Ordinance 2007-16 ORDINANCE NO. 2007-16
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION
AND DELIVERY OF "CITY OF WYLIE, TEXAS, PUBLIC PROPERTY
FINANCE CONTRACTUAL OBLIGATIONS, SERIES 2007"; SPECIFYING
THE TERMS OF SUCH CONTRACTS; MAKING PROVISIONS FOR THE
PAYMENT THEREOF; AND RESOLVING OTHER MATTERS INCIDENT
AND RELATED TO THE EXECUTION, PERFORMANCE AND
PAYMENT OF SUCH CONTRACTS, INCLUDING THE APPROVAL AND
EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND A
PURCHASE AGREEMENT IN RELATION THERETO; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, pursuant to V.T.C.A., Local Government Code, Subchapter A of Chapter 271, as
amended (the Public Property Finance Act), the City Council is authorized and empowered to execute,
perform and make payments under contracts with any person for the use, acquisition or purchase of
personal property; and
WHEREAS, in accordance with the provisions of the Public Property Finance Act, the City
Council hereby finds and determines that the acquisition, use or purchase of certain items of personal
property identified in Exhibit A attached hereto, or such other personal property, appliances,
equipment, furnishings, or interests therein, considered by the City Council to be necessary, useful
and/or appropriate for purposes of the City, should be financed under and pursuant to one or more
contractual obligations to be executed and delivered on the terms and in the form hereinafter
prescribed.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
Wl'LIE, TEXAS:
SECTION 1: Contract Authorization - Contract Amount -Property Identification. Contracts,
aggregating in amount $750,000 (the "Aggregate Contract Amount") and entitled "City of Wylie,
Texas, Public Property Finance Contractual Obligations, Series 2007" (the "Contractual Obligations"
or the "Contracts") shall be and are hereby authorized to be executed and delivered with the Initial
Contracting Party, and the assigns thereof, to finance the use or the purchase or other acquisition of
personal property identified in Exhibit A attached hereto and incorporated herein by reference as a
part of this Ordinance for all purposes, or such other personal property, appliances, equipment,
furnishings, or interests therein, considered by the City Council to be necessary, useful and/or
appropriate for purposes of the City (the "Property"); all in accordance with and pursuant to authority
conferred by the laws of the State of Texas,particularly the Public Property Finance Act.
SECTION 2: Full�gistered Form - Contract Date - Authorized Amounts-Installment
Payments-Interest Rate. The Contracts shall be made, executed and delivered in fully registered form,
bear a date of June 15, 2007 (the "Contract Date"), and, except for the Initial Contract authorized
in Section 7 hereof, shall be in authorized amounts of$5,000 or any integral multiple thereof(not to
exceed an Installment Amount), and the Aggregate Contract Amount shall be payable in annual
installments (the "Installment Amounts") on February 15 in the amounts and interest shall accrue on
such Installment Amounts at the per annum rate as follows:
45917975.1
Installment Interest
Payment Date Amount Rate(s)
2008 $ 30,000 4.855%
2009 35,000 4.855°/a
2010 40,000 4.855%
2011 40,000 4.855%
2012 45,000 4.855%
2013 45,000 4.855%
2014 45,000 4.8�5%
2015 50,000 4.855%
2016 50,000 4.855%
2017 55,000 4.855%
2018 55,000 4.855%
2019 60,000 4.85 5%
2020 65,000 4.855%
2021 65,000 4.855%
2022 70,000 4.855%
Interest on the unpaid Installment Amounts shall accrue from the Contract Date (calculated on
the basis of a 360-day year of twelve 30-day months) and such interest shall be payable on February 15
and August 15 in each year, commencing February 15, 2008.
SECTION 3: Terms of Pavment-Paving Agent/Registrar. The Installment Amounts on each
Contract and the interest thereon shall be payable only to the registered contracting party or person
(hereinafter called the"Contracting Party") appearing on the registration and transfer books maintained
by the Paying Agent/Registrar and such Installment Amounts and the interest payable thereon shall be
payable in coin or currency of the United States of America, which at the time of payment is legal
tender for the payment of public and private debts, and without exchange or collection charges to the
Contracting Party.
The selection and appointment of The American National Bank of Texas, Wylie, Texas to serve
as Paying Agent/Registrar for the Contracts is hereby approved and confirmed. Books and records
relating to the registration, payment, exchange and transfer of the Contracts (the "Contract Register")
shall at all times be kept and maintained on behalf of the City by the Paying Agent/Registrar, all as
provided herein, in accordance with the terms and provisions of a "Paying Agent/Registrar
Agreement", substantially in the form attached hereto as Exhibit B, and such reasonable rules and
regulations as the Paying Agent/Registrar and the City may prescribe. The Mayor and City Secretary
are hereby authorized to execute and deliver such Agreement in connection with the delivery of the
Contracts. The City covenants to maintain and provide a Paying Agent/Registrar at all times until the
Contracts are paid and discharged, and any successor Paying Agent/Registrar shall be a bank, trust
company, financial institution or other entity qualified to perform the duties and services of Paying
Agent/Registrar. Upon any change in the Paying Agent/Registrar for the Contracts, the City agrees to
. promptly cause a written notice thereof to be sent to each Contracting Party by United States Mail, first
class postage prepaid, which notice shall also give the address of the new Paying Agent/Registrar.
The Installment Amounts shall be payable when due or on a prepayment date only upon the
presentation and surrender of the Contracts to the Paying Agent/Registrar at its designated offices in
Wylie, Texas (the "Designated Payment/Transfer Office"). Interest on the Installment Amounts shall
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Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
be paid to the Contracting Parties which appear in the Contract Register at the close of business on the
Record Date (the last business day of the month next preceding each interest payment date) and shall
be paid by the Paying Agent/Registrar (i) by check sent United States Mail, first class postage prepaid,
to the address of the Contracting Party recorded in the Contract Register or (ii) by such other method,
acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Contracting
Party. If the date for the payment of an Installment Amount or interest thereon shall be a Saturday,
Sunday, a legal holiday, or a day when banking institutions in the city where the Designated
Payment/Transfer Office of the Paying Agent/Registrar is located are authorized by law or executive
order to close, then the date for such payment shall be the next succeeding day which is not such a
Saturday, Sunday, legal holiday, or day when banking institutions are authorized to close; and payment
on such date shall have the same force and effect as if made on the original date payment was due.
In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days
thereafter, a new record date for such interest payment (a "Special Record Date") will be established
by the Paying Agent/ Registrar, if and when funds for the payment of such interest have been received.
Notice of the Special Record Date and of the scheduled payment date of the past due interest (which
shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the
Special Record Date by United States Mail, first class postage prepaid, to the address of each
Contracting Party appearing on the Contract Register at the close of business on the last business day
next preceding the date of mailing of such notice.
SECTION 4: Prepayment of Installment Amounts.
(a) Optional Prepavment. Installment Amounts of the Contracts shall be subject to
prepayment, at the option of the City, in whole or in part in amounts of$5,000 or any integral multiple
thereof(and if less than all of an Installment Amount is to be prepaid, the Contracts to be prepaid shall
be selected by lot by the Paying Agent/Registrar), on any interest payment date at a prepayment price
equal to the Installment Amount to be prepaid plus accrued interest on such prepaid Installment
Amount to the date of prepayment.
(b) Exercise of Redemption Option. At least forty-five (45) days prior to prepayment date
for the Contracts (unless a shorter notification period shall be satisfactory to the Paying
Agent/Registrar), the City shall notify the Paying Agent/Registrar of the decision to prepay Contracts,
the Installment Amounts, or portions thereof, to be prepaid, and the date of prepayment. The decision
of the City to exercise the right to prepay Installment Amounts of Contracts shall be entered in the
minutes of the governing body of the City.
(c) Selection of Contracts for Redemption. If less than all of an Installment Amount is to
be prepaid on a prepayment date, the Paying Agent/Registrar shall determine which Contracts to
prepay by dividing such Installment Amount by $5,000 and the product of such division such represent
the number of Contracts Outstanding for purposes of selecting by lot which Contracts are to be prepaid
in whole or in part.
(d) Notice of Prepavment. Not less than thirty (30) days prior to a prepayment date for the
Contracts, a notice of prepayment shall be sent by United States Mail, first class postage prepaid, in the
name of the City and at the City's expense, to each Contracting Party of a Contract to be prepaid in
whole or in part at the address of the Contracting Party appearing on the Contract Register at the close
of business on the business day next preceding the date of mailing such notice, and any notice of
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Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
prepayment so mailed shall be conclusively presumed to have been duly given irrespective of whether
received by the Contracting Party.
All notices of prepayment shall (i) specify the date of prepayment for Installment Amounts, (ii)
identify the Contracts to be prepaid and, in the case of a portion of the Installment Amount of a
Contract is to be prepaid, the amount to be prepaid, (iii) state the prepayment price, (iv) state that the
Installment Amount, or the portion of thereof to be prepaid, shall become due and payable on the
prepayment date specified, and the interest thereon, or on the portion of the Installment Amount
thereof to be prepaid, shall cease to accrue from and after the prepayment date, and (v) specify that the
prepayment of the Installment Amount is conditioned on the presentation and surrender of the
Contracts to the Designated Payment/Transfer Office of the Paying Agent/Registrar. If a Contract is
subject by its terms to prior prepayment and notice of prepayment has been duly given as hereinabove
provided, the Installment Amount of such Contract (or the portion thereof to be prepaid) shall become
due and payable and interest thereon shall cease to accrue from and after the prepayment date therefor;
provided sufficient moneys for the purpose of such prepayment are held by the Paying
Agent/Registrar.
