2005R08- BOND RESOLUTION
RESOLUTION No. 05-R-08
RESOLUTION
APPROVING A BOND RESOLUTION ADOPTED BY TIIE BOARD OF
DIRECTORS OF THE SCHERTZ/SEGUIN LOCAL GOVERNMENT
CORPORATION AUTHORIZING THE ISSUANCE OF OBLIGATIONS
DESIGNATED AS "SCHERTZ/SEGUIN LOCAL GOVERNMENT
CORPORATION CONTRACT REVENUE REFUNDING BONDS, SERIES
2005"; ACKNOWLEDGING THAT THESE OBLIGATIONS WERE SOLD TO
THE FIRST SOUTHWEST COMPANY, AS THE AUTHORIZED
REPRESENTATIVE OF A GROUP OF UNDERWRITERS PURSUANT TO
THE PROVISIONS OF A PURCHASE CONTRACT; RATIFYING,
RECONFIRMING, AND READOPTING THE PROVISIONS OF A REGIONAL
WATER SUPPLY CONTRACT EXECUTED BETWEEN THE CITY OF
SCHERTZ, TEXAS, TIIE CITY OF SEGUIN, TEXAS, AND THE
SCHERTZ/SEGUIN LOCAL GOVERNMENT CORPORATION;
AUTHORIZING THE MAYOR, CITY SECRETARY, AND THE INTERIM
CITY MANAGER OF TIIE CITY OF SCHERTZ, TEXAS TO EXECUTE ON
BEHALF OF THE CITY OF SCHERTZ, TEXAS ALL DOCUMENTS IN
CONNECTION WITH THIS TRANSACTION; AND OTHER MATTERS IN
CONNECTION THEREWITH
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS THAT:
The City Council of the City of Schertz, Texas (the "City") has reviewed and hereby approves (i) the
Bond Resolution as to form and content, including the factual findings contained therein and all
documents referenced therein, and the allocation of 50% of the amount of the Bonds (hereinafter
defined) to the City for purposes of section 265(b)(3)(C)(iii) of the Internal Revenue Code, adopted by
the Board of Directors of the Schertz/Seguin Local Government Corporation relating to the issuance
of obligations designated as "Schertz/Seguin Local Government Corporation Contract Revenue
Refunding Bonds, Series 2005" (the "Bonds"), (ii) the Bonds that were sold to the First Southwest
Company, as the authorized representative of a group of underwriters (the "Underwriters"), (iii) the
Regional Water Supply Contract, including the factual findings contained therein, previously
approved and executed among the City of Schertz, Texas, the City of Seguin, Texas (collectively, the
"Cities"), and the Schertz/Seguin Local Govermnent Corporation (the "Contract") which provides
certain security for the payment of these obligations, (iv) the bond purchase contract (the "Purchase
Contract") authorizing the sale of the Bonds to the Underwriters, (v) the Sale and Offering Documents
(as defined in the Contract), including, but not limited to, the City's annual continuing disclosure
requirements in accordance with the RuIe (as defmed in the Contract), (vi) the City's obligations
under the Contract and acknowledges that the payment of principal of and interest on such Bonds is
payable, in whole or in part, from the Annual Payments to be made by the Cities to the Corporation
under and pursuant to the Contract, and (vii) the refunding of the Refunded Obligations and
acknowledges that this refunding will provide present value savings to the Corporation. The Mayor,
City Secretary, and the Interim City Manager of the City of Schertz, Texas are hereby authorized to
execute on behalf of the City, the Purchase Contract, and any and all documents in connection with
this transaction. This resolution may be relied upon by the appropriate representatives of the parties
to this transaction and the Texas Attorney General in his review and approval of this transaction.
45597450.1
APPROVED THIS THE 3RD DAY OF MAY, 2005.
ATTEST:
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City Secretary
45597450.1
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