11/12/2014 Resolutions 2014-344 RESOLUTION 2014-344
RESOLUTION CALLING
GENERAL OBLIGATION REFUNDING BONDS, SERIES 2009
FOR REDEMPTION
BE IT RESOLVED by the Mayor and City Council of the City of Grand Island, Nebraska,
as follows:
Section 1. That the following bonds issued by the City of Grand Island, Nebraska (the
"City") are hereby authorized to be called for redemption at par plus accrued interest on such date
as set forth in the Direction for Call (as defined below):
General Obligation Refunding Bonds, Series 2009, dated June 16, 2009, in the
principal amount of $1,390,000, becoming due December 15, 2014 through
December 15, 2017 (the "Called Bonds"), all inclusive, issued for the purpose of
providing funds for refunding $2,925,000 Various Purpose Bonds, Series 2002, of
the City, date of original issue, January 15, 2002, all as set out in the ordinance
authorizing the Called Bonds, and to pay costs of issuance of the Called Bonds.
Section 2. The Called Bonds are subject to redemption at any time on or after
June 16, 2014 and are payable at the office of the Paying Agent and Registrar, Cornerstone Bank,
York, Nebraska.
Section 3. The Mayor and the City Finance Director of the City (each, an "Authorized
Officer") are hereby authorized at any time on or after the date of this Resolution to direct the call
for redemption of said bonds on behalf of the City and such direction, when made in writing (the
"Direction for Call"), shall constitute the action of the City without further action of the Mayor and
Council of the City. The call date shall be set for any time on or after November 15, 2014 but shall
be no later than February 1, 2015, and after such date the Authorized Officers shall have no
authority to make any such determination hereunder without further action of the Mayor and
Council of the City and this Resolution shall be of no further force and effect.
Section 4. A copy of this Resolution and the Direction for Call shall be filed at least
thirty (30) days prior to the date of call with the Cornerstone Bank, York, Nebraska, as Paying
Agent and Registrar and said Paying Agent and Registrar is hereby instructed to give notice of
redemption in the manner provided for in the ordinance authorizing said bonds.
Approved as to Form U C
November 10,2014 Q Cr w,ttorney
Adopted by the City Council of the City of Grand Island, Nebraska, November 12, 2014.
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Jdy av ' ek, Mayor
Attest:
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RaNae Edwards, City Clerk