HomeMy WebLinkAboutResolution 691 Refunding Revenue Bonds
RESOLUTION NO. 691
A RESOLUTION PROVIDING FOR THE EARLY REDEMP-
TION OF CERTAIN OF THE OUTSTANDING CITY OF
WINTER SPRINGS, FLORIDA, WATER AND SEWER
REVENUE BONDS, SERIES 1990; PROVIDING FOR THE
NOTICE OF REDEMPTION; PROVIDING FOR CERTAIN
OTHER MATTERS IN CONNECTION THEREWITH; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Winter Springs, Florida (the "City"), has
heretofore determined to proceed with the sale and issuance of its
Water and Sewer Refunding Revenue Bonds, Series 1992 (the "Series
1992 Bonds") for certain purposes including the providing of funds
to (a) finance the advance refunding of the City's outstanding
Water and Sewer Revenue Bonds, Series 1990, issued in the original
principal amount of $12,300,000 (the "Refunded Bonds"); and
WHEREAS, the City has determined to call the Refunded Bonds
maturing after April 1, 2000, for redemption on April 1, 2000, and
to direct the paying agent for the Refunded Bonds (the "Paying
Agent"), to mail notice of such redemption to all Owners of the
Refunded Bonds to be redeemed and to take such further action, as
may be required by Resolution No. 638, adopted by the City on April
23, 1990, as supplemented (collectively the "Refunded Bonds
Resolution");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA:
SECTION 1. The Refunded Bonds then outstanding scheduled
to mature after April 1, 2000 are hereby irrevocably called for
redemption on April 1, 2000, at the price of 102% of the principal
amount plus accrued interest to April 1, 2000.
SECTION 2. The Paying Agent is also hereby authorized and
directed to provide written notice of such redemption to the
registered owners of such Refunded Bonds and to take such further
action as may be required by the Refunded Bonds Resolution in the
manner and at the times provided in the Refunded Bonds Resolution.
SECTION 3. This resolution shall be repealed by the City
if the Series 1992 Bonds are not delivered and paid for within
ninety (90) days of the adoption of this resolution; otherwise this
resolution shall be irrepealable and the direction given to the
Paying Agent shall be irrevocable.
SECTION 4. This resolution shall take effect immediately
upon its adoption.
PASSED AND ADOPTED BY THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, this 28th day of September, 1992.
CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA
(SEAL)
By:
Mayor
Attest:
Mary T. Norton
City Clerk
Approved as to form and legal
sufficiency
City Attorney
35402B.RES
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