HomeMy WebLinkAboutR-1119-7-92" 1 RESOLUTION NO. 1119-7-92R
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 Allen, Texas, the following described
obligations were duly authorized to be issued and are currently
outstanding, to wit:
(1) City of Allen, Texas, Waterworks and Sewer
System Revenue Bonds, Series 1972, dated June 1, 1972,
aggregating in principal amount $790,000, and
scheduled to mature on June 1, 1993 through June 1,
2003;
(2) City of Allen, Texas, Waterworks and Sewer
System Revenue Bonds, Series 1979, dated August 1,
1979, aggregating in principal amount $1,010,000, and
scheduled to mature on June 1, 2000 through June 1,
2009;
(3) City of Allen, Texas, Waterworks and Sewer
System Revenue Bonds, Series 1985, dated September 1,
1985, aggregating in principal amount $1,480,000, and
scheduled to mature on June 1, 1996 through June 1,
2000;
(4) City of Allen, Texas, Waterworks and Sewer
System Revenue Bonds, Series 1986, dated August 1,
1986, aggregating in principal amount $1,405,000, and
scheduled to mature on June 1, 1997 through June 1,
2006;
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,
0019338
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS:
SECTION 1: The bonds of that series known as "City of
Allen, Texas, Waterworks and Sewer System Revenue Bonds, Series
197211, dated June 1, 1972, being bonds numbered 143 through 300,
each in the denomination of $5,000, and maturing in the years 1993
through 2003, and aggregating in principal amount $790,000, shall
be redeemed and the same are hereby called for redemption on
December 1, 1992, at the price of par and accrued interest to the
date of redemption. The City Secretary is hereby authorized and
directed to cause a notice of redemption to be filed with
Ameritrust Texas National Association (successor paying agent to
Mercantile National Bank at Dallas), the "paying agent", which
notice of redemption shall be substantially in the form and content
of Exhibit A attached hereto 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
Allen, Texas, Waterworks and Sewer System Revenue Bonds, Series
197911, dated August 1, 1979, being bonds numbered 59 through 260,
each in the denomination of $5,000, and maturing in the years 2000
through 2009, and aggregating in principal amount $1,010,000, shall
be redeemed and the same are hereby called for redemption on
June 1, 1999, at the price of par and accrued interest to the date
of redemption. The City Secretary is hereby authorized and
directed to cause a notice of redemption to be filed with
Ameritrust Texas National Association (successor paying agent to
Mercantile National Bank at Dallas), the "paying agent", which
notice of redemption shall be substantially in the form and content
of Exhibit B attached hereto and incorporated herein by reference
as a part of this resolution for all purposes.
SECTION 3: The bonds of that series known as "City of
Allen, Texas, Waterworks and Sewer System Revenue Bonds, Series
198511, dated September 1, 1985, maturing in the years 1996 through
2000, and aggregating in principal amount $1,480,000, shall be
redeemed and the same are hereby called for redemption on June 1,
1995, 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 filed with bondholders, with
Ameritrust Texas National Association (successor paying
agent/registrar to MBank Dallas, N.A.), in accordance with the
redemption provisions applicable to such bonds; such suggested form
of notice of redemption being attached hereto as Exhibit C and
incorporated herein by reference as a part of this resolution for
all purposes.
0019338
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SECTION 4: The bonds of that series known as "City of
Allen, Texas, Waterworks and Sewer System Revenue Bonds, Series
1986111 dated August 1, 1986, maturing in the years 1997 through
2006, and aggregating in principal amount $1,405,000, shall be
redeemed and the same are hereby called for redemption on June 1,
1996, 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 filed with bondholders, with
Ameritrust Texas National Association (successor paying
agent/registrar to MBank Dallas, N.A.), in accordance with the
redemption provisions applicable to such bonds; such suggested form
of notice of redemption being attached hereto as Exhibit D and
incorporated herein by reference as a part of this resolution for
all purposes.
SECTION 5: 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; 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.
PASSED AND ADOPTED, this July 20, 1992.
CITY OF ALLEN, TEXAS
06e 7-64��
Mayor
ATTEST:
ciV Sec Wary
(City Seal)
0019338
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EXHIBIT A
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS
SERIES 1972
DATED JUNE 1, 1972
NOTICE IS HEREBY GIVEN that the City of Allen, Texas has
called for redemption on December 1, 1992, the bonds of the series
described above and further identified as follows:
Bonds numbered 143 through 300, each in the
denomination of $5,000, aggregating in principal
amount $790,000, and scheduled to mature on June 1 in
each of the years 1993 through 2003.
NOTICE IS FURTHER GIVEN that due and proper arrangements
have been made for providing Ameritrust Texas National Association
(successor paying agent to Mercantile National Bank at Dallas),
the paying agent for such bonds, with sufficient funds to pay the
redemption price of such bonds. Such bonds shall cease to bear
interest from and after such redemption date.
THIS NOTICE is issued and given pursuant to the terms and
conditions prescribed for the redemption of said bonds and
pursuant to a resolution passed by the City Council of the City of
Allen, Texas.