SECTION 5: Assignment - Registration-Transfer-Exchange of Contracts. The Paying
Agent/Kegistrar shall obtain, record, and maintain in the Contract Register the name and address of
each and every Contracting Party to a Contract executed and delivered under and pursuant to the
provisions of this Ordinance, or if appropriate, the nominee thereof. Any Contract may be assigned,
transferred or exchanged for Contracts of other authorized amounts by the Contracting Party, in person
or by his duly authorized agent, upon surrender of such Contract to the Paying Agent/Registrar for
cancellation, accompanied by a written instrument of assignment and transfer or request for exchange
duly executed by the Contracting Party or by his duly authorized agent, in form satisfactory to the
Paying Agent/Registrar.
Any Contract to be assigned and transferred shall be surrendered to the Paying Agent/Registrar
and, upon its receipt and cancellation, the Paying Agent/Registrar shall register and deliver, in the
name of the designated assignee or transferee, one or more new Contracts of authorized amounts and,
except for the assignment and transfer of the Initial Contract by the Initial Contracting Party, having
the same Payment Date and of a like Installment Amount as the Contract or Contracts surrendered for
assignment and transfer.
Contracts may be exchanged for Contracts of other authorized amounts and having the same
Payment Date, bearing the same rate of interest and of like aggregate Installment Amount as the
Contracts surrendered for exchange, upon surrender of the Contracts to be exchanged to the Paying
Agent/Registrar. Whenever any Contracts are surrendered for exchange, the Paying Agent/Registrar
shall register and deliver new Contracts to the Contracting Party requesting the exchange.
When a Contract has been duly assigned and transferred or exchanged, the new Contract or
Contracts registered in such assignment and transfer or exchange shall be delivered to the Contracting
Party at the Designated Payment/Transfer Office of the Paying AgentfRegistrar or sent by United
States Mail, first class, postage prepaid to the Contracting Party, and, upon the registration and
delivery thereof, such Contracts shall be the valid obligations of the City, evidencing the same
obligation to pay, and entitled to the same benefits under this Ordinance, as the Contracts surrendered
in such assignment and transfer or exchange.
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Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
All transfers or exchanges of Contracts pursuant to this Section shall be made without expense
or service charge to the Contracting Party, except as otherwise herein provided, and except that the
Paying Agent/Registrar shall require payment by the Contracting Party requesting such transfer or
exchange of any tax or other governmental charges required to be paid with respect to such transfer or
exchange.
Contracts cancelled by reason of an exchange or transfer pursuant to the provisions hereof are
hereby defined to be "Predecessor Contracts," evidencing all or a portion, as the case may be, of the
same obligation to pay evidenced by the new Contract or Contracts registered and delivered in the
exchange or transfer therefor. Additionally, the term "Predecessor Contracts" shall include any
mutilated, lost, destroyed, or stolen Contract for which a replacement Contract has been registered and
delivered in lieu thereof pursuant to the provisions of Section 10 hereof and such new replacement
Contract shall be deemed to evidence the same obligation as the mutilated, lost, destroyed, or stolen
Contract.
Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to an
assignee of a Contracting Party any Contract called for prepayment, in whole or in part, within 45 days
of the date fixed for the prepayment of the Installment Amount of such Contract; provided, however,
such limitation on transferability shall not be applicable to an exchange by the Contracting Party for
the unpaid balance of the Installment Amount of a Contract prepaid in part.
SECTION 6: Execution - Re�istration. The Contracts shall be exec�ted on behalf of the City
by the Mayor, with the seal of the City reproduced ar impressed thereon and countersigned by the City
Secretary. The signature of such officers on the Contracts may be manual or facsimile. Contracts
bearing the manual or facsimile signatures of the persons holding such offices on the Contract Date
shall be deemed to be duly executed on behalf of the City, notwithstanding a change in persons holding
such offices at the time of delivery of the Contracts to the Initial Contracting Party and with respect to
Contracts delivered in subsequent assignments and transfers or exchanges.
No Contract shall be entitled to any right or benefit under this Ordinance, or be valid or
obligatory for any purpose, unless the registration certificate appearing on the Contracts to be signed
by the Comptroller of Public Accounts of the State of Texas (substantially in the form provided in
Section 8(c) and/or the Paying Agent/Registrar (substantially in the form provided in Section 8(d),
either or both such certificates, as the case may be, are manually executed by an authorized officer,
employee or representative of the Comptroller of Public Accounts and/or the Paying Agent/Registrar,
and such registration certificate, either or both, upon any Contract when duly executed by the
Comptroller of Public Accounts and/or the Paying Agent/Registrar, as the case may be, shall be
conclusive evidence, and the only evidence, that such Contract has been duly certified, registered and
delivered.
SECTION 7: Initial Contracts. The Contracts herein authorized may be initially executed and
delivered as a single fully registered Contract in the Aggregate Contract Amount with Installment
Amounts to become due and payable as provided in Section 2 hereof and numbered T-1 and registered
in the name of the Initial Contracting Party or the designee thereof. Such single fully registered
Contract shall be submitted to the Office of the Attorney General of the State of Texas for approval,
certified and registered by the Office of the Comptroller of Public Accounts of the State of Texas and
delivered to the Initial Contracting Party. Any time after the delivery of such single fully registered
Contract, the Paying Agent/Registrar, pursuant to written instructions from the Initial Contracting
Party, shall cancel such obligation and exchange therefor Contracts of authorized amounts and in
45917975.1 5
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
Installment Amounts with Payment Dates and bearing applicable interest rates for transfer and delivery
to the Contracting Parties named at the addresses identified therefor; all pursuant to and in accordance
with such written instructions from the initial Contracting Party and such other information and
documentation as the Paying Agent/Registrar may reasonably raquire.
SECTION 8: Forms.
(a) Forms Generallv. The Contracts, the Registration Certificate of the Comptroller of
Public Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar, and the
form of Assignment to be printed on the Contracts, shall be substantially in the forms set forth in this
Section with such appropriate insertions, omissions, substitutions, and other variations as are permitted
or required by this Ordinance and may have such letters, numbers, or other marks of identification and
such legends and endorsements (including insurance legends in the event the Contracts, or any
installment amounts thereof, are purchased with insurance and any reproduction of an opinion of
counsel) thereon as may, consistently herewith, be determined by the officers executing and delivering
such Contracts as evidenced by their execution.
The Contracts, including the Initial Contract, shall be printed, lithographed, or engraved,
typewritten, photocopied or otherwise reproduced in any other similar manner, all as determined by the
officers executing such Contracts as evidenced by their execution.
(b) General Contract Form.
REGISTERED REGISTERED:
NO. $
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS,
PUBLIC PROPERTY FINANCE CONTRACTUAL OBLIGATION
SERIES 2007
Contract Date: Interest Rate: Payment Date: CUSIP No.:
June 15, 2007 4.855% February 15, 20_
Contracting Party:
Installment Amount:
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the County of Collin, State of Texas, hereby agrees and promises to pay to the
Contracting Party named above, or the registered assigns thereof, the Installment Amount hereinabove
stated on the Payment Date specified above (or such much thereof as shall not have been prepaid prior
to such Payment Date), and to pay interest on such unpaid Installment Amount from the Contract Date
at the per annum rate of interest specified above computed on the basis of a 360-day year of
twelve 30-day months; such interest being payable on February 15 and August 15 in each year,
commencing February 15, 2008. The Installment Amount is payable on the Payment Date noted
above, or on a prepayment date, to the Contracting Party only upon presentation and surrender of this
45917975.1 6
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
Contract to the Designated Payment/Transfer Office of the Paying Agent/Registrar executing the
registration certificate appearing hereon, or its successor. Interest is payable to the Contracting Party
of this obligation (or one or more Predecessor Contracts, as defined in the Ordinance hereinafter
referenced) who appears on the "Contract Register" maintained by the Paying Agent/Registrar at the
close of business on the "Record Date", which is the last business day of the month next preceding
each interest payment date, and interest shall be paid by the Paying Agent/Registrar by check sent
United States Mail, first class postage prepaid, to the address of such Contracting Party recorded in the
Contract Register or by such other method, acceptable to the Paying Agent/Registrar, requested by,
and at the risk and expense of, the Contracting Party. If the date for the payment of an Installment
Amount or interest thereon shall be a Saturday, Sunday, a legal holiday, or a day when banking
institutions in the city where the Designated Payment/Transfer Office of the Paying Agent/Registrar is
located are authorized by law or executive order to close, then the date for such payment shall be the
next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when banking
institutions are authorized to close; and payment on such date shall have the same force and effect as if
made on the original date payment was due. The Installment Amount of this Contract and interest
thereon shall be paid without exchange or collection charges to the Contracting Party and in any coin
or currency of the United States of America which at the time of payment is legal tender for the
payment of public and private debts.
This Contract is one of a number of contracts aggregating in amount $750,000 (herein referred
to as the "Contracts"), executed and delivered to finance the acquisition, use or purchase of personal
property, under and in strict conformity with the Constitution and laws of the State of Texas,
particularly the Public Property Finance Act (V.T.C.A., Local Government Code, Subchapter A of
Chapter 271, as amended) and pursuant to an Ordinance adopted by the City Council of the City
(herein referred to as the "Ordinance").
Installment Amounts of the Contracts may be prepaid, at the option of the City, in whole or in
part in authorized amounts of $5,000 or any integral multiple thereof (and if less than all of an
Installment Amount is to be prepaid, the Contracts is to be prepaid shall be selected by lot by the
Paying Agent/Registrar), on any interest payment date at a prepayment price equal to the Installment
Amount to be prepaid plus accrued interest on such Installment Amount to the date of prepayment.
