HomeMy WebLinkAbout93-817 06-08-1993RESOLUTION NO. 93 -817
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 Euless, Texas, the following described
obligations were duly authorized to be issued and are currently
outstanding, to wit:
(1) City of Euless, Texas, General
Obligation Refunding Bonds, Series 1985 -A, dated
November 15, 1985, aggregating in principal amount
$2,295,000, and scheduled to mature on March 1,
1997 through March 1, 1999;
(2) City of Euless, Texas,
Obligation Bonds, Series 1986, dated June
aggregating in principal amount $1,450,
scheduled to mature on March 1, 1998
March 1, 2004;
General
1, 1986,
000, and
through
(3) City of Euless, Texas, Tax and
Waterworks and Sewer System (Limited Pledge)
Revenue Certificates of Obligation, Series 1989,
dated May 1, 1989, aggregating in principal amount
$950,000, and scheduled to mature on March 1, 2001
through March 1, 2007; and
(4) City of Euless, Texas, Tax and
Waterworks and Sewer System (Limited Pledge)
Revenue Certificates of Obligation, Series 1990,
dated August 1, 1990, aggregating in principal
amount $1,215,000, and scheduled to mature on
March 1, 2001 through March 1, 2008;
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
0095097
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 EULESS,
TEXAS:
SECTION 1: The bonds of that series known as "City of
Euless, Texas, General Obligation Refunding Bonds, Series 1985 -A ",
dated November 15, 1985, maturing in the years 1997 through 1999,
and aggregating in principal amount $2,295,000, shall be redeemed
and the same are hereby called for redemption on March 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 sent to bondholders, with Bank One, Texas NA,
Fort Worth, Texas (successor paying agent /registrar to Texas
American Bank /Fort Worth, 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 bonds of that series known as "City of
Euless, Texas, General Obligation Bonds, Series 1986 ", dated
June 1, 1986, maturing in the years 1998 through 2004, and
aggregating in principal amount $1,450,000, shall be redeemed and
the same are hereby called for redemption on March 1, 1997, 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 Bank One, Texas NA,
Fort Worth, Texas (successor paying agent /registrar to Texas
American Bank /Fort Worth, 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 certificates of obligation of that series
known as "City of Euless, Texas, Tax and Waterworks and Sewer
System (Limited Pledge) Revenue Certificates of Obligation, Series
1989, dated May 1, 1989, maturing in the years 2000 through 2007,
and aggregating in principal amount $950,000, shall be redeemed
and the same are hereby called for redemption on March 1, 1999, 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 Bank One,
Texas NA, Fort Worth, Texas (successor paying agent /registrar to
Texas American Bank /Fort Worth, N.A.), in accordance with the
redemption provisions applicable to such obligations; such
suggested form of notice of redemption being attached hereto as
0095097
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Exhibit C and incorporated herein by reference as a part of this
resolution for all purposes.
SECTION 4: The certificates of obligation of that series
known as "City of Euless, Texas, Tax and Waterworks and Sewer
System (Limited Pledge) Revenue Certificates of Obligation, Series
1990, dated August 1, 1990, maturing in the years 2001 through
2008, and aggregating in principal amount $1,215,000, shall be
redeemed and the same are hereby called for redemption on March 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
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 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 Euless, Texas, General Obligation Refunding Bonds, Series
1993 ", dated June 1, 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 in the manner herein
provided and in accordance with the ordinances authorizing the
issuance of the obligations.
PASSED AND ADOPTED, this June 8, 1993.
CITY OF EULESS, TEXAS
2/a,to,w ,A)142114
Mayor
ATTEST:
City Secre ary
(City Seal)
0095097
-3-
EXHIBIT A
NOTICE OF REDEMPTION
CITY OF EULESS, TEXAS,
GENERAL OBLIGATION BONDS,
SERIES 1985 -A
DATED NOVEMBER 15, 1985
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after March 1, 1997 and aggregating in principal
amount $2,295,000 have been called for redemption on March 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 $ 800,000
1998 760,000
1999 735,000
ALL SUCH BONDS shall become due and payable on March 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 Bank One, Texas, NA, Fort Worth, Texas (successor paying
agent /registrar to Texas American Bank /Fort Worth, 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
Euless, Texas.
BANK ONE, TEXAS NA
Fort Worth, Texas,
as Paying Agent /Registrar
Address: P. O. Box 2604
Fort Worth, Texas 76113
EXHIBIT B
NOTICE OF REDEMPTION
CITY OF EULESS, TEXAS,
GENERAL OBLIGATION BONDS
SERIES 1986
DATED JUNE 1, 1986
NOTICE IS HEREBY GIVEN that all bonds of the above series
maturing on and after March 1, 1998 and aggregating in principal
amount $1,450,000 have been called for redemption on March 1, 1997
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
1998 $ 150,000
1999 175,000
2000 175,000
2001 200,000
2002 225,000
2003 250,000
2004 275,000
ALL SUCH BONDS shall become due and payable on March 1,
1997, 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 Bank One, Texas, NA, Fort Worth, Texas (successor paying
agent /registrar to Texas American Bank /Fort Worth, 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
Euless, Texas.
BANK ONE, TEXAS NA
Fort Worth, Texas,
as Paying Agent /Registrar
Address: P. O. Box 2604
Fort Worth, Texas 76113
EXHIBIT C
NOTICE OF REDEMPTION
CITY OF EULESS, TEXAS,
TAX AND WATERWORKS AND SEWER SYSTEM
(LIMITED PLEDGE) REVENUE CERTIFICATES OF OBLIGATION
SERIES 1989
DATED MAY 1, 1989
NOTICE IS HEREBY GIVEN that all certificates of the above
series maturing on and after March 1, 2000 and aggregating in
principal amount $950,000 have been called for redemption on
March 1, 1999 at the redemption price of par and accrued interest
to the date of redemption, such certificates being identified as
follows:
Year of Principal Amount
Maturity Outstanding
2000 $ 100,000
2001 100,000
2002 100,000
2003 125,000
2004 125,000
2005 125,000
2006 125,000
2007 150,000
ALL SUCH CERTIFICATES shall become due and payable on
March 1, 1999, 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 Bank One, Texas, NA, Fort
Worth, Texas (successor paying agent /registrar to Texas American
Bank /Fort Worth, 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
Euless, Texas.
BANK ONE, TEXAS NA
Fort Worth, Texas,
as Paying Agent /Registrar
Address: P. O. Box 2604
Fort Worth, Texas 76113
EXHIBIT D
NOTICE OF REDEMPTION
CITY OF EULESS, 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 March 1, 2001 and aggregating in
principal amount $1,215,000 have been called for redemption on
March 1, 2000 at the redemption price of par and accrued interest
to the date of redemption, such certificates being identified as
follows:
Year of Principal Amount
Maturity Outstanding
2001 $ 115,000
2002 125,000
2003 135,000
2004 145,000
2005 155,000
2006 170,000
2007 180,000
2008 190,000
ALL SUCH CERTIFICATES shall become due and payable on
March 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
certificates to the principal office of Ameritrust Texas National
Association, 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
Euless, Texas.
AMERITRUST TEXAS NATIONAL
ASSOCIATION,
as Paying Agent /Registrar
Address: P. O. Box 2320
Dallas, Texas 75221 -2320