1992.
WITNESS MY OFFICIAL SIGNATURE, this the 20th day of July,
ty S cretary
City of Allen, Texas
The above and foregoing Notice of Redemption was duly
received and filed with Ameritrust Texas National Association,
this
AMERITRUST TEXAS NATIONAL
ASSOCIATION
By:
Title:
(Bank Seal)
15456
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS
SERIES 1979
DATED AUGUST 1, 1979
NOTICE IS HEREBY GIVEN that the City of Allen, Texas has
called for redemption on June 1, 1999, the bonds of the series
described above and further identified as follows:
Bonds numbered 59 through 260, each in the
denomination of $5,000, aggregating in principal
amount $1,010,000, and scheduled to mature on June 1
in each of the years 2000 through 2009.
NOTICE IS FURTHER GIVEN that due and proper arrangements
have been made for providing Ameritrust Texas National Association
(successor paying agent to Mercantile National Bank at Dallas),
the paying agent for such bonds, with sufficient funds to pay the
redemption price of such bonds. Such bonds shall cease to bear
interest from and after such redemption date.
THIS NOTICE is issued and given pursuant to the terms and
conditions prescribed for the redemption of said bonds and
pursuant to a resolution passed by the City Council of the City of
Allen, Texas.
1992.
WITNESS MY OFFICIAL SIGNATURE, this the 20th day of July,
24-,4-
ciey Se retary
City of Allen, Texas
The above and foregoing Notice of Redemption was duly
received and filed with Ameritrust Texas National Association,
this
AMERITRUST TEXAS NATIONAL
ASSOCIATION
By:
Title:
(Bank Seal)
15456
EXHIBIT C
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS,
SERIES 1985
DATED SEPTEMBER 1, 1985
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after June 1, 1996 and aggregating in principal
amount $1,480,000 have been called for redemption on June 1, 1995
at the redemption price of par and accrued interest to the date of
redemption, such bonds being identified as follows:
Year of Principal Amount
Maturity Outstanding
1996
$235,000
1997
265,000
1998
295,000
1999
325,000
2000
360,000
ALL SUCH BONDS shall become due and payable on June 1,
1995, 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 Ameritrust Texas National Association (successor paying
agent/registrar to MBank Dallas, 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 Allen,
Texas.
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
15456
EXHIBIT D
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
WATERWORKS AND SEWER SYSTEM REVENUE BONDS,
SERIES 1986
DATED AUGUST 1,1986
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after June 1, 1997 and aggregating in principal
amount $1,405,000 have been called for redemption on June 1, 1996
at the redemption price of par and accrued interest to the date of
redemption, such bonds being identified as follows:
Year of Principal Amount
Maturity Outstanding
1997 $ 95,000
1998 105,000
1999 110,000
2000 120,000
2001 130,000
2002 140,000
2003 155,000
2004 170,000
2005 180,000
2006 200,000
ALL SUCH BONDS shall become due and payable on June 1,
1996, 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 Ameritrust Texas National Association (successor paying
agent/registrar to MBank Dallas, 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 Allen,
Texas.
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
15456
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS
COUNTY OF COLLIN
CITY OF ALLEN
I, the undersigned, City Secretary of the City of Allen,
Texas, DO HEREBY CERTIFY as follows:
1. That on the 20th day of July, 1992, a special meeting of
the City Council of the City of Allen, Texas was held at a meeting
place within the City; the duly constituted members of the Council
being as follows:
JOE FARMER MAYOR
KEVIN LILLY ) MAYOR PRO TEM
MICKEY CHRISTAKOS )
DAVID BISHOP )
MIKE NICHOLS ) COUNCILMEMBERS
STEVE TERRELL )
SHARON HAMNER )
and all of said persons were present at said meeting, except the
following: Kevin Lilly and Mike Nichols . Among other
business considered at said meeting, the attached resolution
entitled:
"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."
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
resolution and, upon a motion made by Steve Terrell and
seconded by David Bishop , the resolution was duly
passed and adopted by the Council to be effective immediately by
the following vote:
5 voted "For" 0 voted "Against" 0 abstained
all as shown in the official Minutes of the Council for the meeting
held on the aforesaid date.
2. That the attached resolution is a true and correct copy
of the original on file in the official records of the City; the
duly qualified and acting members of the City Council of said City
on the date of the aforesaid meeting are those persons shown above
and, according to the records of my office, advance notice of the
time, place and purpose of the meeting was given to each member of
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the Council; and that said meeting, and the deliberation of the
aforesaid public business, was open to the public and written
notice of said meeting, including the subject of the above entitled
resolution, was posted and given in advance thereof in compliance
with the provisions of Article 6252-17, Section 3A, V.A.T.C.S.
IN WITNESS WHEREOF, I have hereunto signed my name officially
and affixed the seal of said City, this the 20th day of July, 1992.
(City Seal)
0029670
4MYen,
S00retary, City of
Texas
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