08/28/2012 Resolutions 2012-233 RESOLUTION 2012-233
WHEREAS, it is necessary and advisable that the following bonds (Bonds) in
accordance with their option provisions,are hereby called for payment on September 28,2012,after
which date interest on the Bonds will cease:
Wood River Flood Control Bonds,City of Grand island NE Refunding Bonds Series
2004, date of original issue August 17, 2004 presently outstanding in the principal
amount of$765,000, due in years 2013, 2014 and 2015, issued for the purpose of
refunding said Wood River Control Bonds Refunding Bonds,Series 2004.The Wood
River Diversion project was designed to provide flood protection for 1,755
structures in the City of Grand Island, numerous suburban dwellings, public
facilities and utilities and protect 5,000 acres of irrigated cropland in rural Hall and
Merrick Counties. In addition, the project enhanced wildlife habitat and provided
for wetland development. The Series 2004 Bonds mature and bear interest as
follows:
Principal Maturity Interest CUSIP
Amount Date Rate No.
$250,000 December 15, 2012 3.80% 385622NG6
$250,000 December 15, 2013 4.0% 385622NH4
$265,000 December 15, 2014 4.10% 385622NJ0
Said Bonds are hereinafter referred to as the "Refunded Bonds."
Said bonds are subject to redemption at any time on or after August 17, 2009, as a
whole or in part from time to time at the principal amount thereof, plus accrued
interest on such principal amount then being redeemed to the date fixed for such
redemption; and
WHEREAS,the principal of and interest on the Refunded Bonds shall be paid upon
presentation and surrender thereof at the designated corporate trust office of Cornerstone Bank,(the
"Paying Agent"), as paying agent and registrar for the Refunded Bonds; and
WHEREAS,a true copy of this resolution shall be filed immediately with the Paying
Agent and the Paying Agent is hereby instructed to mail notice to each registered owner of the bonds
not less than thirty days prior to the date fixed for redemption and to give any other notice as may be
required by the Depository Trust Company; and
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
The above Bonds be redeemed on September 28, 2012.
Approved as to Form •41I r
August 27,2012 a City orney
Adopted by the City Council of the City of Grand Island, Nebraska, August 28, 2012.
IN
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+avric;k, Mayor
Attest:
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RaNae Edwards, City Clerk
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