Res 2021-041/Authorizing Extraordinary Optional Redemption of a portion of the City of San Marcos, Texas Special Assessment Revenue Bonds, Series 2020 (Whisper Public Improvement District).

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RESOLUTION NO. 2021-41 RESOLUTION AUTHORIZING EXTRAORDINARY OPTIONAL REDEMPTION OF A PORTION OF THE CITY OF SAN MARCOS, TEXAS SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2020 (WHISPER PUBLIC IMPROVEMENT DISTRICT) THE STATE OF TEXAS COUNTIES OF HAYS, CALDWELL AND GUADALUPE CITY OF SAN MARCOS WHEREAS, the City of San Marcos, Texas (the "City") has duly issued and there is now outstanding the following obligations: City of San Marcos, Texas Special Assessment Revenue Bonds, Series 2020 (Whisper Public Improvement District) dated June 30, 2020, in the aggregate principal amount of $14,300,000 (the Bonds"); and WHEREAS, pursuant to Section 4.4 of the Trust Indenture for the Bonds dated June 30, 2020, the City Council (the "City Council") of the City deems it to be in the best interest of the City to use amounts on deposit in the Redemption Fund as a result of Prepayments to redeem a portion of the September 1, 2025, 2030, 2040 and 2050 maturities in the aggregate principal amount of $1,905,000 on March 29, 2021 (the "Redeemed Bonds") as set forth in Exhibit "A". NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAGO VISTA, TEXAS THAT: Section 1. The City hereby calls for redemption pursuant to Section 4.4 of the Trust Indenture for the Bonds the Redeemed Bonds on March 29, 2021. Attached to this Resolution as Exhibit "A" and made a part hereof for all purposes, is a copy of the notice of redemption for the Redeemed Bonds in substantially final form. The Finance Director, the PID Administrator, the City's Financial Advisor, the City's Bond Counsel and/or the Trustee for the Redeemed Bonds are hereby authorized to take all actions necessary to effectuate the redemption of such obligations, including finalizing the notice of redemption and sending all notices of such redemption required by the Trust Indenture for the Bonds. Section 2. The Trustee is hereby authorized to transfer the Prepayments from the Redemption Fund as necessary to redeem the Redeemed Bonds. Section 3. The Mayor or Mayor Pro -Tem of the City Council of the City, the City Manager, and the Finance Director shall be and they are hereby expressly authorized, empowered and directed from time to time and at any time to do and perform all such acts and things, including giving any notices as may be required by the City's continuing disclosure 1 SanMarcos RedemptionRes 2021: 2020 Bonds