2002-127-RES APPROVE/AUTHORIZE EXECUTION OF AGREEMENT FOR ARBITRAGE REBATE COMPLIANCE SERVICES WITH FIRST SOUTHWEST ASSET MANAGEMENT

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RESOLUTION NO. 2002-127 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF AN AGREEMENT FOR ARBITRAGE REBATE COMPLIANCE SERVICES WITH FIRST SOUTHWEST ASSET MANAGEMENT, INC.; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Paris, in connection with the sale and issuance of certain bonds, notes, certificates, or other tax-exempt obligations, will have the need to determine to what extent, if any, it will be required to rebate investment earnings of the proceeds of the bonds to the United States of America pursuant to the provisions of Section 148(t)(2) of the Internal Revenue Code of 1986; and, WHEREAS, First Southwest Asset Management, Inc. provides professional services necessary to effect such determination, and the City of Paris is desirous of securing the same; and, WHEREAS, the form of the Agreement for Arbitrage Rebate Compliance Services, attached hereto as Exhibit A, should, in all things, be approved, and the Mayor should be authorized to execute the same; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the form of the Agreement for Arbitrage Rebate Compliance Services with First Southwest Asset Management, Inc., attached hereto as Exhibit A, for professional services to determine to what extent, if any, the City of Paris will be required to rebate investment earnings ofthe proceeds of certain bonds, notes, certificates, or other tax-exempt obligations to the United States of America pursuant to the provisions of Section 148(t)(2) of the Internal Revenue Code of 1986, be, and the same is hereby, approved. Section 3. That the Mayor be, and he is hereby, authorized and directed to execute, on behalf of the City of Paris, the Agreement for Arbitrage Rebate Compliance Services with First Southwest Asset Management, Inc., under the terms and conditions and in the form shown in Exhibit A, attached hereto. Section 4. That this resolution shall be effective from and after its date of passage.