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<br />''MSRB'' means the Municipal Securities Rulemaking Board. <br /> <br />"NRMSIR" means each person whom the SEC or its staff has determined to be a nationally <br />recognized municipal securities information repository within the meaning of the Rule from time to <br />time. <br /> <br />"Rule" means SEC Rule l5c2-l2, as amended from time to time. <br /> <br />"SEe" means the United States Securities and Exchange Commission. <br /> <br />"SID" means any person designated by the State of Texas or an authorized department, officer, or <br />agency thereof as, and determined by the SEC or its staff to be, a state information depository within <br />the meaning of the Rule from time to time. <br /> <br />Section 18. SALE OF CERTIFICATE OF OBLIGATION. The Certificates of Obligation are <br />hereby sold and shall be delivered to for cash for the par <br />value thereof and accrued interest thereon to date of delivery, plus a premium of $ <br />(accrued interest and premium, if any, to be deposited into the Interest and Sinking Fund). It is hereby <br />officially found, determined, and declared that the Certificates of Obligation have been sold at public sale to <br />the bidder offering the lowest interest cost, after receiving sealed bids pursuant to an Official Notice of Sale <br />and Bidding Instructions and Official Statement dated July 31, 2002, prepared and distributed in connection <br />with the sale of the Certificates of obligation. Said Official Notice of Sale and Bidding Instructions and <br />OfficialStatement, and any addenda, supplement, or amendment thereto have been and are hereby approved <br />by the governing body of the Issuer, and their use in the offer and sale of the Certificates of Obligation is <br />hereby approved. It is further officially found, determined, and declared that the statements and <br />representations contained in said Official Notice of Sale and Official Statement are true and correct in all <br />material respects, to the best knowledge and belief of the governing body of the Issuer. <br /> <br />Section 19. INTEREST EARNINGS ON CERTIFICATES OF OBLIGATION PROCEEDS. <br />The earnings derived from the investment of proceeds from the sale of the Certificates of Obligation shall <br />be used along with other Certificate of Obligation proceeds as described in Section 1 hereof; provided that <br />after completion of such project, if any of such interest earnings remain on hand, such interest earnings shall <br />be deposited in the Interest and Sinking Fund. It is further provided, however, that interest earnings on the <br />Certificates of Obligation proceeds which are required to be rebated to the United States of America pursuant <br />to Section 14 hereof in Ordinance to prevent the Certificates of Obligation from being arbitrage Certificates <br />of Obligation shall be so rebated and not considered as interest earnings for the purpose of this Section. <br /> <br />Section 20. APPROPRIATION. There is hereby appropriated for transfer into the Interest and <br />Sinking Fund, from available funds of the Issuer, moneys sufficient to pay the principal and interest coming <br />due on the Certificates of Obligation December 15, 2002. <br /> <br />Section 21. PUBLIC NOTICE. It is hereby officially found and determined that public notice <br />of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government <br />Code, and no petition was received from the qualified electors of the Issuer protesting the issuance of such <br />Certificates of Obligation, and this Ordinance shall become effective after passage by the City Council. <br /> <br />27 <br />