Res 2008-094 - Laserfiche WebLink

Home Browse Search

Resolution 2008-94R RESOLUTION AUTHORIZING REDEMPTION OF CERTAIN OF THE CITY'S GENERAL OBLIGATION REFUNDING AND IMPROVEMENT BONDS, SERIES 1999 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 General Obligation Refunding and Improvement Bonds, Series 1999, dated February 1, 1999, in the aggregate principal amount of $760,000, maturing on August 15, 2019, as set forth in Exhibit A (collectively, the "Series 1999 Bonds") WHEREAS, the City Council (the "City Council") of the City deems it to be in the best interest of the City to use lawfully available funds to redeem a portion of the Series 1999 Bonds on August 18, 2008 (the "Redeemed Bonds"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS THAT: Section 1. The City hereby calls for redemption the Redeemed Bonds on August 18, 2008. 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 Director of • Finance, the City's Financial Advisor, the City's Bond Counsel andlor the paying agent for the Redeemed Bonds are hereby authorized to take all actions necessary to effectuate the redemption of such obligations, including sending all notices of such redemption required by the order authorizing the Redeemed Bonds. Section 2. The Director of Finance is hereby authorized to transfer City funds 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 Director of Finance and all other officers, employees and agents of the City, and each of them, 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 obligations, if any, with respect to the Redeemed Bonds and all other instruments, whether or not herein mentioned, as may be necessary or desirable in order to carry out the terms and provisions of this Resolution or the order authorizing the Redeemed Bonds. Section 4. If any provision of this Resolution or the application thereof to any circumstance shall be held to be invalid, the remainder of this Resolution and the application thereof to other circumstances shall nevertheless be valid, and this governing body hereby declares that this Resolution would have been enacted without such invalid provision_ Section 5. This resolution shall be in full force and effect immediately upon its passage and approval.