R-2800-1-09RESOLUTION NO. 2800-1-09(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, APPROVING A DATE FOR THE SALE OF REVENUE
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 revenue bonds of the City will result in a net present value savings of
not less than 3% and staff of the City has requested approval and authorization to proceed with the
issuance and sale of revenue refunding bonds; and,
WHEREAS, the City Council hereby finds and determines such approval and authorization to proceed
with the sale of such revenue bonds to refinance certain outstanding bonds of the City should be given;
now, therefore,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THIN CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1. The City Manager and staff for the City, together with the City's financial advisor,
' Estrada, Hinojosa 8, Company, Inc. and bond counsel, Fulbright and Jaworski L.L.P., are hereby
authorized and directed to proceed on behalf of the City with the preparation of the documents and make
the appropriate arrangements for the offering and sale of revenue refunding bonds in the approximate
amount of $5,775,000, and the City Manager and staff 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 February 24,
2009.
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.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THIN CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON THIS THIN 27TH DAY OF JANUARY, 2009.
APPa
as;a -
Stephen Terrell, MAYOR
ATTEST:
Shelley CITY SECRtXARY
756347321