HomeMy WebLinkAboutCity Council Resolutions (R-87-337 A)-04/06/1987
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RESOLUTION R-87-~ft
WHEREAS, on August 27, 1987, Trinity River Authority's Board
of Directors approved the issuance of revenue bonds
in the amount of $10.3 million for the construction
of improvements to the Tarrant County Water Supply
Project; and,
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WHEREAS,
the interest rates were substantially higher than
rates which exist today; and,
WHEREAS,
in the interest of reducing annual debt service,
refunding of bonds has been evaluated by Authority
Management and First Southwest Company; and,
WHEREAS,
$27,825,000.00 of callable bonds from the Series
1980 and 1984A are candidates for refunding; and,
information, it appears
savings of $5,380,000.00
$238,000.00 per year
WHEREAS,
based upon preliminary
that an approximate term
averaging approximately
available through refunding.
THEREFORE, BE IT RESOLVED, that the City Council of the City
of Colleyville supports this refunding of an annual
savings in the Principal and Interest payments;
AND IT IS SO RESOLVED.
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Passed and adopted by the City of Colleyville, Texas,
6th day of April, 1987.
this
APPROVED:
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J.R. "Buck" Hubbard
Mayor
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LaVada Johnson
City Secretary