05/20/2003 Resolutions 2003-147
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RESOLUTION 2003-147
BE IT RESOLVED by the Mayor and City Council of the City of Grand Island,
Nebraska:
Section 1. The following bonds, in accordance with their option provisions are hereby
called for payment on October 1,2004, after which date interest on the bonds will cease:
Sewer System Revenue Bonds, Series 1994, of the City of Grand Island,
Nebraska, date of original issue - April 1, 1994, maturing April 1, 2005, through
April 1, 2014, in the principal amount of Eleven Million Three Hundred Fifteen
Thousand Dollars ($11,315,000), numbered as shown on the books of the Paying
Agent and Registrar, in denomination of $5,000 each, becoming due and bearing
interest as follows:
Principal Amount
$ 870,000
915,000
965,000
1,025,000
1,080,000
6,460,000
Maturity Date
April 1, 2005
April 1, 2006
April 1, 2007
April 1, 2008
April 1, 2009
April 1, 2014
Interest Rate
5.45%
5.60
5.75
5.85
5.90
6.00
CUSIP No.
385658 DM 8
385658 DN 6
385658 DP 1
385658 DQ 9
385658 DR 7
385658 DS 5
Said bonds are hereinafter referred to as the "Refunded Bonds."
Said bonds are subject to redemption at any time on or after October 1, 2004, at a
price of 101 % of the principal amount thereof, plus accrued interest to date of
redemption, and said interest is payable semiannually. Said bonds were authorized
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by Ordinance No. 7992, and were issued for the purpose of providing funds to
construct additions and improvements to the City's Sewer System, including an
addition to the wastewater treatment plant.
Section 2. Said bonds are to be paid off at the office of Wells Fargo Bank Nebraska,
National Association, Lincoln, Nebraska (formerly National Bank of Commerce Trust and
Savings Association of Lincoln, Nebraska), as paying agent and registrar.
Section 3. A true copy of this resolution shall be filed immediately with Wells Fargo
Bank Nebraska, National Association, as Paying Agent and Registrar for the Refunded Bonds,
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 called bonds.
Adopted by the City Council of the City of Grand Island, Nebraska, May 20,2003.
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City Clerk