HomeMy WebLinkAboutResolution - 100363A - Issuance Of Notice Of Redemption - Electric Light System Rev. Refunding Bonds - 10/03/1963loo141A
RESOLUTION AUTHORIZING ISSUANCE OF NOTICE OF REDEMPTION
WITH,RESPECT,TO."CITY OF LUBBOCK, TEXAS, ELECTRIC.
LIGHT SYSTEM'REVENUE REFUNDING BONDS", DATED
SEPTEMBER _ 1, .1958.
THE STATE OF TEXAS
CITY OF LUBBOCK
COUNTY OF LUBBOCK
ON THIS, the 3rd day of October, 1963, the�City
Commission of the City of Lubbock, Texas, convened in special
session at the regular meeting place thereof in the City Hall,
there being present and in attendance the following members,
to -wit :
JACK F. STRONG MAYOR
W. E. ALDERSON
ROLAN SIMPSON
COMMISSIONERS
W. C. OtMARA
MARVIN MCLARTY,JR.
and
MRS. LkVENIA LOWE CITY SECRETARY
also being present- and with the following absent:
None constituting a quorum; at which
time the following among other business, was transacted:
Commissioner Simpson introduced a resolution
which was read in full. Commissioner Simpson moved
that the resolution be passed to take effect immediately from
and after its passage. The motion was seconded by Commissioner
O'Mara aryl carried by the following vote:
YEAS: Mayor Strong and Commissioners Alderson,
Simpson, O'Mara and McLarty.
NAYS: None.
The Mayor then announced the passage and immediate
effect of the resolution.
The RESOLUTION is as follows:
"A RESOLUTION fixing the date for the redemption
of $46o,000 CITY OF LUBBOCK, TEXAS, ELECTRIC
LGHTSYTEMRE8NNDING.BONDS', dated
Ip S� 95 ; directing
the giving of
notice of redemption and prescribing the
form thereof."
WHEREAS, the City of Lubbock, Texas, has heretofore
authorized the issuance of "CITY OF LUBBOCK, TEXAS, ELECTRIC
LIGHT SYSTEM REVENUE REFUNDING BONDS", dated September 1, 1958,
which are now optional for payment prior to maturity on any
interet payment date upon the giving of thirty (30) days' notice;
and
WHEREAS, this City Commission deems it advisable and
appropriate to call such bonds in accordance with their terms;
the re fo re
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
LUBBOCK:
SECTION 1: That the date stipulated in the "NOTICE OF
BOND REDEMPTION", as contained herein and made a part of this
resolution, is hereby fixed for redeeming the bonds as described
in said Notice.
SECTION 2: That the City Secretary of said City is here
authorized and directed to issue notice in writing to the paying
agent bank named in the ordinance authorizing.the issuance of the
series of bonds, to -wit: the MERCANTILE NATIONAL BANK AT DALLAS,
Dallas, Texas, to the effect that said bonds have been called for
redemption, which notice ,shall be mailed or delivered so as to
be received by said bank a full thirty (30) days prior to the
date set for the redemption of such bonds.
SECTION 3: That the bonds described in said Notice of
Redemption shall be presented for redemption at the MERCANTILE
NATIONAL BANK AT DALLAS, Dallas, Texas, as designated in said
notice, and said bonds shall not bear interest after the date
provided for their redemption.
SECTION 4: That the Notice of Redemption, describing
the series of bonds to be redeemed) shall be issued by the City
Secretary and shall be substantially in the following form:
NOTICE OF BOND REDEMPTION
THS STATE OF TERAS
CITY OF LUBBOCK
COUNTY OF LUBBOCK
TO THE MERCANTILE NATIONAL BANK AT DALLAS Dallas Texas
AND TO ALL OTHER INTERESTED PARTIES:
NOTICE IS HEREBY GIVEN that the City of Lubbock, Texas,
through its City Commission, and by resolution duly passed on the
day of October, 1963, has called in for redemption, on
March 1, 1964, at the MERCANTILE NATIONAL BANK AT DALLAS, Dallas,
Texas, $46o.000 "CITY OF LUBBOCKTEXAS, ELECTRIC LIGHT SYSTEM
REVENUEREFUNDINGBONDS", dated September 1, 1958, bearing interest
at the rates of 2-1/22% and 2-3/4% per annum, numbered 491 through
950, maturing serially on September 1st in each of the years 1964
through 1968.
NOTICE IS FURTHER GIVEN that due and proper arrangements
have been made to provide all amounts required to pay said bonds,
the interest thereon and call premium at the said MERCANTILE
NATIONAL BANK AT DALLAS, and in the event said bonds, or any of
them, are not presented for redemption at said bank on or before
said redemption date, they shall cease to bear interest from and
after said date.
THIS NOTICE is issued and given pursuant to the option
of redemption reserved to the City of Lubbock in the proceedings
authorizing the issuance of said outstanding bonds and in accord,
with the recitals and provisions of each of said bonds.
WITNESS MY OFFICIAL SIGNATURE at Lubbock, Texas,
this the 3rd day of October, 1963.
s� LAVENIA IM
City Secre ary,City of Lu ock,Texas
SECTION 5: The proof of the issuance of such notice
shall be made by the City Secretary by a certificate to that
effect, which certificate shall be recorded in the Minutes of
the City Commission.
PASSED AND APPROVED AND ADOPTED this the 3rd day of
October, 1963.
a0 As
r, City of Lubbock, Te
ATTEST:
City a retary,Ci of L bbock,Texas
(City Seal)