2012-052 RES APPROVING PROPOSAL WITH SW SECURITIES FOR FINANCIAL ADVISORY SERVICES ASSOCIATED WITH CITY'S APPLICATION TO TX WATER DEVELOPMENT BOARD FOR DRINKING WATER STATE REVOLVING FUND LOAN

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RESOLUTION N0. 2012-052 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS; APPROVING A PROPOSAL WITH SOUTHWEST SECURITIES FOR FINANCIAL ADVISORY SERVICES ASSOCIATED WITH CITY'S APPLICATION TO THE TEXAS WATER DEVELOPMENT BOARD FOR A DRINKING WATER STATE REVOLVING FUND LOAN; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Paris is preparing an application to the Texas Water Development Board for a Drinking Water State Revolving Fund Loan in the amount of $3,400,000.00 to fund 15 City water line replacement projects designated on the City's Capital Improvement Project list; and WHEREAS, the Texas Water Development Board and other State Law requires the City to hire Financial Advisory Services to advise City and TWDB on preparation and approval of the certificates of obligations to fund the water line replacement projects for the City; and, WHEREAS, Southwest Securities has submitted a Proposal for Professional Services in the amount of $19,748.00 to assist City with loan approval process and issuance of debt obligations for Water Line Replacement Project, a copy of which is attached hereto as Exhibit "A". NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF 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 City Council of the City of Paris, Texas hereby accepts the Proposal for Professional Financial Advisory Services from Southwest Securities to assist the City with the TWDB loan approval process and issuance of debt obligations a copy of which is attached hereto as Exhibit "A". Section 3. That the City Manager is authorized to negotiate and execute all documents necessary to accept the Proposal for Financial Advisory Services and with Southwest Securities and all other documents related to the TWDB Drinking Water State Revolving Fund Loan. Section 4. This resolution shall be effective immediately upon passage.