HomeMy WebLinkAboutResolution 45-1992 � .
RESOLUTIOH N0. 45-92
A RESOLUTIOH AUTHORIZIHG THE CALL FOR REDEMPTION AND PREPAYMEHT
OH AUGUST 1, 1992 OF OUTSTAHDING BOHDS OF THE CITY DESIGHATED AS
GEHERAL OBLIGATION HOSPITAL AHD HURSING HOME REFUNDING BOHDS, SERIES
OF 1983.
WHEREAS, the provisions of the General Obligation Hospital and
Nursing Home Refunding Bonds, Series of 1983 provide for the prior
redemption of bonds maturing on August 1, 1988 and thereafter at the
option of the City of Brookings any time on or after February 1, 1988,
in. whole, or in part in inverse order of maturities and by lot pithin
a maturity, at par plus accrued interest thereon to the date set for
redemption, and
WHEREAS, SDCL 6-8B-23 sets forth the requirements for notice of
said redemption, which requires that a notice of the call for
redemption may be made by publication once a week for two consecutive
weeks in the neMspaper of general circulation serving the public body,
and
WHEREAS, there currently are 5675, 000. 00 of outstanding General
Obligation Hospital and Hursing Home Refunding Bonda, series of 1983,
and
WHEREAS, it appears in the best interest of the City that these
bonds be redeemed and eufficient funds being available for the
redemption of said bonds, now therefore
BE IT RESOLVED by the City Commission of the City of Brookings,
South Dakota that the outstanding General Obligation Hospital and
Hursing Home Refunding Bonds, Series of 1983 be redeemed and that
Notice of Call for Redemption be given as provided by law and that the
Mayor and Finance Officer are hereby suthorized to execute said Notice
of Call for Redemption.
Passed and approved this 9th day of June, 1992.
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NOTICE OF CALL FC � EDEM�TION
$1 ,575 ,000 .00
GENERAL OBLIGATION HOSPITAL AND
NURSING HOME REFUNDING BONDS
SERIES OF 1983
CITY OF BROOKINGS
BROOKINGS COUNTY
SOUTH DAKOTA
NOTICE IS HEREBY GIVEN that by order of the City Commission
of the City of Brookings, South Dakota, there has been called for
redemption and prepayment on
August l, 1992
outstanding bonds of the City designated as General Obligation
Hospital and Nursing Home Refunding Bonds , Series of 1983 ,
bearing �erial Nos . 181 through 315 having stated maturity dates
in the years 1992 through 1995, and totalling $675 ,000 .00 in
principal amount. The bonds are being called at a price of par
plus accrued interest to August 1 , 1992, on which date all
interest on said bonds will cease to accrue. Holders of the
bonds , hereby called for redemption, are requested to present
their bonds for payment, with August l, 1992 and subsequently
maturing interest coupons attached, at the First National Bank
in Brookings, in Brookings, South Dakota, on or before said date
when they will cease to bear interest.
Dated this � +� day of June, 1992 .
BY ORDER OF THE CITY COMMISSION
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