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SUMMARY OF REFUNDING RESULTS <br />$6,425.000* <br />CITY OF PAR1S. TEXAS <br />Genera) Obligation Reftinding Bonds, Series 2009 <br />Refunded Bonds: Series 1998, 2000, & 2001 <br />Market Scale: Bank Qualified - Insured <br />December Delivery: Perfect Escrow - No Slg Escrow <br />Preliminary Numbers: As of October 20, 2009 <br />Dated Date <br />12/20/2009 <br />Delivery Date <br />12/20/2009 <br />Arbitrage yield <br />2.601128% <br />Escrow yield <br />Bond Par Amount <br />6,425,000.00 <br />True Interest Cost <br />2.636336% <br />Net Interest Cost <br />2.705108% <br />Average Coupon <br />1317831 % <br />Average Life <br />4.022 <br />Par amount of refunded bonds <br />6,470,000.00 <br />Average coupon of refunded bonds <br />5.396392% <br />Average life of refunded bonds <br />4.182 <br />PV of prior debt to 12/20/2009 (a~ 2.601 128% <br />7,164,586.42 <br />Net PV Savings <br />575,015.10 <br />Percentage savings of refunded bonds <br />8.887405% <br />Percentage savings of retimding bonds <br />8.949651% <br />Oct 20_ 2009 I:10 pm Preptlred by Southwest Securities. Inc. <br />(Finance 6.014 Paris. City of:PARISGO-2009RLF.2009REF) Paee 3 <br />