Loading...
HomeMy WebLinkAbout1946 02-28-2012 Pay off 2022 REGISTERED REGISTERED NO. 10 $130,000 UNITED STATES OF AMERICA STATE OF TEXAS CITY OF EULESS, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING BOND SERIES 2012 Bond Date: Interest Rate: Stated Maturity: March 1, 2012 2.03% July 15, 2022 Registered Owner: BOKF, NA dba Bank of Texas Principal Amount: ONE HUNDRED THIRTY THOUSAND DOLLARS The City of Euless (hereinafter referred to as the "City"), a body corporate and municipal corporation in the County of Tarrant, State of Texas, for value received, hereby promises to pay to the Registered Owner named above, or the registered assigns thereof, solely from the revenues hereinafter identified, on the Stated Maturity date specified above the Principal Amount stated above (or so much thereof as shall not have been paid upon prior redemption) and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) on the unpaid Principal Amount hereof from the date of delivery to the initial purchasers (March 29, 2012) at the per annum rate of interest specified above; such interest being payable on January 15 and July 15 of each year, commencing July 15, 2012, until maturity or prior redemption. Principal of this Bond is payable at its Stated Maturity or redemption to the registered owner hereof, upon presentation and surrender, at the Designated Payment/Transfer Office of the Paying Agent/Registrar executing the registration certificate appearing hereon, or its successor. Interest is payable to the registered owner of this Bond (or one or more Predecessor Bonds, as defined in the Ordinance hereinafter referenced) whose name appears on the "Security Register" maintained by the Paying Agent/Registrar at the close of business on the "Record Date", which is the last business day of the month next preceding each interest payment date and interest shall be paid by the Paying Agent/Registrar by check sent United States Mail, first class postage prepaid, to the address of the registered owner recorded in the Security Register or by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of,the registered owner. If the date for the payment of the principal of or interest on the Bonds shall be a Saturday, Sunday, a legal holiday, or a day when banking institutions in the city where the Designated Payment/Transfer Office of the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. All payments of principal of, premium, if any,and interest on this Bond shall be without exchange or collection charges to the owner hereof and in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. This Bond is one of the series specified in its title issued in the aggregate principal amount of$3,340,000(herein referred to as the"Bonds") for the purpose of refunding certain outstanding obligations payable from the revenues of the City's Waterworks and Sewer System(the"System")and paying costs of issuance,under and in strict conformity with the Constitution and laws of the State of Texas, including V.T.C.A., Government Code, Chapter 1207, as amended, and pursuant to an Ordinance adopted by the City Council of the City(herein referred to as the"Ordinance"). The Bonds may be redeemed prior to their Stated Maturities, at the option of the City, in whole or in part in principal amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity by lot by the Paying Agent/Registrar), at the redemption price of par, together with accrued interest to the date of redemption, plus the Prepayment Fee as of the date of redemption. JUL 292024 CITY OF EULESS The Prepayment Fee is calculated by multiplying: (1) any decrease in yield in the Reference Rate between the date of delivery of the Bonds and the prepayment date,by (2) the number of years or partial years remaining in the portion of the Bond being redeemed,by (3) the average balance remaining through maturity of the portion of the Bond being redeemed. "Interest Rate Swap Rate" is defined as the interest rate swap rate for the term closest in time to the remaining term of the Bond as such rate has most recently been published by the Federal Reserve Bank on its website under Federal Reserve Statistical Release H.15, as the International Swaps and Derivatives Association ("ISDA") mid-market par swap rate. In the event the Federal Reserve Board fails to publish information from the ISDA concerning the mid-market par swap rate, the parties shall refer to the source of such information (as set forth in footnote 15 of the Federal Reserve Statistical Release H.15 as published on October 2,2000)in order to determine the Interest Rate Swaps Rate. "LIBOR Rate" is defined as the London Interbank Offered Rate (LIBOR) established by the British Banker's Association for deposits in US dollars for the term closest in time to the remaining term of the Bond. "Reference Rate" is defined as(a)the LIBOR rate when the remaining term of the Bond is 12 months or less,or (b)the Interest Rate Swap Rate when the remaining term of the Bond is greater than 12 months. At least thirty days prior to the date fixed for any redemption of Bonds,the City shall cause a written notice of such redemption to be sent by United States Mail,first class postage prepaid,to the registered owners of each Bond to be redeemed at the address shown on the Security Register and subject to the terms and provisions relating thereto contained in the Ordinance. If a Bond(or any portion of its principal sum)shall have been duly called for redemption and notice of such redemption duly given, then upon such redemption date such Bond (or the portion of its principal sum to be redeemed) shall become due and payable, and interest thereon shall cease to accrue from and after the redemption date therefor,provided moneys for the payment of the redemption price and the interest on the principal amount to be redeemed to the date of redemption are held for the purpose of such payment by the Paying Agent/Registrar. In the event a portion of the principal amount of a Bond is to be redeemed, payment of the redemption price of such principal amount shall be made to the registered owner only upon presentation and surrender of such Bond to the Designated Payment/Transfer Office of the Paying Agent/Registrar,and a new Bond or Bonds of like maturity and interest rate in any authorized denominations provided by the Ordinance for the then unredeemed balance of the principal sum thereof will be issued to the registered owner,without charge. If a Bond is selected for redemption, in whole or in part,the City and the Paying Agent/Registrar shall not be required to transfer such Bond to an assignee of the registered owner within 45 days of the redemption date therefor; provided, however, such limitation on transferability shall not be applicable to an exchange by the registered owner of the unredeemed balance of a Bond redeemed in part. With respect to any optional redemption of the