HomeMy WebLinkAboutResolution - 1388 - Provide For Redemption Of Power System Revenue Bonds - 05/12/1983` RESOLUTION .1.388 - 5/12/833
00 t!ITY SFCRETARY TREASURER
A RESOLUTION by the City Council of the City of
Lubbock, Texas, providing for the redemption of
"City of Lubbock, Texas, Electric Light and
Power System Revenue Bonds, Series 1981" and
resolving other matters incident and related to
the redemption of sudh bonds.
WHEREAS, pursuant to Ordinance No. 8232 passed on second
and final reading August 28, 1981, the following described
bonds were duly authorized to be issued and are currently
outstanding, to wit:
"CITY OF LUBBOCK, TEXAS, ELECTRIC LIGHT AND POWER
SYSTEM REVENUE BONDS, SERIES 1981", dated August 15,
1981, aggregating in principal amount $8,550,000, and
scheduled to mature on April 15 in each of the years
1984 through 2002;
AND WHEREAS, in the proceedings authorizing the issuance
of said bonds, and as stated in each of said bonds, the City
reserved the right at its option to redeem prior to maturity
bonds maturing in the years 1992 through 2002, in whole or
any part thereof, on April 15, 1991, or on any interest
payment date thereafter at the price of par and accrued
interest to the date fixed for redemption; and
WHEREAS, the City Council hereby finds and determines
that all of said bonds maturing on and after April 15, 1992
should be redeemed on April 15, 1991, and a notice of
redemption should now be -`given of such redemption date in
accordance with the terms and provisions prescribed therefor
in the authorizing proceedings and said bonds; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1: That the bonds of that series known as
"CITY OF LUBBOCK, TEXAS, ELECTRIC LIGHT AND POWER SYSTEM
REVENUE BONDS, SERIES 1981" maturing in the years 1992
through 2002, being those bonds numbered 811 through 1,800,
each in the denomination of $5,000, and aggregating in
principal amount $4,950,000, shall be redeemed, and the same
are hereby called for redemption, on April 15, 1991, at the
price of par and accrued interest to the date of redemption.
SECTION 2: That the City Secretary is hereby authorized
and directed to cause a notice of redemption to be filed
with the Texas Commerce Bank, National Association, Lubbock,
Texas and the Citibank, National Association, New York, New
York, the "paying agents"; such notice of redemption to read
substantially as Exhibit A attached hereto and incorporated
herein by reference as a part of this resolution for all
purposes.
PASSED AND APPROVED, this the /-�-Z-day of May, 1983.
Mayors City of bbock, Texas
T'Ro TFib
ATTEST:
its Secretary, i f
Lubbock, Texas
(City Seal)
EXHIBIT
NOTICE OF REDEMPTION
CITY OF LUBBOCK, TEXAS, ELECTRIC LIGHT AND POWER
SYSTEM REVENUE BONDS, SERIES 1981
NOTICE IS HEREBY GIVEN that the City of Lubbock, Texas
has called for redemption on April 15, 1991, the bonds of
the series described above and further described as follows:
Bonds numbered 811 through 1,800, each in the denomination
of $5,000, aggregating in principal amount $4,950,000, and
scheduled to mature -on April 15 in each of the years
1992 through 2002
NOTICE IS FURTHER GIVEN that due and proper arrangements
have been made for providing the Texas Commerce Bank, National
Association, Lubbock, Texas and the Citibank, National Association,
New York, New York, the paying agents for such bonds, with
sufficient funds to pay the principal amount of such bonds
and the accrued interest thereon to April 15, 1991, the
redemption date therefor. In the event said bonds, or any
of them are not presented for payment by the date fixed for
redemption, such bonds not presented for payment shall cease
to bear interest from and after the date fixed for redemption.
THIS NOTICE is issued and given pursuant to the terms
and conditions prescribed for the redemption of said bonds
and pursuant to authority of a resolution passed by the City
Council of the City of Lubbock, Texas, on May 1983.
WITNESS MY OFFICIAL SIGNATURE, -'this the day of
, 1983.
City Secretary, City of
Lubbock, Texas
The above and foregoing Notice of Redemption was duly
received and filed with the
, this .
Authorized Officer of Bank
( BANK SEAL)
Bank Officer's Title
EXHIBIT A
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS S-
�..ITV E�t:Tr�P,Y-TREASIJRFR
COUNTY OF LUBBOCK §
S
CITY OF LUBBOCK S
I, the undersigned, City Secretary of the City of
Lubbock, Texas, DO HEREBY CERTIFY as follows:
1. That on the 12th day of May, 1983, the City Council
of the City of Lubbock, Texas, convened in regular session
at its regular meeting place in the City Hall of said City;
the duly constituted members of the Council being as follows:
BILL MC ALISTER . MAYOR
ALAN HENRY ) MAYOR PRO TEM
JOAN BAKER )
M. J. ADERTON ) COUNCILMEMBERS
E. JACK BROWN )
and all of said persons were present at said meeting, except
the following: Mayor Bill McAlister Among
other business considered at said meeting, the attached
resolution entitled:
RESOLUTION 1388
"A RESOLUTION by the City Council of the City of
Lubbock, Texas, providing for the redemption of
'City of Lubbock, Texas, Electric Light and
Power System Revenue Bonds-, Series 1981' and
resolving other matters incident and related
to the redemption of such bonds."
was introduced and submitted to the Council for passage and
adoption. After presentation and due consideration of the
resolution, a motion was made by Councilman Aderton that
the resolution be finally passed and adopted. The motion
was seconded by Councilwoman Baker and carried by the
following vote:
absent .(McAlister)
4 voted "For" _0 voted "Against" �_ X912tA6=2jdX
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 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 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 12th
day of May, 1983.
C'ty S re ry, f
Lubbock, Texas
(City Seal)
0
A(
Of my office, advance notice of the time, place and purpose
of the meeting was given to each member of 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 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 12th
day of May, 1983.
C'ty S re ry, f
Lubbock, Texas
(City Seal)
0