HomeMy WebLinkAboutResolution - 4833 - Redemption Of Oustanding Bonds - 05/11/1995Resolution No. 4833
May 11, 1995
Item #39
A RESOLUTION providing for the redemption of certain
outstanding bonds of the City; and resolving other
matters incident and related to the redemption of
such bonds.
WHEREAS, pursuant to an ordinance passed and adopted by the
City Council of the City of Lubbock, Texas, the following described
bonds were duly authorized to be issued and are currently
outstanding, to wit:
those bonds described as City of Lubbock,
Texas, Airport Revenue Bonds, Series 1978, and
originally scheduled to mature on September
15, 1996 through 1998, totalling in principal
amount $ 270,000
AND WHEREAS, the above identified bonds 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
authorizing resolution and in said bonds; and
WHEREAS, the Board hereby finds and determines that bonds of
the series identified above should be redeemed prior to their
maturity on the date 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 LUBBOCK,
TEXAS:
SECTION 1: The bonds of that series known as "City of
Lubbock, Texas, Airport Revenue Bonds, Series 197811, maturing in
the years 1996 through 1998 and aggregating in principal amount
$270,000, shall be redeemed and the same are hereby called for
redemption on September 15, 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 Norwest Bank Texas, National Association,
Lubbock, Texas, 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.
D2464361951128
z4`S33
(City Seal)
D246611za -2-