At least thirty days prior to the date fixed for any prepayment of Contracts, the City shall cause
a written notice of such prepayment to be sent by United States Mail, first class postage prepaid, to the
Contracting Party of each Contract to be redeemed at the address shown on the Contract Register and
subject to the terms and provisions relating thereto contained in the Ordinance. If a Contract (or any
portion of its Installment Amount) shall have been duly called for prepayment and notice of such
prepayment duly given, then upon such prepayment date such Contract (or the portion of its
Installment Amount to be prepaid) shall become due and payable, and interest thereon shall cease to
accrue from and after the prepayment date therefor, provided sufficient moneys for the purpose of such
prepayment are held by the Paying Agent/Registrar.
In the event a portion of the Installment Amount of a Contract is to be prepaid, payment of the
prepayment price shall be made to the Contracting Party only upon presentation and surrender of such
Contact to the Designated Payment/Transfer Office of the Paying Agent/Registrar, and a new Contract
or Contracts of like Payment Date and interest rate in any authorized amounts provided by the
Ordinance for the then unpaid balance of the Installment Amount thereof will be issued to the
Contracting Party, without charge. If the Installment Amount of this Contract is selected for
prepayment, in whole or in part, the City and the Paying Agent/Registrar shall not be required to
45917975.1 7
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
deliver or transfer this Contract to an assignee of the Contracting Party within 45 days of the
prepayment date therefor; provided, however, such limitation on transferability shall not be applicable
to an exchange by the Contracting Party of the unpaid balance of the Installment Amount of a Contract
prepaid in part.
This Contract is an obligation of the City payable from the pledged proceeds of an ad valorem
tax levied,within the limitations prescribed by law, upon all taxable property in the City. Reference is
hereby made to the Ordinance, a copy of which is on file in the Designated Payment/Transfer Office of
the Paying Agent/Registrar, and to all of the provisions of which the Contracting Party by the
acceptance hereof hereby agrees, for definitions of terms; the description of and the nature and extent
of the taxes pledged for the payment of the Contracts; the terms and conditions relating to the
assignment and transfer of this Contract; the conditions upon which the Ordinance may be amended or
supplemented with or without the consent of the Contracting Parties; the rights, duties, and obligations
of the City and the Paying Agent/Registrar; the terms and provisions upon which this Contract may be
discharged at or prior to its Payment Date, and the obligation evidenced by the Contracts cease to exist
as an obligation of the City; and for other terms and provisions contained therein. Capitalized terms
used herein have the meanings assigned in the Ordinance.
This Contract, subject to certain limitations contained in the Ordinance, may be assigned and
transferred on the Contract Register only upon its presentation and surrender at the Designated
Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly endorsed by,
or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar
duly executed by, the registered party hereof, or his duly authorized agent. When a transfer on the
Contract Register occurs, one or more new fully registered Contracts with the same Payment Date, in
authorized amounts, bearing the same rate of interest, and of the same Installment Amount will be
delivered by the Paying Agent/Registrar to the designated assignee or assignees.
The City and the Paying Agent/Registrar, and any agent of either, shall treat the registered
party whose name appears on the Contract Register (i) on the Record Date as the Contracting Party
entitled to payment of interest hereon, (ii) on the date of surrender of this Contract as the Contracting
Party entitled to payment of the Installment Amounts on the Payment Date, or on a prepayment date,
and (iii} on any other date as the Contracting Party to notify for all other purposes, and neither the City
nor the Paying Agent/Registrar, or any agent of either, shall be affected by notice to the contrary. In
the event of nonpayment of interest on a scheduled payment date and for thirty (30) days thereafter, a
new record date for such interest payment (a "Special Record Date") will be established by the Paying
Agent/Registrar, if and when funds for the payment of such interest have been received. Notice of the
Special Record Date and of the scheduled payment date of the past due interest(which shall be 15 days
after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record
Date by United States Mail, first class postage prepaid, to the address of each Contracting Party
appearing on the Contract Register at the close of business on the last business day next preceding the
date of mailing of such notice.
It is hereby certified, recited, represented and declared that the City is a body corporate and
political subdivision duly organized and legally existing under and by virtue of the Constitution and
laws of the State of Texas; that the execution and delivery of the Contracts is duly authorized by law;
that all acts, conditions and things required to exist and be done precedent to and in the execution and
delivery of the Contracts to render the same lawful and valid obligations of the City have been
properly done, have happened and have been performed in regular and due time, form and manner as
required by the Constitution and laws of the State of Texas, and the Ordinance; and that due provision
45917975.1 $
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
has been made for the payment of the Contracts and interest thereon as aforestated. In case any
provision in this Contract shall be invalid, illegal, ar unenforceable, the validity, legality, and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. The
terms and provisions of this Contract and the Ordinance shall be construed in accordance with and
shall be governed by the laws of the State of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused this Contract to be duly
executed under the official seal of the City as of the Contract Date.
CITY OF WYLIE, TEXAS
Mayor
ATTEST:
City Secretary
(City Seal)
(c) Form of Re�istration Certificate of Comptroller of Public Accounts to appear on
Initial Contract onlv.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER )
) REGISTER NO.
OF PUBLIC ACCOUNTS )
)
I HEREBY CERTIFY that this Contract has been examined, certified as to validity and
approved by the Attorney General of the State of Texas, and duly registered by the Comptroller of
Public Accounts of the State of Texas.
WITNESS my signature and seal of office this
Comptroller of Public Accounts
of the State of Texas
(SEAL)
45917975.1 9
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
(d) Form of Certificate of Pavin�A en� t/Registrar to appear on definitive Contracts.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Contract has been duly delivered and registered under the provisions of the
within-mentioned Ordinance; the contract or contracts initially executed and delivered by the City
having been approved by the Attorney General of the State of Texas and registered by the Comptroller
of Public Accounts, as shown by the records of the Paying Agent/Registrar.
The designated offices of the Paying AgentlRegistrar in Wylie, Texas is the "Designated
Payment/Transfer Office" for this Contract.
THE AMERICAN NATIONAL BANK OF
TEXAS, Wylie, Texas,
as Paying Agent/Registrar
Registration date:
By:
Authorized Signature
(e) Form of Assi�nment.
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto (Print
or typewrite name, address, and zip code of transferee:)
(Social Security or other identifying number:
) the within Contract and all rights thereunder, and hereby
irrevocably constitutes and appoints attorney to transfer
the within Contract on the books kept for registration thereof, with full power of substitution in the
premises.
DATED:
NOTICE: The signature on this
Signature guaranteed: assignment must correspond with the
name of the contracting party as it appears
on the face of the within Contract in every
particular.
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Public Property Finance Contractual Obligation
Purchase of a Quint
(f) The Initial Contract shall be in the form set forth in paragraph (b) of this Section, except
that the form of the single fully registered Initial Contract shall be modified as follows:
REGISTERED REGISTERED:
NO. T-1 $750,000
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS,
PUBLIC PROPERTY FINANCE CONTRACTUAL OBLIGATION
SERIES 2007
Contract Date:
June 15, 2007
Contracting Party: THE AMERICAN NATIONAL BANK OF TEXAS, Wylie, Texas
Contract Amount: SEVEN HUNDRED FIFTY THOUSAND DOLLARS
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the County of Collin, State of Texas, hereby agrees and promises to pay to the order of
the Contracting Party named above, or the registered assigns thereof, the Contract Amount
hereinabove stated on the Payment Dates and in Installment Amounts in accordance with the following
schedule:
Installment Interest
Pavment Date Amount Rate s
(Information to be inserted from schedule in Section 2 hereo�.
(or so much of an Installment Amount as shall not have been prepaid) and to pay interest on such
unpaid annual Installment Amounts from the Contract Date at the per annum rate of interest specified
above computed on the basis of a 360-day year of twelve 30-day months; such interest being payable
on February 15 and August 15 in each year, commencing February 15, 2008. The Installment
Amounts are payable on the Payment Dates noted above, or on a prepayment date, to the Contracting
Party named above or the assigns thereof by The American National Bank of Texas, Wylie, Texas (the
"Paying Agent/Registrar"), upon the presentation and surrender, at its designated office in Wylie,
Texas (the "Designated Payment/Transfer Office"). Interest is payable to the Contracting Party whose
name appears on the "Contract Register" maintained by the Paying Agent/Registrar at the close of
business on the "Record Date", which is the last business day of the month next preceding each interest
payment date, and interest shall be paid by the Paying Agent/Registrar by check sent United States
Mail, first class postage prepaid, to the address of the Contracting Party recorded in the Contract
Register or by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the
risk and expense of, the Contracting Party. If the date for the payment of an Installment Amount or
interest thereon shall be a Saturday, Sunday, a legal holiday, or a day when banking institutions in the
city where the Designated Payment/Transfer Office of the Paying Agent/Registrar is located are
authorized by law or executive order to close, then the date for such payment shall be the next
succeeding day which is not such a Saturday, Sunday, legal holiday, or day when banking institutions
45917975.1 ��
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
are authorized to close; and payment on such date shall have the same force and effect as if made on
the original date payment was due. The Installment Amounts of this Contract and interest thereon
shall be paid without exchange or collection charges to the Contracting Party and in any coin or
currency of the United States of America which at the time of payment is ]egal tender for the payment
of public and private debts.
