HomeMy WebLinkAboutRESOLUTION NO. 2008-25 - PREPAYMENT FOR $290000 GO WATER NOTES F'airffaV419915-10/Prepay
MINUTES TO .ADOPT RESOLUTION
PROVIDING FOR PREPAYMENT OF
NOTES
FOR YOUR RECORDS 419915-10
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Fairfax, Iowa
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April 8, 2008
The City Council of Fairfax, Iowa, met at the in the
Cit at o'clocl� ,m., on April 8, 2008.8. T meeting w called to order by the
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Mayor and the roll being called, there were present the Mayor, in the chair, and the following
named Council Members.
S
Present. X
Absent:
Council Member s _ introduced the resolution next hereinafter
set out and moved that said resolution be adopted; seconded by Council Member
r; Lam+ and after due consideration thereof by the Council,the Mayor put
the question on the motion and, the roll being called, the following named Council Members
voted:
, r
s
Ayes:
L"?'€
Nays:
Whereupon, the Mayor declared the resolution duly adopted., as follows:
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Dorsey& Whitney LLP, Attorneys, Des Maines,Iowa
paiiTax/419915-10/Prepay
RESOLUTION
Resolution providing for prepayment of $290,000 General Obligation Water Notes,
Series 2001A, dated October 1, 2001
WHEREAS, General Obligation Water Notes, Series 2001A, dated October 1, 2001 (the-
"2001A
the"2001A Notes"), were issued by the City of Fairfax, Iowa (the `'City") pursuant to a resolution
passed and approved on October 9, 2001, under which the right was reserved to the City to call
and prepay all of the 2001A Notes maturing in each of the years 2009 to 2016, inclusive, as: a
whole or from time to time in part prior to and in inverse order of their maturity on terms of par
and accrued interest on any interest payment date on or after June 1, 2008, provided notice shall
have first been given by mailing written notice by certified mail, return receipt requested, to each
of the registered owners of the 2001A Notes to be redeemed at the addresses shown on the City's
registration books, not less than 30 nor more than 60 days prior to the date set for such
redemption and prepayment; and
WHEREAS, the City has issued its General Obligation Sanitary Sewer and Refunding
Notes, for the purpose of providing funds to call and prepay$290,000 of the Series 2001A Notes
as of June 1, 2008, scheduled to mature in each of the years 2009 to 2016, inclusive; and
WHEREAS, prior to calling the Series 2001A Notes for redemption, provision must be
lade for giving notice thereof;
NOW, THEREFORE, It. Is Hereby Resolved and ordered by the City Council of Fairfax,
Iowa, as follows:
Section 1. Series 2001 Notes in the total aggregate principal amount of $290,000,
and scheduled to mature on June 1, as follows:
Year Principal Amount
2009 $30,000
2010 $301,000
2011 $35,1000
2012 $35„0100
2013 $35,000
2014 $40„000
2015 $40,000
2016 $45,000
shall be called for redemption and prepaid as of June 1, 2008, on terms of par and accrued
interest to such date of prepayment.
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Dorsey&Whitney LLP, Attorneys, Des Moines, Iowa
F'a1r4a.cl419915-10/Prepay
Section 2. Bankers Trust Company, N.A., Des Moines, Iowa, as Registrar for the
2001A Notes, is hereby authorized and directed to give notice of such redemption by mailing
written notice by certified mail, return receipt requested, to each of the registered owners of the
Series 2001 Notes to be redeemed at the addresses shown on the City's registration books, not
less than 30 nor more than 60 days prior to the date set for such redemption and prepayment, as
Provided in the resolution authorizing the issuance of such Series 2001A Notes.
Section 3. All resolutions or orders or parts thereof, to the extent the same may be in
conflict herewith, are hereby repealed.
Passed and approved on April 8,2008.
Mayor
Attest:
ILL
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City Clerk
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Dorsey& Whitney LLP, Attorneys, Des Moines,Iowa
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Faur1'ax1419915-10/Prep ay
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On motion and vote,the meeting adjourned.
Mayor
Attest:
City Clerk
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Dorsey& Whitney LLP, Attorneys, Des Moines, Iowa
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F'airfax/419915-1O/Prepay
STATE OF IOWA
COUNTY OF LINN SS:
CITY OF FAIRFAX
I, the undersigned, City Clerk of the City of Fairfax, do hereby certify that the transcript
hereto attached is a true, correct and complete copy of all the records of the City's Council
relating to the prepayment of$20,000 General Obligation Water Notes, Series 2001A.
WITNESS MY HAND .and the seal of the City hereto affixed this day of
2008.
C1ty Clerl
(Seal)
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Dorsey& Whitney LLP, Attorneys, Des Moines, Iowa