HomeMy WebLinkAboutCity Council Resolutions (R-96-1187)-03/19/1996
RESOLUTION NO.
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A RESOLUTION providing for the redemption of certain
outstanding bonds of the City; and resolving other
matters incident and related to the redemption of
such bonds.
WHEREAS, pursuant to ordinances passed and
City Council of the City of Colleyville, Texas,
described obligations were duly authorized to be
currently outstanding, to wit:
adopted by the
the following
issued and are
(1) City of Colleyville, Texas, Waterworks
and Sewer System Revenue Bonds, Series 1987, dated
March 1, 1987, maturing on January 1 in each of the
years 1999 through 2007, and aggregating in
principal amount $990,000; and
(2) City of Colleyville, Texas, Waterworks
and Sewer System Revenue Bonds, Series 1989, dated
August 1, 1989, maturing on January 1 in each of
the years 2001 through 2010, and aggregating in
principal amount $510,000;
AND WHEREAS, the above identified obligations were
authorized, issued, sold and delivered subject to the right and
authority of the City to redeem the same prior to maturity, as
provided in the respective authorizing ordinances and in said
obligations; and
WHEREAS, in connection with the advance refunding of the
above described obligations, the Council hereby finds and
determines that obligations of the respective series should be
redeemed prior to their maturities on the dates and in the manner
hereinafter provided and in accordance with the requirements
prescribed therefor and notice of redemption of such obligations
should be approved and authorized to be given at this time by the
Council; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
0317413
SECTION 1: The bonds of that series known as "city of
Colleyvi1le, Texas, Waterworks and Sewer System Revenue Bonds,
Series 1987", dated March 1, 1987, maturing in the years 1999
through 2007, and aggregating in principal amount $990,000, shall
be redeemed and the same are hereby called for redemption on
January 1, 1998, at the price of par and accrued interest to the
date of redemption. The city Secretary is hereby authorized and
directed to file a copy of this resolution, together with a
suggested form of notice of redemption to be sent to bondholders,
with The Bank of New York, New York, New York (successor paying
agent/registrar to InterFirst Bank Fort Worth, N.A.), in
accordance with the redemption provisions applicable to such
bonds; such suggested form of notice of redemption being attached
hereto as Exhibit A and incorporated herein by reference as a part
of this resolution for all purposes.
SECTION 2: The bonds of that series known as "City of
Colleyville, Texas, Waterworks and Sewer System Revenue Bonds,
Series 1989", dated August 1, 1989, maturing in the years 2001
through 2010, and aggregating in principal amount $510,000, shall
be redeemed and the same are hereby called for redemption on
January 1, 2000, at the price of par and accrued interest to the
date of redemption. The City Secretary is hereby authorized and
directed to file a copy of this resolution, together with a
suggested form of notice of redemption to be sent to bondholders,
with The Bank of New York, New York, New York (successor paying
agent/registrar to NCNB Texas National Bank, Fort Worth, Texas),
in accordance with the redemption provisions applicable to such
bonds; such suggested form of notice of redemption being attached
hereto as Exhibit B and incorporated herein by reference as a part
of this resolution for all purposes.
SECTION 3: The redemption of the obligations described
above being associated with the advance refunding of such
obligations, the approval, authorization and arrangements herein
given and provided for the redemption of such obligations on the
redemption dates designated therefor and in the manner provided
shall be irrevocable upon the issuance and delivery of the "City
of Colleyville, Texas, Waterworks and Sewer System Refunding and
Improvement Revenue Bonds I Series 1996", dated March 15, 1996; and
the City Secretary is hereby authorized and directed to make all
arrangements necessary to notify the holders of such obligations
of the City's decision to redeem such obligations on the dates and
in the manner herein provided and in accordance with the
ordinances authorizing the issuance of the obligations.
0317413
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PASSED AND ADOPTED, this March 19, 1996.
CITY OF COLLEYVILLE, TEXAS
ATTEST:
(City Seal)
0317413
MayC;;( LL ~
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EXHIBIT A
NOTICE OF REDEMPTION
CITY OF COLLEYVILLE, TEXAS
WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1987
DATED MARCH 1, 1987
NOTICE IS HEREBY GIVEN that the bonds of the above
described series maturing on and after January 1, 1999 and
aggregating in principal amount $990,000 have been called for
redemption on January 1, 1998 at the redemption price of par plus
accrued interest to the date of redemption, such bonds being
identified as follows:
Year of
Maturity
Principal Amount
Outstandinq
1999
2000
2001
2002
2003
2004
2005
2006
2007
$ 70,000
80,000
90,000
95,000
110,000
120,000
130,000
140,000
155,000
ALL SUCH BONDS shall become due and payable on January 1,
1998, and interest thereon shall cease to accrue from and after
said redemption date and payment of the redemption price of said
bonds shall be paid to the registered owners of the bonds only
upon presentation and surrender of such bonds to The Bank of New
York, N .A. , Jacksonville, Florida (successor paying
agent/registrar to InterFirst Bank Fort Worth, N .A.) at the
designated office at the following address: 1301 Fannin Street,
Suite 2215, Houston, Texas 77002, Attention: Information Services.
THIS NOTICE is issued and given pursuant
conditions prescribed for the redemption of
pursuant to a resolution by the City Council
Colleyville, Texas.
to the terms and
said bonds and
of the City of
THE BANK OF NEW YORK,
New York, New York,
as Paying Agent/Registrar
10161 centurion Parkway
3rd Floor
Jacksonville, Florida 32256
0317413
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF COLLEYVILLE, TEXAS
WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1989
DATED AUGUST 1, 1989
NOTICE IS HEREBY GIVEN that the bonds of the above
described series maturing on and after January 1, 2001 and
aggregating in principal amount $510,000 have been called for
redemption on January 1, 2000 at the redemption price of par plus
accrued interest to the date of redemption, such bonds being
identified as follows:
Year of
Maturitv
Principal Amount
Outstandinq
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
$ 35,000
40,000
40,000
45,000
50,000
50,000
55,000
60,000
65,000
70,000
ALL SUCH BONDS shall become due and payable on January 1,
2000, and interest thereon shall cease to accrue from and after
said redemption date and payment of the redemption price of said
bonds shall be paid to the registered owners of the bonds only
upon presentation and surrender of such bonds to The Bank of New
York, N. A. , Jacksonville, Florida (successor paying
agent/registrar to NCNB Texas National Bank, Fort Worth, Texas) at
the designated office at the following address: 1301 Fannin
Street, Suite 2215, Houston, Texas 77002, Attention: Information
Services.
THIS NOTICE is issued and given pursuant to the terms and
conditions prescribed for the redemption of said bonds and
pursuant to a resolution by the City Council of the City of
Colleyville, Texas.
THE BANK OF NEW YORK,
New York, New York,
as Paying Agent/Registrar
10161 Centurion Parkway
3rd Floor
Jacksonville, Florida 32256
0317413