R-2954-9-10RESOLUTION NO. 2954-9-ID(R)
' A RESOLUTION approving a date for the sale of general obligation refunding 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, 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 approximately 3% or more 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 bonds 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 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 November 9, 2010.
' 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.
1
SECTION 3: This Resolution shall be in force and effect from and after its passage on the date
shown below.
PASSED AND ADOPTED, this September 28, 2010.
A37EST:
SHELLEY B. Q9ORGE
City Secretary
(City Seal)
76616663.1
CITY A N, TEXAS
W
STEPHEN TERRELL
Mayor