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HomeMy WebLinkAboutResolution 1217 t: 3 RESOLUTION NO. AUTHORIZING THE GIVING OF NOTICE OF REDEMPTION OF CERTAIN OF THE OBLIGATIONS OF THE CITY BEING REFUNDED BY THE CITY OF FORT WORTH, TEXAS GENERAL PURPOSE REFUNDING AND IMPROVEMENT BONDS, SERIES 1987; AND AUTHORIZING THE MAYOR TO GIVE NOTICE TO THE HOLDERS OF THE BONDS SO REDEEMED THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH WHEREAS, concurrently herewith the City has passed an ordinance authorizing the issuance of City of Fort Worth, Texas General Purpose Refunding and Improvement Bonds, _ Series 1987, in the aggregate principal amount of .i $127,125,000 (the "Bonds"); and WHEREAS, said ordinance authorizes the form of an 0 Escrow Agreement, dated as of April 22, 1987, between the City and the Escrow Agent named therein (the "Escrow Agree- ment"); and WHEREAS, net of certain costs relating to the issuance of the Bonds, $100,909,600 in aggregate principal amount of the proceeds of the Bonds shall be deposited in accordance with the terms of the Escrow Agreement to pay the interest on and the maturing principal of the "Refunded Obligations", as such term is defined in the Escrow Agreement; and WHEREAS, in order to maximize the interest savings to be realized from the refunding of the Refunded Obligations, r? 46 it is necessary and desirable to redeem the Refunded Obliga- tions prior to their scheduled maturities, to-wit: All of the City of Fort Worth, Texas General 'Yy Purpose Refunding Bonds, Series 1985A maturing on March 1 of the years 1999 through 2004, inclusive, in the aggregate principal amount of $87,120,272.55; and WHEREAS, the ordinance authorizing the Refunded Obligations described above provides the method for giving notice of redemption to the registered owner thereof; and WHEREAS, it is necessary and desirable to authorize the giving of notice of redemption for the Refunded Obligations prior to their scheduled maturities. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: _ d f l or e 1. That the Refunded Obligations shall be cal redemption, and the City Secretary of the City is hereby authorized and directed to cause to be published, with respect to the Refunded Obligations and the Paying Agent/Registrar is hereby authorized and directed to cause to be mailed, in the manner required by the ordinances authorizing the issuance of the Refunded Obligations, a notice of redemption, and such obligations described in such notice shall be redeemed on the dates and in the amounts as set forth in such notice. 2. That the notice of redemption for the Refunded Obligations shall be substantially in the form attached to this Resolution as Exhibit A. 3 3. That this Resolution shall be effective immediately from and after its adoption. ADOPTED this 17th day of March, 1987. "Wa Mayor ATTEST: City Secretary AP R VED AS TO PXNIDEGALITY: City Attorney (SEAL) ? 1 EXHIBIT A NOTICE OF REDEMPTION CITY OF FORT WORTH, TEXAS GENERAL PURPOSE REFUNDING BONDS, SERIES 1985A (the "Bonds") [name and address of registered owner] The Bond Registration Books kept by Manufacturers Hanover Trust Company, Paying Agent/Registrar for the Bonds, show that you are the registered owner of Bond number (s) , maturing on March 1., , in the aggregate principal amount of $ NOTICE IS HEREBY GIVEN that the Bonds maturing on March 1 in each of the years 1999 through 2004, inclusive, aggregating $87,120,272.55 in principal amount, of which the Bond(s) described in the preceding paragraph constitute a part thereof, have been called for redemption by the City of Fort Worth, Texas on March 1, 1995 (the "redemption date"). NOTICE IS FURTHER GIVEN that due and proper arrangements have been made providing Manufacturers Hanover Trust Company, New York, New York, the place of payment of said bonds called for redemption, with funds sufficient to pay the principal amount of said Bonds and the interest thereon to the redemption date. In the event said Bonds, or any of them, are not presented for payment by the date fixed for their redemption, they shall not thereafter bear interest. THIS NOTICE is issued and given pursuant to the redemption provisions set forth in the ordinance authorizing the issuance of the Bonds, in accordance with the recitals and provisions of each of said Bonds and pursuant to authority of a Resolution passed by the City Council of the City of Fort Worth on March 17, 1987. 1987. WITNESS MY SIGNATURE, this the day of , /s/ Manufacturers Hanover Trust Company 3 " J THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH I, Ruth Howard, City Secretary of the City of Fort Worth, in the State of Texas, do hereby certify that I have compared the attached and foregoing excerpt from the minutes of the regular, open, public meeting of the City Council of the City of Fort Worth, Texas, and of a Resolution which was held on March 17; 1987, and of a Resolution which was duly adopted at said meeting, and that said copy is a true and correct copy of said excerpt and the whole of said Resolution. In testimony whereof, I have set my hand and have hereunto affixed the seal of said City of Fort Worth, this day of , 1987. l ? Cry' ,i + (SEAL) City-Secretary of the City of Fort Worth, Texas e s% Fi `. THE STATE OF TEXAS COUNTY OF TARRANT t: CITY OF FORT WORTH On the 17th day of March, 1987, the City Council of the City of Fort Worth, Texas, met in regular, open, public P. meeting in the City Council Chamber in the City hall with the following memebers present, to-wit: Y. Bob Bolen, Mayor,. Bert C. Williams, Mayor Pro-Tem, Louis J. Zapata Russell Lancaster Steve Murrin Jim A. Bagsby -' Garey Gilley William N. Garrison S T Estil Vance, Jr. Douglas Harman, City Manager, Wade Adkins, City Attorney, Ruth Howard, City Secretary with more than a quorum present; and after the City Council had transacted certain business, the following business was transacted, to-wit: Councilmember introduced a resolution and moved its adoption. The motion was seconded a.., by Councilmember The resolution was read by the City Secretary. The motion, carrying with it P the adoption of the resolution prevailed unanimously. The z resolution as adopted is as follows: