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Draft <br />RESOLUTION N0. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; <br />APPROVING A PROPOSAL WITH SOUTHWEST SECURITIES FOR <br />FINAIVCIAL ADVISORY SERVICES ASSOCIATED WITH CITY'S <br />APPLICATION TO THE TEXAS WATER DEVELOPMENT BOARD FOR A <br />DRINKING WATER STATE REVOLVING FUND LOAN; MAKING OTHER <br />FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND <br />DECLARING AN EFFECTIVE DATE. <br />WHEREAS, the City of Paris is preparing an application to the Texas Water <br />Development Board for a Drinking Water State Revolving Fund Loan in the amount of <br />$3,400,000.00 to fund 15 City water line replacement projects designated on the City's <br />Capital Improvement Project list; and <br />WHEREAS, the Texas Water Development Board and other State Law requires the <br />City to hire Financial Advisory Services to advise City and TWDB on preparation and <br />approval of the certificates of obligations to fund the water line replacement projects for <br />the City; and, <br />WHEREAS, Southwest Securities has submitted a Proposal for Professional Services <br />in the amount of $19,748.00 to assist City with loan approval process and issuance of debt <br />obligations for Water Line Replacement Project, a copy of which is attached hereto as <br />Exhibit "A". <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 City Council of the City of Paris, Texas hereby accepts the <br />Proposal for Professional Financial Advisory Services from Southwest Securities to assist <br />the City with the TWDB loan approval process and issuance of debt obligations a copy of <br />which is attached hereto as Exhibit "A". <br />Section 3. That the City Manager is authorized to negotiate and execute all <br />documents necessary to accept the Proposal for Financial Advisory Services and with <br />Southwest Securities and all other documents related to the TWDB Drinking Water State <br />Revolving Fund Loan. <br />Section 4. This resolution shall be effective immediately upon passage. <br />- 143 <br />