Resolution 2014-15 - Reso. 2014-15 - call 2004 fire station certificates of obligation - signed 8-19-14RESOLUTION NO. 2014-15
RESOLUTION AUTHORIZING FINAL REDEMPTION OF THE CITY OF
HUNTSVILLE, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF
OBLIGATION, SERIES 2004
THE STATE OF TEXAS
COUNTY OF WALKER
CITY OF HUNTSVILLE
WHEREAS, the City of Huntsville, Texas (the "City ") has duly issued and there is now
outstanding the following obligations:
City of Huntsville, Texas Combination Tax and Revenue Certificates of
Obligation, Series 2004, dated March 15, 2004, in the aggregate principal amount
of $440,000, maturing on February 15 in each of the years 2016, 2018, 2020,
2022 and 2024, as set forth in Exhibit "A" (the "Series 2004 Obligations ") and
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 the remaining maturities of the
Series 2004 Obligations in the principal amount of $440,000 on September 25, 2014 (the
"Redeemed Obligations ").
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF HUNTSVILLE, TEXAS THAT:
Section 1. The City hereby calls for redemption the Redeemed Obligations on
September 25, 2014. 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 Obligations in substantially
final form. The Director of Finance, the City's Financial Advisor, the City's Bond Counsel
and/or the paying agent for the Redeemed Obligations 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 ordinance authorizing the
Redeemed Obligations.
Section 2. The Director of Finance is hereby authorized to transfer City funds as
necessary to redeem the Redeemed Obligations.
Section 3. The Mayor or Mayor Pro -Tem of the City Council of the City, the City
Manager, and the Director of Finance 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 Obligations 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 ordinance authorizing the Redeemed Obligations.
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.
PASSED AND ADOPTED this 19'' day of August, 2014
ATTEST:
Gam. GT/
M Woodward, ayor
City of Huntsville, Texas
AS TO FORM:
oodward, City Secretary / 1Ik4 *d Schneider, City Attorney
EXHIBIT "A"
NOTICE OF REDEMPTION
NOTICE IS HEREBY GIVEN that the City of Huntsville, Texas (the "City ") has called for
redemption the outstanding bonds of the City described below at a price of par plus accrued interest to
such date of redemption, to -wit:
City of Huntsville, Texas, Combination Tax and Revenue Certificates of Obligation,
Series 2004, dated March 15, 2004, the remaining outstanding bonds maturing on
February 15 in each of the years 2016, 2018, 2020, 2022 and 2024, as further described
below (collectively, the "Obligations "):
Maturity
Redemption
Principal
Interest
CUSIP
FebruM 1515
Date
mount
Rate
Number*
2016
September 25, 2014
$ 70,000
3.60%
447258NP5
2018
September 25, 2014
80,000
3.80
447258NQ3
* **
* **
* **
* **
* **
2020
September 25, 2014
90,000
4.00
447258NRI
* **
* * **
* **
* **
* **
2022
September 25, 2014
95,000
4.20
447258NS9
* **
* **
* **
* **
* **
2024
September 25, 2014
105,000
4.30
447258NT7
The CUSIP Numbers are provided for the convenience
of the holders of the Bonds. The City
and the Paying Agent
do not warrant the accuracy of the CUSIP Numbers,
and neither shall
be responsible for any error of any nature
relating to CUSIP Numbers.
The Obligations being redeemed shall be redeemed upon presentation at the principal corporate
offices of Wells Fargo, National Association, as paying agent/registrar for the Obligations, at the
addresses set forth below. Interest on the Obligations shall cease to accrue from and after September 25,
2014.
First Class /Registered/Certified
Mail
Wells Fargo Bank, N.A.
Corporate Trust Operations
MAC N9303 -121
PO Box 1517
Minneapolis, MN 55480
By Overnight or Courier
Wells Fargo Bank, N.A.
Corporate Trust Operations
MAC N9303 -121
6`h & Marquette Avenue
Minneapolis, MN 55479
By Hand
Wells Fargo Bank, N.A.
Northstar East Building
6082 d Ave. So., 12`h Floor
Minneapolis, MN
In compliance with section 3406 of the Internal Revenue Code of 1986, as amended, payors
making certain payments due on debt securities may be obligated to deduct and withhold a portion of
such payment from the remittance to any payee who has failed to provide such payor with a valid
taxpayer identification number. To avoid the imposition of this withholding tax, such payees should
submit a certified taxpayer identification number when surrendering bonds for redemption.
CITY OF HUNTSVILLE, TEXAS
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF WALKER
CITY OF HUNTSVILLE
We, the undersigned officers and members of the City of Huntsville, Texas (the "City"), hereby
certify as follows:
1. The City Council of the City convened in a REGULAR MEETING ON THE 19TH DAY
OF AUGUST, 2014, at the City Council Chambers, Huntsville City Hall (the "Meeting "), with the duly
constituted officers and members of the City, to -wit:
Mac Woodward, Mayor
Joe Emmett, Ward 1
Andy Brauninger, Position 1
Tish Humphrey, Ward 2
Lydia Montgomery, Position 2
Ronald Allen, Ward 3
Don H. Johnson, Position 3
Joe Rodriquez, Ward 4
Keith D. Olson, Position 4
and all of said persons were present, except the following absentees: N Gtl (- , thus
constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: a
written
RESOLUTION AUTHORIZING FINAL REDEMPTION OF THE CITY OF HUNTSVILLE, TEXAS
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2004
was duly introduced for the consideration of the City Council. It was then duly moved and seconded that
the Resolution be passed; and, after due discussion, the motion, carrying with it the passage of the
Resolution, prevailed and carried by the following vote:
AYES:
NOES:
2. A true, full and correct copy of the aforesaid Resolution passed at the Meeting described
in the above and foregoing paragraph is attached to and follows this Certificate; that the Resolution has
been duly recorded in the City Council's minutes of the Meeting; that the above and foregoing paragraph
is a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage
of the Resolution; that the persons named in the above and foregoing paragraph are the duly chosen,
qualified and acting officers and members of the City Council as indicated therein; that each of the
officers and members of the City Council was duly and sufficiently notified officially and personally, in
advance, of the time, place and purpose of the aforesaid Meeting, and that the Resolution would be
introduced and considered for passage at the Meeting, and each of the officers and members consented, in
advance, to the holding of the Meeting for such purpose; that the Meeting was open to the public and
public notice of the time, place and purpose of the meeting was given, all as required by Chapter 551,
Government Code, as amended.
�iED AND S D s 19�' da of ugust, 2014.
- , /, /I //,/,,
G!/
W odward, City Secretary NfacfWoodwarJ, May r
SEAL)