HomeMy WebLinkAbout2015-03-02-Resolutions 15-067_Bonds - Natural Gas Revenue Series 2007 - RedemptionRESOLUTION 15-067
RESOLUTION AUTHORIZING THE REDEMPTION OF
OUTSTANDING NATURAL GAS UTILITY REVENUE BONDS,
SERIES 2007,OF THE CITY OF WAUKEE,STATE OF IOWA,
DATED JULY 9,2007,AND DIRECTING NOTICE BE GIVEN
WHEREAS,the City did by resolution dated June 18,2007,authorize the issuance of
$5,675,000 Natural Gas Utility Revenue Bonds,Series 2007,(the "Bonds")dated July 9,2007;
and
~REAS,the Bonds are redeemable in any order of their numbering on June 1,2015
or any date thereafter upon giving notice in the manner provided in the resolution authorizing the
issuance of the Bonds;and
WHEREAS,it is deemed necessary and advisable that $3,110,000 be so redeemed on
June 1,2015 and notice of redemption be given according to the terms of the resolution
authorizing issuance of the Bonds.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WAUIWE,STATE OF IOWA:
Section 1.That outstanding Natural Gas Utility Revenue Bonds,dated July 9,2007,in
the principal amount of $3,110,000,be and the same are hereby redeemed as of June 1,2015.
Bankers Trust Company,in their capacity as Registrar and Paying Agent of the Bonds,is
hereby authorized and directed to cause notice of such redemption be given not less than tlurty
(30)nor more than sixty (60)days prior to the redemption date and to cause notice of redemption
to be mailed to the registered owners of the Bonds by certified mail,and to notify Radian Asset
Assurance,Inc.its registered agent or assigned as insurer to the Bonds,and DTC.
Section 2.The Director of Finance is hereby authorized and directed to cause to be
deposited in a separate fund sum sufficient to pay all principal and interest on the redeemed
Bonds to the date of redemption.
Section 3.That the form of such notice be substantially as follows:
NOTICE OF THE CALL OF BONDS FOR REDEMPTION TO THE HOLDERS OF THE
FOLLOWING DESCRIBED BONDS:
Please take notice that the Bonds described below have been called for redemption.
Owners of the Bonds should present their Bonds for payment on the redemption date.
Issuer:City of Waukee,State of Iowa
Original Issue Amount:$5,675,000
Bond Issue:Natural Gas Utility Revenue Bonds,Series 2007
Dated Date:July 9,2007
Redemption Date:June 1,2015
Redemption Price:Par,plus accrued interest
Bonds Called for Redem tion
CUSIP
Numbers
Bond
Numbers
Principal
Amount
Interest.
Rate
Maturity
Date
94283P AJ4
94283P AK1
94283P AL9
94283P AM7
94283P ANS
94283P AP0
94283P AQ8
9
10
11
12
13
14
15
$390,000
$405,000
$425,000
$440,000
$460,000
$485,000
$505,000
4.50~/o
4.50'/o
4.50'lo
4.60'/o
4.70Ão
4.70'/o
4.70Ãa
June 1,2016
June 1,2017
June 1,2018
June 1,2019
June 1,2020
June 1,2021
June 1,2022
No representation is made as to the accuracy of the CUSIP numbers printed herein or on
the Bonds.
The above Bonds should be presented to Bankers Trust Company,Des Moines,Iowa.
Tins represents a full call of the outstanding obligations.All interest will cease to accrue on the
Redemption Date.
BANKERS TRUST COMPANY,Des Moines,
Iowa
(End of Notice)
PASSED AND APPROVED this 2"day of March,2015.
ayor
ATTEST:
City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hughes
Rick Peterson
AYE
X
X
X
X
NAY ABSENT ABSTAIN