1485 - Resolution - Procedures to Accept Offers to Redeem 1984 Water-Sewer Revenue BondsRESOLUTION NO. 1,485
A RESOLUTION OF THE CITY OF PORT
ORCHARD, WASHINGTON, PROVIDING
PROCEDURES TO ACCEPT OFFERS (TENDERS)
TO REDEEM CITY OF PORT ORCHARD 1984
WATER -SEWER REVENUE BONDS.
WHEREAS, the City of Port Orchard has received
many early payoffs of ULID No. 1 assessments, and;
WHEREAS, .the City of Port Orchard has available a
sufficient balance in the 1984 Water -Sewer Revenue Bond Fund
for bond redemption.
NOW, THEREFORE, the City Council of the City of
Port Orchard, hereby resolves and establishes the following:
The City Treasurer shall contact, all bondholders,
as shown on a listing provided bythe bond registrar, by July
1 of each year through 1993.
Bondholders will have until September 1 to
respond with` offers (tenders) not 'Ito exceed 102%.
Those offers excepted 'will be paid through the
bond registrar on October 1 at the time of the semi-annual
interest payment.
I
PASSED by the City Council of the City of
Port Orchard, APPROVED by the Mayor and attested by the
Clerk in authentication of such passage this 23rd day of
May, 1988. 1
LESLIE J. WEATHERILL, MAYOR
ATTEST:
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Patricia Hower, City Clerk