SECTION 9: Levv of Taxes. To provide for the payment of the Installment Amounts to
become due and payable and the payment of the interest thereon, there is hereby levied, and there shall
be annually assessed and collected in due time, form, and manner, a tax on all taxable property in the
City, within the limitations prescribed by law, and such tax hereby levied on each one hundred dollars'
valuation of taxable property in the City shall be at a rate from year to year as will be ample and
sufficient to provide funds each year to pay (i) the Installment Amounts to become due and payable or
an amount equal to 2% of the Aggregate Contract Amount (whichever is the greater) and (ii) the
accrued interest on the Installment Amounts to become due and payable; full allowance being made for
delinquencies and costs of collection. Full, complete and accurate books and records relating to the
receipt and disbursement of taxes levied, assessed and collected for and on account of the Contracts
shall be kept and maintained by the City at all times while the Contracts are Outstanding, and the taxes
collected annually for the payment of the Contracts shall be deposited to the credit of a "Special 2007
Contracts Fund" (the "Sinking Fund") maintained on the records of the City and at an official
depository of the City's funds; and such tax hereby levied, and to be assessed and collected annually, is
hereby pledged to the payment of the Contracts.
The Mayor, Mayor Pro Tem, City Manager, Finance Director and City Secretary of the City,
individually or jointly, are hereby authorized and directed to cause to be transferred to the Paying
Agent/ Registrar, from funds on deposit in the Sinking Fund, amounts sufficient to fully pay and
discharge promptly each Installment Amount and interest on the Contracts as the same accrues or
becomes due and payable; such transfer of funds to be made in such manner as will cause collected
funds to be deposited with the Paying Agent/Registrar on or before each Payment Date and each
interest payment date for the Contracts.
SECTION 10: Mutilated - Destroved - Lost and Stolen Contracts. In case a Contract shall be
mutilated, or destroyed, lost or stolen, the Paying Agent/Registrar may execute and deliver a
replacement Contract of like fortn and tenor, and in the same authorized amount and bearing a number
not contemporaneously outstanding, in exchange and substitution for such mutilated Contract, or in
lieu of and in substitution for such destroyed, lost or stolen Contract, only upon the approval of the
City and after (i) the filing by the Contracting Party with the Paying Agent/Registrar of evidence
satisfactory to the Paying Agent/Registrar of the destruction, loss or theft of such Contract, and of the
authenticity of the ownership thereof and (ii) the furnishing to the Paying Agent/Registrar of
indemnification in an amount satisfactory to hold the City and the Paying Agent/Registrar harmless.
All expenses and charges associated with such indemnity and with the preparation, execution and
delivery of a replacement Contract shall be borne by the Contracting Party of the Contract mutilated,
or destroyed, lost or stolen.
Every replacement Contract issued pursuant to this Section shall be a valid and binding
obligation, and shall be entitled to all the benefits of this Ordinance equally and ratably with all other
Outstanding Contracts; notwithstanding the enforceability of payrnent by anyone of the destroyed, lost,
or stolen Contracts.
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Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
SECTION 11: Satisfaction of Obligation of Cit� If the City shall pay or cause to be paid, or
there shall otherwise be paid to the Contracting Parties, the Installment Amounts, together with the
accrued interest thereon, at the times and in the manner stipulated in this Ordinance, then the pledge of
taxes levied under this Ordinance and al] covenants, agreements, and other obligations of the City to
the Contracting Parties shall thereupon cease, terminate, and be discharged and satisfied.
The Contracts shall be deemed to have been paid within the meaning and with the effect
expressed above in this Section when (i) money sufficient to pay in full the Installment Amounts as the
same shall become due and payable on the Payment Dates or on a prepayment date, together with all
interest due thereon, shall have been irrevocably deposited with and held in trust by the Paying
Agent/Registrar, or an authorized escrow agent, or (ii) Government Securities shall have been
irrevocably deposited in trust with the Paying Agent/Registrar, or an authorized escrow agent, which
Government Securities have been certified by an independent accounting firm to mature as to principal
and interest in such amounts and at such times as will insure the availability, without reinvestment, of
sufficient money, together with any moneys deposited therewith, if any, to pay when due the
Installment Amounts and accrued interest on and prior to each Payment Date or to the prepayment date
therefor (if a notice of prepayment has been duly given or waived or if irrevocable arrangements
therefor acceptable to the Paying Agent/Registrar have been made). The City covenants that no
deposit of moneys or Government Securities will be made under this Section and no use made of any
such deposit which would cause the Contracts to be treated as "arbitrage obligations" within the
meaning of Section 148 of the Internal Revenue Code of 1986, as amended, or regulations adopted
pursuant thereto.
Any moneys so deposited with the Paying Agent/ Registrar, or an authorized escrow agent, and
all income from Government Securities held in trust by the Paying Agent/Registrar, or an authorized
escrow agent, pursuant to this Section which is in excess of the amounts required for the payment of
the Contracts in accordance with the defeasance provisions shall be remitted to the City or deposited as
directed by the City. Notwithstanding the above and foregoing, any remittance of funds from the
Paying Agent/Registrar to the City shall be subject to any applicable unclaimed property laws of the
State of Texas.
The term "Government Securities" shall mean (i) direct noncallable obligations of the United
States of America, including obligations the principal of and interest on which are unconditionally
guaranteed by the United States of America, (ii) noncallable obligations of an agency or
instrumentality of the United States, including obligations unconditionally guaranteed or insured by the
agency or instrumentality and on the date of their acquisition or purchase by the City are rated as to
investment quality by a nationally recognized investment rating firm not less than AAA or its
equivalent and (iii) noncallable obligations of a state or an agency or a county, municipality, or other
political subdivision of a state that have been refunded and on the date of their acquisition or purchase
by the City, are rated as to investment quality by a nationally recognized investment rating firm not
less than AAA or its equivalent.
SECTION 12: Ordinance a Contract -Amendments - Outstanding Contracts. This Ordinance
shall constitute an agreement with the Contracting Parties from time to time, be binding on the City,
and shall not be amended or repealed by the City so long as any of the Contracts remain Outstanding
except as permitted in this Section. The City may, without the consent of or notice to any Contracting
Parties, from time to time and at any time, amend this Ordinance in any manner not detrimental to the
interests of the Contracting Parties, including the curing of any ambiguity, inconsistency, or formal
defect or omission herein. In addition, the City may, with the consent of Contracting Parties to
45917975.1 13
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
Contracts which are Outstanding and represent a majority of the aggregate Installment Amounts
affected thereby, amend, add to, or rescind any of the provisions of this Ordinance; provided that,
without the consent of Contracting Parties of all Contracts which are Outstanding, no such amendment,
addition, or rescission shall (1) extend the time or times of payment of the Installment Amounts and
interest on the Contracts, reduce the Installment Amounts, change the prepayment price or the rate of
interest thereon, or in any other way modify the terms of payment of the Contracts, (2) give any
preference to any Contract over any other Contract, or (3) reduce the aggregate Installment Amount of
Contracts required to be held for consent to any such amendment, addition, or rescission.
The term "Outstanding" when used in this Ordinance with respect to Contracts means, as of the
date of determination, all Contracts theretofore delivered and registered under this Ordinance, except:
(1) those Contracts cancelled or delivered to the Paying Agent/Registrar for
cancellation;
(2) those Contracts for which the Installmenf Amounts and all interest
payable thereon has been paid or is deemed to be fully paid in accordance with the
provisions of Section 11 hereof; and
(3) those mutilated, destroyed, lost, or stolen Contracts for which
replacement obligations have been registered and delivered in lieu thereof as provided
in Section 10 hereof.
SECTION 13: Covenants to Maintain Tax-Exempt Status.
(a) Definitions. When used in this Section 13, the following terms have the following
meanings:
"Closing Date" means the date on which the Contracts are first authenticated
and delivered to the initial purchasers against payment therefor.
"Code" means the Internal Revenue Code of 1986, as amended by all
legislation, if any, effective on or before the Closing Date.
"Computation Date" has the meaning set forth in Section 1.148-1(b) of the
Regulations.
"Gross Proceeds" means any proceeds as defined in Section 1.148-1(b) of the
Regulations, and any replacement proceeds as defined in Section 1.148-1(c) of the
Regulations, of the Contracts. -
"Investment"has the meaning set forth in Section 1.148-1(b) of the Regulations.
"Nonpurpose Investment" means any investment property, as defined in section
148(b) of the Code, in which Gross Proceeds of the Contracts are invested and which is
not acquired to carry out the governmental purposes of the Contracts.
"Rebate Amount" has the meaning set forth in Section 1.148-1(b) of the
Regulations.
45917975.1 �4
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
"Regulations" means any proposed, temporary, or final Income Tax
Regulations issued pursuant to Sections 103 and 141 through 150 of the Code, and 103
of the Internal Revenue Code of 1954, which are applicable to the Contracts. Any
reference to any specific Regulation shall also mean, as appropriate, any proposed,
temporary or final Income Tax Regulation designed to supplement, amend or replace
the specific Regulation referenced.
"Yield" of (1) any Investment has the meaning set forth in Section 1.148-5 of
the Regulations; and (2) the Contracts has the meaning set forth in Section 1.148-4 of
the Regulations.
(b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use of, or
omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or
improvement of which is to be financed directly or indirectly with Gross Proceeds) in a manner which
if made or omitted, respectively, would cause the interest on any Contract to become includable in the
gross income, as defined in section 61 of the Code, of the owner thereof for federal income tax
purposes. Without limiting the generality of the foregoing, unless and until the City receives a written
opinion of counsel nationally recognized in the field of municipal bond law to the effect that failure to
comply with such covenant will not adversely affect the exemption from federal income t� of the
interest on any Contract, the City shall comply with each of the specific covenants in this Section.
