2000-012-ORD AUTHORIZING ISSUANCE OF COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION SERIES 2000

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"NRMSIR" means each person whom the SEC or its staff has determined to be a nationally recognized municipal securities information repository within the meaning ofthe Rule from time to time. "Rule" means SEe Rule 15c2-12, as amended from time to time. nSEC" means the United States Securities and Exchange Commission. "SID" means any person designated by the State of Texas or an authorized department, officer, or agency thereof as, and determined by the SEC or its staffto be, a state information depository within the meaning of the Rule from time to time. Section 18. SALE OF CERTIFICATE OF OBLIGATION. The Certificates of Obligation are hereby sold and shall be delivered to DAIN RAUSCHER, INC. & ASSOCIATES for cash for the par value thereof and accrued interest thereon to date of delivery, plus a: premium of $31 0.60 (accrued interest to be deposited into the Interest and Sinking Fund). It is hereby officially found, determined, and declared that the Certificates of Obligation have been sold at public sale to the bidder offering the lowest interest cost, after receiving sealed bids pursuant to an Official Notice of Sale and Bidding Instructions and Official Statement dated February 11, 2000, prepared and distributed in connection with the sale ofthe Certificates of obligation. Said Official Notice of Sale and Bidding Instructions and Official Statement, and any addenda, supplement, or amendment thereto have been and are hereby approved by the governing body of the Issuer, and their use in the offer and sale of the Certificates of Obligation is hereby approved. It is further officially found, determined, and declared that the statements and representations contained in said Official Notice of Sale and Official Statement are true and correct in all material respects, to the best knowledge and belief of the governing body of the Issuer. Section 19. INTEREST EARNINGS ON CERTIFICATES OF OBLIGATION PROCEEDS. The earnings derived from the investment of proceeds from the sale of the Certificates of Obligation shall be used along with other Certificate of Obligation proceeds as described in Section I hereof; provided that after completion of such project, if any of such interest earnings remain on hand, such interest earnings shall be deposited in the Interest and Sinking Fund. It is further provided, however, that interest earnings on the Certificates of Obligation proceeds which are required to be rebated to the United States of America pursuant to Section 14 hereof in Ordinance to prevent the Certificates of Obligation from being arbitrage Certificates of Obligation shall be so rebated and not considered as interest earnings for the purpose of this Section. Section 20. PUBLIC NOTICE. It is hereby officially found and determined that public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code, and no petition was received from the qualified electors of the Issuer protesting the issuance of such Certificates of Obligation, and this Ordinance shall become effective after passage by the City Council. 31