1993-043w
RESOLUTION NO. 3-
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 Southlake, Texas, the following
described obligations were duly authorized to be issued and are
currently outstanding, to wit:
1) City of Southlake, Texas, General
Obligation Refunding Bonds, Series 1990, dated
March 1, 1990, maturing on February 1 in each of
the years 2002, 2003 and 2009, and aggregating in
principal amount $2,070,000; and
I
2) City of Southlake, Texas, Tax and
Waterworks and Sewer System (Limited Pledge)
Revenue Certificates of Obligation, Series 1990,
dated August 1, 1990, maturing on February 1 in
each of the years 2002 through 2011, and
aggregating in principal amount $745,000;
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
SOUTHLAKE, TEXAS:
0123673
BY THE CITY COUNCIL OF THE CITY OF
SECTION 1: The bonds of that series known as "City of
Southlake, Texas, General Obligation Refunding Bonds, series
199011, dated March 1, 1990, maturing in the years 2002, 2003 and
2009, and aggregating in principal amount $2,070,000, 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 bondholders,
with The Frost National Bank of San Antonio, Austin, Texas
successor paying agent/registrar to First City, Texas -Austin,
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 certificates of that series known as !'City
of Southlake, Texas, Tax and Waterworks and Sewer System (Limited
Pledge) Revenue Certificates of Obligation, Series 199011, dated
August 1, 1990, maturing in the years 2002 through 2011, and
aggregating in principal amount $745,000, shall be redeemed and
the same are hereby called for redemption on February 1, 2001, 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 Trust Company, National Association, Dallas, Texas
successor paying agent/registrar to Ameritrust Texas National
Association), 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 Southlake, Texas General Obligation Refunding and Improvement
Bonds, Series 199311, dated October 15, 1993; 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
0123673
2-
in the manner herein provided and in accordance with the
ordinances authorizing the issuance of the obligations.
PASSED AND ADOPTED, this October 19, 1993.
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City Secre ary
City Seal)
0123673
CITY OF SOUTHLAKE, TEXAS
Mlrvyor
3-
EXHIBIT A
NOTICE OF REDEMPTION
CITY OF SOUTHLAKE, TEXAS,
GENERAL OBLIGATION REFUNDING BONDS
SERIES 1990
DATED MARCH 1, 1990
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after February 1, 2002 and aggregating in
principal amount $2,070,000 have been called for redemption on
February 1, 2000 at the redemption price of par and accrued
interest to the date of redemption, such bonds being identified as
follows:
Year of Principal Amount
Maturitv Outstandina
2002 $ 200,000
2003 215,000
2009 1,655,000
ALL SUCH BONDS 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
bonds shall be paid to the registered owners of the bonds only
upon presentation and surrender of such bonds to the principal
office of The Frost National Bank of San Antonio, Austin, Texas
successor paying agent/registrar to First City, Texas -Austin,
N.A.).
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
Southlake, Texas.
THE FROST NATIONAL BANK OF SAN
ANTONIO, Austin, Texas,
as Paying Agent/Registrar
Address: P. O. Box 2127
Austin, Texas 78767
0123682
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF SOUTHLAKE, TEXAS, -
TAX AND WATERWORKS AND SEWER SYSTEM
LIMITED PLEDGE) REVENUE CERTIFICATES OF OBLIGATION,
SERIES 1990
DATED AUGUST 1, 1990
NOTICE IS HEREBY GIVEN that all certificates of the above
series maturing on and after February 1, 2002 and aggregating in
principal amount $745,000 have been called for redemption on
February 1, 2001 at the redemption price of par and accrued
interest to the date of redemption, such certificates being
identified as follows:
Year of Principal Amount
Maturitv Outstandinq
2002 $ 50,000
2003 55,000
2004 60,000
2005 65,000
2006 70,000
2007 75,000
2008 85,000
2009 90,000
2010 95,000
2011 100,000
ALL SUCH CERTIFICATES shall become due and payable on
February 1, 2001, and interest thereon shall cease to accrue from
and after said redemption date and payment of the redemption price
of said certificates shall be paid to the registered owners of the
obligations only upon presentation and surrender of such
certificates to the principal office of Texas Commerce Trust
Company, National Association, Dallas, Texas (successor paying
agent/registrar to Ameritrust Texas National Association).
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
Southlake, Texas.
TEXAS COMMERCE TRUST COMPANY,
NATIONAL ASSOCIATION, Dallas,
Texas,
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
0129682