(c} No Private Use or Private Pavments. Except as permitted by section 141 of the Code
and the Regulations and rulings thereunder, the City shall at all times prior to the last Stated Maturity
of Contracts:
(1) exclusively own, operate and possess all property the acquisition,
construction or improvement of which is to be financed or refinanced directly or
indirectly with Gross Proceeds of the Contracts, and not use or permit the use of such
Gross Proceeds (including all contractual arrangements with terms different than those
applicable to the general public) or any property acquired, constructed or improved with
such Gross Proceeds in any activity carried on by any person or entity (including the
United States or any agency, department and instrumentality thereo fl other than a state
or local government, unless such use is solely as a member of the general public; and
(2) not directly or indirectly impose or accept any charge or other payment
by any person or entity who is treated as using Gross Proceeds of the Contracts or any
property the acquisition, construction or improvement of which is to be financed or
refinanced directly or indirectly with such Gross Proceeds, other than taxes of general
application within the City or interest earned on investments acquired with such Gross
Proceeds pending application for their intended purposes.
(d) No Private Loan. Except to the extent permitted by section 141 of the Code and the
Regulations and rulings thereunder, the City shall not use Gross Proceeds of the Contracts to make or
finance loans to any person or entity other than a state or local government. For purposes of the
foregoing covenant, such Gross Proceeds are considered to be "loaned" to a person or entity i£ (1)
property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person
or entity in a transaction which creates a debt for federal income tax purposes; (Z) capacity in or
service from such property is committed to such person or entity under a take-or-pay, output or similar
contract or arrangement; or (3) indirect benefits, or burdens and benefits of ownership, of such Gross
45917975.1 15
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
Proceeds or any property acquired, constructed or improved with such Gross Proceeds are otherwise
transferred in a transaction which is the economic equivalent of a loan.
(e) Not to Invest at Hi�her Yield. Except to the ex�ent permitted by section 148 of the
Code and the Regulations and rulings thereunder, the City shall not at any time prior to the final Stated
Maturity of the Contracts directly or indirectly invest Gross Proceeds in any Investment (or use Gross
Proceeds to replace money so invested), if as a result of such investment the Yield from the Closing
Date of all Investments acquired with Gross Proceeds (or with money replaced thereby), whether then
held or previously disposed of, exceeds the Yield of the Contracts.
(f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of the Code
and the Regulations and rulings thereunder, the City shall not take or omit to take any action which
would cause the Contracts to be federally guaranteed within the meaning of section 149(b) of the Code
and the Regulations and rulings thereunder.
(g) Information Report. The City shall timely file the information required by section
149(e) of the Code with the Secretary of the Treasury on Form 8038-G or such other form and in such
place as the Secretary may prescribe.
(h) Rebate of Arbitra�e Profits. Except to the extent otherwise provided in section 148(fl
of the Code and the Regulations and rulings thereunder:
(1) The City shall account for all Gross Proceeds (including all receipts,
expenditures and investments thereo� on its books of account separately and apart from
all other funds (and receipts, expenditures and investments thereo fl and shall retain all
records of accounting for at least six years after the day on which the last Outstanding
Contract is discharged. However, to the extent permitted by law, the City may
commingle Gross Proceeds of the Contracts with other money of the City, provided that
the City separately accounts for each receipt and expenditure of Gross Proceeds and the
obligations acquired therewith.
(2) Not less frequently than each Computation Date, the City shall calculate
the Rebate Amount in accordance with rules set forth in section 148(� of the Code and
the Regulations and rulings thereunder. The City shall maintain such calculations with
its official transcript of proceedings relating to the issuance of the Contracts until six
years after the final Computation Date.
(3) As additional consideration for the purchase of the Contracts by the
Underwriters and the loan of the money represented thereby and in order to induce such
purchase by measures designed to insure the excludability of the interest thereon from
the gross income of the owners thereof for federal income tax purposes, the City shall
pay to the United States out of an appropriate fund, or if permitted by applicable Texas
statute, regulation or opinion of the Attorney General of the State of Texas, the Interest
and Sinking Fund the amount that when added to the future value of previous rebate
payments made for the Contracts equals (i) in the case of a Final Computation Date as
defined in Section 1.148-3(e)(2) of the Regulations, one hundred percent (100%) of the
Rebate Amount on such date; and (ii) in the case of any other Computation Date, ninety
percent (90%) of the Rebate Amount on such date. In all cases, the rebate payments
shall be made at the times, in the installments, to the place and in the manner as is or
45917975.1 16
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
may be required by section 148(� of the Code and the Regulations and rulings
thereunder, and shall be accompanied by Form 8038-T or such other forms and
information as is or may be required by Section 148(� of the Code and the Regulations
and rulings thereunder.
(4) The City shall exercise reasonable diligence to assure that no errors are
made in the calculations and payments required by paragraphs (2) and (3), and if an
error is made, to discover and promptly correct such error within a reasonable amount
of time thereafter (and in all events within one hundred eighty (180) days after
discovery of the error), including payment to the United States of any additional Rebate
Amount owed to it, interest thereon, and any penalty imposed under Section 1.148 3(h)
of the Regulations.
(i) Not to Divert Arbitra�e Profits. Except to the extent permitted by section 148 of the
Code and the Regulations and rulings thereunder, the City shall not, at any time prior to the earlier of
the Stated Maturity or final payment of the Contracts, enter into any transaction that reduces the
amount required to be paid to the United States pursuant to Subsection (h) of this Section because such
transaction results in a smaller profit or a larger loss than would have resulted if the transaction had
been at arm's length and had the Yield of the Contracts not been relevant to either party.
(j) Elections. The City hereby directs and authorizes the Mayor, Mayor Pro Tem, City
Manager, Finance Director and City Secretary, either individually or jointly, to make elections
permitted or required pursuant to the provisions of the Code or the Regulations, as they deem
necessary or appropriate in connection with the Contracts, in the Certificate as to Tax Exemption or
similar or other appropriate certificate, form or document.
SECTION 14: Sale of the Contracts. The offer of American National Bank of Texas, Wylie,
Texas (herein referred to as the "Initial Contracting Party") to purchase the Contracts in accordance
with a letter, dated June 12, 2007, attached hereto as Exhibit C and incorporated herein by reference as
a part of this Ordinance for all purposes is hereby accepted and the sale of the Contract to said Initial
Contracting Party is hereby approved and authorized. The Mayor and City Secretary are hereby
authorized and directed to sign the acceptance clause of said letter for and on behalf of the City and as
the act and deed of this City Council. Delivery of the Contracts to the Purchasers shall occur as soon
as possible upon payment being made therefor in accordance with the terms of sale.
SECTION 15: Cancellation. All Contracts surrendered for payment, prepayment, transfer,
exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be promptly cancelled by
it and, if surrendered to the City, shall be delivered to the Paying Agent/Registrar and, if not already
cancelled, shall be promptly cancelled by the Paying Agent/Registrar. The City may at any time
deliver to the Paying Agent/Registrar for cancellation any Contracts previously certified or registered
and delivered which the City may have acquired in any manner whatsoever, and all Contracts so
delivered shall be promptly cancelled by the Paying Agent/Registrar. All cancelled Contracts held by
the Paying Agent/Registrar shall be returned to the City.
SECTION 16: Notices of Contractin� Parties. Wherever Ordinance provides for notice to
Contracting Parties of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and sent by United States Mail, first class postage prepaid, to the
address of each Contracting Party appearing in the Contract Register at the close of business on the
business day next preceding the mailing of such notice.
45917975.1 �7
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
In any case where notice to Contracting Parties is given by mail, neither the failure to mail such
notice to any particular Contracting Party, nor any defect in any notice so mailed, shall affect the
sufficiency of such notice with respect to all other Contracts. Where this Ordinance provides for
notice in any manner, such notice may be waived in writing by the Contracting Party entitled to receive
such notice, either before or after the event with respect to which such notice is given, and such waiver
shall be the equivalent of such notice. Waivers of notice by a Contracting Party shall be filed with the
Paying Agent/Registrar, but such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.
SECTION 17: Proceeds of Sale. The Aggregate Contract Amount(less amounts to pay costs of
issuance) shall be deposited in an acquisition fund maintained at the City's depository bank. Pending
expenditure for the Property, such funds may be invested in authorized investments, and any earnings
from such investments may be expended for the Property or deposited to the credit of the Sinking
Fund. All surplus proceeds of sale of the Contracts, including investment earnings, remaining after
acquisition of the Property shall be deposited to the credit of the Sinking Fund.
SECTION 18: Le a� 1 Opinion. The Initial Contracting Party's obligation to accept delivery of
the Contracts is subject to being furnished a final opinion of Fulbright & Jaworski L.L.P., Attorneys,
Dallas, Texas, approving the Contracts as to their validity, said opinion to be dated and delivered as of
the date of delivery and payment for the Contracts.
SECTION 19: CUSIP Numbers. CUSIP numbers may be printed or typed on the definitive
Contracts. It is expressly provided, however, that the presence or absence of CUSIP numbers on the
definitive Contracts shall be of no significance or effect as regards the legality thereof and neither the
City nor attorneys approving the Contracts as to legality are to be held responsible for CUSII' numbers
incorrectly printed or typed on the definitive Contracts.
SECTION 20: Benefits of Ordinance. Nothing in this Ordinance, expressed or implied, is
intended or shall be construed to confer upon any person other than the City, the Paying
Agent/Registrar and the Contracting Parties, any right, remedy, or claim, legal or equitable, under or
by reason of this Ordinance or any provision hereof, this Ordinance and all its provisions being
intended to be and being for the sole and exclusive benefit of the City, the Paying Agent/Registrar and
the Contracting Parties.
