R-2996-3-11RESOLUTION NO. 2996-3-II(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, APPROVING A DATE FOR THE SALE OF GENERAL
OBLIGATION REFUNDING AND IMPROVEMENT BONDS, AUTHORIZING
APPROPRIATE PERSONNEL AND CONSULTANTS TO PROCEED WITH
ARRANGEMENTS AND THE PREPARATION OF DOCUMENTS FOR THE
ISSUANCE AND SALE OF SUCH BONDS AND RESOLVING OTHER MATTERS
INCIDENT AND RELATED THERETO
WHEREAS, based on capital improvement projects currently planned and authorized to be undertaken, staff
of the City has requested approval and authorization to proceed with the issuance and sale of such bonds to
finance the costs thereof on or about May 10, 2011; and
WHEREAS, in addition to the general obligation bonds to finance capital improvements, the City Council
has been presented with information demonstrating that in today's market the refunding of certain outstanding
debt obligations of the City will result in a net present value savings of at least 3% and staff of the City has
requested approval and authorization to proceed with the issuance and sale of general obligation refunding
bonds to accomplish such refunding; and
WHEREAS, the City Council hereby finds and determines such approval and authorization to proceed with
the sale of such general obligation refunding and improvement bonds to finance capital improvements and to
refinance certain outstanding debt obligations of the City should be given; now, therefore,
' BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS:
SECTION 1. The Finance Director of the City, together with the City's financial advisor, Estrada Hinojosa
& Company, Inc. and bond counsel, Fulbright and Jaworski L.L.P., are hereby authorized and directed on
behalf of the City to proceed with, and make arrangements for, the offering and sale of general obligation
refunding and improvement bonds. The Finance Director and other appropriate officials of the City are
hereby authorized and directed to assist and furnish said consultants with information and data, including the
amount of bonds ultimately to be offered for sale, necessary for the preparation of an official statement and
other documents for a sale of such bonds to occur and be approved by the City Council at a meeting to be held
on or about May 10, 2011.
SECTION 2. It is officially found, determined and declared that the meeting at which this Resolution is
adopted was open to the public and public notice of the time, place, and subject matter of the public business
considered at said meeting, including this Resolution, was given, all as required by V.T.C.A., Government
Code, Chapter 551, as amended.
SECTION 3. This Resolution shall be in force and effect from and after its passage on the date shown
below.
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PASSED AND ADOPTED, this March 22, 2011.
Cl Y OF ALLEN, TEXAS
STE N TERRELL,
Mayor
SAT"TTEES`TT:: p p
SHELLEY B. GE46RIGE
City Secretary
(City Seal)
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Resolution No. 29%-3-11(R), Page 2