HomeMy WebLinkAbout93-804 03-09-1993RESOLUTION 93 -804
WHEREAS, the City of Euless (the "Issuer ") has outstanding securities in
the state and local government securities market or is planning an issue in the
near future; and
WHEREAS, the Issuer appreciates the support of the investment community for
the financing efforts of the Issuer; and
WHEREAS, the maintenance of ratings, if any, for the Issuer's rated
securities depend in part upon the continued availability of information to the
rating agencies; and
WHEREAS, the Issuer has been informed that the liquidity of its securities
in the secondary market may be affected by the availability of information and
maintenance of ratings; and
WHEREAS, the Issuer desires to maintain excellent relations with its
investors and to improve the liquidity of the Issuer's securities in the
secondary market; and
WHEREAS, the Issuer desires to receive a Certificate of Recognition from
the National Federation of Municipal Analysts, and the adoption of this
Resolution is a condition to the award of such a Certificate, although the Issuer
also recognizes that a Certificate of Recognition does not imply in any manner
a positive or negative judgment as to the accuracy or sufficiency of the
disclosure documents of the Issuer and that the Issuer is solely responsible for
the accuracy and sufficiency of its disclosure documents;
NOW, THEREFORE, BE IT RESOLVED that the Euless City Council makes the
following commitments to its investors:
1. The Issuer (or the Issuer's agent) will provide annual
audited financial statements and other pertinent credit
information relevant to the Issuer's outstanding
securities (which may be contained in official
statements), including the Issuer's Comprehensive Annual
Financial Report, if one is prepared, upon request, and
will provide copies to one or more major information
providers in the state and local government securities
market.
2. If an issue is rated, appropriate periodic credit
information necessary for maintaining the rating(s) on
the securities will be provided by the Issuer to the
rating agency(ies) rating the securities.
3. A statement will be made by the Issuer in the
Introduction to its official statements evidencing the
commitments made herein.
This resolution shall take effect from and after its date of adoption.
APPROVED AND ADOPTED at a regular meeting of the City Council of the City
of Euless, Texas, on the 9th day of March, 1993, by a vote of 6 ayes,
0 nays, and 0 abstentions.
APPROVED:
61. Harold D .Samuels
-ATTEST:
4116«.01:6/ 1e.eir
NMI
Crim, CMC, City Secretary
RESOLUTION NO. 93 -804, PAGE 2 OF 2
Mayor