SECTION 21: Inconsistent Provisions. All ordinances, orders or resolutions, or parts thereof,
which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed to the
extent of such conflict, and the provisions of this Ordinance shall be and remain controlling as to the
matters contained herein.
SECTION 22: Governing Law. This Ordinance and the Contracts authorized to be executed
and delivered hereunder shall be construed and enforced in accordance with the laws of the State of
Texas and the United States of America.
SECTION 23: Effect of Headin�s. The Section headings herein are for convenience only and
shall not affect the construction hereof.
SECTION 24: Construction of Terms. If appropriate in the context of this Ordinance, words of
the singular number shall be considered to include the plural, words of the plural number shall be
45917975.1 �$
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
considered to include the singular, and words of the masculine, feminine or neuter gender shall be
considered to include the other genders.
SECTION 25: Severability. If any provision of this Ordinance or the application thereof to any
circumstance shall be held to be invalid, the remainder of this Ordinance and the application thereof to
other circumstances shall nevertheless be valid, and the City Council hereby declares that this
Ordinance would have been enacted without such invalid provision.
SECTION 26: Public Meetin�. It is officially found, determined, and declared that the meeting
at which this Ordinance is adopted was open to the public and public notice of the time, place, and
subject matter of the public business to be considered at such meeting, including this Ordinance, was
given, all as required by V.T.C.A., Local Government Code, Chapter 551, as amended.
SECTION 27: Effective Date. This Ordinance shall take effect and be in full force from and
after its adoption on the date shown below in accordance with V.T.C.A., Government Code, Section
1201.028.
[remainder of page left blank intentionallyJ
45917975.1 19
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
DULY PASSED AND ADOPTED, this June 12, 2007.
CITY OF WYLIE, TEXAS
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City Secretar�y
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Date of pu�#�'i�6�tl�in The Wvle News-June 20, 2007
45917975.1 A-�
Ordinance No.2007-16
Public Property Finance Contractual Obiigation
Purchase of a Quint
EXHIBIT A
DESCRIPTION OF PROPERTY
Description of Property Estimated Cost
Spartan Diamond Medium 4 door chassis; $740,000
Cummings ISL 400 HP engine; Allison
Transmission; Waterous 1750 gpm pump;
American Lafrance Telesqirt
75 foot ladder; dual deck guns
Cost of Issuance $10,000
45917975.1 A-�
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
EXHIBIT B
PAYING AGENT/REGISTRAR AGREEMENT
45917975.1 B-�
Ordinance No.2007-16
Public Property Finance Contractual Obligation
Purchase of a Quint
PAYING AGENT/REGISTRAR AGREEMENT
THIS AGREEMENT entered into as of June 12, 2007 (this "Agreement"), by and
betwreen the City of Wylie, Texas (the "Issuer"), and The American National Bank of Texas,
Wylie, Texas, a banking corporation organized and existing under the laws of the United States
of America, or its successors (the "Bank").
RECITALS
WHEREAS, the lssuer has duly authorized and provided for the execution and delivery
of it:� "City of Wylie, Texas, Public Property Finance Contractual Obligations, Series 2007" (the
"Cor�tracts"), dated June 15, 2007, which Contracts are scheduled to be delivered to the initial
contracting party on or about July 17, 2007; and
WHEREAS, the Issuer has selected the Bank to serve as paying agent, registrar and
tran:�fer agent with respect to such Contracts; and
WHEREAS, the Bank has agreed to serve in such capacities for and on behalf of the
Issuer and has full power and authority to perForm and serve as Paying Agent/Registrar for the
Contracts;
NOW, THEREFORE, it is mutually agreed as follows:
ARTICLE ONE
APPOINTMENT OF BANK AS PAYING AGENT AND REGISTRAR
Section 1.01. Appointment. The Issuer hereby appoints the Bank to serve as Paying
Agent with respect to the Contracts, and, as Paying Agent for the Contracts, the Bank shall be
resp�onsible for paying on behalf of the Issuer the Installment Amounts and accrued interest
ther�son as the same shall become due and payable to the Contracting Parties; all in
accordance with this Agreement and the "Contract Resolution" (hereinafter defined). The Issuer
here�by appoints the Bank as Registrar with respect to the Contracts and, as Registrar for the
Contracts, the Bank shall keep and maintain for and on behalf of the Issuer books and records
as to the parties to said Contracts entitled to payment and with respect to the transfer and
exchange thereof as provided herein and in the "Contract Resolution".
The Bank hereby accepts its appointment, and agrees to serve as the Paying Agent and
Registrar for the Contracts.
Section 1.02. Compensation. As compensation for the Bank's services as Paying
Agent/Registrar, the Issuer hereby agrees to pay the Bank the fees and amounts set forth in
Annex A attached hereto.
In addition, the Issuer agrees to reimburse the Bank upon its request for all reasonable
expE�nses, disbursements and advances incurred or made by the Bank in accordance with any
of the provisions hereof (including the reasonable compensation and the expenses and
disbursements of its agents and counsel).
45922453.1/10706272
ARTICLE TWO
DEFINITIONS
Section 2.01. Definitions. For all purposes of this Agreement, except as otherwise
expressly provided or unless the context otherwise requires:
"Bank Office" means the offices of the Bank located at the address
appearing on the signature page hereof. The Bank will notify the Issuer in writing
of any change in location of the Bank Office.
"Contract Resolution" means the resolution, order, or ordinance of the
governing body of the Issuer pursuant to which the Contracts are authorized to
be executed and delivered, certified by the Secretary or any other officer of the
Issuer and delivered to the Bank.
"Contracting Party" means the Person in whose name a Contract is
registered in the Contract Register.
"Fiscal Year" means the fiscal year of the Issuer, ending September 30th.
"Issuer Request" and "Issuer Order" means a written request or order
signed in the name of the Issuer by the Mayor, City Manager, Finance Director,
or City Secretary, any one or more of said officials, and delivered to the Bank.
"Legal Holiday" means a day on which the Bank is required or authorized
to be closed.
"Payment Date" means the date specified in the Contract Resolution the
Installment Amounts and interest thereon are scheduled to be due and payable.
"Person" means any individual, corporation, partnership, joint venture,
association, joint stock company, trust, unincorporated organization or
government or any agency or political subdivision of a government.
"Predecessor Contracts" of any particular Contract means every previous
Contract evidencing all or a portion of the same obligation as that evidenced by
such particular Contract (and, for the purposes of this definition, any mutilated,
lost, destroyed, or stolen Contract for which a replacement Contract has been
registered and delivered in lieu thereof pursuant to the Contract Resolution).
"Responsible Officer" when used with respect to the Bank means the
Chairman or Vice-Chairman of the Board of Directors, the Chairman or
Vice-Chairman of the Executive Committee of the Board of Directors, the
President, any Vice President, the Secretary, any Assistant Secretary, the
Treasurer, any Assistant Treasurer, the Cashier, any Assistant Cashier, any
Trust Officer or Assistant Trust Officer, or any other officer of the Bank
customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of his
knowledge of and familiarity with the particular subject.
45922',453.1/10706272 2
Section 2.02. Other Definitions. The terms "Bank," "Issuer," and "Contracts (Contract)"
have� the meanings assigned to them in the recital paragraphs of this Agreement. Unless
otherwise defined herein, capitalized terms used herein shall have the same meanings ascribed
there;to in the Contract Resolution.
The term "Paying Agent/Registrar" refers to the Bank in the performance of the duties
and �Functions of this Agreement.
ARTICLE THREE
PAYING AGENT
Section 3.01. Duties of Paving Aqent. As Paying Agent, the Bank shall, provided
adequate collected funds have been provided to it for such purpose by or on behalf of the
Issu��r, pay on behalf of the Issuer the Installment Amount of each Contract on the Payment
Date� to the Contracting Party upon surrender of the Contract to the Bank at the Bank Office.
As Paying Agent, the Bank shall, provided adequate collected funds have been provided
to it for such purpose by or on behalf of the Issuer, pay on behalf of the Issuer the interest on
eacf i Contract when due, by computing the amount of interest to be paid each Contracting Party
and making payment thereof to the Holders of the Securities (or their Predecessor Securities)
on the Record Date. All payments of Installment Amounts and/or interest on the Contracts to
the �Contracting Party shall be accomplished (1) by the issuance of checks, payable to the
Coni:racting Party, drawn on the special depository account provided in Section 5.05 hereof,
sent by United States mail, first class, postage prepaid, to the address appearing on the
Coni:ract Register or (2) by such other method, acceptable to the Bank, requested in writing by
the (�ontracting Party at the Contracting Party's risk and expense.
Section 3.02. Pavment Dates. The Issuer hereby instructs the Bank to pay the
Installment Amounts of the Contracts and the interest thereon at the dates specified in the
Conirract Resolution.
ARTICLE FOUR
REGISTRAR
Section 4.01. Contract Register- Transfers and Exchanqes. The Bank agrees to keep
and maintain for and on behalf of the Issuer at the Bank Office books and records (herein
sometimes referred to as the "Contract Register") for recording the names and addresses of the
Conirracting Parties to the Contracts, the transfer, exchange and replacement of the Contracts
and the payment of the Installment Amounts and interest on the Contracts to the Contracting
Partiies and containing such other information as may be reasonably required by the Issuer and
subj�ect to such reasonable regulations as the Issuer and Bank may prescribe. All transfers,
excl-ianges and replacement of Contracts shall be noted in the Contract Register.
