R-2367-1-05RESOLUTION NO.2367-"6(RI
A RESOLUTION relating to the refinancing of certain outstanding obligations of
the City of Allen, Texas and resolving other matters incident and related
thereto.
WHEREAS, the City Council of the City of Allen, Texas, has been presented with
information demonstrating that in today's market the refinancing of certain outstanding
obligations will result in interest costs savings to City; and
WHEREAS, the City Council hereby finds and determines such refinancing should be
undertaken and, the staff of the City, Estrada Hinojosa & Company, Inc., the City's financial
advisor, and Fulbright & Jaworski, L.L.P., the City's bond counsel, should be authorized and
directed to proceed with the preparation of an official statement and other documents for the
offering and sale of refunding bonds to enable City to realize the interest cost savings; now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS:
SECTION 1: Estrada Hinojosa & Company, Inc. and Fulbright & Jaworski L.L.P. are
hereby authorized and directed to proceed on behalf of the City of Allen, Texas with the
preparation of the documents and making the appropriate arrangements for the offering and
sale of general obligation refunding bonds in the approximate amount of $30,455,000 and the
Director of Finance and other appropriate officials of the City are hereby authorized and directed
to assist and furnish said consultants with information and data needed for the preparation of an
official statement and other documents for a negotiated sale of such bonds with the intent and
purpose of reducing the interest costs of such indebtedness.
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.
PASSED AND ADOPTED, this 25' day of January, 2005.
CITY OF ALLEN, TEXAS
i f
MAYORStephen Terrell,
ATTEST:
' Shelley B. Gec. MC, City Secretary
(City Seal)
4555]869.1