HomeMy WebLinkAbout1996-161
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Resolution 96-161
Authorizing the Redemption and Prepayment
of the 1987C G.O. Improvement Bonds
Whereas, the City Council of the City of Stillwater has accumulated sufficient funds for
the prepayment and redemption of the balance of bonds outstanding, and
Whereas, the interest rate on the outstanding bonds is from 7.4% to 7.9%, and
Whereas, the City of Stillwater will save $48,920 in future interest costs by prepaying the
balance of outstanding bonds, and
Whereas, pursuant to the bond resolution, the bonds are callable on August 1, 1996.
Now, therefore, be it resolved by the City Council of the City of Stillwater that the 1987C
G.O. Improvement Bonds shall be called on August 1, 1996 and the city shall give notice
of such redemption as required by resolution #7819, which authorized the issuance ofthe
1987C G.O. Improvement Bonds.
Adopted by the City Council this 18th day of June, 1996.
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Attest: ity Clerk - ...
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