Every Contract surrendered for transfer or exchange shall be duly endorsed or be
accc�mpanied by a written instrument of transfer, the signature on which has been guaranteed
by an officer of a federal or state bank or a member of the National Association of Securities
Dea'lers, in form satisfactory to the Bank, duly executed by the Contracting Party or his agent
duly authorized in writing.
The Bank may request any supporting documentation it feels necessary to effect a
re-rE;gistration, transfer or exchange of the Contracts.
45921453.1/10706272 3
To the extent possible and under reasonable circumstances, the Bank agrees that, in
relation to an exchange or transfer of Contracts, the exchange or transfer by the Contracting
Parties will be completed and new Contracts delivered to the Contracting Party or the assignee
of ti-ie Contracting Party in not more than three (3) business days after the receipt of the
Conl:racts to be cancelled in an exchange or transfer and the written instrument of transfer or
request for exchange duly executed by the Contracting Party, or his duly authorized agent, in
form and manner satisfactory to the Paying Agent/Registrar.
Section 4.02. Certificates. The Issuer shall provide an adequate inventory of printed
Coni:racts to facilitate transfers or exchanges thereof. The Bank covenants that the inventory of
printed Contracts will be kept in safekeeping pending their use and reasonable care will be
exercised by the Bank in maintaining such Contracts in safekeeping, which shall be not less
than the care maintained by the Bank for debt securities of other governments or corporations
for wrhich it serves as registrar, or that is maintained for its own securities.
Section 4.03. Form of Contract Reqister. The Bank, as Registrar, will maintain the
Conftract Register relating to the registration, payment, transfer and exchange of the Contracts
in ac:cordance with the Bank's general practices and procedures in effect from time to time. The
Banlc shall not be obligated to maintain such Contract Register in any form other than those
which the Bank has currently available and currently utilizes at the time.
The Contract Register may be maintained in written form or in any other form capable of
being converted into written form within a reasonable time.
Section 4.04. List of Contractinq Parties. The Bank will provide the Issuer at any time
requested by the Issuer, upon payment of the required fee, a copy of the information contained
in the Contract Register. The Issuer may also inspect the information contained in the Contract
Register at any time the Bank is customarily open for business, provided that reasonable time is
allovved the Bank to provide an up-to-date listing or to convert the information into written form.
The Bank will not release or disclose the contents of the Contract Register to any person
other than to, or at the written request of, an authorized officer or employee of the Issuer, except
upon receipt of a court order or as otherwise required by law. Upon receipt of a court order and
prior to the release or disclosure of the contents of the Contract Register, the Bank will notify the
Issuer so that the Issuer may contest the court order or such release or disclosure of the
contents of the Contract Register.
Section 4.05. Return of Cancelled Certificates. The Bank will, at such reasonable
intervals as it determines, cancel and destroy, pursuant to the Securities and Exchange Act of
193��, Contracts in lieu of which or in exchange for which other Contracts have been issued, or
whic:h have been paid.
Section 4.06. Mutilated, Destroved, Lost or Stolen Contracts. The Issuer hereby
instructs the Bank, subject to the provisions of the Contract Resolution, to deliver and issue
Contracts in exchange for or in lieu of mutilated, destroyed, lost, or stolen Contracts as long as
the :same does not result in an overissuance.
In case any Contract shall be mutilated, or destroyed, lost or stolen, the Bank, in its
discretion, may execute and deliver a replacement Contract of like form and tenor, and in the
same denomination and bearing a number not contemporaneously outstanding, in exchange
and substitution for such mutilated Contract, or in lieu of and in substitution for such destroyed
4592:?453.1/10706272 4
lost �or stolen Contract upon approval by the Issuer and after (i) the filing by the Contracting
Party with the Bank of evidence satisfactory to the Bank of the destruction, loss or theft of such
Contract, and of the authenticity of the ownership thereof and (ii) the furnishing to the Bank of
indemnification in an amount satisfactory to hold the Issuer and the Bank harmless. All
expe�nses and charges associated with such indemnity and with the preparation, execution and
delivery of a replacement Contract shall be borne by the Contracting Party to the Contract
mutilated, or destroyed, lost or stolen.
Section 4.07. Transaction Information to Issuer. The Bank will, within a reasonable
time after receipt of written request from the Issuer, furnish the Issuer information as to the
Coni:racts it has paid pursuant to Section 3.01, Contracts it has delivered upon the transfer or
exch�ange of any Contracts pursuant to Section 4.01, and Contracts it has delivered in exchange
for or in lieu of mutilated, destroyed, lost, or stolen Contracts pursuant to Section 4.06.
ARTICLE FIVE
THE BANK
Section 5.01. Duties of Bank. The Bank undertakes to perform the duties set forth
herein and agrees to use reasonable care in the performance thereof.
Section 5.02. Reliance on Documents, Etc. (a) The Bank may conclusively rely, as to
the truth of the statements and correctness of the opinions expressed therein, on certificates or
opinions furnished to the Bank.
(b) The Bank shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it shall be proved that the Bank was negligent in ascertaining the
pertinent facts.
(c) No provisions of this Agreement shall require the Bank to expend or risk its own
funds or otherwise incur any financial liability for performance of any of its duties hereunder, or
in th�e exercise of any of its rights or powers, if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity satisfactory to it against such risks or
liability is not assured to it.
(d) The Bank may rely and shall be protected in acting or refraining from acting upon
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
con:>ent, order, bond, note, security, or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties. Without limiting the
genE:rality of the foregoing statement, the Bank need not examine the ownership of any
Contracts, but is protected in acting upon receipt of Contracts containing an endorsement or
instruction of transfer or power of transfer which appears on its face to be signed by the
Contracting Party or an agent of the Contracting Party. The Bank shall not be bound to make
any investigation into the facts or matters stated in a resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, note, security, or
othe�r paper or document supplied by Issuer.
(e) The Bank may consult with counsel, and the written advice of such counsel or
any opinion of counsel shall be full and complete authorization and protection with respect to
any action taken, suffered, or omitted by it hereunder in good faith and in reliance thereon.
4592:?453.1/10706272 �J
(� The Bank may exercise any of the powers hereunder and perform any duties
hereunder either directly or by or through agents or attorneys of the Bank.
Section 5.03. Recitals of Issuer. The recitals contained herein with respect to the
Issuf�r and in the Contracts shall be taken as the statements of the Issuer, and the Bank
assumes no responsibility for their correctness.
The Bank shall in no event be liable to the Issuer, any Contracting Party to any Contract,
or ariy other Person for any amount due on any Contract from its own funds.
Section 5.04. May Hold Contracts. The Bank, in its individual or any other capacity,
may become the owner or pledgee of Contracts and may otherwise deal with the Issuer with the
same rights it would have if it were not the Paying AgenURegistrar, or any other agent.
Section 5.05. Moneys Held bv Bank - Special Depository Account/Collateralization.
A sK►ecial depository account shall at all times be kept and maintained by the Bank for the
receipt, safekeeping and disbursement of moneys received from the Issuer hereunder for the
payrnent of the Contracts, and money deposited to the credit of such account until paid to the
Conl:racting Parties to the Contracts shall be continuously collateralized by securities or
obligiations which qualify and are eligible under the laws of the State of Texas to secure and be
pled��ed as collateral for special depository accounts to the extent such money is not insured by
the Federal Deposit Insurance Corporation. Payments made from such special depository
accc�unt shall be made by check drawn on such special depository account unless the
Coni:racting Party shall, at its own expense and risk, request such other medium of payment.
The Bank shall be under no liability for interest on any money received by it hereunder.
Subject to the applicable unclaimed property laws of the State of Texas, any money
deposited with the Bank for the payment of any Contract, including interest thereon, and
rem��ining unclaimed for three years after final maturity of the Contract has become due and
pay�ble will be paid by the Bank to the Issuer, and the Contracting Party to such Contract shall
therE�after look only to the Issuer for payment thereof, and all liability of the Bank with respect to
sucri moneys shall thereupon cease.
Section 5.06. Indemnification. To the ext'ent permitted by law, the Issuer agrees to
indemnify the Bank for, and hold it harmless against, any loss, liability, or expense incurred
with��ut negligence or bad faith on its part, arising out of or in connection with its acceptance or
administration of its duties hereunder, including the cost and expense against any claim or
liability in connection with the exercise or performance of any of its powers or duties under this
Agre�ement.
Section 5.07. Interpleader. The Issuer and the Bank agree that the Bank may seek
adjudication of any adverse claim, demand, or controversy over its person as well as funds on
deposit, in either a Federal or State District Court located in the State and County where either
the 13ank Office or the administrative offices of the Issuer is located, and agree that service of
process by certified or registered mail, return receipt requested, to the address referred to in
Secl:ion 6.03 of this Agreement shall constitute adequate service. The Issuer and the Bank
furth�er agree that the Bank has the right to file a Bill of Interpleader in any court of competent
jurisdiction to determine the rights of any Person claiming any interest herein.
45921453.1/10706272 6
Section 5.08. DTC Services. It is hereby represented and warranted that, in the event
the C;ontracts are otherwise qualified and accepted for "Depository Trust Company" services or
equiNalent depository trust services by other organizations, the Bank has the capability and, to
the e�xtent within its control, will comply with the "Operational Arrangements", which establishes
requirements for securities to be eligible for such type depository trust services, including, but
not Ilimited to, requirements for the timeliness of payments and funds availability, transfer
turn�round time, and notification of redemptions and calls.
ARTICLE SIX
MISCELLANEOUS PROVISIONS
Section 6.01. Amendment. This Agreement may be amended only by an agreement in
writirig signed by both of the parties hereto.
