HomeMy WebLinkAboutResolution 50-1994 RESOLUTION N0. 50-94
WHEREAS, on June 1, 1989 the City iseued its Economic Development
Revenue Bonds (the "Bonds" ), Series 1989 (Daktronice, Inc. Pro�ect) ;
and
WHEREAS, the City has received from Daktronics, Inc. s requeet
for redemption and payment in full of the Bonds as of �arch 21, 1994;
and
WHEREAS, pursuant to Section 305 of the Trust Indenture dat�d as
of June 1, 1989 (the "Indenture" ) in connection Mith the ie�uaace of
the Bonds provides for the City to iesue 8 Notice of Redemption upon
request by the Companyt and
WHEREAS, the Indenture contains certain requirements of notice to
the trustee and to the holder of the Bonds, all of rhich notices heve
been Maived by the trustee and the bondholdere, a copy of rhich
Maivers are on file in the office of the City Finance Officeri
NOW, THEREFORE, the City Commie�ion acknorledgee the redemption
of the Bonds as of March 21, 1994 and hereby directs the City Finance
Officer of the City of Brookings to iseue a Notice of Redemption in
subatantislly the form of Exhibit A attached hereto, and file a copy
thereof in the City records and to take euch other steps as ere
required on the part of the City to effectuate the redemption of the
Bonds.
Passed and epproved thie 3rd day of May, 1994.
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