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DRAFT <br />Attorney\reswork\current\First Southwest - Arbitrage Contract Res 2008 <br />RESOLUTION N0. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, <br />APPROVING AND AUTHORIZING THE EXECUTION OF AN AGREEMENT <br />FOR ARBITRAGE REBATE COMPLIANCE SERVICES WITH FIRST <br />SOUTHWEST ASSET MANAGEMENT, INC.; MAKING OTHER FINDINGS <br />AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN <br />EFFECTIVE DATE. <br />WHEREAS, the City of Paris, in connection with the sale and issuance of certain <br />bonds, notes, certificates, or other tax-exempt obligations, will have the need to determine <br />to what extent, if any, it will be required to rebate investment earnings of the proceeds of <br />the bonds to the United States of America pursuant to the provisions of Section 148(f)(2) of <br />the Internal Revenue Code of 1986; and, <br />WHEREAS, First Southwest Asset Management, Inc. provides professional services <br />necessary to effect such determination, and the City of Paris is desirous of securing the <br />same; and, <br />WHEREAS, the form of the Agreement for Arbitrage Rebate Compliance Services, <br />attached hereto as Exhibit A, should, in all things, be approved, and the City Manager <br />should be authorized to execute the same; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS: <br />Section 1. That the findings set out in the preamble to this resolution are hereby <br />in all things approved. <br />Section 2. That the form of the Agreement for Arbitrage Rebate Compliance <br />Services with First Southwest Asset Management, Inc., attached hereto as Exhibit A, for <br />professional services to determine to what extent, if any, the City of Paris will be required <br />to rebate investment earnings of the proceeds of certain bonds, notes, certificates, or other <br />tax-exempt obligations to the United States of America pursuant to the provisions of <br />Section 148(f)(2) of the Internal Revenue Code of 1986, be, and the same is hereby, <br />approved. <br />Section 3. That the City Manager be, and he is hereby, authorized and directed to <br />execute, on behalf of the City of Paris, the Agreement for Arbitrage Rebate Compliance <br />Services with First Southwest Asset Management, Inc., under the terms and conditions and <br />in the form shown in Exhibit A, attached hereto. <br />„ 000079 <br />