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Resolution 2015-17 - Reso. 2015-17 - calling 2009 G.O. bonds - 9-15 - 9/1/2015CITY 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 1ST DAY OF SEPTEMBER, 2015, at the City Council Chambers, Huntsville City Hall (the "Meeting "), of the duly constituted officers and members of the City, to -wit: Mac Woodward, Mayor Andy Brauninger, Position 1 Lydia Montgomery, Position 2 Don H. Johnson, Position 3 Keith D. Olson, Position 4 Joe Emmett, Ward 1 Tish Humphrey, Ward 2 Ronald Allen, Ward 3 Joe Rodriquez, Ward 4 and \Lall �, of ersons were present, except the following absentees: 1a O , thus constituting a quorum. Whereupon, among oth1'r business, the follo i was trans cted at the Meeting: a written RESOLUTION AUTHORIZING FINAL REDEMPTION OF THE CITY OF HUNTSVILLE, TEXAS GENERAL OBLIGATION BOND, SERIES 2009 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. SIGNED AND SEALED this 1st day of September 2015. .44._ 41•4*, Mac Woodwar , Mayor RESOLUTION NO. 2015-17 RESOLUTION AUTHORIZING FINAL REDEMPTION OF THE CITY OF HUNTSVILLE, TEXAS GENERAL OBLIGATION BOND, SERIES 2009 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 General Obligation Bond, Series 2009, dated February 24, 2009, in the aggregate principal amount of $715,000, maturing on August 15 in the years 2016 through 2019, as set forth in Exhibit "A" (the "Series 2009 Bond ") 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 2009 Bond in the principal amount of $715,000 on September 15, 2015 (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 15, 2015. 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 September 1, 2015. ATTEST: 4:, Woodw. % 'City Secretary of Huntsville, Texas Mac Woo ard, Mayor City of Huntsville, Texas APPROVED AS TO FORM: onard chneider, City Attorney ty of Huntsville, Texas 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, General Obligation Bond, Series 2009, dated February 24, 2009, the remaining outstanding bonds maturing on August 15 in each of the years 2016, through 2019, as further described below (collectively, the "Obligations "): Maturity February 15 2016 * ** 2017 * ** 2018 * ** 2019 Redemption Date September 15, 2015 * ** September 15, 2015 * ** September 15, 2015 * * ** September 15, 2014 Principal Interest Amount Rate $ 171,000 2.90% * ** * ** 176,000 2.90 * ** * ** 181,000 2.90 * ** * ** 187,000 2.90 The Obligations being redeemed shall be redeemed upon presentation at the principal office of First National Bank of Huntsville, as paying agent/registrar for the Obligations, at the address set forth below. Interest on the Obligations shall cease to accrue from and after September 15, 2015. First National Bank of Huntsville 1300 11`1 Street Huntsville, TX 77340 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.