R-1137-10-92RESOLUTION NO. 1137-10-92(R)
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, General Obligation
Bonds, Series 1979, dated August 1, 1979, aggregating
in principal amount of $1,390,000, and scheduled to
mature on August 1, 2000 through August 1, 2009;
(2) City of Allen, Texas, General Obligation
Bonds, Series 1985, dated September 1, 1985,
aggregating in principal amount of $2,650,000, and
scheduled to mature on September 1, 1996 through
September 1, 2000;
(3)* City of Allen, Texas, General Obligation
Bonds, Series 1986, dated August 1, 1986, aggregating
in principal amount of $4,650,000, and scheduled to
mature on September 1, 1999 through September 1,
2006; and
(4) City of Allen, Texas, General Obligation
Bonds, Series 1988, dated April 1, 1988, aggregating
in principal amount of $1,190,000, and scheduled to
mature on September 1, 1999 through September 1, 2001;
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 ALLEN,
TEXAS:
0042756
SECTION 1: The bonds of that series known as "City of
Allen, Texas, General Obligation Bonds, Series 197911, dated
August 1, 1979, being bonds numbered 123 through 400, each in the
denomination of $5,000, and maturing in the years 2000 through
2009, and aggregating in principal amount $1,390,000, shall be
redeemed and the same are hereby called for redemption on August 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 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, General Obligation Bonds, Series 198511, dated
September 1, 1985, maturing in the years 1996 through 2000, and
aggregating in principal amount $2,650,000, shall be redeemed and
the same are hereby called for redemption on September 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 B 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, General Obligation Bonds, Series 198611, dated
August 1, 1986, maturing in the years 1999 through 2006, and
aggregating in principal amount $4,650,000, shall be redeemed and
the same are hereby called for redemption on September 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 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.
SECTION 4: The bonds of that series known as "City of
Allen, Texas, General Obligation Bonds, Series 198811, dated
April 1, 1988, maturing in the years 1999 through 2001, and
aggregating in principal amount $1,190,000, shall be redeemed and
the same are hereby called for redemption on September 1, 1998, at
0042756
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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 MTrust
Corp, National Association), 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 upon the issuance and delivery of the "City of
Allen, Texas, General Obligation Refunding and Improvement Bonds,
Series 1992111 dated October 1, 1992; 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 October 1, 1992.
CITY OF ALLEN, TEXAS
I
ATTEST:
C' y S- etary
T'r
(City Seal)
0042756
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IL
EXHIBIT A
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BONDS
SERIES 1979
DATED AUGUST 1, 1979
NOTICE IS HEREBY GIVEN that the City of Allen, Texas has
called for redemption on August 1, 1999, the bonds of the series
described above and further identified as follows:
Bonds numbered 123 through 400, each in the
denomination of $5,000, aggregating in principal
amount $1,390,000, and scheduled to mature on August 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 1st day of October,
r
C y Se6retary
City of Allen, Texas
The above and foregoing Notice of Redemption was duly
received and filed with Ameritrust Texas National Association,
this
(Bank Seal)
0042774
AMERITRUST TEXAS NATIONAL
ASSOCIATION
By:
Title:
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BONDS,
SERIES 1985
DATED SEPTEMBER 1, 1985
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after September 1, 1996 and aggregating in
principal amount $2,650,000 have been called for redemption on
September 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
$330,000
1997
380,000
1998
440,000
1999
480,000
2000
1,020,000
ALL SUCH BONDS shall become due and payable on September 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.
004277,
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
EXHIBIT C
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BONDS,
SERIES 1986
DATED AUGUST 1, 1986
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after September 1, 1999 and aggregating in
principal amount $4,650,000 have been called for redemption on
September 1, 1998 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
1999
$350,000
2000
400,000
2001
520,000
2002
565,000
2003
615,000
2004
675,000
2005
730,000
2006
795,000
ALL SUCH BONDS shall become due and payable on September 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 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.
0042774
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
EXHIBIT D
NOTICE OF REDEMPTION
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BONDS,
SERIES 1988
DATED APRIL 1, 1988
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after September 1, 1999 and aggregating in
principal amount $1,190,000 have been called for redemption on
September 1, 1998 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
1999 $190,000
2000 260,000
2001 740,000
ALL SUCH BONDS shall become due and payable on September 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 principal
office of Ameritrust Texas National Association (successor paying
agent/registrar to MTrust Corp 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 Allen,
Texas.
0042774
AMERITRUST TEXAS NATIONAL
ASSOCIATION
as Paying Agent/Registrar
Address: P. O. Box 2320
Dallas, Texas 75221-2320
1
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 1st day of October, 1992, a regular 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: . 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 Mike Nichols and
seconded by Mickey Christakos , the resolution was duly
passed and adopted by the Council to be effective immediately by
the following vote:
7 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 1st day of October,
1992.
(City Seal)
0043626
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F
C' y Setas
tary, City of
A len,