Bonds, unless moneys sufficient to pay the principal of and premium,if any,and interest on the Bonds to be redeemed shall have been received by the Paying Agent/Registrar prior to the giving of such notice of redemption,such notice may state that said redemption is conditional upon the receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed for such redemption, or upon the satisfaction of any prerequisites set forth in such notice of redemption; and, if sufficient moneys are not received, such notice shall be of no force and effect,the City shall not redeem such Bonds and the Paying Agent/Registrar shall give notice, in the manner in which the notice of redemption was given,to the effect that the Bonds have not been redeemed. The Bonds are special obligations of the City and, together with the outstanding Previously Issued Bonds, are payable solely from and equally and ratably secured by a first lien on and pledge of the Net Revenues of the System. The Bonds do not constitute a legal or equitable pledge, charge, lien or encumbrance upon any property of the City or the System, except with respect to the Net Revenues. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Subject to satisfying the terms and conditions prescribed therefor, the City has reserved the right to issue additional revenue obligations payable from and equally and ratably secured by a parity lien on and pledge of the Net Revenues of the System,in the same manner and to the same extent as the Previously Issued Bonds and the Bonds. Reference is hereby made to the Ordinance,a copy of which is on file in the Designated Payment/Transfer Office of the Paying Agent/Registrar, and to all of the provisions of which the Holder by the acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the security for the Bonds; the properties constituting the System;the Net Revenues pledged to the payment of the principal of and interest on the Bonds;the nature and extent and manner of enforcement of the lien and pledge securing the payment of the Bonds;the terms and conditions for the issuance of additional revenue obligations; the terms and conditions relating to the transfer or exchange of this Bond; the conditions upon which the Ordinance may be amended or supplemented with or without the consent of the Holders; the rights, duties, and obligations of the City and the Paying Agent/Registrar; the terms and provisions upon which the liens,pledges, charges and covenants made therein may be discharged at or prior to the maturity or redemption of this Bond, and this Bond deemed to be no longer Outstanding thereunder; and for the other terms and provisions contained therein. Capitalized terms used herein have the same meanings assigned in the Ordinance. This Bond,subject to certain limitations contained in the Ordinance,may be transferred on the Security Register only upon its presentation and surrender at the Designated Payment/Transfer Office of the Paying Agent/Registrar, with the Assignment hereon duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by,the registered owner hereof, or his duly authorized agent. When a transfer on the Security Register occurs, one or more new fully registered Bonds of the same Stated Maturity, of authorized denominations,bearing the same rate of interest,and of the same aggregate principal amount will be issued by the Paying Agent/Registrar to the designated transferee or transferees. The City and the Paying Agent/Registrar, and any agent of either, shall treat the registered owner hereof whose name appears on the Security Register(i)on the Record Date as the owner entitled to payment of interest hereon, (ii)on the date of surrender of this Bond as the owner entitled to payment of principal hereof at its Stated Maturity or its redemption, in whole or in part,and(iii)on any other date as the owner for all other purposes,and neither the City nor the Paying Agent/Registrar,or any agent of either, shall be affected by notice to the contrary. In the event of non-payment of interest on a scheduled payment date and for thirty(30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest(which shall be 15 days after the Special Record Date)shall be sent at least five(5)business days prior to the Special Record Date by United States Mail,first class postage prepaid,to the address of each Holder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. It is hereby certified, recited, represented and covenanted that the City is a duly organized and legally existing municipal corporation under and by virtue of the Constitution and laws of the State of Texas; that the issuance of the Bonds is duly authorized by law;that all acts, conditions and things required to exist and be done precedent to and in the issuance of the Bonds to render the same lawful and valid obligations of the City have been properly done,have happened and have been performed in regular and due time,form and manner as required by the Constitution and laws of the State of Texas,and the Ordinance;that the Bonds do not exceed any constitutional or statutory limitation;and that due provision has been made for the payment of the principal of and interest on the Bonds by a pledge of the Net Revenues of the System as aforestated. In case any provision in this Bond or any application thereof shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions and applications shall not in any way be affected or impaired thereby. The terms and provisions of this Bond and the Ordinance shall be construed in accordance with and shall be governed by the laws of the State of Texas. IN WITNESS WHEREOF, the City Council of the City has caused this Bond to be duly executed under the official seal of the City as of the Bond Date. CITY OF EULESS, TEXAS Mayor a COUNTERSIGNED: ity Secretary (City Seal) REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR This Bond has been duly issued and registered in the name of the Registered Owner shown above under the provisions of the within-mentioned Ordinance; the bond or bonds of the above entitled and designated series originally delivered having been approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts, as shown by the records of the Paying Agent/Registrar. The designated offices of the Paying Agent/Registrar in Fort Worth, Texas, is the "Designated Payment/Transfer Office" for this Bond. BOKF,NA DBA BANK OF TEXAS, Fort Worth, Texas, as Paying Agent/Registrar Registration date: l /A- By: Authoriz ign re ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns, and transfers unto (Print or typewrite name, address, and zip code of transferee:) (Social Security or other identifying number ) the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises. DATED: NOTICE: The signature on this assignment must correspond with the Signature guaranteed: name of the registered owner as it appears on the face of the within Bond in every particular.