Section 6.02. Assiqnment. This Agreement may not be assigned by either party without
the �>rior written consent of the other.
Section 6.03. Notices. Any request, demand, authorization, direction, notice, consent,
waiver, or other document provided or permitted hereby to be given or furnished to the Issuer or
the f3ank shall be mailed or delivered to the Issuer or the Bank, respectively, at the addresses
shovvn on page 9.
Section 6.04. Effect of Headinqs. The Article and Section headings herein are for
conwenience only and shall not affect the construction hereof.
Section 6.05. Successors and Assiqns. All covenants and agreements herein by the
Issuer shall bind its successors and assigns, whether so expressed or not.
Section 6.06. Severabilitv. In case any provision herein shall be invalid, illegal, or
uner�forceable, the validity, legality, and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.
Section 6.07. Benefits of Agreement. Nothing herein, express or implied, shall give to
any Person, other than the parties hereto and their successors hereunder, any benefit or any
legal or equitable right, remedy, or claim hereunder.
Section 6.08. Entire Aqreement. This Agreement and the Contract Resolution
con:�titute the entire agreement between the parties hereto relative to the Bank acting as Paying
Ageint/Registrar and if any conflict exists between this Agreement and the Contract Resolution,
the Contract Resolution shall govern.
Section 6.09. Counterparts. This Agreement may be executed in any number of
couriterparts, each of which shall be deemed an original and all of which shall constitute one
and the same Agreement.
Section 6.10. Termination. This Agreement will terminate (i) on the date of final
payrnent of the Installment Amounts and interest on the Contracts to the Contracting Parties
ther�eof or (ii) may be earlier terminated by either party upon sixty (60) days written notice;
pro��ided, however, an early termination of this Agreement by either party shall not be effective
until (a) a successor Paying Agent/Registrar has been appointed by the Issuer and such
app��intment accepted and (b) notice given to the Contracting Parties to the Contracts of the
4592:?453.1/10706272 7
appc�intment of a successor Paying Agent/Registrar. Furthermore, the Bank and Issuer
mutually agree that the effective date of an early termination of this Agreement shall not occur at
any 1:ime which would disrupt, delay or otherwise adversely affect the payment of the Contracts.
The resigning Paying Agent/Registrar may petition any court of competent jurisdiction for
the ��ppointment of a successor Paying Agent/Registrar if an instrument of acceptance by a
successor Paying Agent/Registrar has not been delivered to the resigning Paying
Agerit/Registrar within sixty (60) days after the giving of such notice of resignation.
Upon an early termination of this Agreement, the Bank agrees to promptly transfer and
deliver the Contract Register (or a copy thereofl, together with other pertinent books and
records relating to the Contracts, to the successor Paying Agent/Registrar designated and
appc>inted by the Issuer.
The provisions of Section 1.02 and of Article Five shall survive and remain in full force
and effect following the termination of this Agreement.
Section 6.11. Governinq Law. This Agreement shall be construed in accordance with
and governed by the laws of the State of Texas.
4592:2453.1/10706272 $
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day ��nd year first above written.
CITI'' OF WYLIE, TEXAS THE AMERICAN NATIONAL BANK OF TEXAS,
Wylie, Texas
By:
May��r Title:
ATTIEST: ATTEST:
City Secretary Title:
Addi�ess: 2000 Highway 78 North Address: P.O. Box 1268
Wylie, Texas 75098 Wylie, Texas 75098
45922453.1/10706272 S-�
ANNEX A
FEE SCHEDULE FOR BANK
45922453.1/10706272 A-�
EXHIBIT C
PURCHASE LETTER
45917975.1 C-�
Ordinance No.2007-16
Public Property Finance Contractua] Obligation
Purchase of a Quint
�
AMERICAN NATIONAL BANK OF TEXAS
www.anbtx.com
June 12, 2007
Honorable Mayor and City Council
City of Wylie
2000 Highway 78 North
Wylie, Texas 75098
Re: $750,000 "City of Wylie, Texas, Public Property Finance Contractual Obligations, Series
2007", dated June 15, 2007
Dear Mayor and City Council Members:
The American National Bank of Texas, Wylie, Texas, hereby offers to purchase
$750,000 City of Wylie, Texas, Public Property Finance Contractual Obligations, Series 2007, at
the price of par plus accrued interest to the date of delivery; such Contracts to mature and bear
interest at the per annum rate from their date as follows:
Installment Interest
Payment Date Amount Rate(s)
2008 $ 30,000 4.855%
2009 35,000 4.855%
2010 40,000 4.855%
2011 40,000 4.855%
2012 45,000 4.855%
2013 45,000 4.855%
2014 45,000 4.855%
2015 50,000 4.855%
2016 50,000 4.855%
2017 55,000 4.855%
2018 55,000 4.855%
2019 60,000 4.855%
2020 65,000 4.855%
2021 65,000 4.855%
2022 70,000 4.855%
We understand the Contracts will be dated June 15, 2007 and will be optional for prior
prepayment on any interest payment date at the price of par plus accrued interest.
Furthermore, we understand the Contracts will be approved by the Attorney General of Texas,
the City will furnish the Bank with the market opinion of Fulbright & Jaworski L.L.P., Bond
Counsel to the City. It is understood the Contracts will be available for delivery to us on or
about July 17, 2007.
The Bank has been furnished with all necessary information desired for the Bank to
make an informed decision concerning the purchase of the Contracts, and the Bank has made
such inspections and investigations as deemed necessary to determine the investment quality
of the Contracts and assess all risk factors associated with the purchase and ownership of the
Wylie Banking Center,301 State Hwy.78 South,Wylie,Texas 75098
M E M B E R F D I C Metro(972)442-6565 Fax(214)863-6120
Contracts. The Bank has purchased the Contracts for its own account for investment (and not
on behalf of another), and the Bank has no present intention of reselling the Contracts or
dividing the Bank's interest therein (including participations), either currently or after the
passage of a fixed or determinable period of time or upon the occurrence or nonoccurrence of
any predetermined event or circumstance; but the Bank reserves the right to sell, pledge,
transfer, convey, hypothecate, or dispose of the Contracts at some future date.
Furthermore, the Bank hereby certifies and represents that (1) the Contracts were
issued for cash and were not publicly offered, (2) the price paid by the undersigned for the
Contracts is $750,000, plus accrued interest thereon to the date of delivery, and (3) the
undersigned understands that the statements contained herein will be relied upon by the Issuer
in its effort to comply with the conditions imposed by the Internal Revenue Code of 1986, as
amended to the date of initial delivery of the Contracts, and Bond Counsel in rendering their
opinion that the interest on the Notes is excludable from the gross income of the owners thereof
Sincerely,
THE AMERICAN NATIONAL BANK OF TEXAS,
Wylie, Texas,
By. � .
Title:
` �� � �
APPROVED AND ACCEPTED by the City Council of the City of Wylie, Texas, this the
12t" day of June, 2007.
CITY OF WYLIE, TEXAS
�
Ma or
ATTEST:
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, �Ije JfarmergbiC(e�ime� •Murphy Monitor•The Princeton Herald • The Sachse News•THE WYLIE NEWS
STATE OF TEXAS , ��
COUNTY OF COLLIN
I L� � C�
Before me, the undersigned authority, on this day personally appeared Chad Engbrock,
publisher of The Wylie News, a newspaper regularly published in Collin County, Texas and
having general circulation in Collin County, Texas, who being by me duly sworn, deposed and
says that the foregoing attached
City of Wylie
Ordinance No. 2007-16 and No. 2007-17was published in said newspaper on the following
dates,to-wit: June 20, 2007.
r 1
P
,
Chad Engbrock,Publisher
��
Subscribed and sworn before me on this,the � � day of J l.(/rll�- ,2007
to certify which witness my hand and seal of office.
,+Rvv' l.�/�1.16'�
,o;;, pe;,,, MARY SWANK
�•��°� Notary PUbIIC�scecs ot fi�x�� otary ublic in and for
;;., .,: My Commiselon Expife�
"�-:;�Ea<<t:,°� September 22,�010 The State of Texas
-,,,���,,,,
q_ � �. - �a �a
My commission expires
Murphy/Sachse/Wylie Office•110 N.Ballard•P.O.Box 369•Wylie,TX 75098•972-442-5515•fax 972-442-4318
Farmersville/Princeton Office•101 S.Maiii•P.O.Box 512•Fa�meisville,TX 75442•972-784-6397•fas 972-782-7023
�
NO.�'Y-16
'`�N ORDTNANCE
APPRO'VING q�
AUTHOI2IZI1VGs �
EXECUTx(7N Ai1TD
DLLIVERY OF "CiTY
CQF .V4�YLIE, 1'EXAS,
PUBLIC; PRO'PER�Y
FINANCE CUNTRAC-
OBLI�AITONS,�SF.R.IES
2#�0�'; , ° ��I{?YIATG
T� T�� (� SUf,"�I
P�;�1�,�'T�
YIwIENT THEREOF;
'�� RESQTVING
D�I'HER���
TO THE ExECUZ'�ON,
PERFOI�MAN�E AND
kAYMENT OF SUCH
CONTRqCT3, INCLU�-
IN� T� APPROVAi.
f1ND EXECUTTON UF A
PAYING AGENT�REGIS�
TRAR AGREEMEIVT
AND A PURCHASE
AGA�?�iMEiy'T JN RFd,,q_
1Tt1N TH�RB1'O; AhiD
PRt�ti'�3IIV(i.4l+t��C-
�`I3�11E.