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<br />payments, resulting in a debt service savings of approximately $671,431.02 and a present value savings, after <br />taking into account transfers from the Interest and Sinking Fund for the Refunded Bonds, of $533,760.95. <br /> <br />Section 26. PUBLIC NOTICE. It is hereby officially found and deternUned thaI public notice <br />of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government <br />Code. <br /> <br />Section 27. INSURANCE. The Issuer does hereby approve the execution of a commitment <br />letter for municipal bond insurance from Financial Guaranty Insurance Company, and agrees that the provision <br />of Exhibit E thereof, being the Insurance Commitment, which are attached hereto, are hereby adopled and <br />incorporated inlo this Ordinance. <br /> <br />Section 28. <br /> <br />EFFECTIVE DATE. This Ordinance shall become effective on August 27, 200 I. <br /> <br />PASSED AND ADOPTED THIS THE 27TH DAY OF AUGUST, 2001. <br /> <br />~ <br />LArY\t\:tt~ "<>.; ~ tl.rv<V <br />Mattie Cunningham, City Clerk <br /> <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />26 <br />