HomeMy WebLinkAboutCity Council Resolutions (R-94-0990)-03/15/1994
RESOLUTION No.t-9L/- 99()
A RESOLUTION providing for the redemption of certain
outstanding obligations of the City; and resolving
other matters incident and related to the
redemption of such obligations.
WHEREAS, pursuant to ordinances passed and adopted by the
City Council of the City of Colleyville, Texas, the following
described obligations were duly authorized to be issued and are
currently outstanding, to wit:
(1) City of Colleyville, Texas, Tax and
Waterworks and Sewer System (Limited Pledge)
Revenue certificates of Obligation, Series 1989,
dated August 1, 1989, maturing on February 1 in
each of the years 2001 through 2012, and
aggregating in principal amount $925,000; and
(2) ci ty of Colleyville, Texas, Tax and
Waterworks and Sewer System (Limited Pledge)
Revenue certificates of Obligation, Series 1991,
dated January 1, 1991, maturing on February 1 in
each of the years 2001 through 2013, and
aggregating in principal amount $670,000;
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,
0156452
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
SECTION 1: The certificates of that series known as "City
of colleyville, Texas, Tax and Waterworks and Sewer System
(Limited Pledge) Revenue Certificates of Obligation, Series 1989",
dated August 1, 1989, maturing in the years 2001 through 2012, and
aggregating in principal amount $925,000, shall be redeemed and
the same are hereby called for redemption on February 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 certificateholders, with Texas
Commerce Bank National Association, Dallas, Texas (successor
paying agent/registrar to the First City, Texas-Dallas, Dallas,
Texas), in accordance with the redemption provisions applicable to
such obligations; 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 certificates of that series known as "City
of Colleyville, Texas, Tax and Waterworks and Sewer System
(Limited Pledge) Revenue Certificates of Obligation, Series 1991",
dated January 1, 1991, maturing in the years 2001 through 2013,
and aggregating in principal amount $670,000, shall be redeemed
and the same are hereby called for redemption on February 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 certificateholders, with
Texas Commerce Bank National Association, Dallas, Texas (successor
paying agent/registrar to First City, Texas-Dallas, Dallas,
Texas), in accordance with the redemption provisions applicable to
such obligations; 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 General Obligation Refunding and Improvement
Bonds, Series 1994", dated March 1, 1994; 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
0156452
-2-
herein provided and in accordance with the ordinances authorizing
the issuance of the obligations.
PASSED AND ADOPTED, this March 15, 1994.
CITY OF COLLEYVILLE, TEXAS
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Mayor
ATTEST:
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C ty Secretary
(City Seal)
0156452
-3-
EXHIBIT A
NOTICE OF REDEMPTION
CITY OF COLLEYVILLE, TEXAS,
TAX AND WATERWORKS AND SEWER SYSTEM
(LIMITED PLEDGE) REVENUE
CERTIFICATES OF OBLIGATION
SERIES 1989
DATED AUGUST 1, 1989
NOTICE IS HEREBY GIVEN that all certificates of obligation of
the above series maturing on and after February 1, 2001 and
aggregating in principal amount $925,000 have been called for
redemption on February 1, 2000 at the redemption price of par and
accrued interest to the date of redemption, such certificates being
identified as follows:
Year of
Maturitv
Principal Amount
Outstandinq
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
$ 50,000
55,000
55,000
60,000
65,000
70,000
75,000
85,000
90,000
100,000
105,000
115,000
ALL SUCH CERTIFICATES shall become due and payable on
February 1, 2000, and interest thereon shall cease to accrue from
and after said redemption date and payment of the redemption price
of said obligations shall be paid to the registered owners of the
certificates only upon presentation and surrender of such
obligations to the principal office of Texas Commerce Bank
National Association, Dallas, Texas (successor paying
agent/registrar to First City, Texas-Dallas, Dallas, Texas).
THIS NOTICE is issued and given pursuant to the terms and
conditions prescribed for the redemption of said certificates and
pursuant to a resolution by the City Council of the ci ty of
Colleyville, Texas.
TEXAS COMMERCE BANK NATIONAL
ASSOCIATION,
as Paying Agent/Registrar
Address: P. o. Box 2320
Dallas, Texas 75221-2320
0156459
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF COLLEYVILLE, TEXAS,
TAX AND WATERWORKS AND SEWER SYSTEM
(LIMITED PLEDGE) REVENUE
CERTIFICATES OF OBLIGATION
SERIES 1991
DATED JANUARY 1, 1991
NOTICE IS HEREBY GIVEN that all certificates of obligation
of the above series maturing on and after February 1, 2001 and
aggregating in- principal amount $670,000 have been called for
redemption on February 1, 2000 at the redemption price of par and
accrued interest to the date of redemption, such certif icates
being identified as follows:
Year of
Maturitv
Principal Amount
Outstandinq
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
$ 30,000
35,000
35,000
40,000
45,000
45,000
50,000
55,000
55,000
60,000
65,000
75,000
80,000
ALL SUCH CERTIFICATES shall become due and payable on
February 1, 2000, and interest thereon shall cease to accrue from
and after said redemption date and payment of the redemption price
of said obligations shall be paid to the registered owners of the
certificates only upon presentation and surrender of such
obligations to the principal office of Texas Commerce Bank
National Association, Dallas, Texas (successor paying
agent/registrar to First City, Texas-Dallas, Dallas, Texas).
THIS NOTICE is issued and given pursuant to the terms and
conditions prescribed for the redemption of said certificates and
pursuant to a resolution by the City Council of the City of
colleyville, Texas.
TEXAS COMMERCE BANK NATIONAL
ASSOCIATION,
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
0156459