R-1108-6-92RESOLUTION NO. 1108-6-92(R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, REQUESTING FINANCIAL ASSISTANCE FROM THE
TEXAS WATER DEVELOPMENT BOARD; AUTHORIZING THE FILING OF AN
APPLICATION FOR SUCH ASSISTANCE; AND MAKING CERTAIN
FINDINGS IN CONNECTION THEREWITH.
WHEREAS, the City Council of the City of Allen, Texas hereby finds and determines
that there is an urgent need for the City to construct improvements and extensions to
the City's water treatment and distribution facilities, and such capital improvements
cannot be reasonably financed without financial assistance from the Texas Water
Development Board; and,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITYOF ALLEN,
COLLIN COUNTY, TEXAS THAT:
SECTION 1: That an application is hereby approved and authorized to be filed with the
Texas Water Development Board seeking financial assistance in the amount of $1,080, 000
to finance the costs of constructing improvements and extensions to the City's
Waterworks System.
SECTION 2: That the City Manager shall be and is hereby designated to be the
authorized representative of the City for purposes of furnishing such information and
executing such documents as may be required in connection with the preparation and
filing of such application for financial assistance and the rules of the Texas Water
Development Board.
SECTION 3:
A. That the following firms and individuals are hereby authorized and
directed to aid and assist the City in the preparation and submission of
such application and to appear on behalf of and represent the City before
any hearing held by the Texas Water Development Board on such
application, to wit:
Consulting Engineer:
Financial Advisor:
Michael Cummings, P.E.
Cummings & Pewitt, Inc.
1475 Richardson Drive, Suite 230
Richardson, TX 75080
Dan Almon
Southwest Securities, Inc.
1201 Elm Street, Suite 4300
Dallas, TX 75270
B . We will assist you in obtaining competitive bids for services rendered from
such other parties associated with the issuance, sale and delivery of the
certificates.
C . We understand that you have retained, or expect to retain Fulbright and
Jaworski, a firm of recognized municipal bond attorneys who will prepare
the proceedings and advise the steps necessary to be taken in the bond
election, if required, the legal issuance of the certificates, the final
delivery of the certificates and who will issue an opinion approving the
legality of the certificates. The fee of said firm to be paid by the City.
We will maintain liaison with this firm of bond attorneys and shall assist
in all the financial advisory aspects involved in the preparation of
appropriate legal proceedings and documents.
D . If a bond election is required, we will assemble and transmit to the bond
attorneys such data as may be required in the preparation of the
necessary petitions, orders, resolutions, notices and certificates; and
will assist your governing body in the expeditious handling thereof. We
will arrange for the delivery to such official as you may designate such
sets of election supplies, including ballots as are required for each
polling place. The cost of such supplies is to be paid by the City.
E. We will represent and assist the City in the pre -application meeting and
approval hearings with the Texas Water Development Board, and prepare
and distribute the application for loan assistance through the State
Revolving Fund and Water Supply Account.
F. If any of the certificates are not sold to the State and must be sold
through commercial channels, we agree to assist in the preparation of an
official Statement or Prospectus containing official data and � other
information of the nature and to the extent ordinarily required in bidding
on certificates of this type, all of which we are to furnish in a sufficient
number of copies to permit mailing to prospective bidders, a list of which
we agree to provide. The cost of printing such official Statements to be
paid by the City.
Bond Counsel: Ed. H. Esquivel
Fullbright & Jaworski
2200 Ross Avenue, Suite 2800
Dallas, TX 75201
DULY PASSES AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, ON THIS THE 4TH DAY OF JUNE-, 1992.
APPROVED
4,, Otto&e sem._
Jbe Farmer, MAYOR
ATTEST:
Resolution No. 1108-6-92 (R) page 2