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BAWA Resolution No. 2006-08 RESOLUTION NO.2006-0008 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN low AREA WATER AUTHORITY,AUTHORIZING PAYMENT FOR SERVICES RELATING TO THE ISSUANCE OF THE 2006 BAWA REVENUE BONDS IN AN AMOUNT OF FOUR HUNDRED TWENTY-SIX THOUSAND TWO HUNDRED TWO AND 01/100 DOLLARS(S426,202.01);AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER AUTHORITY: Section 1:That the Board of Directors of the Baytown Area Water Authority ("BAWA"),hereby authorizes payment in an amount of FOUR HUNDRED TWENTY-SIX THOUSAND TWO HUNDRED TWO AND 01/100 DOLLARS(S426,202.01)for services relating to the issuance of the 2006 BAWA Revenue Bonds,in accordance with Exhibit"A," which is attached hereto and incorporated herein for all intents and purposes. Section 2:That the General Manager is hereby granted the general authority to approve a decrease or an increase in costs by TWENTY-FIVE THOUSAND AND NO/100 DOLLARS(S25,000.00)or less,provided that the amount authorized in Section I hereof may not be increased by more than twenty-five percent(25%). Section 3:This resolution shall take effect immediately from and after its passage by the Board of Directors of the Baytown Area Water Authority. INTRODUCED,READ and PASSED,by the affirmative vote of the Board of Directors of the Baytown Area Water Authority this the 21"day of June,2006. B RT L.GILLETTE,President A T LORRI COOD,Assistant Secretary APPROVED AS TO FORM: s^NACIO RAMIREZ,General Counsel R:Veanene\My Documents\BAWA\IssuanceCostsAuthorized4Payment.doc EXHIBIT A Service Payment SRF Loan Origination Fee 5292,445.00 Bond Insurance 61,948.01 Financial Advisor&Bond Counsel 71,509.00 Paying Agent 300.00 Total Estimated Issuance Costs 5426,202.01 r