expenses and land dedication for Ronald Reagan Boulevard from Farm to Market Road 2338 to State Highway 195 and its $2,180,000 Unlimited Tax Road Bonds, Taxable Series 2020 (the "Taxable Bonds" and, together with the Tax-Exempt Bonds, the "Bonds") to reimburse the County for its share of costs associated with construction expenses for the same segment of Ronald Reagan Boulevard; and WHEREAS, the District has authorized the District's financial advisor, Specialized Public Finance Inc. (the "Financial Advisor"), to prepare a Preliminary Official Statement (the "Preliminary Official Statement") for the issuance of the Bonds; and WHEREAS, the Commissioners Court, acting in its role as the governing body of the District, deems it appropriate to approve the Preliminary Official Statement and authorize the engagement of consultants and the distribution of the Preliminary Official Statement as further set forth below. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF SOMERSET HILLS ROAD DISTRICT NO. 4 THAT: Section 1. APPROVAL AND DISTRIBUTION OF PRELIMINARY OFFICIAL STATEMENT. The Commissioners Court, acting in its role as the governing body of the District, hereby approves the Preliminary Official Statement substantially in the form attached hereto as Exhibit "A" with such changes, additions or deletions as directed by the County Auditor. The District's Financial Advisor is hereby authorized and directed to distribute the Preliminary Official Statement and to do all things necessary to market the Bonds, including making application for ratings and bond insurance, if applicable. Section 2. ENGAGEMENT OF FINANCIAL ADVISOR. The Commissioners Court, acting in its role as the governing body of the District, hereby approves the engagement of Specialized Public Finance Inc. to serve as financial advisor to the District in connection with the Somerset Hills No. 4\UT Road Bonds 2020: POS Approval Resolution Bonds at a fee of 1% of the principal amount of the Bonds, subject to a $25,000 minimum per series, plus reasonable out-of-pocket (including document preparation fees of $5,000).