Friday, 14 October 2011 10:14
Adoption of Ordinance 2011-10, an ordinance authorizing the issuance of “City of Alton, Texas General Obligation Refunding Bonds, Series 2011” in a maximum par amount of $5,000,000, at an interest rate (NIC) to not exceed 5% and achieving a minimum present value savings of 3%; approving and authorizing the execution of a paying agent/registrar agreement, an official statement or a purchase and investment letter and other instruments and procedures related thereto; delegating authority to the Mayor and the City Manager (either one duly authorized to act on his own) to select outstanding bonds to be refunded and to decide whether it is a negotiated, competitive or privately placed financing; calling certain bonds for redemption and approving all final terms of the bonds.
READ, APPROVED, AND PASSED on this the 4th day of October, 2011.
Salvador Vela, Mayor
ATTEST: Baudelia Rojas, City Secretary