03/08/2011 Resolutions 2011-60RESOLUTION 2011 -60
BE IT RESOLVED by the Mayor and City Council of the City of Grand Island, Nebraska:
Section 1. The following bonds of the City of Grand Island, Nebraska, in accordance with
their option provisions are hereby called for payment on August 29, 2011, after which date
interest on the bonds will cease:
Public Safety Tax Anticipation Bonds, Series 2006, date of original issue - August 29,
2006, in the principal amount of Five Million Seven Hundred Thirty -five Thousand
Dollars ($5,735,000), numbered as shown on the books of the Paying Agent and Registrar,
and becoming due and bearing interest as follows:
Principal Amount
Maturity Date
Interest Rate
CUSIP No.
$ 620,000
September 1, 2011
3.95%
385654 AE 8
645,000
September 1, 2012
4.00
385654 AF 5
670,000
September 1, 2013
4.00
385654 AG 3
700,000
September 1, 2014
4.10
385654 AH 1
725,000
September 1, 2015
4.15
385654 AJ 7
755,000
September 1, 2016
4.20
385654 AK 4
790,000
September 1, 2017
4.30
385654 AL 2
830,000
September 1, 2018
4.35
385654 AM 0
Said bonds are hereinafter referred to as the "Refunded Bonds."
The Refunded Bonds are subject to redemption at any time on or after August 29, 2011, at
par and accrued interest, and said interest is payable semiannually.
Said Refunded Bonds were issued for the purpose of providing funds for the construction and
equipping of a law enforcement center and miscellaneous costs associated therewith.
Section 2. Said bonds are to be paid at the principal corporate trust office of Cornerstone
Bank, York, Nebraska (formerly Cornerstone Bank, National Association, York, Nebraska), as
paying agent and registrar (the "Paying Agent and Registrar ").
Section 3. A true copy of this resolution shall be filed immediately with the Paying Agent
and Registrar, and said Paying Agent and Registrar is hereby irrevocably instructed to mail notice
to each registered owner of said bonds not less than thirty days prior to the date fixed for
redemption, all in accordance with the ordinance authorizing said Refunded Bonds.
Approved as to Form a_
March 7, 2011 0 City Attorney
Adopted by the City Council of the City of Grand Island, Nebraska, March 8, 2011.
Attest:
QZ) O' � Q,,)
RaNae Edwards, City Clerk
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