07/13/2004 Resolutions 2004-173
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RES 0 L UTI 0 N 2004-173
BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF GRAND
ISLAND, NEBRASKA, that:
1. The following bonds of the City of Grand Island, Nebraska, in accordance with their option
provisions are hereby called for payment on December 15,2004, after which date interest on
the bonds will cease:
General Obligation Various Purpose Bonds, Series 1999, date of original issue -
December 15,1999, in the principal amount of Two Million Sixty-five Thousand
Dollars ($2,065,000), bonds maturing December 15, 2006 through December 15,
2014, inclusive, numbered as shown on the books of the Paying Agent and Registrar
becoming due and bearing interest as follows:
Principal Amount Maturity Date Interest Rate CUSIP No.
$185,000 December 15, 2006 4.85% 385622 LL 7
195,000 December 15, 2007 4.95 385622 LM 5
205,000 December 15, 2008 5.05 385622 LN 3
215,000 December 15, 2009 5.15 385622 LP 8
225,000 December 15, 2010 5.20 385622 LQ 6
I 240,000 December 15, 2011 5.30 385622 LR 4
255,000 December 15, 2012 5.40 385622 LS 2
265,000 December 15, 2013 5.50 385622 LT 0
280,000 December 15, 2014 5.60 385622 LU 7
Said bonds are hereinafter referred to as the "Refunded Bonds."
Said bonds are subject to redemption at any time on or after December 15, 2004, at
par and accrued interest, and said interest is payable semiannually.
Said Refunded Bonds were issued for the purpose of paying the costs of improving
streets and alleys, intersections and areas formed by the crossing of streets, avenues
or alleys and streets adjacent to real estate owned by the City in Street Improvement
District No. 1222, and paying the costs offload control improvements in the Wood
River Flood Control Project.
2. The Refunded Bonds are to be paid off at the principal corporate trust office of Cornerstone
Bank, National Association, in York, Nebraska (the "Paying Agent"), as paying agent and
registrar.
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3.
A true copy of this resolution shall be filed immediately with the Paying Agent and said
Paying Agent 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, July 13, 2004.
QS\o.JL <2?Dw~
RaNae Edwards, City Clerk
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